August 20, 2018 - 8:16 AM EDT
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Global Intelligent Completion Market by Application, Component, Type, Function, and Region - Forecast to 2023: Schlumberger, Halliburton, BHGE, Weatherford, and National Oilwell Varco are Dominating - ResearchAndMarkets.com

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The "Intelligent Completion Market by Application, Component, Type, Function, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The intelligent completion market is projected to reach USD 2.16 billion by 2023, from an estimated USD 1.61 billion in 2018, at a CAGR of 6.05%.

This growth can be attributed to the increasing focus toward the production of oil & gas wells and improved economical and operational benefits across the globe. High initial costs coupled with a lack of data processing infrastructure on the oil & gas rigs can hinder the growth of this market.

The onshore segment accounted for the fastest growing segment by application in intelligent completion during the forecasted period. The cost incurred in the oil & gas activities such as drilling and well completion is less in onshore when compared to offshore applications. The increasing production activities from onshore are likely to boost the intelligent completion market during the forecast period. The countries which have no offshore reserves are conducting enhanced oil recovery that has increased the demand for intelligent completion for the onshore segment.

The Middle East is projected to grow at the highest CAGR during the forecast period. Saudi Arabia accounted for the largest share of the intelligent completion market in the Middle East in 2017. The market growth in this region is driven by investments in the power generation and the oil & gas sector. The region has abundant reserves of hydrocarbons and is one of the leading petroleum-producing regions in the world. It is the primary exporter of oil & gas globally, primarily to Asian countries such as China and India.

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

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Intelligent Completion Market, By Application

7 Intelligent Completion Market, By Component

8 Intelligent Completion Market, By Type

9 Intelligent Completion Market, By Function

10 Intelligent Completion Market, By Region

11 Competitive Landscape

12 Company Profiles

  • Benchmarking
  • BHGE
  • Ciscon Nigeria
  • Halliburton
  • National Oilwell Varco
  • Omega Well Intervention Ltd.
  • Ouro Negro
  • Packers Plus Energy Services
  • Praxis
  • Schlumberger
  • Tendeka
  • Vantage Energy
  • Weatherford

For more information about this report visit https://www.researchandmarkets.com/research/b9fnmg/global?w=4

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Related Topics: Oilfield Equipment and Services


Source: Business Wire (August 20, 2018 - 8:16 AM EDT)

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