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According to a study published by Insure Insights, the global well intervention is anticipated to grow at a CAGR of 5.6% during the forecast period. A well intervention is an operation employed in oil or gas wells with the purpose of restoring or increasing the production. It was traditionally performed with drill rigs, but with considerable advancements in technologies over time, well construction and well head designs have modified, thereby well intervention to evolve as well as grow in demand. An oil or gas well requires intervention, attributing to many reasons such as changes in mechanical failure, reservoir characteristics, flow restrictions, and others.
Top Driver: Rising Demand for Energy and Growth in Oil & Gas Production
Factors driving the global well intervention market include rising demand for energy, growth in oil & gas production, and recent innovations in well interventions. Obtainable rich hydrocarbon reserves in both onshore and offshore basins and the high reliability of many economies on the oil and gas industry are estimated to drive the market in the coming future. Emerging regions are expected to witness significant development in the oil and gas fields, which will propel the need for well intervention services. Stringent government norms concerning oil & gas leaks, environmental & public health, and water contamination are major factors hindering the market. An increase in focus on the adoption of renewable energy is also a major restraint inhibiting the well intervention market.
Light Intervention is Estimated to Witness Significant Growth in the Forecast Period
The global well intervention market has been segmented into light intervention, medium intervention, and heavy intervention based on the type. The light well intervention market accounts for the largest market share. The surging demand to improve recovery rate from maturing oil & gas wells due to the rising pressure to meet the differences in demand and supply will propel the technology adoption. Other factors such as lowering of tools and sensors, including slick lines and the use of coiled tubing and wireline to prevent blockages, are some of the factors which will enhance the technology growth. Based on the services, the market is segmented into logging & bottom hole survey, stimulation, tubing, and others. Based on the application, the market is segmented into onshore and offshore.
The Emergence of Low-pressure Oil Wells to Benefit North America Market
North America is the largest market dominating the global well intervention market. Factors such as the emergence of low-pressure oil wells along with continuous rising in energy consumption will drive industry growth. In addition to this, the rising number of mature oil fields al growing focus toward shale reserves will accompany the business landscape.
Players to Focus on Well Intervention Market
The global well intervention market is estimated to stay fragmented in the forecast period owing to the new entrants. Major players operating in the market are HELIX ESG, Weatherford International Plc, National Oilwell Varco, Expro Group, GE, Deepwell AS, Hunting Energy Services, Oceaneering International, Inc., Archer, Basic Energy Services, Inc., Trican Well Service Ltd., Precision Drilling Corporation, and Superior Energy Services Inc.
Schlumberger Limited: In February 2018, Schlumberger Limited, a major player in the well intervention market, launched its motion-compensated intervention tower for advanced intervention operations on deep-water tension-leg platforms. The company acquired all the shares of Cameron in April 2016, with an objective to create technology driven growth.
Halliburton: In January 2018, Halliburton was assigned to develop and deliver integrated well intervention campaign, plugging nearly 20 offshore wells in Norway cost effectively.
Scope of the Report
By Type
By Services
By Application
By Region
Key Reasons to Purchase this Report
Table of Content
Chapter 2 Our Research Practice
Chapter 4 Covid-19 Impact Analysis
4.3 Key Factor Impact Analysis
Chapter 5 Global Smart Greenhouse Market Forces
5.2 Porter’s Five Forces Analysis
5.2.2 Threats From New Entrants
5.2.4 Threat From Substitute Product
Chapter 6 Global Smart Greenhouse Market -Industry Snapshots
6.1.1 Global Smart Greenhouse Market Value, 2019 – 2028, (US$ Bn)
6.2.2 Restraint/Challenges analysis
6.3 Supply Chain/Value Chain Analysis
Chapter 7 Global Smart Greenhouse Market Analysis, by Type
7.2 Key Findings for Smart Greenhouse Market- By Type
7.2.1 Smart Greenhouse Market- Hydroponics
7.2.2 Smart Greenhouse Market- Non-hydroponics
Chapter 8 Global Smart Greenhouse Market Analysis, by Component
8.2 Key Findings for Smart Greenhouse Market- By Component
8.2.1 Smart Greenhouse Market- HVAC Systems
8.2.2 Smart Greenhouse Market- LED Grow Lights
8.2.3 Smart Greenhouse Market- Control Systems & Sensors
Chapter 9 Global Smart Greenhouse Market Analysis, by End User
9.2 Key Findings for Smart Greenhouse Market- By End User
9.2.1 Smart Greenhouse Market- Retail Gardens
9.2.2 Smart Greenhouse Market- Commercial Growers
9.2.3 Smart Greenhouse Market- Research & Educational Institutes
9.2.4 Smart Greenhouse Market- Others
Chapter 10 Smart Greenhouse Market Analysis by Region
10.1 Key Findings for Smart Greenhouse Market- By region
10.2.1 Global Smart Greenhouse Market Analysis, By Type, 2019 – 2028
10.2.2 Global Smart Greenhouse Market Analysis, By Component, 2019 – 2028
10.2.3 Global Smart Greenhouse Market Analysis, By End User, 2019 – 2028
10.3 Smart Greenhouse Market – North America
10.3.5 North America Market, By Type
10.3.6 North America Market, By Component
10.3.7 North America Market, By End User
10.4 Smart Greenhouse Market – Europe
10.4.8 Europe Market, By Component
10.4.9 Europe market by, End User
10.5 Smart Greenhouse Market – Asia Pacific
10.5.6 Asia Pacific Market, By Type
10.5.7 Asia Pacific Market, By Component
10.5.8 Asia Pacific Market, By End User
10.6 Smart Greenhouse Market – SAMEA
10.6.2 Middle East & Africa (MEA)
10.6.5 South America, Middle East and Africa Market, By Type
10.6.6 South America, Middle East and Africa Market, By Component
10.6.7 South America, Middle East and Africa Market, By End User
Chapter 11 Market Competition Analysis
11.1 Market Share/Positioning Analysis
11.1.1 Market Positioning of Key Vendors, 2019
11.1.2 Key Strategies Adopted by the Leading Players
Chapter 12 Company Profiles- Snapshot
12.2 Argus Control Systems Limited
*More than 10 Companies are profiled in this Research Report*
*Financials would be provided on a best efforts basis for private companies”
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