Global Horizontal Completions Market 2019-2023 | 8% CAGR Projection Over the Next Five Years | Technavio

Technavio has announced its latest market research report titled global horizontal completions market 2019-2023. (Graphic: Business Wire)

LONDON--()--The horizontal completions market size is expected to post a CAGR of close to 8% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

The rebound in active rig count owing to oil price recovery is one of the major reasons for the horizontal completions market growth. The number of active rigs in both onshore and offshore drilling has increased significantly, owing to the gradual recovery of global crude oil prices. The growth in drilling activities has led to a rise in the demand for oil and gas rigs, thereby stimulating the demand for drilling-related equipment such as horizontal completions equipment.

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As per Technavio, advances in zonal isolation in horizontal wells will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Horizontal Completions Market: Advances in Zonal Isolation in Horizontal Wells

Oil companies are increasingly focusing on developing new and better technologies to maintain the integrity of oil and gas wells and improve process efficiency. Zonal isolation, which is carried out to preserve the integrity of the well, has been witnessing several advances over the last few years. For instance, one of the prominent vendors introduced Swell Technology systems, which is an effective solution for meeting zonal isolation requirements. Such technological advances in zonal isolation will improve production and boost the use of horizontal drilling. This will subsequently lead to the growth of the horizontal completions market during the forecast period.

“Apart from the advances in zonal isolation in horizontal wells, other factors such as the increase in upstream deepwater and ultra-deepwater projects, and the growing use of big data analytics to increase production efficiency of oilfields will have a significant impact on the growth of the horizontal completions market size during the forecast period,” says a senior analyst at Technavio.

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Horizontal Completions Market: Segmentation Analysis

This market research report segments the horizontal completions market by application (onshore, and offshore), and geographic regions (North America, Europe, APAC, MEA, and South America).

The North American region led the horizontal completions market in 2018, followed by APAC, Europe, MEA, and South America, respectively. The growth of the horizontal completions market share in North America can be attributed to the increase in oil and gas production output of countries such as the US and Canada. The development of horizontal drilling techniques for shale extraction and government support for promoting E&P activities of unconventional energy sources are factors that have also contributed to the market expansion in this region.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Release Summary

The horizontal completions market size is expected to post a CAGR of close to 8% during the period 2019-2023, according to the Technavio


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200