Global Well Intervention Services Market 2017-2021

Overview of the global well intervention services market

Technavio’s well intervention services industry analysis identifies the introduction of new oil and gas exploration policies as one of the major factors that will have a positive impact on the well intervention market worth in the coming years. Countries such as Brazil, India, and Israel have introduced substantial changes to their oil and gas exploration policies to encourage numerous regional and international oil and gas companies to explore their oil and gas fields. For instance, to attract funds in the oil and gas industry, the federal government of Brazil has made change in its policies. This new policy has reduced the minimum local content requirement for drilling operations to 50% for exploration and onshore development and 18% for offshore areas that have a depth higher than 100 meters. These policy changes are likely to bring in new investments from global players that will lead to the growth of the global well intervention services market during the forecast period. Technavio’s well intervention services industry analysis predict that this market will post a revenue of close to USD 13 billion by 2021.

The Americas will be the major revenue contributor of the well intervention services market throughout the forecast period. The increased drilling activities and consistent rise in the demand for oil in US, Canada, and Mexico will the well intervention services market in the region. Also, the rise in the rig count backed by government regulations and policies will drive the market growth in the Americas.

What's your takeaway?

Technavio's industry research report titled, global well intervention services market 2017-2021, will help you-

• Identify latent opportunities and explorative solutions in the well intervention market
• Identify your key competition, and what's making them tick?
• Help you build a comprehensive marketing plan, applicable across 50+ countries

Next step: Download FREE sample report | Talk to us

Competitive landscape and key vendors 

The well intervention services market is characterized by the presence of a considerable number of players and appears to be moderately fragmented. In addition to the global players who account for the major shares, the market also has the presence of a number of regional and local players. To gain a competitive edge, the players in the well intervention market adopt numerous growth strategies such as mergers and acquisitions, joint ventures, contracts, and agreements and partnerships.

The leading vendors in the market are –

• Baker Hughes
• Halliburton
• National Oilwell Varco
• Schlumberger
• Weatherford

The other prominent vendors in the market are EQT (previously Aker Solutions), AKOFS OFFSHORE, ALTUS INTERVENTION, Archer, Axis Well Technology, BlueSparkEnergy, Danum Well Services, DeepWell, Expro Group, Gulf Intervention Services DMCC, Hunting, Kinetic Services, Nabors Industries, Nordic Well Services, Oceaneering International, TechnipFMC, Wild Well Control, and WISE Intervention Services.

Segmentation by application and analysis of the well intervention services market

• Onshore
• Offshore

During 2016, the onshore application segment accounted for the major shares of the well intervention services market. Factors such as the increased drilling activities, high focus on unconventional resources such as shale gas and tar sands will contribute to the growth of the well intervention market in this industry segment.

Segmentation by service type and analysis of the well intervention services market

• Light well interventions
• Heavy well interventions

During light well interventions, the oil and gas operator’s lower tools or sensors into a live well where the pressure is controlled at the surface. Well operators normally use light interventions since it enables the operators to lower the possibility of possible well blockages. Operators also carry out light interventions to modify or alter downhole equipment such as pumps or valves or to gather downhole pressure, temperature, and flow data.

Key questions answered in the report include

• What will the market size and the growth rate be of the global well intervention services market in 2021?
• What are the key factors driving the global well intervention services market?
• What are the key market trends impacting the growth of the global well intervention services market?
• What are the challenges to market growth?
• Who are the key vendors in the global well intervention services market?
• What are the market opportunities and threats faced by the vendors in the global well intervention services market?
• Trending factors influencing the market shares of the global well intervention services market Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global well intervention services market?