You are here
Well Cementing Services Market Growth Opportunities, Driving Factors by Manufacturers, Regions Till 2023
The well cementing services market is segmented into onshore and offshore applications.
Global well cementing services market is projected to reach $8,862.0 million by 2023, increasing exploration and production (E&P) in unconventional reserves and large number of mature wells are driving the market growth. The chief objective of primary cementing is to provide zonal isolation, in order to prevent migration of fluids in the annulus. Also, it provides protection to the casing string from corrosive formation fluids.
Download Research Report Sample At: https://www.psmarketresearch.com/market-analysis/well-cementing-services-market/report-sample
On the basis of service type, the well cementing services market is categorized into primary, remedial, and others. Of these, primary services held the largest share in the market during the historical period, contributing more than 75.0% revenue in 2017. This is mainly driven by increasing E&P activities coupled with the increasing need of providing proper zonal isolation during well cementing.
Based on application, the well cementing services market is segmented into onshore and offshore applications. Of these, onshore was a larger category in the market during the historical period, contributing more than 80.0% revenue in 2017. The increasing well operations in onshore areas coupled with the growing demand for oil and gas is estimated to increase the use of these services in onshore activities.
Globally, North America has been leading the well cementing services market, which is attributed to the increasing drilling activities in deep water and onshore wells, especially in the U.S. Increasing drilling activities in shale and tight gas reserves in the U.S. are expected to drive the market growth in the region during the forecast period.
The region has abundance of unconventional oil and gas, and the U.S. is the only country producing commercially significant volumes of these resources from shale reserves in the current scenario.
Explore Report Description At :: https://www.psmarketresearch.com/market-analysis/well-cementing-services-market
Some of the major players operating in the global well cementing services market are Consolidated Oil Well Services LLC, Nine Energy Service Inc., Gulf Energy SAOC, Magnum Cementing Services Ltd., Calfrac Well Services Ltd., China Oilfield Services Limited, Baker Hughes, a GE Company, Schlumberger N.V. (Schlumberger Limited), Halliburton Company, and Weatherford International PLC.
GLOBAL WELL CEMENTING SERVICES MARKET SEGMENTATION
By Service Type
- North America
- Rest of Europe
- Rest of APAC
- Central and South America (CSA)
- Rest of CSA
- Middle East and Africa (MEA)
- Saudi Arabia
- Rest of MEA
Office No. B-13,
Noida - 201301
Uttar Pradesh, India
P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.