The completion equipment means all equipment required to make a well fully prepared for oil and gas production. The well completion involves steps like well casing, perforating, gravel packing, tubing and installing well head and lifting equipment. Completion and production consists of cementing, stimulation, well intervention, pressure control, pipeline and process services and completion services.
The services include installation, maintenance, repairs and testing services also.For this purpose, several equipments like safety valves, sand control tools, liner hangers and packers are required.
Different players are entering the oil exploration market with huge capital and they require completion equipment. With the development of non-conventional and offshore oil exploration methods, the global market for completion equipment will be one of the fasted growing markets in the world.
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The market drivers for completion equipment are increased energy demand, increased offshore exploration activity around the world and several operators trying to find new oil and gas reserves. Exploration of oil and gas and extraction of hydrocarbons from deep sea, arctic region and shale reserves is on the rise. Such explorations require technologically advanced completion equipment and therefore opportunities are many for the right players.
There is a significant shift from conventional oil exploration methods to non conventional methods. Oil and gas exploration market and completion equipment market are directly related to each other and the rise and fall in any of the two will have an impact on the other. Fluctuating crude prices is one such factor.
1) By Type
Sand control tool
Multi- stage fracturing tools
2) By Application
Regional/ Geographic analysis
North America dominates the well completion equipment and services market and Africa is expected to grow at the highest rate.Asia- pacific exploration activity is at an all time high from the last 4-5 years. This growth is led by China due to shale revolution. In the North Sea, the exploration activity in the deep water needs sophisticated equipment and technology and therefore the oil and gas exploration activity in Europe is progressing at a moderate speed. Netherland and Norway offer good opportunity for tubular goods.
The growth in the North America is due to shale revolution and the presence of large drilled but not completed (DUC) wells especially in USA. Deep water discoveries in South America and Africa will propel the growth in demand of the well completion equipment and services market in these regions.
Synchronizing with growing investment in energy and power sector
Possibilities of Shale gas production in the Asia- Pacific countries
Developing countries like India and Brazil will enhance the market demand
Availability of cheap labor in countries like China and India.
Technological advancements in the machinery and processes
Ample oil and gas resources will attract global players
Depleting oil reserves
High initial investments
Lack of skilled labor
Fluctuating prices of crude
National Oilwell Varco
NCS Multistage LLC
Report Contents Regional Analysis Report Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
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Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
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Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
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