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Report
United States Well Completion Equipment and Services Market Report and Forecast 2024-2032
Market Report I 2024-02-12 I 166 Pages I EMR Inc.
United States Well Completion Equipment Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the United States well completion equipment market reached a value of USD 2.43 billion in 2023. Aided by the increasing complexity of drilling operations, the resurgence of shale oil and gas production, and the relentless pursuit of operational efficiency and environmental stewardship, the market is projected to further grow at a CAGR of 4.4% between 2024 and 2032 to reach a value of USD 3.59 billion by 2032.
Well completion equipment encompasses a broad array of tools and technologies designed for the final stages of well construction, preparing the well for production. This includes everything from packers, valves, and screens to sophisticated multi-stage fracturing systems. These technologies are crucial for ensuring the integrity of the well, optimising production, and minimising environmental impact.
The United States well completion equipment market demand is buoyed by several pivotal factors. The technological renaissance in hydraulic fracturing and horizontal drilling has unlocked vast reserves of shale oil and gas, necessitating advanced completion solutions to maximise recovery and minimise environmental footprint. Additionally, the push towards deeper and more complex reservoirs has demanded innovations in completion technologies to tackle the challenges associated with high-pressure and high-temperature environments.
Environmental regulations and social expectations are also influencing the United States well completion equipment market outlook. The industry faces increasing pressure to reduce its environmental impact, driving the adoption of technologies that minimise water usage, reduce flaring, and enhance well integrity to prevent leaks and spills.
Furthermore, the digital transformation of the oil and gas industry, with the integration of big data analytics, IoT devices, and AI, is revolutionising well completion practices. These technologies enable real-time monitoring and optimisation of completion operations, leading to safer, more efficient, and more productive wells.
The competitive landscape of the market is characterised by the presence of a mix of global oilfield service giants and specialised equipment manufacturers. This competition fosters a hotbed of innovation, with companies continuously striving to develop new technologies and improve existing ones to meet the evolving needs of the industry.
According to the United States well completion equipment market analysis, environmental considerations are increasingly driving the development of well completion technologies. There is a growing emphasis on reducing the environmental footprint of drilling and completion operations, with a focus on water conservation, emissions reduction, and the use of environmentally friendly chemicals in hydraulic fracturing fluids.
Looking ahead, the U.S. well completion equipment market is set to witness several exciting trends and opportunities. The continued innovation in multi-stage fracturing technologies and the development of intelligent completion systems, capable of remotely controlling and optimising production, promise to further enhance the efficiency and productivity of wells.
Market Segmentation
The market can be divided based on type, location of deployment, and region.
Market Breakup by Type
- Packers
- Sand Control Tools
- Multi-Stage Fracturing Tools
- Liner Hangers
- Smart Wells
- Safety Valves
- Others
Market Breakup by Location of Deployment
- Onshore
- Offshore
Market Breakup by Region
- New England
- Mideast
- Great Lakes
- Plains
- Southeast
- Southwest
- Rocky Mountain
- Far West
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States well completion equipment market. Some of the major players explored in the report by Expert Market Research are as follows:
- Weatherford International Plc
- Baker Hughes Company
- NOV Inc.
- National Energy Services Reunited Corp.
- Halliburton Energy Services, Inc.
- Schlumberger Ltd.
- Welltec A/S
- ChampionX Corp.
- Schoeller Bleckmann Oilfield Equipment AG
- Superior Energy Services, Inc.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Well Completion Equipment and Services Market Overview
8.1 Key Industry Highlights
8.2 North America Well Completion Equipment and Services Historical Market (2018-2023)
8.3 North America Well Completion Equipment and Services Market Forecast (2024-2032)
9 United States Well Completion Equipment and Services Market Overview
9.1 Key Industry Highlights
9.2 United States Well Completion Equipment and Services Historical Market (2018-2023)
9.3 United States Well Completion Equipment and Services Market Forecast (2024-2032)
10 United States Well Completion Equipment and Services Market by Type
10.1 Packers
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Sand Control Tools
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Multi-Stage Fracturing Tools
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Liner Hangers
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Smart Wells
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Safety Valves
10.6.1 Historical Trend (2018-2023)
10.6.2 Forecast Trend (2024-2032)
10.7 Others
11 United States Well Completion Equipment and Services Market by Location of Deployment
11.1 Onshore
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Offshore
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 United States Well Completion Equipment and Services Market by Region
12.1 New England
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Mideast
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Great Lakes
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Plains
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Southeast
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Southwest
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Rocky Mountain
12.7.1 Historical Trend (2018-2023)
12.7.2 Forecast Trend (2024-2032)
12.8 Far West
12.8.1 Historical Trend (2018-2023)
12.8.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter's Five Forces Analysis
13.2.1 Supplier's Power
13.2.2 Buyer's Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Weatherford International Plc
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Baker Hughes Company
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 NOV Inc.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 National Energy Services Reunited Corp.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Halliburton Energy Services, Inc.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Schlumberger Ltd.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Welltec A/S
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 ChampionX Corp.
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Schoeller Bleckmann Oilfield Equipment AG
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Superior Energy Services, Inc.
14.2.10.1 Company Overview
14.2.10.2 Product Portfolio
14.2.10.3 Demographic Reach and Achievements
14.2.10.4 Certifications
14.2.11 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Well Completion Equipment and Services Market: Key Industry Highlights, 2018 and 2032
2. United States Well Completion Equipment and Services Market: Key Industry Highlights, 2018 and 2032
3. United States Well Completion Equipment and Services Historical Market: Breakup by Type (USD Billion), 2018-2023
4. United States Well Completion Equipment and Services Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. United States Well Completion Equipment and Services Historical Market: Breakup by Location of Deployment (USD Billion), 2018-2023
6. United States Well Completion Equipment and Services Market Forecast: Breakup by Location of Deployment (USD Billion), 2024-2032
7. United States Well Completion Equipment and Services Historical Market: Breakup by Region (USD Billion), 2018-2023
8. United States Well Completion Equipment and Services Market Forecast: Breakup by Region (USD Billion), 2024-2032
9. United States Well Completion Equipment and Services Market Structure
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