The reservoir analysis market will register a CAGR of over 5% by 2023.
Surge in global energy demand will drive the global market during the forecast period. A growth of the country depends on the amount of energy that it possesses. Reliable and affordable energy supports the growth of various industries such as power generation and infrastructure. Therefore, rising global energy demand will propel the growth of the global reservoir analysis market.
Market Overview
Rising focus on mature oil and gas fields and new field developments
Rising focus on mature oil and gas fields and new field developments will drive the global reservoir analysis market in the forecast period. New and mature field development oil and gas projects will require accurate reservoir analysis to maximize recovery from oil and gas fields. Upstream players will look for better reservoir analysis tools to maximize profits.
Fluctuations in global oil and gas prices
Oil and gas prices company has been volatile since the 2014 crude oil price crisis. Such price changes impact investors in the oil and gas industry. This will have a negative impact on revenues of upstream companies as well as profit margins of investors. Thus, fluctuations in global oil and gas prices will impede the market growth.
Competitive Landscape
The market appears to be moderately fragmented and with the presence of several companies including Schlumberger Ltd. and Weatherford International Plc., the competitive environment is quite intense. Factors such as the surge in global energy demand and rising focus on mature oil and gas fields and new field developments, will provide considerable growth opportunities to reservoir analysis manufactures.
ALS Ltd., Baker Hughes, a GE Co. LLC, Halliburton Co., Schlumberger Ltd., and Weatherford International Plc are some of the major companies covered in this report.
PART 04: MARKET SIZING Market definition Market sizing 2018 Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS Bargaining power of buyers Bargaining power of suppliers Threat of new entrants Threat of substitutes Threat of rivalry Market condition PART 06: MARKET SEGMENTATION BY APPLICATION Market segmentation by application Comparison by application Onshore - Market size and forecast 2018-2023 Offshore - Market size and forecast 2018-2023 Market opportunity by application
PART 07: CUSTOMER LANDSCAPE PART 08: GEOGRAPHIC LANDSCAPE Geographic segmentation Geographic comparison North America - Market size and forecast 2018-2023 Middle East and Africa - Market size and forecast 2018-2023 Europe - Market size and forecast 2018-2023 APAC - Market size and forecast 2018-2023 South America - Market size and forecast 2018-2023 Key leading countries Market opportunity
PART 09: DRIVERS AND CHALLENGES Market drivers Market challenges PART 10: MARKET TRENDS Introduction of Big Data analytics Technical advances in reservoir modeling Exploring unconventional reservoirs
PART 11: VENDOR LANDSCAPE Overview Landscape disruption Competitive scenario
PART 12: VENDOR ANALYSIS Vendors covered Vendor classification Market positioning of vendors ALS Ltd. Baker Hughes, a GE Co. LLC Halliburton Co. Schlumberger Ltd. Weatherford International Plc
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Source: GlobeNewswire PR
(May 14, 2019 - 10:57 AM EDT)