One Stop Solution For In-Depth Market Research Reports

詳細な市場調査レポートのワンストップソリューション

Home    >    ENERGY AND POWER   >   Asia-Pacific Completion Equipment Market

[ 英語タイトル ] Asia-Pacific Completion Equipment Market - Growth, Trends, and Forecasts (2020 - 2025)


Product Code : MDEP0087555
Survey : Mordor Intelligence
Publish On : November, 2020
Number of Pages : 120
Category : Energy and Power
Study Area : Asia Pacific
Report format : PDF
Sales price option (consumption tax not included)
Single User USD3250 / Question Form
5 User USD3750 / Question Form
Enterprise User USD6500 / Question Form
 - Weatherford International plc
- FTS International Inc
- Baker Hughes Company
- National-Oilwell Varco, Inc.
- Trican Well Service Ltd
- Superior Energy Services, Inc.
- Weir Group PLC
- Welltec A/S
- Schoeller-Bleckmann Oilfield Equipment AG
- Schlumberger Ltd
- China Oilfield Services Ltd

[Report Description]

The Asia-Pacific completion equipment market is expected to grow at a CAGR of more than 1% throughout 2020 - 2025. Factors such as increasing production of conventional and unconventional hydrocarbon and reducing maintenance costs of the well are expected to drive the market. However, shale oil and gas are having difficulty in economic extraction in China and India may restrain the market.

- Crude oil and natural gas production are expected to continue to be a vital part of meeting global energy demand, and the offshore segment is expected to witness significant growth in the forecast period. Increasing advancements in technologies are expected to aid the growth of the sector.
- New development in the intelligent well completion technology, like the advancements in the high-end self-adaptive inflow control completion technology, is expected to make the oil and gas production more viable and may provide an opportunity for market players.
- China is expected to be the largest market in the forecast period due to its abundant oil and gas production and increasing investment in the completion equipment market, and foreign companies partnering with governmental organizations to facilitate further growth.

Key Market Trends

Offshore Segment to Witness Significant Growth

- In the offshore segment, the first intervention is expensive and high-risk, well completions equipment and services have proven their value in managing production from multilateral wells, horizontal wells with multiple zones. Further advancements in the technologies are expected to aid the growth of the market.
- The improvements in the completion equipment have incorporated new paradigms in the sector like intelligent or smart well completion. Intelligent completions include permanent downhole sensors that transmit data to surface for local or remote monitoring in a digital wellness platform. All these data may or may not be automated but deliver to increase the production of the well. These systems are being used in the offshore segment as a method to decrease the production of water from the wells.
- In 2019, the B-80 offshore development project, in Mumbai offshore basin India, involves well completion, re-entry, and offshore hook-up of three existing wells, namely B-80-1, B-80-2, and B-80-4ST, as well as the drilling and offshore hook-up of six new subsea wells in the Panna reservoir sands. More new projects related to the first completion are expected to be initiated and completed in the forecast period and may provide growth to the market.
- The offshore rig count in the Asia-Pacific region is estimated by Baker Hughes Company to be around 92 units. An increase in exploration and production in areas such as the South China Sea and Bay of Bengal may aid the growth of the offshore segment of the market.
- Hence, the offshore sector is expected to be the fastest-growing segment in the forecast period due to an increase in investments, advancement in technology, and an increase in oil production.

China to Dominate the Market

- China was the largest producer of oil in the region in 2019. It is also among the largest user of well completion techniques, which, among others, are used in the economically viable recovery of unconventional sources of hydrocarbons in the country's shale plays. This is because shale oil and gas reservoirs are more complicated to handle and tend to mature faster than conventional wells. Therefore, unconventional reservoirs wells require higher usage of well completion equipment and services to produce the oil.
- Crude oil production in the country has increased by 1.0%, to 191.0 million tonnes, in 2019 from 189.1 million tonnes in 2018. The output may increase further in the forecast period and boost the China completion equipment and services market.
- Starting in 2020, China is expected to allow foreign companies to explore for and produce oil and gas in the country. Opening the industry to international firms is likely to allow international firms registered in China with net assets of USD 43 million to take part in oil and gas exploration and production. The inflow of foreign funds and expertise is expected to aid the growth of the market.
- In 2019, the staged fracturing completion in open hole horizontal wells had been developed most rapidly. This technology is featured by opening a plurality of fracturing sliding sleeves with one ball like Halliburton RapidFra, which opens upto six sliding sleeves. Chinese domestic large oil companies such as PetroChina and Sinopec have started research on this technology and initially carried out field tests and applications. The advent of new technologies is expected to open new sources of oil and gas and make the extraction cheaper, thereby aiding the market's growth.
- Hence, China is expected to dominate the market in the forecast period due to an increase in production, advancements in technologies, and high efficiency in aiding oil and gas production.

Competitive Landscape

The Asia-Pacific completion equipment market is moderately fragmented. Some of the key players in this market are Schlumberger Ltd., Halliburton Company, Baker Hughes Company, Weatherford International plc, and China Oilfield Services Ltd. and others.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Location of Deployment
5.1.1 Onshore
5.1.2 Offshore
5.2 Geography
5.2.1 China
5.2.2 Malaysia
5.2.3 India
5.2.4 Indonesia
5.2.5 Rest of Asia-Pacific

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Weatherford International plc
6.3.2 FTS International Inc
6.3.3 Baker Hughes Company
6.3.4 National-Oilwell Varco, Inc.
6.3.5 Trican Well Service Ltd
6.3.6 Superior Energy Services, Inc.
6.3.7 Weir Group PLC
6.3.8 Welltec A/S
6.3.9 Schoeller-Bleckmann Oilfield Equipment AG
6.3.10 Schlumberger Ltd
6.3.11 China Oilfield Services Ltd

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

渋谷データカウント

渋谷データカウントは、最も信頼性が高く最新の調査分析レポートを確実に提供する経験豊富な調査専門家のグローバルチームが提供する、さまざまな業界のさまざまな市場調査レポートを提供する再販代理店です。

Recommended reports

+