Completion Equipment Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

  • Report ID: ME_00126525
  • Format: Electronic (PDF)
  • Publish Type: Publish
  • Number of Pages: 250
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Market Snapshot

CAGR:8.21
2023
2032

Source: Market Expertz

RND-Favicon
Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 8.21
Energy & Power-companies
Energy & Power-Snapshot

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Report Overview

Completion Equipment Market Analysis By Type (Packers, Sand Control Tools, Multi-Stage Fracturing Tools, Safety Valves, Smart Wells, Others), By Application (Onshore, Offshore), By Region Forecast to 2032:

The Completion Equipment Market is projected to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 5.72% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 12,345.67 million in market size. The expansion of this market is influenced by several key factors, including the increasing global energy demand, advancements in drilling technologies, and the need for efficient and safe oil and gas production. Completion equipment plays a crucial role in optimizing well performance and ensuring the safe extraction of hydrocarbons.

Completion Equipment Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Completion Equipment Market is the rising global energy demand. As the world's population grows and economies expand, there is an increasing need for oil and gas to meet energy requirements. Completion equipment, such as packers and safety valves, ensures efficient well production, contributing to meeting this demand.

Furthermore, advancements in drilling technologies, including horizontal drilling and hydraulic fracturing, are driving the adoption of completion equipment. These technologies enable the extraction of oil and gas from unconventional reservoirs, where completion equipment is essential for well completion and production optimization.

Trends:

An emerging trend in the Completion Equipment Market is the development of smart well technologies. Smart wells are equipped with sensors and monitoring systems that enable real-time data collection and remote well control. This trend enhances well management, reduces operational risks, and improves overall production efficiency.

Another trend is the increasing use of multi-stage fracturing tools in unconventional oil and gas plays. These tools enable the precise placement of hydraulic fracturing treatments, enhancing reservoir stimulation and hydrocarbon recovery.

Restraints:

One of the key challenges hindering the growth of the Completion Equipment Market is the volatility of oil and gas prices. Fluctuations in commodity prices can impact drilling and exploration activities, affecting the demand for completion equipment.

Market participants also face regulatory and environmental constraints, particularly in offshore drilling operations, which require compliance with stringent safety and environmental regulations.

Completion Equipment Market Segmentation By Type:

  • Packers: Packers are essential for isolating wellbore zones and preventing fluid migration, ensuring efficient hydrocarbon production.
  • Sand Control Tools: Sand control tools are used to prevent sand and other particulates from entering the wellbore, safeguarding equipment and optimizing production.
  • Multi-Stage Fracturing Tools: Multi-stage fracturing tools enable the hydraulic fracturing of reservoirs in multiple stages, improving reservoir stimulation.
  • Safety Valves: Safety valves are critical for well control, preventing blowouts and ensuring safe well operations.
  • Smart Wells: Smart wells are equipped with sensors and monitoring systems for real-time data collection and remote well control.

Completion Equipment Market Segmentation By Application:

  • Onshore: Onshore drilling and production activities utilize completion equipment for hydrocarbon extraction from land-based reservoirs.
  • Offshore: Offshore drilling and production operations, which take place in marine environments, rely on completion equipment for safe and efficient hydrocarbon extraction.

Regional Overview:


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North America is expected to be a key contributor to the global Completion Equipment Market, driven by the significant shale oil and gas production in the United States and Canada. The region's focus on unconventional resource development fuels the demand for completion equipment.

Asia-Pacific is another prominent market for completion equipment, with growing exploration and production activities in countries like China and India.

Completion Equipment Market Customer Landscape:

The Completion Equipment Market serves a diverse range of customers, including oil and gas exploration and production companies, drilling contractors, and well service providers. Customer decisions are influenced by factors such as well complexity, reservoir characteristics, and regulatory compliance.

Major Completion Equipment Market Companies:

Companies in the completion equipment market are continually innovating to provide efficient and reliable equipment solutions.

Example companies include:

  1. Schlumberger Limited
  2. Halliburton Company
  3. Baker Hughes
  4. Weatherford International
  5. National Oilwell Varco
  6. Tenaris S.A.
  7. TechnipFMC plc
  8. Aker Solutions
  9. NOV Completion & Production Solutions
  10. TETRA Technologies, Inc.

The competitive landscape analysis in the report provides insights into key market players, their technological advancements, and their market presence.

Segment Overview:

The Completion Equipment Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

  • Type Outlook (USD Million, 2019 - 2032):
    • Packers
    • Sand Control Tools
    • Multi-Stage Fracturing Tools
    • Safety Valves
    • Smart Wells
    • Others
  • Application Outlook (USD Million, 2019 - 2032):
    • Onshore
    • Offshore
  • Geography Outlook (USD Million, 2019 - 2032):
    • North America
      • United States
      • Canada
    • Europe
      • United Kingdom
      • Germany
      • France
      • Rest of Europe
    • Asia-Pacific
      • China
      • India
      • Japan
      • Rest of Asia-Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • Saudi Arabia
      • United Arab Emirates
      • Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Asia-Pacific completion equipment MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition   

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Asia-Pacific completion equipment MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Asia-Pacific completion equipment Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Asia-Pacific completion equipment Of Suppliers

    4.5.2. Asia-Pacific completion equipment Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. Asia-Pacific completion equipment MARKET BY deployment landscape

SIGHTS & TRENDS                                                               

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Onshore

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Offshore

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Asia-Pacific completion equipment MARKET BY End user INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 End user 1

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 End user 2

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4 End user 3

    6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Asia-Pacific completion equipment MARKET REGIONAL OUTLOOK

7.1. Asia-Pacific completion equipment Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Asia-Pacific completion equipment Market Estimates And Forecast, 2016 – 2027 (USD Million)

    7.2.2. North America Asia-Pacific completion equipment Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Asia-Pacific completion equipment Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Asia-Pacific completion equipment Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Asia-Pacific completion equipment Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Asia-Pacific completion equipment Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Asia-Pacific completion equipment Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Asia-Pacific completion equipment Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Asia-Pacific completion equipment Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Asia-Pacific completion equipment Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Asia-Pacific completion equipment Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Asia-Pacific completion equipment Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Asia-Pacific completion equipment Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Asia-Pacific completion equipment Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Asia-Pacific completion equipment Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Asia-Pacific completion equipment Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Asia-Pacific completion equipment Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Asia-Pacific completion equipment Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Asia-Pacific completion equipment Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Asia-Pacific completion equipment Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Asia-Pacific completion equipment Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Asia-Pacific completion equipment Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Asia-Pacific completion equipment Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Asia-Pacific completion equipment Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Asia-Pacific completion equipment Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Asia-Pacific completion equipment Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Asia-Pacific completion equipment Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Asia-Pacific completion equipment Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Asia-Pacific completion equipment Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Asia-Pacific completion equipment Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Asia-Pacific completion equipment Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Asia-Pacific completion equipment Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Asia-Pacific completion equipment Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Asia-Pacific completion equipment Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Asia-Pacific completion equipment Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Asia-Pacific completion equipment Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Asia-Pacific completion equipment Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Asia-Pacific completion equipment Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Asia-Pacific completion equipment Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Asia-Pacific completion equipment Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Asia-Pacific completion equipment Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Asia-Pacific completion equipment Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Asia-Pacific completion equipment Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Asia-Pacific completion equipment Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Asia-Pacific completion equipment Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Asia-Pacific completion equipment Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Asia-Pacific completion equipment Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Asia-Pacific completion equipment Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Asia-Pacific completion equipment Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Asia-Pacific completion equipment Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Asia-Pacific completion equipment Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Asia-Pacific completion equipment Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Asia-Pacific completion equipment Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Asia-Pacific completion equipment Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Asia-Pacific completion equipment Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Asia-Pacific completion equipment Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Asia-Pacific completion equipment Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 Schlumberger Ltd

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2 Halliburton Company

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3 Baker Hughes Company

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4 Weatherford International plc

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5 China Oilfield Services Ltd

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6 Company 6

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

9.7 Company 7

   9.7.1. Company Overview

    9.7.2. Financial Performance

    9.7.3. Product Insights

    9.7.4. Strategic Initiatives

9.8 Company 8

    9.8.1. Company Overview

    9.8.2. Financial Performance

    9.8.3. Product Insights

    9.8.4. Strategic Initiatives

9.9 Company 9

    9.9.1. Company Overview

    9.9.2. Financial Performance

    9.9.3. Product Insights

    9.9.4. Strategic Initiatives

9.10 Company 10

    9.10.1. Company Overview

    9.10.2. Financial Performance

    9.10.3. Product Insights

    9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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