Global sand control system market is expected to significant growth over the forecast period owing to increasing drilling and extraction activities particularly in Venezuela, U.S., Russia and Middle East. Surging crude oil and natural gas demand has been driving E&P activities globally. This is estimated to have a positive impact on sand control system market over the next few years. Installation of sand control system on oil fields improves the flow rate and removes the downhole cavities which otherwise enforce inefficiencies and early maturation of oil wells. Sand control system help E&P companies to reduce overall extraction cost and delays the equipment’s erosion time. Onshore wells cover major sand control system market share owing to large capacity reservoirs along with easy access. Increasing deep sea E&P activities are expected to create immense opportunities for the market penetration in offshore oil fields. Sand control systems help to remove accumulated sand in the wellbore results in increasing flow rate.
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On the basis of technologies, sand control system market has been categorised into six different techniques including plastic consolidation, sand alone screens, exclusion, frac pack, resin coated gravel and gravel packing. Gravel packing technology is expected to have the maximum market share owing to its widespread application in both onshore and offshore oil wells. Asia Pacific is estimated to witness high growth over the forecast period owing to increasing oil & gas E&P activities particularly in Indonesia, Malaysia, China and India. New shale oil field discoveries in North America and China are expected to drive the sand control system market growth over the next six years. Large crude oil reservoir capacities particularly in South American countries such as Brazil, Argentina and Venezuela are expected to create dynamic opportunities for market participants over the forecast period.
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Major players in sand control system market have been involved in innovations and increasing market share over the past few years. Baker Hughes introduced a new shape memory polymer which conforms to improving borehole efficiency, reducing risks and decreasing rig time. Such new innovations are expected to generate market opportunities. Major companies in the global market include Baker Hughes, Schlumberger, Halliburton, Weatherford International Ltd and National Oilwell Varco.
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