What will be Happen with Well Intervention Market till 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.

The Well intervention market is dominated by a few major players that have a wide global presence. The leading players in the Well intervention market include BHGE (US), Halliburton (US), Schlumberger (US), and Weatherford (Switzerland).

The major strategies adopted by the players include new product launches, contracts & agreements, investments & expansions, and mergers & acquisitions. New product development was the most commonly adopted strategy from January 2015 to September 2018. Industry players also adopted mergers & acquisitions, which was the second most widely followed strategy during the same period.

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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)

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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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Recent Developments

• In September 2018, Schlumberger launched the CemFIT Shield mud-sealing cementing system, which is a zonal isolation technology. The technology helps in reducing the risk of fracturing fluid migration between the zones. The company intends to develop advanced technology to expand its product portfolio.
• In September 2018, BHGE was awarded an integrated services contract by Saudi Aramco for its Marjan field to provide drilling services, coiled tubing services, and drilling fluids engineering services. BHGE intends to expand its customer base through such contracts.
• In September 2018, Halliburton launched the next-generation wireline logging sensor as Xaminar Magnetic Resonance (XMR) to improve reservoir insights. XMR delivers more detailed information about 2D and 3D fluid characterization, carbonate pore size classification, unconventional analysis, and permeability.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues