Sand Control Systems Market is projected to reach USD 2.84 Billion by 2022.

According to the new market research Sand Control Systems Market by Application (Onshore and Offshore), Techniques (Gravel Pack, Frac Pack, Sand Screens, Inflow Control Devices), Well Completions Type (Cased Hole and Open Hole), and Region - Global Forecasts to 2022, published by MarketsandMarkets™, The market is estimated to grow from a value of USD 2.36 Billion in 2017 to USD 2.84 Billion by 2022, at a CAGR of 3.78%, from 2017 to 2022. The global market is set to witness a significant growth due to the continued growth in number of wells drilled, increasing drilling activities, and rising oil & gas production.

The gravel pack sub-segment of the technique segment led the sand control systems market in 2016 and is projected to dominate the market during the forecast period. Increasing drilling of conventional oil and gas fields in onshore regions across the world is the key reason for largest market share of gravel pack segment in 2017. The inflow control devices segment is expected to grow at the fastest rate during the forecast period. Increasing life span of the well and reducing the expenditure are the main factors driving the inflow control technique segment in the sand control systems market.

market has been analyzed with respect to six regions, namely, Asia Pacific, North America, Europe, South America, the Middle East, and Africa. The market in Asia Pacific led the global sand control systems market in 2016. Growing economy of developing countries such as Australia and China, growing governmental support in oil & gas industry, and increasing private investments to support new drilling activities are expected to drive the market in Asia Pacific.

Based on the application segment, the sand control systems market is segmented into offshore and onshore. The onshore sub-segment led the sand control systems market in 2016 and is projected to dominate the market during the forecast period due to the vast presence of oil & gas reserves and increased dependency on conventional oil & gas. The offshore application segment is expected to grow at the fastest rate during the forecast period.

Based on well type, the market is segmented into cased hole and open hole well completions. Cased hole well completions held the largest market share in 2016 and is projected to dominate the market during the forecast period due to its retrieving logging measurements in the well casing during the well completion operations.

To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the market. The key players include Baker Hughes (US), Halliburton (US), Schlumberger (US), Weatherford (Switzerland), and National Oilwell Varco (US), among others.

The onshore sub-segment of the application segment led the sand control systems market in 2016 and is projected to dominate the market during the forecast period. Presence of vast onshore oil & gas wells and increased dependency on conventional oil & gas are the major factors for largest market share of the onshore segment in the sand control systems market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact: Mr. Shelly Singh MarketsandMarkets™ Inc. 630 Dundee Road Suite 430 Northbrook, IL 60062 Usa : 1-888-600-6441 sales@marketsandmarkets.com