Global Completed Well Pad and Equipment Market: Overview
Well pad refers to a platform that is constructed for the proper functioning of a drilling rig on a plot of land, which is meant for the extraction of crude oil and natural gas. Generally, there are five different type of equipment used for well pad: wellheads, tanks, separation unit, combustors, and remote telemetry unit (RTU). Wellhead not only helps in preventing leakage of oil and gas but also aids in controlling the extraction process from the underground well. With constantly incrementing population and lack of efficient alternatives, the demand on the oil and gas industry is at an all-time peak. This is expected to reflect on the global market for completed well pad and equipment and expand it at a healthy growth rate during the forecast period of 2016 to 2024.
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This report on global completed well pad and equipment market is a thorough analysis of all the prominent factors that are expected to influence the growth rate in the near future, and presents a figurative scenario until 2024. One of the key feature of this report is the section on company profiles, wherein several key players have been explored for their market share, manufacturing base, margin, and recent strategic developments to gain ground over their competitors.
Global Completed Well Pad and Equipment Market: Trends and Opportunities
Rising population, with which the demand for oil and natural gas is escalating, is the primary factor that is prompting companies to opt for the latest technology in order to ensure maximum production. Additionally, the rapid development in several emerging economies such as India, China, and Brazil is lead to extended demand for energy, which can be served only by maximizing the returns from existing natural resources. Technological advancements, which has helped in protecting against leakage and proper extraction, is another factor driving the global market for completed well pad and equipment. However, substantial funds required for drilling is expected to hinder the growth during the forecast period.
Wellheads are built of a metal covering of seals, pipes towards the exterior, and control devices. This covering manages the separation of gas and oil from the underground well. Well heads also help in monitoring the seepage of gas and oil from the well. The separation unit eliminates liquid and water hydrocarbons from the stream of gas and oil. Combustors of the completed well pad and equipment market are elongated tubular equipment sections. They cause the smoldering of unstable unrefined composites which might collect in tanks.
Global Completed Well Pad and Equipment Market: Regional Outlook
Geographically, the report studies the regional markets of North America, Asia Pacific, the Middle and Africa, Latin America, Europe, and rest of the world. Currently, North America serves the maximum demand in the completed well pad and equipment market, owing to constant explorations and drilling in the countries of Canada and the U.S. China is the most prominent country market in the region of Asia Pacific.
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Companies mentioned in the research report
Devon Energy Corporation, Encana Corporation, The H&K Group, Geotech Drilling Ltd, Ausenco Company, Suncor Energy Inc., Equinox Engineering Ltd. Salym Petroleum, and DA Nolt Inc are some of the prominent companies currently operational in global completed well pad and equipment market. These players have strong presence in their respective region.
Major regions analyzed under this research report are:
-Rest of the World
This report gives you access to decisive data such as:
-Market growth drivers
-Factors limiting market growth
-Current market trends
-Market projections for the coming years