Sand Control Systems Market Highlights
The sand control systems market is growing at a high pace and is expected to continue grow at the same pace over the forecast period. Due to fluctuating prices of crude oil, global sand control systems market is gaining traction from the major oil producing companies to lift production of active oilfields. According to MRFR analysis, the global sand control systems market is estimated to expand at a CAGR of 4.7% during the estimated period (2017-2023).
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Sand control systems is one of the major parts in oil & gas production system. It helps eliminate the sand production in the wellbore. The system plays a major role in the completion process and it recovers the performance and the productivity of the well. Nowadays, most of the world equipment from erosion. Such problems can pose economic and safety risks.
Competitive Landscape:
Global sand control systems market seems to be extremely uneven and competitive owing to the presence of several large and medium players active in regional market. The key strategies traced from the analysis of recent developments of the key players include product launch, acquisition and expansion, agreement & partnership. Strategic partnerships between key players support the growth and expansion plans of the key players during the forecast period.
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Leading Players:
Schlumberger Limited (France), Halliburton Inc. (U.S.), Baker Hughes Incorporated (U.S.), Weatherford International (Switzerland), and National Oilwell Varco (U.S.). Oil States International (U.S.), Tendeka (U.K), Welltec (Denmark), Packers Plus Energy Services Inc. (Canada), and Superior Energy Services, Inc. (U.S.)
Global Sand Control Systems Market Segmentation
The global sand control systems market has been segmented based on technique, well type, application, and region.
On the basis of technique, the market has been segmented into Gravel Pack, Frac Pack, Sand Screens, Inflow Control Devices and others.
On the basis of well type, the market has been segmented as cased hole and open hole
Based of application, the industry has been segmented as onshore and offshore.
Sand Control Systems Market Regional Analysis
On the basis of region, the market has been segmented into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific region dominates the global sand control systems market in 2017. Increasing population and rapid industrial development are leading to increase in energy demands, which push oil and gas exploration activities. Oil and gas exploration activities are well underway in countries such as Malaysia, Australia, Indonesia, and Myanmar. This drives the sand control systems market.
Middle East & Africa is another prominent region for the sand control systems. Nigeria, Saudi Arabia and UAE, are the biggest oil and gas exporters. Growing investments in the region by various companies such as Saudi Aramco, a national petroleum & natural gas firm in Saudi Arabia, are driving the market.
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