Sand control systems refer to equipment or devices widely used for managing or minimizing sand and fine production during drilling activities. Sand control system plays a key role in the overall drilling process and enhances performance and productivity of a well.
The first five-year cumulative revenue (2018–2022) is projected to be more than US$ 15 Bn, which is expected to increase rather moderately over the latter part of the five-year forecast period. The global sand control systems market is estimated to value at nearly US$ 2.9 Bn in 2019, and is expected to register a CAGR of 6.8%.
Increasing drilling activities and well completion, and discoveries of offshore oil & gas reserves are some of the major factors driving growth of the global sand control systems market over the forecast period. In addition, increasing demand for sand control systems, especially for regions and areas that are sand-prone, owing to high soil permeability and porosity, complex mineralogy, and concerns regarding well shutdown is another factor expected to fuel growth of the target market.
Global Sand Control Systems Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global sand control systems market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global sand control systems market is expected to register a CAGR of 6.8% during the forecast period.
Global Sand Control Systems Market: Segmental Snapshot
The market report has been segmented on the basis of well type, technique, application, and region. The well type segment includes cased hole and open hole. The technique segment includes gravel pack, frac pack, sand screens, inflow control devices, and others. The application segment includes onshore and offshore. The region includes the North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By Well Type: The cased hole segment is expected to register highest CAGR of over 6.9% over the forecast period in the global market
By Technique: The gravel pack segment is expected to register highest CAGR of over 7% over the forecast period in the global market
By Application: The offshore segment is expected to register highest CAGR of over 7.5% over the next 10 years in the global market
By Region: The market in North America is expected to register highest CAGR of over 7% during the forecast period in the global market
The research report on the global sand control systems market includes profiles of some of the major companies such as Schlumberger Limited, Weatherford International plc, Halliburton Company, Dialog Group Berhad, Tendeka B.V., Interwell Norway AS, Packers Plus Energy Services Inc., National Oilwell Varco, Inc., Superior Energy Services, Inc., and Variperm (Canada) Limited