Schlumberger to Continue Dominating Oil & Gas Coring System Market until 2023
Rising number of exploration &
production (E&P) activities coupled with increasing investments in offshore
E&P to fuel global oil & gas coring system market through 2023
According to a recently
published TechSci Research report “Global
Oil & Gas Coring System Market By Type, By Application, By Region,
Competition Forecast & Opportunities, 2013-2023’’, the global oil & gas coring system
market is projected to cross $ 9.7 billion on account of rising
demand for oil & gas and development of new fields. Moreover, growing number
of exploration & production (E&P) activities coupled with rising crude
oil prices and increasing investment in research & development is further
likely to positively influence global oil & gas coring system market in the
coming years. Schlumberger
Limited grabbed the largest
share in the global oil & gas coring system market in 2017, followed by The Halliburton Company, and Baker Hughes.
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market data Figures and Tables spread through 161 Pages and an in-depth TOC on "Global Oil & Gas Coring
Market"
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Among
different types, global oil & gas coring system market is dominated by bottom
coring as this is an essential activity and is carried out after every drilling
operation. In 2017, onshore segment had the largest share in the global oil
& gas coring system market, and the application segment is likely to
maintain its dominance throughout the forecast period as well. Dominance of
this segment is led by higher number of wells drilled onshore as compared to
offshore, thereby making it essential to use bottom coring. Furthermore, a
large demand for oil & gas coring system emanates from North America backed
by increasing oil & gas exploration activities in the region.
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“As
of 2017, the global crude oil consumption stood at around 98 million barrels per
day. Growing investments in
onshore and offshore exploration & production across the globe is likely to
propel demand for coring systems in the coming years. Additionally,
collaborations and acquisitions in order to expand operations, increase cost
efficiency and pursue new product developments would further steer growth in the
global oil & gas coring system market during the forecast period.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Oil
& Gas Coring System Market By Type, By Application, By Region,
Competition Forecast & Opportunities, 2013-2023” has evaluated the future growth
potential of global oil & gas coring system market and provides statistics
and information on market size, structure and trends. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decision. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in global
oil & gas coring system market.
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