The Global Well Intervention Market will gain significantly from the increasing demand for oil and gas from offshore areas. Fortune Business Insights has recently announced publishing of a report, titled “Well Intervention Market Size, Share and Global Trend by Type (Light Intervention, Medium Intervention, Heavy Intervention), Service (Logging & Bottom Hole Survey, Tubing/Packer Failure & Repair, Stimulation, Remedial Cementing, Zonal Isolation, Sand Control, Artificial Lift, Fishing, RE-Perforation), Application (Onshore, Offshore) and Geography Forecast till 2028.” As per the report in 2018, the global well intervention market was worth USD 8+ Bn. The global well intervention market is expected to progress at a CAGR of 5.23% and reach USD 12.5 Bn by the end of 2028.
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In terms of type, light intervention held the highest share in the global well intervention market. Light intervention accounted for 58.8% of the global market in 2018. The popularity of light intervention is high among end users due to its less operational cost compared to heavy and medium intervention. However, the demand for heavy and medium intervention is likely to increase during the forecast period in response to the increasing well intervention activities.
To cater the constantly increasing demand for oil and gas, key market players are trying to increase the productivity of existing wells. This is likely to increase the growth rate in the global well intervention market.
- Baker Hughes, a GE company
- Helix Energy Solutions Group
- C&J Energy Services
- Superior Energy Services
- DeepWell AS
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Key Segmental Overview:
1. By Type
- Light Intervention
- Medium Intervention
- Heavy Intervention
2. By Service
- Logging & Bottom Hole Survey
- Tubing/Packer Failure & Repair
- Remedial Cementing
- Zonal Isolation
- Sand Control
- Artificial Lift
3. By Application
4. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Norway, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, Indonesia, Thailand and Rest of Asia Pacific)
- Latin America (Argentina, Venezuela, Mexico, Brazil and Rest of Latin America)
- Middle East & Africa (GCC, Algeria, Egypt, Nigeria and Rest of Middle East & Africa)
Key Industry Developments
In July 2019, TIOS has won a contract to provide wireline service across three light well intervention vessels.
In July 2019, Tatweer Petroleum has awarded multiple well intervention contract to National Energy Services Reunited Corporation in the kingdom of Bahrain.
In June 2019, C-Innovation, LLC and its family of companies has been awarded a contract to perform riserless light well intervention in Gulf of Mexico.
Fortune Business Insights provides a detailed evaluation of the global market by analyzing the factors driving the market. Besides this, it also discusses some of the economic trends prevailing in the energy and power industry. These trends are analyzed in the report to see an overall impact on the global market.
Increasing use of smart grids and smart metering are likely to help for the better management of power services. Better infrastructural facilities are also expected to encourage growth in the market.
The increased spending on oil and gas across the world is another factor likely to drive the Market. Rising investments in energy efficiency projects backed by governments may also stimulate growth in the market. The penetration of renewable sources is increasing, fueling demand for energy and which is expected to drive the Market.
The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive competition and maintain their stronghold.
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Table of Content
5. Global Well Intervention Market Analysis, Insights and Forecast, 2015-2028
5.1. Key Findings
5.2. Market Analysis, Insights and Forecast – By Service
5.2.1. Logging & Bottom Hole Survey
5.2.2. Tubing/Packer Failure & Repair
5.2.4. Remedial Cementing
5.2.5. Zonal Isolation
5.2.6. Sand Control
5.2.7. Artificial Lift
5.3. Market Analysis, Insights and Forecast – By Type
5.3.1. Light Intervention
5.3.2. Medium Intervention
5.3.3. Heavy Intervention
5.4. Market Analysis, Insights and Forecast – By Application
5.5. Market Analysis, Insights and Forecast – By Region
5.5.1. North America
5.5.3. Asia Pacific
5.5.4. Middle East & Africa
5.5.5. Latin America
6. North America Well Intervention Market Analysis, Insights and Forecast, 2015-2028
6.1. Key Findings
6.2. Market Analysis, Insights and Forecast – By Service
6.2.1. Logging & Bottom Hole Survey
6.2.2. Tubing/Packer Failure & Repair
6.2.4. Remedial Cementing
6.2.5. Zonal Isolation
6.2.6. Sand Control
6.2.7. Artificial Lift
6.3. Market Analysis, Insights and Forecast – By Type
6.3.1. Light Intervention
6.3.2. Medium Intervention
6.3.3. Heavy Intervention
6.4. Market Analysis, Insights and Forecast – By Application
6.5. Market Analysis, Insights and Forecast – By Country
7. Europe Well Intervention Market Analysis, Insights and Forecast, 2015-2028
7.1. Key Findings
7.2. Market Analysis, Insights and Forecast – By Service
7.2.1. Logging & Bottom Hole Survey
7.2.2. Tubing/Packer Failure & Repair
7.2.4. Remedial Cementing
7.2.5. Zonal Isolation
7.2.6. Sand Control
7.2.7. Artificial Lift
7.3. Market Analysis, Insights and Forecast – By Type
7.3.1. Light Intervention
7.3.2. Medium Intervention
7.3.3. Heavy Intervention
7.4. Market Analysis, Insights and Forecast – By Application
7.5. Market Analysis, Insights and Forecast – By Country
7.5.7. Rest of Europe
8. Asia Pacific Well Intervention Market Analysis, Insights and Forecast, 2015-2028
8.1. Key Findings
8.2. Market Analysis, Insights and Forecast – By Service
8.2.1. Logging & Bottom Hole Survey
8.2.2. Tubing/Packer Failure & Repair
8.2.4. Remedial Cementing
8.2.5. Zonal Isolation
8.2.6. Sand Control
8.2.7. Artificial Lift
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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