The sand control solutions market is projected to succeed in the size of US 3.20 billion dollars by 2028, at a compound annual growth rate (CAGR) of 8.9%, from the estimated US 2.58 billion dollars in 2022.
The sand control systems market is developing at a higher pace and is anticipated to continue to grow at an equivalent pace over the given period. Because of the fluctuation in the prices of petroleum, the global sand control systems market is gaining traction from the main oil manufacturing companies to improve the production of active oilfields.
The continuity in the development activities of shale and efforts to develop the reserve-to-production ratio from the wells are the major factors driving the expansion of the sand control solutions market. The reserve-to-production ratio indicates the remaining lifespan of natural resources at a given production rate. The decrease in petroleum prices helps the oilfield operators in such a way that they specialize in existing wells and helps to improve the reserve-to-production ratio. Moreover, with the decrease in oil reserves, major oil & gas companies have shifted their focus towards advancements in technology to create tools and techniques required to access residual reserves on conventional wells. Oilfield operator companies are currently focused on increasing recovery and increasing the lifetime of mature fields, hence, exceeding natural production levels.
The high costs related to sand control tools and limitations related to the operational efficiency of some sand control systems are major factors expected to restrain the growth of the worldwide sand control systems market. Additionally, high-energy resin placement techniques offer a plus over conventional matrix plastic consolidation methods, but limitations like high cost, low success rate, and low durability are among major factors which could limit the adoption of sand control systems to a particular extent.
The oil & gas industry is experiencing continuous discoveries because of the increased demand for oil and, therefore, the tight supply due to the continued OPEC boring cut. Major discoveries are being experienced within the offshore region, especially in western offshore Africa. Consistent with the BP Statistical Review of 2019, the planet still had unexplored 1,729.7 billion barrels of oil reserves by the top of 2022. These reserves create prominent opportunities for good drilling and production activities, which further creates opportunities for the sand control solutions market. The process of good production directly creates numerous opportunities for the sand control solutions market.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022-2028 |
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Base Year |
2022 |
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Forecast Period |
2023-2028 |
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CAGR |
8.9% |
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Segments Covered |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
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Market Leaders Profiled |
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Sand Control Solutions Market By Product Type:
Gravel packing is an efficient means of preventing the formation of sand from entering the assembly string. Gravel pack systems are used to increase the area of the producing well to extend the production rates. The benefits of an open-hole gravel pack are increased reliability and productivity from the well.
The horizontal well type dominates the sand control solution market as it is widely used to store vast quantities of natural gas in shale reservoirs.
Onshore
Offshore
Based on the location, the onshore segment is anticipated to be the dominant segment over the forecasted period. Sand control solutions contain screens, gravel Pac or a sometimes mixture of both. Most of the onshore formations are hard and are required to have older sands and thus, require sand control solutions to filter sand. Sand control techniques are designed based on the sort of the well and also the size and other properties like permeability and porosity of the sand particles. The onshore location held a bigger market size thanks to the presence of vast onshore oil & gas wells and increased dependency on conventional oil & gas, which is the most profitable and convenient way to meet the energy demand. Gravel packs are mainly installed for onshore locations. The growing demand in onshore applications shows increasing boring from basins like Permian. These factors are anticipated to boost up the demand for the sand control solution marketplace for the onshore location during the estimated period.
Cased Hole
Open Hole
Cased-hole sand control methods are more widely used because of technical reasons concerning the steadiness of the opening. During a cased-hole completion, the production casing is about within the reservoir and ensures safe production operations. The casing and cement are perforated to permit the hydrocarbons to enter the good stream to improve the manufacture. Once the reservoir level has been reached, the gun then shoots holes within the sides of the well to permit hydrocarbons to enter the good stream.
The Asia Pacific is holding the highest shares of the market for the past few years and is estimated to continue the same flow in the forecast period. China accounts for a major share in the sand controls solutions market in the Asia Pacific region. The region accounts for a considerable portion of the worldwide oil demand because of the increase in industrialization, urbanization, increase, and the consumer class's growth. This growth in oil demand propels oil & gas exploration and production activities, which drives the marketplace for oilfield equipment and services, including sand control solutions. North America is next in leading the demand of the sand control solutions market.
Tendeka, a major oil and gas company in the middle, has signed an agreement to supply FloSure Autonomous Inflow Control Devices (AICDs) and FloElite sand screens Mubadala Petroleum’s Jasmine, Manora, and Nong Yao fields within the Gulf of Thailand in march 2020. The contract also has the choice of two 1-year extensions.
The COVID-19 outbreak has the entire power industry negatively. The crisis created by COVID-19 has significantly impacted the activities of oil & gas exploration and production. The decline is caused mainly by delays in project construction activity and provides chain disruptions, such as major countries-imposed lockdowns, social distancing measures for workers, and financial challenges.
The prominent players operating in the sand control solutions market are
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