Well Cementing Market 2019 Recent Developments, Size, Share, Current Industry Trends and Comprehensive Research 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.

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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 nation’s energy demand, mutually.

Segmentation

Based on the type, the global well cementing market is bifurcated into Primary, Remedial and others.

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.

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Regional Outlook

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 of~3.5% during the forecast period. North America has a plenty of resources in volumes.

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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