Well Intervention Market Highlights

The well intervention market is expected to grow over the CAGR of around 3.5 % during the period 2017 to 2023. The growth of the well intervention market is driven by the increasing pressure on the oil field operators to increase the production of the hydrocarbons. The gradual depletion of the existing oil and gas natural reserves is leading to the increase in the use of well intervention services. The maturity of the existing oil and gas wells has increased the need for maintenance of oil wells to increase the productivity.

The well intervention industry is important to both the equipment manufacturers and the service operators. Owing to factors such as an increased demand for oil and the drop in replacement of depleting hydrocarbon reservoirs, the well intervention market is expected to experience a gradual increase in demand of well intervention.

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Segmentation

The global well intervention market has been segmented on the basis of services and applications. Based on services, the well intervention market has been segmented into logging & bottom hole survey, stimulation, artificial lift, re-perforation and others.

Based on applications, the well intervention market has been segmented into on-shore and off-shore. The off-shore application segment of the global well intervention market is projected to grow at the fastest rate owing to the high demand for well intervention services on the off-shore oil rigs due to the harsh environmental conditions.

Leading Players

The key players of global well intervention market are GE Oil & Gas (U.K.), Halliburton Company (U.S.), Schlumberger Limited (U.S.), TechnipFMC plc. (U.K.), Baker Hughes Incorporated (U.S.), Weatherford International plc. (Switzerland), Archer Limited (U.K.), Trican Well Service Ltd. (Canada), Superior Energy Services, Inc. (U.S.), Basic Energy Services, Inc. (U.S.) and Others.

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Market Research Analysis

The factors responsible for the growth of the global well intervention market include the use of well intervention services in shale as well as oil wells. The North America region is the largest market for well intervention. The U.S. market for well intervention is expected to be driven by the ongoing shale gas revolution in the region. The Africa market is experiencing continuous oil & gas field development, which is expected to boost the need for well intervention/work over services. Increasing production activities in the American offshore is expected to drive the well intervention market in the future. Asia-Pacific and Africa are the emerging regions in the well intervention market and are expected to demand well intervention services in the forecast period.

Scope of the Report

This study provides an overview of the global well intervention market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Well intervention Market by its service, application and region.

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