15 Jul 2015 11:07:05
Growing Sand Control Systems Markets in APAC and RoW to Propel Global Market at 8.18% CAGR
Sand Control Systems Market indicates that if these values hold true, the global sand control systems market will register a healthy CAGR of 8.18% from 2014 to 2020.While advancements in sand control techniques and potential as well as newly discovered oil and gas reserves have boosted the demand for sand control systems, challenges in maintaining the cost of sand control techniques with the overall economic viability of deepwater wells threatens to hamper the growth of the sand control systems market.
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By type of technique, the sand control systems market is divided into plastic consolidation, gravel packing, resin-coated gravel, standalone screens, frac pack, and others. Gravel packing is the most commonly used technique in offshore as well as onshore natural gas and crude oil wells and this segment enjoys the largest share of the overall sand control systems market owing to its low cost of implementation and high success rate. On the basis of geography, the global sand control systems market is segmented into North America, Europe, Asia Pacific, and Rest of the World. It is estimated that by the end of the forecast period in 2020, Asia Pacific will be the leading region for sand control systems. High demand for energy from countries such as Japan, China, and South Korea has resulted in increased drilling activities, especially in Indonesia, Australia, Malaysia, and Myanmar. Petroleum companies across major countries in Asia Pacific have been installing sand control systems at natural gas and crude oil wells to avoid damage to any equipment.
The sand control systems market in the Rest of the World region also possesses strong potential for growth by 2020 owing to recently discovered offshore fields in countries such as Tanzania, Egypt, and Mozambique. Rising drilling activities in deep and ultra deep water reserves in Latin America and West Africa is also anticipated to contribute to the development of the sand control systems market in the RoW region. Countries such as Venezuela, Brazil, Angola, and Nigeria are known to be rich in petroleum reserves and oilfield service companies in these countries are implementing sand control systems to ensure an optimal and continuous production process. Baker Hughes, Inc., Variperm (Canada) Limited, RPC, Inc., Superior Energy Services, Inc., Welltec A/S, Ceradyne, Inc., Schlumberger Limited., Halliburton Company, Weatherford International Ltd., and Grit Industries, Inc. are some of the noteworthy participants of the global sand control systems market. These players are profiled in the research report based on company and financial overview, business strategy, and recent developments in the field.
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Sand Control Systems Market: Technique Type Analysis
Resin coated gravel
Resin coated gravel
Others (High energy resin placement and selective completion practices)
Sand Control Systems Market: Regional Analysis
Rest of the World (RoW)
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