Well Intervention Market Insights with statistics and Growth
Prediction 2018 to 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.
To provide an in-depth understanding of the competitive landscape, the report includes the
profiles of companies such as GE Oil & Gas (U.K.), Baker Hughes Incorporated (U.S.), Halliburton
Company (U.S.), Schlumberger Limited (U.S.), Weatherford International plc (Switzerland), Expro
International Group Holdings Ltd. (U.K.), Archer Limited (U.K.), Welltec International ApS
(Denmark), TechnipFMC plc (U.K.), Trican Well Service Ltd. (Canada), Basic Energy Services, Inc.
(U.S.), Superior Energy Services, Inc. (U.S.), Key Energy Services, Inc. (U.S.), and Lupatech SA
(Brazil), among others. The dominant players are trying to gain a foothold in developing
economies and are adopting various methods to grab the market share.
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The logging & bottomhole survey segment is expected to hold the largest share of the Well
intervention market, by service type, during the forecast period.
The Logging & Bottomhole Survey segment led the well intervention market in 2018 and is
projected to have the largest market share during the forecast period. This growth is majorly
driven by the well intervention market in North America, due to shale gas revolution and
production of oil & gas from shale reserves in the region. It has gained more importance in
recent years with increased production of an unconventional resource shale in the Americas and
Asia Pacific as shale production fields require more scrutinizing due to rough working
environment.
The Offshore segment of the Well Intervention market, by application, is expected to grow
at the highest CAGR during the forecast period
The Offshore segment led the Well Intervention market in 2018 and is estimated to be the fastest
growing market during the forecast period. This growth is majorly driven by increasing deep
water drilling and production activities and an increase in the number of maturing subsea wells.
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