London, 01 December 2014 – Demand from the oil and gas sector has resulted in growth of the Global Well Completion Equipment Market, which is expected to post a CAGR of 11.45 percent from 2015-2019, says research firm TechNavio.
This demand will encourage large investments in advanced, efficient well completion technologies, which will help ensure that the oil and gas sector is able to meet production requirements.
About the Report
The new report from TechNavio emphasizes increased investment and technological advances in well completion equipment.
These advancements will help improve production rates and well management, redevelop existing oilfield wells, and facilitate production from unconventional resources.
“Advancement in intelligent well completion technology will significantly increase the efficiency, control and monitoring of the well,” says Faisal Ghaus, Vice President of TechNavio.
“Advanced stimulation techniques will increase the overall recovery and redevelopment of the maturing well and also facilitate the production from unconventional resources like shale formations.”
Market vendors are also increasing their investments in R&D, which is another factor that will likely improve the reliability and efficiency of well completion equipment. These developments will help the oil and gas sector increase production volume while decreasing associated costs and risk.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2019
Market Growth Drivers:
- Increase in Global Oil and Gas Demand
- For a full detailed list, view our report.
Market Challenges:
- Political Instability
- For a full detailed list, view our report.
Market Trends:
- New Advances in Technology
- For a full detailed list, view our report.
Key Vendors:
- Baker Hughes
- Halliburton
- Schlumberger
Other Prominent Vendors:
- F Casewell Services
- Crossover
- Map Oil Tools
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
