Well Intervention Market Enhancement in Energy and Power sector 2018 to 2023


The global well intervention market is projected to reach a size of USD 11.00 billion by 2023 from an estimated USD 8.5 billion in 2018, at a CAGR of 5.35%. The study involved 4 major activities in estimating the current size for the well intervention market. Exhaustive secondary research was done to collect information on the peer and parent markets.
To provide an in-depth understanding of the competitive landscape, the report includes the profiles of companies such as GE Oil & Gas (U.K.), Baker Hughes Incorporated (U.S.), Halliburton Company (U.S.), Schlumberger Limited (U.S.), Weatherford International plc (Switzerland), Expro International Group Holdings Ltd. (U.K.), Archer Limited (U.K.), Welltec International ApS (Denmark), TechnipFMC plc (U.K.), Trican Well Service Ltd. (Canada), Basic Energy Services, Inc. (U.S.), Superior Energy Services, Inc. (U.S.), Key Energy Services, Inc. (U.S.), and Lupatech SA (Brazil), among others. The dominant players are trying to gain a foothold in developing economies and are adopting various methods to grab the market share.

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Scope of the report
Report Metric
Details
Market size available for years
2016–2023
Base year considered
2017
Forecast period
2018–2023
Forecast units
Value (USD)
Segments covered
Service, Application, Intervention Type and Region
Geographies covered
North America, Asia Pacific, South and Central America, Europe, Middle East, and Africa
Companies covered
Baker Hughes a GE Company (US), Halliburton (US), Schlumberger (US), Weatherford (Switzerland), Expro Group (UK), Archer (UK)
The report segments the Well intervention market, by application, into onshore and offshore. The offshore segment is expected to grow at the highest CAGR during the forecast period. Growth is majorly driven by the increasing deep-water drilling and production activities and an increase in the number of maturing subsea wells. The well intervention market in Africa is expected to be the fastest growing regional market during the forecast period. The African region is experiencing continuous oil & gas field development, which triggers the need for well intervention/workover services during the forecast period. These investments are expected to offer lucrative opportunities for the well intervention manufacturers during the forecast period.
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Key questions addressed by the report:
1.    The report identifies and addresses key markets for Well intervention market, which would help manufacturers review the growth in demand.
2.    The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3.    The report will help key players understand the strategies of their competitors better and make better strategic decisions.
4.    The report addresses the market share analysis of key players in the Well intervention market. With the help of this information, companies can enhance their revenues in the respective markets.
5.    The report provides insights about emerging geographies for Well intervention, and the entire market ecosystem can gain competitive advantage from such insights.
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North America: The leading market for Well Intervention
North America is currently the largest market for well intervention. In 2017, the US accounted for the majority share in North America. Ongoing shale gas revolution is the major factor driving the well intervention market in the US. North America is the largest producer and consumer of oil & gas in the global market. The region houses oil & gas proven reserves with major producing fields at Alaska, Gulf of Mexico, and Canada. All these factors are likely to drive the well intervention market in the region.
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