Press Release

What are the Latest Trends in Well Intervention Market

Top Players in Well Intervention Market are Baker Hughes, a GE company, Halliburton, Helix Energy Solutions Group, C&J Energy Services, Expro, TechnipFMC, Superior Energy Services, Welltec, DeepWell AS.

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 2025.” As per the report in 2018, the global well intervention market was worth US$ 8+ Bn. The global well intervention market is expected to progress at a CAGR of 5.23% and reach US$ 12.5 Bn by the end of 2026.

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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.

Key Companies

  • Schlumberger
  • Baker Hughes, a GE company
  • Halliburton
  • Helix Energy Solutions Group
  • C&J Energy Services
  • Expro
  • TechnipFMC
  • Superior Energy Services
  • Welltec
  • DeepWell AS

Onshore Segment Emerged Dominant in the Global Well Intervention Market

In terms of application, onshore segment was leading the global market in 2018. However, the offshore segment is anticipated to witness high demand and grow at a relatively higher CAGR during the forecast period 2019-2026. Growth witnessed in this segment is attributable to the increasing investment in subsea oil and gas assets. This is likely to fuel the demand in the global well intervention market.

Increasing number of well intervention activities and rising number of active rigs are key factors expected to drive the global well intervention market during the forecast period 2019-2026. Moreover, discovery of new wells and rigs is also anticipated to give impetus to the global well intervention market.

On the flip side, the high cost associated with well intervention activities may restrain the global well intervention market during the forecast period.

“Market players should focus on investing in offshore assets. This will help improve the reservoir performance and overall life cycle of the well. This may also boost the global market,” said a lead analyst at Fortune Business Insights.

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Middle East and Africa to Expand at the Highest CAGR

North America was dominating the global well intervention market in 2018. The market in North America was worth US$ 3,268.3 Mn in 2018. Asia Pacific and Europe also held a significant share in the global

market. North America is expected to dominate the global market even during the forecast period. Increase in offshore activities in the Gulf of Mexico and North Sea will create growth opportunities for the well intervention market in North America. Additionally, in 2017 the U.S. accounted for 50% of the new well drilled, followed by China and other Asian nations. The Middle East and Africa, is expected to grow at a relatively higher CAGR owing to the increased investment inflow and huge budget aided from Gulf nations.

Some of the leading organizations operating in the global well intervention market are Schlumberger, Baker Hughes, Halliburton, HELIX ESG, National Oilwell Varco, Oceaneering International, Inc., Expro Group, Hunting Energy Services, Weatherford International Plc, Deepwell AS, Welltec, TechnipFMC, C&J Energy Services, Inc., Superior Energy Services, Inc., and Altus Intervention.

Key Segmental Overview:

  • By Source
  • By Type
  • By Process
  • By Geography

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.

Regional Analysis:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Table of Content

  1. Introduction

1.1. Research Scope

1.2. Market Segmentation

1.3. Research Methodology

1.4. Definitions and Assumptions

  1. Executive Summary
  2. Market Dynamics

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities

  1. Key Insights

4.1. Key Emerging Trends – For Major Countries

4.2. Key Developments: Mergers, Acquisition, Partnership, etc.

4.3. Latest Technological Advancement

4.4. Global Upstream Investment Scenario – By Regions

4.5. Insights on Regulatory Scenario

4.6. Porters Five Forces Analysis

  1. Global Well Intervention Market Analysis, Insights and Forecast, 2015-2026

5.1. Key Findings

5.2. Market Analysis, Insights and Forecast – By Service

5.2.1. Logging & Bottom Hole Survey

To be continued….!

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Ruby Arterburn

Ruby is leading the team writing for artificial intelligence. She is a newcomer in the organization and has already made her base and reputation with her hard work and her efficiency towards her field. Being a student of computer science it has become easier for her to understand the objectives and the expected results of this column. She is also an excellent cook, and now and then, and we get the opportunity to taste her deliciously baked cookies.

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