Well Cementing Market 2018 Global Market Challenge, Driver, Trends & Forecast to 2023

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Well Cementing Market Research Report - Forecast
to 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Well Cementing Market - 2023

Global Well Cementing Market Research Report
Information by Type (Primary, Remedial, and
Others), By Well Type (Onshore and Offshore), and
by Region (North America, Europe, Asia Pacific,
Middle East and Africa) Forecast till
2023 Market Scenario Well cementing is the
process of filling the cement in the spaces of
well bore. It is one of the most important
aspects of the drilling activity and its
completion process. Cementing holds the well,
preventing the slurry from coming out of the
walls. The main function of well cementing is to
seal the inner line of the well, control
corrosion, and provide uniformity and strength to
pipes. Proper cementing of the well avoids
accidents. For cementing of wells, following
procedures needs to be done which include proper
laboratory testing of slurry amount of water
present in slurry and other dry mixtures. From
2016, the oil and gas upstream sector has ramped
up. Exploration and production activities are
increasing for fulfilment of demands of the
various developing countries. However, the market
is still recovering from crude oil price
variation. the market for well cementing is
estimated to progress with a CAGR of approx. 4.5
during the forecast period, which indicates a
decent response for the market. The key drivers
of well cementing market are technological
advancements in tools, innovation in technology
to reduce the time consumption, exploration in
unconventional resources, skilled labor in
upstream sector, mature oil and gas field and
increment in ultra-deep exploration
activities. Global well cementing market is
estimated to be valued at USD 872 million by
2023 with a CAGR of approx. 4.50.
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Well Cementing Market - 2023
Global Well Cementing Market The well cementing
market has more focus on unconventional reserves
such as tight gas, coal bed methane and shale
gas. Mergers acquisitions activities help
companies and service providers survive in the
price volatile environment so that they can
manage their debts and sustain in highly
competitive market. At country level, government
is also creating favorable policies, investment
initiatives so that private ventures and public
companies fulfil the nations energy demand,
mutually. Based on the well type, the global
well cementing market is segmented on the basis
of onshore and offshore. Offshore oil production
holds about 35 share of the total oil
production, globally. Since a few years, deep
water and ultra-deep wells are being explored to
increase the production and strengthen the
market. A few unreachable prospects have been
achieved due to advancements in drilling
technology, dynamic equipment positioning,
cementing units, and drilling units. However,
improvements in technology and services help the
service providers, gain better accessibility to
deep-water wells, which are otherwise difficult
to access compared to land exploration and
shallow water. Based on regions, offshore
activities are mostly carried out in North
America including Brazil, and U.S., which have
encouraged other countries to increase their
ultra-deep water and deep-water processes. For
example, Brazil and United States together
account for about 90 of global ultra-deep-water
projects expected to grow during the forecast
period. In terms of revenue, in the year 2016,the
contribution from North America was the highest,
with about 38 of the global share. Moreover, the
market is expected to grow further in this region
of with a CAGR of3.5 during the forecast
period. North America has a plenty of resources
in volumes. Canada is also enthusiastically
indulged in fracking activities to boom their
exploration production activities. Reasons
behind the growth of well cementing services are
shale gas boom, drilling activities in Gulf of
Mexico, and search for untapped oil and gas
reserves. Key Players The major key player in
global upstream services markets are Schlumberger
Limited (U.S.), Halliburton (U.S.), Baker Hughes
Incorporated (U.S.), Trican Well Service Ltd.
(Canada), Weatherford (U.S.), Nabors Industries
Ltd (Bermuda), China Oilfield Services Limited
(China), Transocean Ltd. (Switzerland), Valluorec
(France), Tmk (Russia), AES Precast Co Inc, Inc.
(U.S.), GOES GmbH (Germany), GE Oil Gas (U.S.)
and they are highly proficient to give premium
service in the industry.
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Well Cementing Market - 2023
Table Of Content 1 Executive Summary 2 Scope
Of The Report 3 Market Landscape 4 Market
Dynamics 5 Global Well Cementing Market, By
Type 6 Global Well Cementing Market, By Well
Type 7 Global Well Cementing Market, By
Region 8 Competitive Landscape 9 Company
Profile 10 Conclusion 11 Appendix
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