HOME Top Market Reports Intelligent Completion Market by Application (Onshore & Offshore), Component (Hardware & Software), Type (Complex & Simple), Function (Downhole Monitoring & Control System, Surface Control System, and Communication), and Region - Global Forecast to 2023

Intelligent Completion Market by Application (Onshore & Offshore), Component (Hardware & Software), Type (Complex & Simple), Function (Downhole Monitoring & Control System, Surface Control System, and Communication), and Region - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: August 2018
Report Code: EP 6526

 

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The global intelligent completion market was valued at USD 1.53 billion in 2017 and is projected to reach USD 2.16 billion by 2023, at a CAGR of 6.05% during the forecast period.

The years considered for the study are as follows:

  • Base Year: 2017
  • Estimated Year: 2018
  • Projected Year: 2023
  • Forecast Period: 2018–2023

The base year considered for company profiles is 2017. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

  • To define and segment the intelligent completion market with respect to application, component, technology, function, and region
  • To provide detailed information about major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the intelligent completion market with respect to individual growth trends, future expansions, and contributions to the market
  • To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
  • To forecast the growth of the intelligent completion market with respect to the major regions (North America, Europe, Asia Pacific, Middle East, Africa, and South America)
  • To strategically profile key players and comprehensively analyze their market rankings and core competencies
  • To analyze competitive developments such as new product development, mergers & acquisitions, expansions & investments, partnership & collaboration, and contracts & agreements, in the intelligent completion market

Research Methodology

This research study involved the use of extensive secondary sources, directories, journals on power generation technologies, and other related rental markets; newsletters and databases such as Hoover’s, Bloomberg, Businessweek, and Factiva, among others, to identify and collect information useful for a technical, market-oriented, and commercial study of the global intelligent completion market. The primary sources include several industry experts from the core and related industries, vendors, preferred suppliers, technology developers, alliances, and organizations related to all the segments of this industry’s value chain.  The research methodology has been explained below.

  • Study of annual revenues and market developments of major players providing intelligent completion
  • Analysis of the major technologies and applications of the intelligent completion market
  • Assessment of future trends and growth of the intelligent completion market on the basis of investments in onshore and offshore applications
  • Study of contracts & developments related to the intelligent completion market by key players across different regions
  • Finalization of the overall market sizes by triangulating the supply-side data, which includes product developments, supply chains, and annual revenues of companies manufacturing intelligent completion market across the globe  

After arriving at the overall market size, the intelligent completion market was split into several segments and subsegments. The figure given below illustrates the breakdown of primary interviews conducted during the research study on the basis of company type, designation, and region.

Intelligent Completion Market

To know about the assumptions considered for the study, download the pdf brochure

Major players operating in the intelligent completion market include Schlumberger (US), Halliburton (US), BHGE (US), Weatherford (Switzerland), and National Oilwell Varco (US).

Target Audience:

  • Rig manufacturers and suppliers
  • Drilling and completions companies
  • Exploration and Production companies
  • Oilfield service provider companies
  • National and international drilling associations

Scope of the Report:

By Type

  • Simple Intelligent Well Completion
  • Complex Intelligent Well Completion

By Function

  • Downhole Control System
  • Downhole Monitoring System
  • Surface Control System
  • Communication Technology

By Components

  • Hardware
  • Software

By Application

  • Onshore Intelligent Completions Well
  • Offshore Intelligent Completions Well

By Region

  • Asia Pacific
  • Europe
  • North America
  • Middle East
  • South America
  • Africa

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Company Information

Detailed analyses and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Regional Scope
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Market Size Estimation Methodology: Top-Down Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Limitations
    2.5 Research Assumptions

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 29)
    4.1 Attractive Opportunities in the Intelligent Completion Market, 2018–2023
    4.2 Intelligent Completion Market, By Countries, 2018 & 2023
    4.3 Intelligent Completion Market, By Application, 2018 & 2023
    4.4 Intelligent Completion Market, By Component, 2018 & 2023
    4.5 Intelligent Completion Market, By Type, 2018 & 2023

5 Market Overview (Page No. - 32)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Focus on the Increasing Production From Oil & Gas Wells
                    5.2.1.2 Improved Economic and Operational Benefits
           5.2.2 Restraints
                    5.2.2.1 High Initial Cost Coupled With Lack of Data Processing Infrastructure in the Oil & Gas Rigs
           5.2.3 Opportunities
                    5.2.3.1 Exploration Activities in Offshore and Arctic Regions
                    5.2.3.2 Increased Adoption of Data-Driven Technologies for Real-Time Monitoring in the Oil & Gas Industry
           5.2.4 Challenges
                    5.2.4.1 Concerns Regarding Data Privacy and Increased Cybersecurity Risks

6 Intelligent Completion Market, By Application (Page No. - 39)
    6.1 Introduction
    6.2 Onshore
    6.3 Offshore

7 Intelligent Completion Market, By Component (Page No. - 43)
    7.1 Introduction
    7.2 Hardware
    7.3 Software

8 Intelligent Completion Market, By Type (Page No. - 47)
    8.1 Introduction
    8.2 Simple Intelligent Well Completion
    8.3 Complex Intelligent Well Completion

9 Intelligent Completion Market, By Function (Page No. - 51)
    9.1 Introduction
    9.2 Downhole Monitoring System
    9.3 Downhole Control System
    9.4 Surface Control System
    9.5 Communication System

10 Intelligent Completion Market, By Region (Page No. - 53)
     10.1 Introduction
     10.2 Asia Pacific
             10.2.1 By Application
             10.2.2 By Component
             10.2.3 By Type
             10.2.4 By Country
                        10.2.4.1 China
                        10.2.4.2 Malaysia
                        10.2.4.3 Indonesia
                        10.2.4.4 Rest of Asia Pacific
     10.3 North America
             10.3.1 By Application
             10.3.2 By Component
             10.3.3 By Type
             10.3.4 By Country
                        10.3.4.1 US
                        10.3.4.2 Canada
                        10.3.4.3 Mexico
     10.4 Europe
             10.4.1 By Application
             10.4.2 By Component
             10.4.3 By Type
             10.4.4 By Country
                        10.4.4.1 Norway
                        10.4.4.2 Russia
                        10.4.4.3 UK
                        10.4.4.4 Rest of Europe
     10.5 Middle East
             10.5.1 By Component
             10.5.2 By Application
             10.5.3 By Type
             10.5.4 By Country
                        10.5.4.1 Saudi Arabia
                        10.5.4.2 UAE
                        10.5.4.3 Kuwait
                        10.5.4.4 Oman
                        10.5.4.5 Rest of the Middle East
     10.6 Africa
             10.6.1 By Application
             10.6.2 By Component
             10.6.3 By Type
             10.6.4 By Country
                        10.6.4.1 Angola
                        10.6.4.2 Nigeria
                        10.6.4.3 Rest of Africa
     10.7 South America
             10.7.1 By Application
             10.7.2 By Component
             10.7.3 By Type
             10.7.4 By Country
                        10.7.4.1 Brazil
                        10.7.4.2 Argentina
                        10.7.4.3 Rest of South America

11 Competitive Landscape (Page No. - 81)
     11.1 Overview
     11.2 Market Ranking of Players and Industry Concentration, 2017
     11.3 Competitive Scenario
             11.3.1 Contracts & Agreements
             11.3.2 New Product Launches
             11.3.3 Mergers & Acquisitions
             11.3.4 Expansion
             11.3.5 Partnership & Collaboration

12 Company Profile (Page No. - 87)
     12.1 Benchmarking
(Business Overview, Products/ Services Offered, Recent Developments, and MnM View)*
     12.2 Schlumberger
     12.3 Weatherford
     12.4 Bhge
     12.5 Halliburton
     12.6 National Oilwell Varco
     12.7 Ouro Negro
     12.8 Packers Plus Energy Services
     12.9 Omega Well Intervention Ltd.
     12.10 Ciscon Nigeria
     12.11 Praxis
     12.12 Vantage Energy
     12.13 Tendeka

*Details on Business Overview, Products/ Services Offered Offered, Recent Developments, and MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 119)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Available Customizations
     13.5 Related Reports
     13.6 Author Details


List of Tables (66 Tables)

Table 1 Intelligent Completion Market Snapshot
Table 2 Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 3 Onshore: Intelligent Completion Market Size, By Region, 2016–2023 (USD Million)
Table 4 Offshore: Intelligent Completion Tor Market Size, By Region, 2016–2023 (USD Million)
Table 5 Intelligent Completion Market Size, By Component, 2016–2023 (USD Million)
Table 6 Hardware: Intelligent Completion Market Size, By Region, 2016–2023 (USD Million)
Table 7 Software: Intelligent Completion Tor Market Size, By Region, 2016–2023 (USD Million)
Table 8 Intelligent Completion Market Size, By Type, 2016–2023 (USD Million)
Table 9 Simple Intelligent Well Completion: Intelligent Completion Market Size, By Region, 2016–2023 (USD Million)
Table 10 Complex Intelligent Well Completion: Intelligent Completion Market Size, By Region, 2016–2023 (USD Million)
Table 11 Intelligent Completion Market Size, By Function, 2016–2023 (USD Million)
Table 12 Intelligent Completion Market Size, By Region, 2016–2023 (USD Million)
Table 13 Top 5 Intelligent Completion Largest Market Size, By Country, 2016–2023 (USD Million)
Table 14 Top 5 Intelligent Completion Fastest Market, By Country, 2016–2023 (USD Million)
Table 15 Top 5 Intelligent Completion Largest Market Size, By Offshore, 2016–2023 (USD Million)
Table 16 Asia Pacific: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 17 Asia Pacific: Intelligent Completion Market Size, By Component, 2016–2023 (USD Million)
Table 18 Asia Pacific: Intelligent Completion Market Size, By Type, 2016–2023 (USD Million)
Table 19 Asia Pacific: Intelligent Completion Market Size, By Country, 2016–2023 (USD Million)
Table 20 China: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 21 Malaysia: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 22 Indonesia: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 23 Rest of Asia Pacific: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 24 North America: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 25 North America: Intelligent Completion Market Size, By Component, 2016–2023 (USD Million)
Table 26 North America: Intelligent Completion Market Size, By Type, 2016–2023 (USD Million)
Table 27 North America: Intelligent Completion Market Size, By Country, 2016–2023 (USD Million)
Table 28 US: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 29 Canada: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 30 Mexico: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 31 Europe: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 32 Europe: Intelligent Market Size, By Component, 2016–2023 (USD Million)
Table 33 Europe: Intelligent Completion Market Size, By Type, 2016–2023 (USD Million)
Table 34 Europe: Intelligent Completion Market Size, By Country, 2016–2023 (USD Million)
Table 35 Norway: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 36 Russia: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 37 UK: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 38 Rest of Europe: Intelligent Completion Market Size, By End-User, 2016–2023 (USD Million)
Table 39 Middle East: Intelligent Completion Market Size, By Component, 2016–2023 (USD Million)
Table 40 Middle East: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 41 Middle East: Intelligent Completion Market Size, By Type, 2016–2023 (USD Million)
Table 42 Middle East: Intelligent Completion Market Size, By Country, 2016–2023 (USD Million)
Table 43 Saudi Arabia: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 44 UAE: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 45 Kuwait: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 46 Oman: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 47 Rest of the Middle East: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 48 Africa: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 49 Africa: Intelligent Completion Market Size, By Component, 2016–2023 (USD Million)
Table 50 Africa: Intelligent Completion Market Size, By Type, 2016–2023 (USD Million)
Table 51 Africa: Intelligent Completion Market Size, By Country, 2016–2023 (USD Billion)
Table 52 Angola: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 53 Nigeria: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 54 Rest of Africa: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 55 South America: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 56 South America: Intelligent Completion Market Size, By Component, 2016–2023 (USD Million)
Table 57 South America: Intelligent Completion Market Size, By Type, 2016–2023 (USD Million)
Table 58 South America: Intelligent Completion Market Size, By Country, 2016–2023 (USD Million)
Table 59 Brazil: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 60 Argentina: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 61 Rest of South America: Intelligent Completion Market Size, By Application, 2016–2023 (USD Million)
Table 62 Contracts & Agreements, 2017
Table 63 New Product Launches, 2014–2017
Table 64 Mergers & Acquisitions, 2014–2017
Table 65 Mergers & Acquisitions, 2014–2017
Table 66 Mergers & Acquisitions, 2014–2017


List of Figures (32 Figures)

Figure 1 Research Design
Figure 2 Bottom-Up Approach
Figure 3 Top-Down Approach
Figure 4 Data Triangulation Methodology
Figure 5 Assumptions of the Research Study
Figure 6 European Market Dominated the Intelligent Completion Market in 2017
Figure 7 Onshore Segment is Expected to Lead the Intelligent Completion Market, By Application, During the Forecast Period
Figure 8 Hardware Segment is Expected to Lead the Intelligent Completion Market, By Component, During the Forecast Period
Figure 9 Simple Intelligent Well Completion Segment is Expected to Lead the Intelligent Completion Market, By Type, During the Forecast Period
Figure 10 Increasing Production of Oil & Gas From Wells is Expected to Drive the Intelligent Completion Market During the Forecast Period
Figure 11 Saudi Arabia is Expected to Hold the Fastest Growing Market During the Forecast Period
Figure 12 The Onshore Segment is Expected to Have Largest Market Share During the Forecast Period
Figure 13 Hardware Segment is Expected to Lead the Intelligent Completion Market During the Forecast Period
Figure 14 Simple Intelligent Well Completion Segment is Expected to Lead the Intelligent Completion Market During the Forecast Period
Figure 15 Market Dynamics: Intelligent Completions Market
Figure 16 Increase in Production With the Application of Intelligent Completions, 2012–2016
Figure 17 World Crude Oil Annual Production, 2016–2019
Figure 18 World Crude Oil Annual Production vs Consumption, 2011–2016
Figure 19 Global Offshore Investments, 2011–2022 (USD Billion)
Figure 20 Onshore Segment Accounted for the Largest Market Share in 2017
Figure 21 Hardware Segment Accounted for the Largest Market Share in 2017
Figure 22 The Single Intelligent Completion Type Accounted for the Largest Market Share in 2017
Figure 23 Europe is the Largest Market (By Value) During the Forecast Period
Figure 24 North America: Market Snapshot
Figure 25 Europe: Market Snapshot
Figure 26 Key Developments in the Intelligent Completion Market, 2014–2017
Figure 27 Schlumberger Lead the Market for Intelligent Completion in 2017
Figure 28 Schlumberger: Company Snapshot
Figure 29 Weatherford: Company Snapshot
Figure 30 Bhge: Company Snapshot
Figure 31 Halliburton: Company Snapshot
Figure 32 National Oilwell Varco: Company Snapshot

The global intelligent completion market is estimated to be USD 1.61 billion in 2018 and is projected to reach USD 2.16 billion by 2023, at a CAGR of 6.05%. Increase in production of oil & gas wells and improved economical and operational benefits are the major drivers of the intelligent completion market.

The report segments the intelligent completion market, by application, into onshore and offshore. The onshore application segment is expected to dominate the market in 2018 owing to the rise in deepwater and ultra-deepwater drilling activities. Moreover, the cost incurred in the oil & gas activities such as drilling and well completion is less in onshore when compared to offshore applications.

Based on type, the intelligent completion market has been segmented into complex intelligent well completion and simple intelligent well completion. The simple intelligent well completion segment is expected to hold the largest market share in 2018. Simple intelligent well completion helps to enhance the performance of the wells and finds its application in horizontal and multilateral wells. It provides downhole monitoring system to facilitate reservoir monitoring. This type of intelligent completion includes pressure and temperature sensors, distributed & temperature profiling, and downhole flow meters. The adoption of simple intelligent well completion will drive the simple intelligent well completion segment.

Based on component, the intelligent completion market has been segmented into hardware and software. The hardware segment is estimated to lead the market in 2018 and is expected to grow at the fastest rate during the forecast period, as it consists of various components such as control devices, monitoring devices, and others. (progressing units and communication network).

In this report, the intelligent completion market has been analyzed with respect to 6 regions, namely, the Asia Pacific, Europe, North America, South America, the Middle East, and Africa. Europe is expected to hold the largest market share in 2018 and the Middle East is the fastest growing market during the forecast period. Factors such as increase in oil & gas activities and availability of several mature oilfields in the North Sea are driving the intelligent completion market in the European region.

Intelligent Completion Market

Exploration activities in offshore and arctic regions and increased adoption of data driven technologies for real-time monitoring in the oil & gas industry can create opportunities in the intelligent completion market. However, concerns regarding data privacy and high cybersecurity risks could restrain the growth of the intelligent completion market, leading to declining profits.

Some of the leading players in the intelligent completion market are Schlumberger (US), Halliburton (US), BHGE (US), Weatherford (US), and National Oilwell Varco (US). Contracts & agreements and new product launches were the most widely adopted strategies by players to ensure their dominance in the market.

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