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The global oil and gas well conductor installation services market has the potential to grow by USD 112.4 million during 2019-2023, and the market’s growth momentum will accelerate throughout the forecast period.
This report provides a detailed analysis of the market by geography (APAC, Europe, MEA, North America, and South America) and application (onshore and offshore). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors including Acteon Group Ltd., AOS Orwell Ltd., Baker Hughes, a GE Co. LLC, China Oilfield Services Ltd., Frank's International NV, Koninklijke Wagenborg BV, Overseas Petroleum Engineering Service Co., Pinnergy Ltd., Sanguine Oilfield Services LLP, and Solidgro Energy Sdn Bhd.
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The oil and gas well conductor installation services market is fragmented, and the degree of fragmentation will remain the same during the forecast period. Market vendors are focusing on various technological advancements that will enable them to install conductor pipes in a short time. Acteon Group Ltd., AOS Orwell Ltd., and Baker Hughes, a GE Co. LLC are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the environmental concerns related to drilling will challenge the growth of the market participants. To increase their oil and gas well conductor installation services market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this oil and gas well conductor installation services market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the services offered by various companies. Moreover, this oil and gas well conductor installation services market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the sustainability and prospects of several leading oil and gas well conductor installation service companies, including:
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North America is one of the largest markets for oil and gas well conductor installation services in 2018, and the region will offer several growth opportunities to market participants during the forecast period. The increase in onshore and offshore oil and gas projects and the rising investments and initiatives undertaken by various governments will contribute to oil and gas well conductor installation services market growth in this region.
Almost 43% of the market’s growth will originate from North America during the forecast period. The US is a key market for oil and gas well conductor installation services in North America. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America.
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The recovery in crude oil prices has resulted in increasing investments in onshore oil and gas E&P activities. Oil and gas E&P activities in shale and oil gas reservoirs have increased production in the onshore segment. Thus, the rise in onshore oil and gas E&P activities will drive the growth of the oil and gas well conductor installation services market in this segment.
Market growth in this segment will be slower than the growth of the market in the offshore segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the oil and gas well conductor installation services market size.
The increasing investments in upstream E&P activities will be a significant factor driving the growth of the oil and gas well conductor installation services market. Rising population and increasing industrial developments have increased the global energy demand. As a result, governments of various countries are undertaking several initiatives to increase oil and gas production and achieve energy security. Technological advancements have enabled the exploration of untapped oil and gas resources. Oil and gas operators are increasingly investing in mature oilfields to address the declining production of oilfields and maximize their revenue.
Moreover, upstream oil and gas companies are adopting various E&P technologies to tap unconventional reserves, such as shale oil and gas and oil sands. With increasing upstream investments, the demand for oil and gas well conductor installation will also grow as it is an essential component in the oil and gas drilling process and has several functions, such as preventing well collapse. These factors are expected to boost the growth of the oil and gas well conductor installation services market during the forecast period.
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