Global Intelligent Completion Market to reach USD 2.39 billion by 2025.
Global Intelligent Completion Market valued approximately USD 1.49 billion in 2017 is anticipated to grow with a healthy growth rate of more than 6.10% over the forecast period 2018-2025. This growth can be attributed to the increasing focus toward the production of oil & gas wells and improved economical and operational benefits across the globe. High initial costs coupled with a lack of data processing infrastructure on the oil & gas rigs can hinder the growth of this market. also, Exploration activities in offshore and arctic regions and increased adoption of data driven technologies for real-time monitoring in the oil & gas industry can create opportunities in the intelligent completion market. However, concerns regarding data privacy and high cybersecurity risks could restrain the growth of the intelligent completion market, leading to declining profits.
The regional analysis of Global Intelligent Completion Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is expected to hold the largest market share in 2018 and the Middle East is the fastest growing market during the forecast period. Factors such as increase in oil & gas activities and availability of several mature oilfields in the North Sea are driving the intelligent completion market in the European region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Simple Intelligent Well Completion
Complex Intelligent Well Completion
Downhole Monitoring System
Downhole Control System
Surface Control System
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Wheaterford, Bhge, Halliburton., National Oilwell Varco, Ouro Negro, Packers Plus Energy Services, Ciscon Nigeria, Praxis, Tendeka, Omega Well Intervention Ltd. and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Intelligent Completion Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers