Global Well Cementing Services Market Overview
Introduction:
Well cementing is a process of pumping cement into place between wellbore and casing. Cementing is used to stop water perforation into the well, permanently. Cementing is used to seal an area where there is absence of fluid flow within the well. Well cementing mainly includes two main actions primary cementing and remedial cementing. Primary cementing is process of inserting cement sheath in annulus between wellbore and casing. Remedial cementing is use after primary cementing for well abandonment and repair. Basic purposes of well cementing are corrosion control and formation stability, zonal isolation and segregation, and pipe strength improvement. Well Cementing provides structural barriers consisting of cement and casting strings, to prevent the problems ranging from gas leaks to well blowouts. Cementing is the process of mixing a slurry of cement, cement additives and water and pumping it down through casing to critical points in the annulus around the casing or in the open hole below the casing string. The global well cementing services market accounted for US$ 8.8 billion in 2020 and is estimated to be US$ 12.56 billion by 2030 and is anticipated to register a CAGR of 3.7%.
Global Well Cementing Services Market Dynamics
Rising industrialization and globalization
Growing exploration activities for recovery of methane, coal beds, and shale gas are driving growth of the global well cementing services market. Increasing number of onshore and offshore oil and gas reserves, and rising energy demands over the globe are some other factors expected to propel growth of the global market over the forecast period. In addition, continuous growth in non-conventional resources is expected to have a positive impact on the market growth during the forecast period. Hence, the future possibilities of oil and gas explorations from arctic reserves are expected to create large opportunities for well cementing services providers.
However, a strict environmental regulation for use of cementing materials is a major factor hampering growth of the global well cementing services market. Also, dramatic drop in oil prices which led to the implementation of cost-cutting strategies by oil players and reduction in planned capital expenditure is restraining growth of the global market. Hence, the future possibilities of oil and gas explorations from arctic reserves are expected to create large opportunities for well cementing services providers.
Global Well Cementing Services Market Segmentation
Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.
The global well cementing services market is segmented based on type, application, and region.
On the basis of type, the global well cementing services market is segmented into primary cementing, and remedial cementing. On the basis of application, the market is segmented into onshore and offshore.
Regional Insights:
The global well cementing services market accounted for US$ 8.8 billion in 2020 and is estimated to be US$ 12.56 billion by 2030 and is anticipated to register a CAGR of 3.7%. On region the global well cementing services market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is expected to account for major revenue share in the global well cementing services market, followed by markets in another region. Presence of well-established well cementing services industries in the countries in the region, coupled with development of shale gas production, and rising offshore drilling activities are supporting growth of the North America market over the forecast period. Asia Pacific well cementing services market accounted for second-highest market share in the global market followed by Europe.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Billion & CAGR from 2020 – 2030 |
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Market Segmentation |
By Type- Primary Cementing and Remedial Cementing By Application– Onshore and Offshore |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global well cementing services market report based on type, application, and region.
Global Well Cementing Services Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Well Cementing Services Market Key Players
The key players operating in the global well cementing services market includes Halliburton Company, Schlumberger Limited, General Electric Company, Trican Well Service Ltd., Calfrac Well Services Ltd., Sanjel Corporation, Condor Energy Services Ltd., Vallourec SA, Weatherford International plc, and Viking Services B.V.
Global Well Cementing Services Market Company Profile
- Halliburton Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Schlumberger Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- General Electric Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Trican Well Service Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Calfrac Well Services Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sanjel Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Condor Energy Services Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Vallourec SA
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Weatherford International plc
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Viking Services B.V.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Global Well Cementing Services Market Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- Product Launch
- Merger and Acquisitions
- Impact Analysis
- PEST Analysis
- Porter’s Analysis
- Market Dynamics
- Global Well Cementing Market, By Type, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Primary Cementing
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Remedial cementing
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Well Cementing Market, Application, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Onshore
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Offshore
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Well Cementing Market, By Region, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
- Overview
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- Y-o-Y Growth Analysis (%), 2019 – 2029
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- China
- India
- Australia
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Brazil
- Mexico
- Rest of Latin America
- Middle East
- Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- GCC
- Israel
- Rest of Middle East
- Africa
- Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- South Africa
- Central Africa
- North Africa
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- Competitive Landscape
- Heat Map Analysis
- Company Profiles
- Halliburton Company.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Schlumberger Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- General Electric Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Trican Well Service Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Calfrac Well Services Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Sanjel Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Condor Energy Services Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Vallourec SA
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Weatherford International plc
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Viking Services B.V.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Halliburton Company.
- Analyst Views
- Section
- Research Methodology
- About Us
- Contact
FAQs
The Global Well Cementing Services Market is segmented into type, application, and region.
Increasing exploration activities for recovery of methane, coal beds, and shale gas across the globe is driving growth of the global well cementing services market.
By region, Northe America well cementing services market accounted for major revenue share of the global well cementing services market and is further anticipated to maintain its dominance over the forecast period.
The Key players operating in the Global Well Cementing Services Market include Halliburton Company, Schlumberger Limited, General Electric Company, Trican Well Service Ltd., Calfrac Well Services Ltd., Sanjel Corporation, Condor Energy Services Ltd., Vallourec SA, Weatherford International plc, and Viking Services B.V.