Sand
Control Equipment Market Insights
The sand control
equipment market is estimated to grow at a moderate CAGR during the forecast
period. Increasing drilling activities across the globe, high rates of offshore
rigs, rising oil & gas production, growth in number of wells and ease in
drilling and production of gas among others are some of major drivers which are
anticipated to drive the market growth of sand control equipment.
The sand control equipment
consists of devices which help in exclusion of sand formations and its mixing
during the extraction process of hydrocarbons. The system is used to enhance
the productivity and performance of well, thus giving it one of the most
important role in overall completion process. The equipment also helps in
elimination of problems such as erosion of hardware and down-hole cavities.
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Sand
Control Equipment Market: By Application
The sand control
equipment market can be segmented based on application into onshore and
offshore. Onshore application segment is expected to hold the largest market
share in terms of revenue. This strong hold can be attributed to various
factors such as lower drilling cost of onshore application, presence of large
number of onshore sites, and increasing dependency on conventional oil &
gas among others. However, market for offshore application is expected to grow
at high CAGR during the forecast period. This growth can be attributed to
increasing offshore operations of oil & gas extraction, well completion,
and cementing job. Energy produced offshore is one of the major components of
global oil & natural gas supply and could offer important source of
renewable electricity. Increasing offshore oil and gas operations majorly in
Middle East, Brazil, North Sea, Gulf of Mexico and the Caspian Sea is expected
to increase the CAGR of sand control equipment during the forecast period.
Sand
Control Equipment Market: By Technique
The sand control
equipment market can be segmented on the basis of technique into gravel pack,
frac pack, sand screens, and inflow control devices. Gravel pack segment is
expected to hold the largest market share in the forecast period owing to
increased drilling of conventional oil & gas fields in the onshore regions
across the globe. Frac pack system technique holds the second largest market
share followed by sand screen technique. The sand control equipment is widely
used in onshore arena. However, inflow control devices segment is anticipated
to witness highest CAGR during the forecast period. Reduction in expenditure
and increasing life span are some of the major factors driving the growth of
inflow control devices segment in the sand control equipment market
Sand
Control Equipment Market: Regional Insights
Asia Pacific is
expected to hold the largest market share in terms of revenue during the
forecast period. The market has witnessed growth in the region because of
economic growth and development of developing countries in the region such as
China, India, and Australia. Moreover, many international companies have also
increased their presence in the region due to growing mining and exploration
activities in the region. The major factor behind the growth of Asia Pacific
sand control equipment market can be accredited to the increasing government
support in oil & gas industry, and increasing private investments by major
players in order to support new drilling activities in the region. North
America is anticipated to hold the second largest market share owing to the
increased demands for oil production in Mexico, US, and Canada.
Sand
Control Equipment Market: End-Use Landscape
The end-use landscape
entails a list of current and prospective consumers prevailing across the
regions. This section provides company addresses, contact details, products,
and regional presence of companies who are purchasing or are likely to purchase
sand control equipment over the coming years. Some companies which are
currently using sand control equipment and are likely to purchase it in future
such as Rio Tinto, BHP Billiton, Freeport McMoRan Copper & Gold, Glencore
Xstrata, China Shenhua Energy, and Vale among others.
Sand
Control Equipment Market: Vendor Landscape
The report contains a
chapter dedicated to vendors operating in the market, covering raw material
manufactures, equipment developers, manufacturers, and distributors. The report
provides these insights on a regional level. This section of the report entails
contact details, experience, products manufactured/supplied, and geographical
presence of companies.
Sand
Control Equipment Market Share & Competitor Analysis
Some of the key players operating in the sand control equipment
market are Halliburton, Baker Hughes, Weatherford,
National Oilwell Varco, Schlumberger, Dialog, Mitchell, Packers Plus, Superior
Energy, Interwell, Variprem, Tendeka, and Hebei Shengkai among others.
In July 2017,
Halliburton announced the successful acquisition of Summit ESP; the company is
engaged in the development, and manufacturing of electrical submersible pumping
systems.
In November 2013,
Halliburton signed an agreement to acquire Intelligent Well Controls, the
company is engaged in the improvement of way in which wells are drilled and
completed.
In December 2016,
National Oilwell Varco successfully acquired Fjords Processing AS; the company
is engaged in the operation of processing technology, systems, and services to
upstream oil & gas industry.
In June 2012,
Weatherford International acquired Petrowell Ltd., the company specializes in
the designing, engineering, testing, and manufacturing of some of oil & gas
completion tools
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