DUBLIN, Jan. 2, 2018 /PRNewswire/ --
The "Global Wellhead Equipment Market 2017-2021" report has been added to Research and Markets' offering.
The global wellhead equipment market to grow at a CAGR of 3.06% during the period 2017-2021.
Global Wellhead Equipment Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one of the major drivers for this market is Increasing number of deep and ultra-deepwater drilling projects. As per the US Energy Information Administration (EIA), the recent oil shock witnessed a decline in the crude oil price, which was as low as $27/bbl in January 2016; the lowest since 2003. The oil price has almost doubled since then and was hovering around the $53-55/bbl mark as of October 2017. During the phase of low crude oil price, several projects, especially deep and ultra-deepwater projects, were put on hold.
The latest trend gaining momentum in the market is Varying reservoir characteristics. Each reservoir has its specific characteristics according to the formation and the layer of the traps. The reservoir characteristics have an impact on the production of any well, which ultimately decides the types of well drilling and completion tools that would be used during the operations. The composition and purity of crude oil, character of the reservoir rock, and the nature and strength of the drive mechanism influence the flow rate and the ultimate productivity of a reservoir. Reservoir depth, orientation, and complexity are the key factors that determine the cost and complexity of drilling and completion of a well.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuations in oil and gas prices. The continued trend of low crude prices has put additional pressure on the oil and gas service providing companies. Low-profit margins for a continued period result in reduced revenues, which directly influence the financial aspect of any company. Low investments in oil and gas projects have reduced the market potential for oil and gas service companies. Integrated oil companies were still able to absorb some of the market pressure, but pure play upstream companies were affected the most.
- Aker Solutions
- GENERAL ELECTRIC
- National Oilwell Varco
- Weir Group
Other prominent vendors
- Forum Energy Technologies
- Nabors Industries
- Oil States International
- Shanghai Elim Petroleum Machinery
- Wellhead Systems
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation By Application
Part 09: Market Segmentation By Components
Part 10: Customer Landscape
Part 11: Regional Landscape
Part 12: Decision Framework
Part 13: Drivers And Challenges
Part 14: Market Trends
Part 15: Vendor Landscape
Part 16: Vendor Analysis
Part 17: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/x49sgb/global_wellhead?w=5
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