1 / 5

Well Cementing Market Size and Growth Forecast to 2024

Globally, the North American well cementing market generated the maximum revenue in 2018. This is attributed to the increasing investments in the oil & gas sector in North America, especially in well drilling for extraction of shale gas in Canada and the U.S. Extraction of shale gas in the U.S. is expected to add significantly to the market size.

psmarket
Download Presentation

Well Cementing Market Size and Growth Forecast to 2024

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Well Cementing Market Size and Growth Forecast to 2024 1 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  2. The global well cementing market generated a revenue of $7,577.6 million in 2018, and it is predicted to reach a value of $10,065.4 million by 2024. The market will advance at a CAGR of 4.7% between 2019 and 2024 (forecast period). The market is being driven by the surging exploration and production (E&P) activities in conventional as well as unconventional gas and oil reserves in order to meet the soaring demand for energy products such as gas oil, gasoline, fuel oil, heating oil, aviation turbine fuel, piped natural gas, compressed natural gas, and liquified petroleum gas. Well cementing is extensively used in the well completion process. Across the world, the requirement for well completion is growing rapidly, owing to the soaring E&P activities in conventional and unconventional gas and oil reserves, on account of the recovery in crude oil prices in 2018. Moreover, the oil and gas industry is predicted to recover even more in the coming years, with huge investments being made in E&P activities in countries such as Russia, the U.S., Brazil, and China. Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/well-cementing- services-market/report-sample The expansion of the oil and gas industry will push up the demand for well cementing services in the coming years. Besides, the surging oil and gas E&P activities being conducted in the Arctic oil and gas reserves are also propelling the growth of the well cementing market. The Arctic region has several large offshore and onshore oil and gas reserves. As per the United States Geological Survey (USGS), the Arctic region contains nearly 90.0 billion barrels of undiscovered oil, 44.0 billion barrels of undiscovered natural gas liquid, and 1,669 trillion cubic feet of gas. Currently, Canada, Norway, Russia, and the U.S. are conducting large-scale drilling operations in the region, as they have direct access to the Arctic Ocean. The well cementing market is categorized, on the basis of service type, into remedial, primary, and others (advanced cementing). Out of these, the primary cementing category contributed the highest revenue to the market in 2018. When well type is taken into consideration, the market is divided into shale gas, gas, and oil categories. Amongst these, the shale gas category is predicted to exhibit the highest growth rate throughout the forecast period. This is attributed to the discovery of various shale gas reserves in the U.S. and the huge E&P investments being made for extracting shale gas. Geographically, North America dominated the well cementing market in 2018, as per the observations of the market research company, P&S Intelligence. This was due to the huge investments made in the oil and gas sector, especially in shale gas extraction in Canada and the U.S. 2 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  3. Hence, it is safe to say that the market will register huge expansion in the upcoming years, primarily because of the increasing oil and gas E&P activities, especially in the Arctic region, on account of the soaring requirement for energy products across the world. Browse full report at: https://www.psmarketresearch.com/market- analysis/well-cementing-services-market Market Segmentation by Service Type Primary Remedial Others Market Segmentation by Well Type Oil Gas Shale Gas Market Segmentation by Application Onshore Offshore Market Segmentation by Geography North America Well Cementing Market • • • • • • • • • oBy service type oBy well type oBy application oBy country – U.S. and Canada Europe Well Cementing Market • oBy service type oBy well type oBy application oBy country – Norway, U.K., Russia, and Rest of Europe Asia-Pacific (APAC) Well Cementing Market • oBy service type oBy well type oBy application oBy country – China, India, Indonesia, Malaysia, and Rest of APAC Latin America (LATAM) Well Cementing Market • oBy service type 3 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  4. oBy well type oBy application oBy country – Mexico, Brazil, Venezuela, Colombia, and Rest of LATAM Middle East and Africa (MEA) Well Cementing Market • oBy service type oBy well type oBy application oBy country – Saudi Arabia, U.A.E., Kuwait, Nigeria, Algeria, Angola, and Rest of MEA 4 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  5. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 5 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

More Related