LONDON--(BUSINESS WIRE)--The global sand control systems market size is poised to grow by USD 418.62 million during 2020-2024, progressing at a CAGR of almost 3% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
One of the primary factors that is driving the growth of the Sand Control Systems Market is the growth in oil rig count. The global rig count is rising with a gradual increase in onshore and offshore projects. With the stabilization in crude oil prices and growing rig count, the exploration and drilling projects that were put on hold, are likely to resume. This will eventually result in the growth of this market.
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Report Highlights:
- The major sand control systems market growth will come from the onshore application segment, and it is also expected to continue dominating the sand control systems market share.
- APAC was the largest sand control systems market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the increase in industrialization and urbanization
- The global sand control systems market is fragmented. 3M Co., Baker Hughes Co., Halliburton Co., Mitchell Industries, National Oilwell Varco Inc., Oil States International Inc., Packers Plus Energy Services Inc., Schlumberger Ltd., Superior Energy Services Inc., and Weatherford International Plc, are some of the major market participants. To help clients improve their market position, this sand control systems market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global sand control systems market 2020-2024 is expected to have a negative impact. As the pandemic spreads in some regions and plateaus in other regions, we continue to reevaluate the impact on businesses and update our report forecasts.
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Changing business models of upstream oil and gas companies will be a Key Market Trend
With the gradual stabilization in the oil and gas prices, the oil and gas majors are willing to resume exploration and production activities that were reduced during the slump years. This will result in the changing of business modules to increase production and the development of new business models will help sustain during the crude oil volatility phase. These approaches will help in the growth of the sand control systems market during the forecast period.
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Sand Control Systems Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist sand control systems market growth during the next five years
- Estimation of the sand control systems market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the sand control systems market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of sand control systems market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Onshore - Market size and forecast 2019-2024
- Offshore - Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Competitive scenario
- Vendor landscape
- Landscape disruption
- Industry risks
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- 3M Co.
- Baker Hughes Co.
- Halliburton Co.
- Mitchell Industries
- National Oilwell Varco Inc.
- Oil States International Inc.
- Packers Plus Energy Services Inc.
- Schlumberger Ltd.
- Superior Energy Services Inc.
- Weatherford International Plc
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
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 17,000 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.
