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Sand control systems market worth 2.84 billion USD by 2022 according to new research report

Industrial Market Research

The global sand control systems market is projected to grow at a CAGR of 3.78%, from 2017 to 2022, to reach a market size of USD 2.84 Billion by 2022 from USD 2.36 Billion in 2017. Rising oil & gas production, high day rates of offshore rigs, increasing drilling activities in Asia Pacific region and growth in number of wells are the major drivers of the sand control systems market.

The report "Sand Control Systems Market by Application (Onshore and Offshore), Techniques (Gravel Pack, Frac Pack, Sand Screens, Inflow Control Devices), Well Completions Type (Cased Hole and Open Hole), and Region - Global Forecasts to 2022", The sand control systems market is estimated to grow from a value of USD 2.36 Billion in 2017 to USD 2.84 Billion by 2022, at a CAGR of 3.78%, from 2017 to 2022. The global market is set to witness a significant growth due to the continued growth in number of wells drilled, increasing drilling activities, and rising oil & gas production.

Browse 96 Market Data Tables and 40 Figures spread through 164 Pages and in-depth TOC on "Sand Control Systems Market by Application (Onshore and Offshore), Techniques (Gravel Pack, Frac Pack, Sand Screens, Inflow Control Devices), Well Completions Type (Cased Hole and Open Hole), and Region - Global Forecasts to 2022"
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The gravel pack segment is expected to hold the largest share of the sand control systems market, by technique, during the forecast period.

The gravel pack sub-segment of the technique segment led the sand control systems market in 2016 and is projected to dominate the market during the forecast period. Increasing drilling of conventional oil and gas fields in onshore regions across the world is the key reason for largest market share of gravel pack segment in 2017.

The inflow control devices segment is expected to grow at the fastest rate during the forecast period.  Increasing life span of the well and reducing the expenditure are the main factors driving the inflow control technique segment in the sand control systems market.

The onshore application segment is expected to hold the largest share of the sand control systems market, by application, during the forecast period.

The onshore sub-segment of the application segment led the sand control systems market in 2016 and is projected to dominate the market during the forecast period. Presence of vast onshore oil & gas wells and increased dependency on conventional oil & gas are the major factors for largest market share of the onshore segment in the sand control systems market.

Asia Pacific: The leading market for sand control systems

In this report, the sand control systems market has been analyzed with respect to six regions, namely, Asia Pacific, North America, Europe, South America, the Middle East, and Africa. The market in Asia Pacific led the global sand control systems market in 2016.

Growing economy of developing countries such as Australia and China, growing governmental support in oil & gas industry, and increasing private investments to support new drilling activities are expected to drive the sand control systems market in Asia Pacific.

To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the sand control systems market. The key players include Baker Hughes (US), Halliburton (US), Schlumberger (US), Weatherford (Switzerland), and National Oilwell Varco (US), among others.

 

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