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Well Cementing Services Market worth $21.7 Billion by 2019
The report "Well Cementing Services Market by Type (Primary, Remedial & Others), by Application (Onshore & Offshore) and Casing Equipment Market by Application (Onshore & Offshore) - Global Trends and Forecasts to 2019", defines and segments the market with regional forecast and segment revenue estimates up to 2019.
Browse 63 market data tables and 46 figures spread through 185 pages and in-depth TOC on "Well Cementing Services Market by Type (Primary, Remedial & Others), by Application (Onshore & Offshore) and Casing Equipment Market by Application (Onshore & Offshore) - Global Trends and Forecasts to 2019".
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Top market players from the industry segment have been studied on the basis of geographic and business revenue. The companies’ top developments and key strategies have been analyzed in order to track their contributions to this particular market. Cementing is an important part of the well completion process and it protects and seals the wellbore. The Well Cementing Services market is expected to grow at a projected CAGR of 10.9% for the forecast period 2014 - 2019, generating revenue of $21,747.3 Million in 2019.
Source: MarketsandMarkets Analysis
North America: The Largest Market for Well Cementing Services
The Well Cementing Services market in North America is highly competitive. Also, the requirement for Well Cementing Services is rising in the region due to the presence of a large number of aged and mature wells. Due to the increasing energy demand, oil and gas targets are becoming difficult to find which can be achieved by tight gas and shale gas. which drive the demand for Well Cementing Services. The U.S market in North America is the largest and its shale boom is expected to further drive the market for Well Cementing Services. The global pressure pumping market is growing at around 25% per year, especially due to the booming tight oil and gas industry in North America.
Offshore Well Cementing: Largest Growing Market by Cementing Service Application
The offshore Well Cementing Services market is estimated to grow at a CAGR of 12.4% from 2014 to 2019. As the exploration and production activities are venturing into deeper waters, the key market players operating in this industry are compelled to find innovative ways to avail of the new opportunities arising in the offshore well cementing segment. Halliburton (U.S.), Schlumberger (U.S.), and Baker Hughes (U.S.) are the key players providing Well Cementing Services. Currently, there are 149 new rigs under construction, which, when completed, will provide an opportunity for these key players to gain more market share and introduce new offshore cementing units worldwide.
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