Completion Equipment and Services Market worth $17.9 Billion by 2019
The report "Completion Equipment Market by Type (Packers, Sand Control Tools, MultiStage Fracturing Tools, Liner Hangers, Smart Wells, Safety Valves, and Other) & Geography - Global Trends & Forecast to 2019", defines and segments the Completion Equipment & Services Market with an analysis and forecast of the global revenue. Browse >> 58 Data Tables 26 Figures 211 pages and in-depth TOC on â€œCompletion Equipment Market â€? http:// www.marketsandmarkets.com/Market-Reports/completions-tools-equipment-market-10119998.html
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The completion equipment & services market is likely to grow reasonably in the upcoming years. The long-term drivers of the completion equipment & services market are well-known. The onshore and offshore drilling and exploration activities are always associated with elevated danger and require large investment for the exploration and development of oil and gas. To increase efficiency in deep water and in ultra-deep water, arenas insist on state-of-the-art technology that reduces risk, increases completion efficiencies, and maximizes production. This increases the demand of high competent tools, equipment, and services in the market to reduce the risk associated with this market. The major drivers for the completion equipment & services market are increase in the production rate, new additions to recoverable reserves, energy strategy shift towards gas, and energy security by domestic supply. Strict environmental rules & regulations and plunge in the number of refineries are seen as major restraints to the completion equipment & services market. North America holds the major market share in the global completion equipment & services market.
The market has been estimated from the demand point of view. This report breaks the market into smaller service segments. In order to provide a deeper understanding of the competitive landscape, the report profiles 11 companies in the completion equipment & services market. The global completion equipment & services market will grow from an estimated $10.7 billion in 2014. This value is expected to increase to $17.9 billion by 2019, at a CAGR of 10.8% during the same period. North America is expected to lead the global completion equipment & services market with a share of more than 40%, in terms of value generation in 2014.
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