August 20, 2018 - 5:14 AM EDT
Print Email Article Font Down Font Up
The Global Intelligent Completion Market 2018: A $2.16 Billion Opportunity by 2023 - Driven by the Focus on the Increasing Production from Oil & Gas Wells

Dublin, Aug. 20, 2018 (GLOBE NEWSWIRE) -- The "Intelligent Completion Market by Application, Component, Type, Function, and Region - Global Forecast to 2023" report has been added to's offering.

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.

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.

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.

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.

Key Topics Covered

1 Introduction
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
2.1 Research Data
2.1.1 Secondary Data Key Secondary Sources
2.1.2 Primary Data Key Data From Primary Sources Key Industry Insights 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

4 Premium Insights
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
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Focus on the Increasing Production From Oil & Gas Wells Improved Economic and Operational Benefits
5.2.2 Restraints High Initial Cost Coupled With Lack of Data Processing Infrastructure in the Oil & Gas Rigs
5.2.3 Opportunities Exploration Activities in Offshore and Arctic Regions Increased Adoption of Data-Driven Technologies for Real-Time Monitoring in the Oil & Gas Industry
5.2.4 Challenges Concerns Regarding Data Privacy and Increased Cybersecurity Risks

6 Intelligent Completion Market, By Application
6.1 Introduction
6.2 Onshore
6.3 Offshore

7 Intelligent Completion Market, By Component
7.1 Introduction
7.2 Hardware
7.3 Software

8 Intelligent Completion Market, By Type
8.1 Introduction
8.2 Simple Intelligent Well Completion
8.3 Complex Intelligent Well Completion

9 Intelligent Completion Market, By Function
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
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 China Malaysia Indonesia 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 US Canada Mexico
10.4 Europe
10.4.1 By Application
10.4.2 By Component
10.4.3 By Type
10.4.4 By Country Norway Russia UK 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 Saudi Arabia UAE Kuwait Oman 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 Angola Nigeria 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 Brazil Argentina Rest of South America

11 Competitive Landscape
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 Profiles
12.1 Benchmarking
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

For more information about this report visit

         Laura Wood, Senior Manager
         [email protected]
         For E.S.T Office Hours Call 1-917-300-0470
         For U.S./CAN Toll Free Call 1-800-526-8630
         For GMT Office Hours Call +353-1-416-8900
Related Topics: Oilfield Equipment and Services

Primary Logo

Source: GlobeNewswire (August 20, 2018 - 5:14 AM EDT)

News by QuoteMedia

Legal Notice