“Completion Equipment & Services Market” report provides an in-depth research of market-based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Completion Equipment & Services Market is comprehensively prepared with main focus on the competitive landscape, geographical growth, segmentation, and market dynamics, including drivers, restraints, and opportunities. It also analyzes the current and future prospect of Completion Equipment & Services Market.
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Key Insights of Completion Equipment & Services Market:
- Complete in-depth analysis of the Completion Equipment & Services
- Important changes in market dynamics.
- Segmentation analysis of the market.
- Emerging segments and regional markets.
- Historical, on-going, and projected market analysis based on volume and esteem.
- Assessment of niche industry players.
- Market share analysis.
- Key strategies of major players
Completion Equipment & Services Market Segmentation by Top Key Players:
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Scope of the Report:
Key Market Trends:
Increasing Demand from Offshore Sector
– The offshore oil and gas industry is moving toward deeper waters, owing to declining shallow water reserves. The situation has resulted in growing distance from shore to the offshore platform.
– The deepwater oil breakeven prices have dropped by almost 30% during 2014-2017. The drop in oil prices was mainly driven by a change in operators’ policy to focus on cost cuttings. The average breakeven oil prices for deepwater projects are below USD 50 per barrel as of 2018.
– Due to the higher oil prices and lower breakeven prices, major operators, like Equinor SA, Shell PLC, and Exxon Mobil amongst others, have announced plans to invest in a number of deepwater projects. Owing to this development, the offshore oil and gas industry spending improved significantly, particularly during the second half of 2018.
– Brazil is one of the largest markets for deepwater oil and gas projects. The Brazilian oil and gas market is driven by successful regulatory changes and improving financials. The Brazilian government is aiming 2 MMb/d of additional oil production by 2027, mostly from deepwater areas. The country is expected to sanction 10 FPSOs, highest in the world, during 2019-2021.
– The increasing focus towards the deepwater oil & gas reserve is expected to help in recovery of the demand for completion equipment & services market.
North America Region to Dominate the Market
– North America is projected to dominate the demand for the completion equipment & services market. Technological innovations, such as such as horizontal drilling and hydraulic fracturing, have led to robust growth in the production of unconventional fossil fuels, notably, shale gas and tight oil, in the United States and Canada.
– The United States is expected to witness robust growth during the forecast period. The United States was one of the major oil importing countries. With shale revolution in the United States, the country has become the second largest oil producer, after Saudi Arabia.
– As of May 2019, the United States recorded 987 active rigs. US exploration & production companies have been investing significantly on drilling and well completion projects. Permian remains an attractive basin for the exploration & production activities in the country.
– In 2018, the trend of increasing drilling activity continued, but the trend has reversed 2019. Main cause of reversal in trend was the lack of oil pipeline takeaway capacity in key basins such as Permian and Eagle Ford.
– In 2019 and beyond, about 10,000 miles of pipeline is expected to come online in the US and Canada, in turn, reducing the impact of bottleneck in midstream sector, which is expected to drive the drilling and completion activity during the forecast period
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Completion Equipment & Services Market Covers Following Points in TOC:
- Chapter 1: Completion Equipment & Services Market Definition
- Chapter 2: Research Methodology of Completion Equipment & Services Market
- Chapter 3: Completion Equipment & Services Market Executive Summary
- Chapter 4: Completion Equipment & Services Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
- Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
- Chapter 6: Completion Equipment & Services Market Segmentation by Types, End-User, and Applications Forecast to 2024
- Chapter 7: Completion Equipment & Services Market Segmentation by Geographical Regions
- Chapter 8: Competitive Landscape of Completion Equipment & Services Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
- Chapter 9: Key Players for Completion Equipment & Services Market
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