Gravel Pack Technique to Dominate United States Sand Control Systems Market Through 2024
Rising oil & gas
production and increasing drilling activities to propel United States sand
control systems market during forecast period
According to
TechSci Research report, “United
States Sand Control Systems Market By Application, By Techniques, By Well
Type, Competition, Forecast & Opportunities,
2024”, United States sand control systems market is
anticipated to grow at a steady CAGR during the forecast period on account of rising
demand for sand control systems in the country, new crude oil and natural gas discoveries coupled with
high potential reserves. The discovery of new oil and natural gas need sand
control systems to manage and prevent wells from producing sand as this produced
sand erodes equipment, creates down-hole cavities, and blocks tubing. Additionally,
surge in drilling activities is positively influencing oil & gas market,
which in turn is driving sand control systems market. However, factors like stringent
government regulations regarding water contamination, oil & gas leaks, and
environmental & public health are expected to hamper the growth of United
States sand control systems market during the forecast period.
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United
States sand control systems market is segmented based on application, technique, well
type, region and company. In terms of technique, the market can be categorized
into Gravel Pack, Frac Pack, Sand Screens, Inflow Control Devices and Others.
Among them, gravel pack technique dominated the market until 2018 and is anticipated
to maintain its dominance during the forecast period as well on account of increased
drilling of oil and gas field in the onshore regions. Furthermore, the inflow
control devices segment is anticipated to register the highest growth in the
next 5 years. Increasing life span of the well and reduction in expenditure are
the main factors driving the inflow control technique segment in the sand
control systems market.
Schlumberger
Limited, Halliburton Company, Baker Hughes Incorporated, Weatherford
International, PLC, National Oilwell Varco, Superior Energy, Oil States
International and RGL Reservoir Management Inc. and others are some of the
leading players operating in United States sand control systems market. The companies
operating in the market are using organic strategies such as product launches,
mergers and collaborations to boost their share and increase their customer
bases.
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“In terms of
well type, the market is segmented into open hole and cased hole. Out of which,
cased hole well segment is anticipated to hold the maximum share due to its classification
measurements in the well casing during the well end operations. United States sand
control systems market is anticipated to grow at a steady pace during the
forecast period owing to the growth in unconventional resources in the country.
Moreover, increasing demand for oil production in the US is further driving the
market.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“United States Sand Control Systems Market By Application,
By Techniques, By Well Type, Competition, Forecast
& Opportunities, 2024” has evaluated
the future growth potential of United States sand control systems market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in United States sand control systems market.
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