According to latest Well Test Market Analysis 2019 to 2022 report, the global Well Test market is expected to grow at 6% CAGR by 2022. Report include insightful analysis done by Well Test Industry expertise which comprises valuable historical and forecast information on Well Test Market by Well Type (Onshore and Offshore), by Services (Surface testing, Reservoir testing, Downhole Well Testing) and by Region.
Well Test Industry Key Companies Analyzed in Report: AGR Group ASA (Norway), FMC Technologies Inc. (U.S.), Schlumberger Ltd. (U.S.), Halliburton Company (U.S.), Tetra Technologies Inc. (U.S.), Weatherford International Ltd. (Ireland), Expro International Group Ltd. (U.K.), Greene’s Energy Group (U.S.), and Helix Energy Solutions Group Inc. (U.S.).
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Global Well Test Market 2019 Insights:
A well test refers to the analysis of acquired data to broaden the knowledge and understanding of underground reservoirs and hydrocarbon properties. A well test involves taking measurements while the fluids flow from the reservoirs. This gathered data is used to determine the viability of several phases of exploration, appraisal, as well as the development of such as well.
The global well test market is anticipated to expand at a lucrative rate during the forecast period. Such growth can be owed to ascension in the spending on exploration and production (E&P) sector and stabilization of prices in the oil & gas industry, as noted in the recent past. All the factors above are contributing to the ascension of the global well test market over the forecast period.
Other factors include elevating the demand for energy which is fostering the increasing offshore drilling activities to suffice these demands. As per the latest MRFR analysis, the global well test market is expected to accrue 6% CAGR over the forecast period of 2016-2022.
The global well test market appears to have moderate consolidation. Several players in the well test market are enhancing timelines while improving the quality of services to elevate client experience. Further, companies in the well test market are projected to invest heartily in the research and development of advanced technologies which enhance the process of well testing. This is majorly driven by the objectives to invent technologies that aid in better service provision and cost-effectiveness.
Well Test Market Segment Analysis:
The global well test market is segmented based on types, services, and region. Based on type, the global well test market is segmented into onshore and offshore.
Whereas, based on service, the global well test market is segmented into surface testing, reservoir testing, downhole well testing, and real-time testing. Among these, the downhole well testing segment is anticipated to showcase substantial growth potential over the forecast period. On the other hand, in 2013, the real-time well testing segment accounted for the largest share of the well test market and is expected to continue its market domination through the assessment period. Such growth can be owed to the stabilization and optimal retrieval of results.
Detailed Regional Outlook:
The global well test market is regionally segmented into Asia Pacific, North America, Europe, and the Middle East & Africa. North America, among all regional segments, is anticipated to lead the global well test market. Such market lead can be owed to a rise in the shale and drilling activities in the region. Increased exploration activities in Canada are propelling the growth observed by the region.
Middle East & Africa is expected to register significant growth over the conjecture period. This can be attributed to the elevation in onshore and offshore drilling activities in the region.
Asia Pacific is estimated to project fast-paced growth between 2016-2022. Such ascension can be accredited to rapidly increasing E&P activities in various country-specific markets, including China, India, Malaysia, and Indonesia. Upscaling drilling activities in new oil fields discovered in Libya, Nigeria, and Brazil are expected to create new expansion opportunities for market players in the forthcoming years.
Report Scope:
Study Period: 2018 to 2022.
Base Year: 2018.
Key Table of Content:
1 Executive Summary 11
2 Introduction 12
2.1 Definition 12
2.2 Scope Of The Study 12
2.3 Assumptions 12
2.4 Key Buying Criteria 13
2.5 Market Structure 13
3 Research Methodology 14
3.1 Research Process 14
3.2 Primary Research 14
3.3 Secondary Research 15
3.4 Market Size Estimation 15
3.5 Forecast Model 17
4 Market Factor Analysis 18
4.1 Porter’s Five Forces Analysis 18
4.1.1 Threat Of New Entrants 18
4.1.2 Bargaining Power Of Suppliers 19
4.1.3 Bargaining Power Of Buyers 19
4.1.4 Threat Of Substitutes 19
4.1.5 Rivalry 19
4.2 Supply Chain Analysis 20
5 Patent Trends 22
5.1 Patent Trends 22
6 Market Dynamics 27
Continued…
List of Tables:
TABLE 1 GLOBAL WELL TEST MARKET SNAPSHOT
TABLE 2 DRIVERS FOR THE MARKET
TABLE 3 RESTRAINTS FOR THE MARKET
TABLE 4 GLOBAL WELL TEST MARKET, BY WELL TYPE
TABLE 5 Onshore, BY REGION
TABLE 6 Offshore MARKET, BY REGION
TABLE 7 GLOBAL WELL TEST MARKET, BY SERVICES
TABLE 8 RESIDENTIAL MARKET, BY REGION
TABLE 9 COMMERCIAL MARKET, BY REGION
TABLE 10 INDUSTRIAL MARKET, BY REGION
TABLE 11 GLOBAL WELL TEST MARKET, BY REGION
Continued…
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