DUBLIN, Dec. 12, 2014 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/48hfrw/well_cementing) has announced the addition of the "Well Cementing Services Market by Type, by Applicationand Casing Equipment Market by Application - Global Trends and Forecasts to 2019" report to their offering.
Well Cementing Services basically refers to pumping cement slurry into the well. It performs the key function of sealing the annulus after the casing string has been run into the wellbore. The global market is projected to exhibit high growth on account of rising onshore and offshore development activities, increasing energy demands in emerging economies, rising capital expenditure in E&P operations, rising sub-sea construction activities and the shale boom in the U.S. The global market was valued at $11,488.6 million in 2013. It is projected to grow at a CAGR of 10.9% for the forecast period 2014-2019, owing to the increase in the number of wells, globally.
North America holds the major well cementing services market share followed by Asia-Pacific and Europe. In terms of a country-level scenario, the market is dominated by the U.S. on account of the increasing number of deep water offshore wells due to which more cementing for the construction of oil and gas wells is needed. Due to the rising energy demand and redevelopment of mature oilfield wells, the demand for well cementing is high even in Asia-Pacific. China alone holds approximately 22% of the global market. Increased well construction activities and pressure pumping activities in China have led to an increase in the demand for cementing services.
By application, offshore cementing is estimated to dominate the market in terms of growth rate. Asia-Pacific and Europe currently lead the offshore cementing market in terms of market value. With respect to market by type, there is higher demand for primary cementing, with North America and Asia-Pacific leading in terms of market share.
The market is growing exponentially, due to the increasing investments by E&P companies and the expectations of an oil price hike in the long run. This prospective growth is evident from the strategies adopted by the key players operating in this industry. Companies are aiming to invest in different countries to expand their businesses.
The top five companies in the Well Cementing Services industry are Halliburton (U.S.), Schlumberger (U.S.), Baker Hughes (U.S.), Trican Well Service Ltd. (Canada), and Calfrac Well Service Ltd. (Canada).
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Premium Insights
5. Market Overview
6. Industry Trends
7. Well Cementing Services Market By Type, 2012 - 2019 ($Million)
8. Well Cementing Services Market By Application, 2012 - 2019 ($Million)
9. Casing Equipment Market
10. Well Cementing Services Market By Geography, 2012 - 2019 ($Million)
11. Competitive Landscape
12. Company Profiles
- Baker Hughes Inc.
- Calfrac Well Services Ltd.
- China Oilfield Services Ltd
- Condor Energy Services Ltd
- Gulf Energy Llc
- Nabors Industries Ltd.
- Sanjel Corp.
- Schlumberger Ltd.
- Trican Well Service Ltd.
For more information visit http://www.researchandmarkets.com/research/48hfrw/well_cementing
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SOURCE Research and Markets