The global well-completion equipment and services market size is expected to reach USD 18.9 billion by 2030 with a CAGR of 4.2% during the forecast period, 2022-2030. It was valued at USD 11.7 billion in 2022.

The growing oil & gas exploration and production activities due to the increasing demand for oil and gas is the primary factor accelerating the global well completion equipment and services market. Furthermore, the North American region is expected to have significant growth in the global well-completion equipment and services market due to a rapid increase in the exploration and production activities to meet the growing energy demand in the region. Thus, the leading oil and gas companies are investing in oil and gas exploration and production activities to extract more hydrocarbons from existing wells using advanced techniques in the region.

What is Well Completion Equipment and Services?

Good completion can be defined as all post-drilling operations necessary to hydrocarbon production. Completion planning involves choosing and organizing the equipment to be used, selecting materials, establishing production line tubing dimensions, stipulating production intervals, and defining the mode of formation fluid production. Well-completion equipment consists of production packers, nipples, valve plugs, liner systems, chokes, subsurface safety valves (SSSV), and many others, designed, manufactured, and specialized to meet necessary good requirements, where SSSV is subjected to extensive inspection and testing. Further, well-completion equipment is employed to provide the optimum production and injection of a well after being drilled to a necessary depth with the help of sophisticated, intelligent systems and a range of simpler packers.

Growth Driver

The growth in oil and gas exploration and production activities

The energy demand has been increasing rapidly among various developing and developed countries across the globe. This increased demand has led to increased pressure on the oil & gas Exploration & Production companies to extract more hydrocarbons from existing wells using advanced techniques, resulting in a rapid increase in deep exploration activities on a large scale, particularly in the Gulf of Mexico, the South China Sea and the North Sea. These increased E&P activities will accelerate the demand for global well-completion equipment and services over the forecast period. Furthermore, the rapid development of unconventional resources is also expected to boost market growth. Increased efficiency in deep and ultra-deep waters and enhanced completion efficiency have maximized production capabilities by market participants. This has driven the growth of the global well-completion equipment and services market demand in the coming years. Moreover, high capital investment coupled with lack of skilled laborers, growing government stringent environmental norms& regulations, and depletion of some active wells are expected to restrain the growth of the global well completion equipment and services market over the forecasted period. Furthermore, refracting mature oil & gas wells, resuming shale operations, and growing technological advancements that help reduce the equipment’s manufacturing and service costs will further stimulate the global well completion equipment and services market.

Pre-Covid-19 impact on the global Well Completion Equipment and Services market

The rapid growth in the number of exploration and production activities due to the increasing demand for oil and gas has increased the demand of the global Well Completion Equipment and Services market. Globally, increasing industrialization, growing urbanization, and rising disposable income have increased the number of vehicles, leading to increased oil and gas consumption among various developing and developed countries. Thus, resulting in the rapid increase in the number of drilling wells among various regions, including North America, Asia Pacific, and the Middle East.

Covid-19 impact on the global Well Completion Equipment and Services market

The COVID-19 pandemic has severely hit the overall growth of the oil and gas industry in 2020 across the globe. The pandemic has severely affected every business segment due to various government norms such as nationwide lockdown, complete travel ban, and shutdown of production facilities across the globe. Furthermore, the complete shutdown of various manufacturing and industrial activities has slowed down the demand for oil and gas. The interruption in the supply chain of raw materials and non-availability of the workforce has halted the oil and gas production activities in developing and developed countries, significantly impacting the growth of the good completion equipment and services market. Furthermore, the situation is returning to normalcy. The market is expected to recover and grow positively during the forecast period.

Post-Covid-19 impact on the global Well Completion Equipment and Services market

The significant growth in the energy demand due to rapid industrialization and increasing expansion of the automobile industry is expected to escalate the growth of the global Well Completion Equipment and Services market during the forecast period. The increasing investment by leading companies in the oil and gas exploration and production activities using advanced techniques and continuing operations to extract hydrocarbon from abandoned wells will further provide lucrative opportunities in the growth of the global well completion equipment and services market during the forecast period.

Type Segmental Analysis

Based on the Material Type, the global Well Completion Equipment and Services market is segmented into Packers, Sand Control Tools, Multistage Fracturing Tools, Liner Hangers Valves, Smart Wells, and Others. The packers segment is accounted for the largest share in the global Well Completion Equipment and Services market in 2020. This growth is attributable to its low cost compared to other equipment, and several packers are required to complete well because of wide applications. Each packer contains well-logging devices to measure pressure and temperature and monitor the flow during the process.

Application Segmental Analysis

The global Well Completion Equipment and Services market is categorized into Onshore and Offshore based on the Application. The offshore segment is expected to have the highest share in the global well-competition equipment and services market in the coming years. This growth is attributable to the growing number of offshore exploration and production activities, particularly in the Gulf of Mexico, South China Sea and the North Sea. This trend is likely to carry on in the future as the increase in the production from the deep-water, and ultra-deep-water reservoirs will drive the demand for good completion equipment & services.

Region Segmental Analysis

The global Well Completion Equipment and Services market is characterized by North America, Europe, Asia Pacific, South America, and Middle East & Africa. The North American region is expected to dominate the Well Completion Equipment and Services Market and continue this growth rate during the forecast period, 2022-2030. This growth is attributable to the increasing oil and gas production activities in offshore regions of the US. The discovery of shale oil in North Dakota in North America has increased the demand for well-completion equipment and services. Furthermore, the good completion equipment and services market is expected to have significant growth among various Asia Pacific countries such as India, China, and Japan due to the rise in maritime security activities, growth in offshore oil and gas production activities, and growth in underwater communications. In addition, China is expected to hold the highest share in the good competition equipment and services market in the Asia Pacific region.

Competitor Analysis

Companies include Weatherford International PLC, Schlumberger Ltd., Halliburton Company, Baker Hughes, Inc., Total SA, BP p.l.c., Royal Dutch Shell plc, Forum Energy Technologies, Superior Energy Services, National Oilwell Varco, Wellcare Oil Tools, and other prominent players are the key players in the Well Completion Equipment and Services market.

Key Stakeholders

• Market research and consulting firms
• Industry associations
• Global Well Completion Equipment and Services manufacturing firm
• Local Governments
• Regulatory bodies
• Suppliers
• Retailers

Recent Developments

• In May 2019, the United States registered 987 active rigs. US exploration and production businesses have invested greatly in drilling and well-completion assignments.

Scope of the Report

Growth RateCAGR of 7.5% from 2020 to 2027.

Market Modelling

By Material Type

• Packers
• Sand Control Tools
• Multistage Fracturing Tools
• Liner Hangers
• Valves
• Smart Wells
• Others

By Application

• Onshore
• Offshore

By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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Report Content

1.     Research Strategic Development

1.1. Market Modelling

1.2. Product Analysis

1.3. Market Trend and Economic Factors Analysis

1.4. Market Segmental Analysis

1.5. Geographical Mapping

1.6. Country Wise Segregation

2.     Research Methodology

2.1. Identification of Target Market

2.2. Data Acquisition

2.3. Refining of Data/ Data Transformations

2.4. Data Validation through Primary Techniques

2.5. Exploratory Data Analysis

2.6. Graphical Techniques/Analysis

2.7. Quantitative Techniques/Analysis

2.8. Visual Result/Presentation

3.     Executive Summary
4.     Market Insights

4.1. Supply Chain Analysis

4.2. Economic Factor Analysis

4.2.1. Drivers

4.2.2. Trends

4.2.3. Opportunities

4.2.4. Challenges

4.3. Technological Landscape

4.4. Competitors & Product Analysis

4.5. Regulatory Framework

4.6. Company market share analysis, 2022

4.7. Porter’s Five forces analysis

4.8. Price point analysis

4.9. New Investment Analysis

4.10.            PESTEL Analysis

4.11.            Covid-19 Impact on Global Well Completion Equipment and Services Market

5.     Global Well Completion Equipment and Services Market Overview

5.1. Market Size & Forecast,2017-2030

5.1.1. Demand

5.1.1.1. By Value (USD Billion)

5.2. Market Share & Forecast, 2017-2030

5.2.1.     By Type

5.2.1.1.            Packers

5.2.1.2.            Sand Control Tools

5.2.1.3.            Multistage Fracturing Tools

5.2.1.4.            Liner Hangers

5.2.1.5.            Valves

5.2.1.6.            Smart Wells

5.2.1.7.            Others

5.2.2.     By Application

5.2.2.1.            Onshore

5.2.2.2.            Offshore

5.2.3.     By Region

5.2.3.1.            North America

5.2.3.2.            Europe

5.2.3.3.            Asia-Pacific

5.2.3.4.            South America

5.2.3.5.            The Middle East & Africa

6.     North America Well Completion Equipment and Services Market Overview

6.1. North America Well Completion Equipment and Services Market Size & Forecast,2017-2030

6.1.1. Demand

6.1.1.1. By Value (USD Billion)

6.2. Market Share & Forecast, 2017-2030

6.2.1. By Type

6.2.1.1.            Packers

6.2.1.2.            Sand Control Tools

6.2.1.3.            Multistage Fracturing Tools

6.2.1.4.            Liner Hangers

6.2.1.5.            Valves

6.2.1.6.            Smart Wells

6.2.1.7.            Others

6.2.2. By Application

6.2.2.1.            Onshore

6.2.2.2.            Offshore

6.2.3. By Country

6.2.3.1.            US

6.2.3.2.            Canada

6.2.3.3.            Mexico

6.2.4. Company Market Share (Top 3-5)

6.2.5. Economic Impact study on North America Well Completion Equipment and Services Market

7.     Europe Well Completion Equipment and Services Market Overview

7.1. Europe Well Completion Equipment and Services Market Size & Forecast,2017-2030

7.1.1. Demand

7.1.1.1. By Value (USD Billion)

7.2. Market Share & Forecast, 2017-2030

7.2.1. By Type

7.2.1.1.            Packers

7.2.1.2.            Sand Control Tools

7.2.1.3.            Multistage Fracturing Tools

7.2.1.4.            Liner Hangers

7.2.1.5.            Valves

7.2.1.6.            Smart Wells

7.2.1.7.            Others

7.2.2. By Application

7.2.2.1.            Onshore

7.2.2.2.            Offshore

7.2.3. By Country

7.2.3.1.            Germany

7.2.3.2.            UK

7.2.3.3.            France

7.2.3.4.            Italy

7.2.3.5.            Rest of Europe

7.2.4. Company Market Share (Top 3-5)

7.2.5. Economic Impact study on Europe Well Completion Equipment and Services Market

8.     Asia-Pacific Well Completion Equipment and Services Market Overview

8.1. Asia-Pacific Well Completion Equipment and Services Market Size & Forecast,2017-2030

8.1.1. Demand

8.1.1.1. By Value (USD Billion)

8.2. Market Share & Forecast, 2017-2030

8.2.1. By Type

8.2.1.1.            Packers

8.2.1.2.            Sand Control Tools

8.2.1.3.            Multistage Fracturing Tools

8.2.1.4.            Liner Hangers

8.2.1.5.            Valves

8.2.1.6.            Smart Wells

8.2.1.7.            Others

8.2.2. By Application

8.2.2.1.            Onshore

8.2.2.2.            Offshore

8.2.3. By Country

8.2.3.1.            India

8.2.3.2.            Japan

8.2.3.3.            Australia

8.2.3.4.            Rest of Asia Pacific

8.2.4. Company Market Share (Top 3-5)

8.2.5. Economic Impact study on Asia-Pacific Well Completion Equipment and Services Market

9.     South America Well Completion Equipment and Services Market Overview

9.1. South America Well Completion Equipment and Services Market Size & Forecast,2017-2030

9.1.1. Demand

9.1.1.1. By Value (USD Billion)

9.2. Market Share & Forecast, 2017-2030

9.2.1. By Type

9.2.1.1.            Packers

9.2.1.2.            Sand Control Tools

9.2.1.3.            Multistage Fracturing Tools

9.2.1.4.            Liner Hangers

9.2.1.5.            Valves

9.2.1.6.            Smart Wells

9.2.1.7.            Others

9.2.2. By Application

9.2.2.1.            Onshore

9.2.2.2.            Offshore

9.2.3. By Country

9.2.3.1.            Brazil

9.2.3.2.            Argentina

9.2.3.3.            Rest of South America

9.2.4. Company Market Share (Top 3-5)

9.2.5. Economic Impact study on South America Well Completion Equipment and Services Market

10. The Middle East & Africa Well Completion Equipment and Services Market Overview

10.1.            The Middle East & Africa Well Completion Equipment and Services Market Size & Forecast,2017-2030

10.1.1.                        Demand

10.1.1.1.        By Value (USD Billion)

10.2.            Market Share & Forecast, 2017-2030

10.2.1.                        By Type

10.2.1.1.        Packers

10.2.1.2.        Sand Control Tools

10.2.1.3.        Multistage Fracturing Tools

10.2.1.4.        Liner Hangers

10.2.1.5.        Valves

10.2.1.6.        Smart Wells

10.2.1.7.        Others

10.2.2.                        By Application

10.2.2.1.        Onshore

10.2.2.2.        Offshore

10.2.3.                        By Country

10.2.3.1.  Saudi Arabia

10.2.3.2.  UAE

10.2.3.3.  South Africa

10.2.3.4.  Rest of the Middle East & Africa

10.2.4.                        Company Market Share (Top 3-5)

10.2.5.                        Economic Impact study on The Middle East & Africa Well Completion Equipment and Services Market

11. Competitor Analysis

11.1.   Company Description

11.2.   Financial Analysis

11.3.   Key Products

11.4.   Key Management Personnel

11.5.   Contact Address

11.6.   SWOT Analysis

11.7.   Company Profile

11.7.1. Weatherford International PLC.

11.7.2. Schlumberger Ltd.

11.7.3. Halliburton Company

11.7.4. Baker Hughes, Inc.

11.7.5. Total S.A.

11.7.6. BP p.l.c.

11.7.7. Royal Dutch Shell plc

11.7.8. Forum Energy Technologies

11.7.9. Superior Energy Services

11.7.10.                        National Oilwell Varco

11.7.11.                        Wellcare Oil Tools

11.7.12.                        Other prominent players