London, 16 February 2015 – Increased demand for oil and gas worldwide has spurred growth in the Global Oil and Gas Cementing Services Market, which will post a CAGR of 9.44 percent from 2014-2019, says research firm TechNavio.
The expansion of oil and gas exploration and production activities is expected to stimulate the growth of this market. The demand for oil and gas will encourage high investment in state-of-the-art technology to increase the efficiency of cementing services, thus ensuring continuous oil production.
“As oil reserves decline worldwide, cementing services such as primary and remedial cementing services will ensure the supply-demand balance by enhancing access to oil and gas in tight and previously inaccessible formations,” says Faisal Ghaus, Vice President of TechNavio.
The latest report by TechNavio draws attention to the growing need for energy security in various countries. Cementing services are necessary for the completion and production of oil and gas wells, which are the major sources of energy.
“Advanced and efficient cementing services can aid oil and gas production significantly and assist in reducing the supply-demand imbalances,” says Ghaus.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
- Global Pressure Pumping Market in Oil and Gas Industry 2015-2019
- Global Water Management Services Market for the Oil and Gas Industry 2015-2019
https://www.technavio.com/%3Cp%3E%3Cstrong%3EAbout%20TechNavio%3C/strong%…
