DUBLIN--(BUSINESS WIRE)--The "Global Well Intervention Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The upstream oil & gas activity in 2017 showed sign of recovery from the downturn and in 2018 the outlook is expected to be more promising.
Hydraulic fracturing market is expected to register a CAGR of more than 5% during the forecast period 2018-2023, which in turn, propel the well intervention market. Currently, the United States is the leading player in hydraulic fracturing, but several other countries, like Argentina, Canada, and China are expected to draw significant attention for hydraulic fracturing during the forecast period, thereby driving the market.
Brazil and Argentina are important countries in South America's oil & gas industry and accounts for 47% of rig count and 43% of crude oil production in the region. The new government in both the countries have made the oil & gas business more attractive, and the disinvestment scenario has come to an end. The Argentine government is planning to eliminate natural gas subsidies by 2022 and increase the prices for upstream producers, to attract sufficient investment in production.
As of February 2018, the United States has 968 active rigs and more than a million producing well, and is one of the largest markets for well intervention in the world. Drilling activity in the United States in 2018 seems to be positive with the addition of 51 active rig count in the first 40 days of 2018.
- Schlumberger Limited
- Weatherford International plc
- Baker Hughes A GE Co.
- Halliburton Company
- National Oilwell Varco
- Superior Energy Services Inc.
- Expro Group
- Odfjell Well Services
- Axis Well Technology
Key Topics Covered:
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Supply Chain Analysis
6. Industry Attractiveness - Porter's Five Forces Analysis
7. Market Segmentation and Analysis
8. Regional Market Analysis
9. Key Company Analysis
10. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/kvpvwk/global_well?w=4