The report "Drilling and Completion Fluids Market by Application (Onshore and Offshore),
Fluid System (Water-Based System, Oil-Based System, Synthetic-Based System),
Well Type (Conventional and HPHT), and Region - Global Forecast to 2023", the global drilling
& completion fluids market is projected to reach USD 12.76 billion by 2023
from an estimated USD 9.62 billion in 2018, at a CAGR of 5.82% during the
forecast period. The growth of the drilling & completion fluids market is
mainly driven by the increase in drilling activities and rise in drilling and
exploration of shale gas. The demand for drilling and completion fluids
increases with the rise in drilling and exploration activities.
Don’t
miss out on business opportunities in Drilling and Completion Fluids Market. Download
PDF brochure and gain crucial industry insights that will help your business
grow:
BHGE (US), Halliburton (US), Canada Energy Services (Canada), Schlumberger (US), Newpark Resources (US), Tetra Technologies (US), and Weatherford (US) are some of the key players in the market.
The key players in drilling
and completion fluids market have undertaken merger and acquisition activities
to expand their market share.
Browse and in-depth TOC on “Drilling and
Completion Fluids Market”
79 – Tables
36 – Figures
135 – Pages
View more detailed
TOC:
The onshore application is estimated to be the fastest-growing segment of
drilling and completion fluids market during the forecast period. The growth of
the onshore segment is mainly driven by the rise in demand for energy around
the world and the growth in drilling activities. The increasing focus on unconventional
resources such as shale gas, coalbed methane (CBM), and tight oil reserves will
also boost the growth of this market segment.
The HPHT well type is estimated to be the fastest-growing segment of
drilling and completion fluids market during the forecast period. The term HPHT
is applied to wells that have only high pressure or high temperature or both
these characteristics. HPHT wells faced challenges while well construction and
production of oil & gas. The E&P activity increasingly involves operations
in HPHT downhole conditions. Advancements in technologies during the past
decade have allowed the operators to address numerous challenges of drilling
HPHT wells. As the HPHT drilling activity continues to grow and well conditions
become more severe, more advanced devices and materials will be required. The
main aim is to reduce the drilling risk by enabling better well placement and
improved borehole stability. In the current oil price scenario, the drilling of
HPHT wells is economically less viable. However, as the oil prices increase,
the drilling of HPHT wells would also increase.
The North American region is estimated to be the fastest
growing market for drilling and completion fluids during the forecast period.
The North American drilling and completion fluids market
is mainly driven by the rise in shale gas exploration and increase in drilling
activity for oil and gas. The onshore activities have improved with the
exploration of vast shale gas reserves in the North American region. Also, the
governments in North America have formed policies and regulations for the
prevention of the degradation of the environment.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on
30,000 high growth niche opportunities/threats which will impact 70% to 80% of
worldwide companies’ revenues. Currently servicing 7500 customers worldwide
including 80% of global Fortune 1000 companies as clients. Almost 75,000 top
officers across eight industries worldwide approach MarketsandMarkets™ for
their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™
are tracking global high growth markets following the "Growth Engagement
Model – GEM". The GEM aims at proactive collaboration with the clients to
identify new opportunities, identify most important customers, write
"Attack, avoid and defend" strategies, identify sources of incremental
revenues for both the company and its competitors. MarketsandMarkets™ now
coming up with 1,500 MicroQuadrants (Positioning top players across leaders,
emerging companies, innovators, strategic players) annually in high growth
emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000
companies this year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s flagship competitive intelligence and
market research platform, "Knowledgestore" connects over 200,000
markets and entire value chains for deeper understanding of the unmet insights
along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
