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U.S. Cementing Oil and Gas Well Services Market, By Products (Oil well cementing, Oil well plugging, Gas well cementing and Gas well plugging), By Application (Gas extractors and Oil extractors) and Geography (NA, EU, APAC, and RoW) – Analysis, Share, Trends, Size, & Forecast From 2014 – 2025

112 Pages | Published Date : June 2019 | Report Code: AV282 | Report Format: PDF

REPORT HIGHLIGHT

The U.S. cementing oil and gas well services market was valued at USD 1,380 million by 2017, growing with 1.7% CAGR during the forecast period, 2018-2025

Cementing operations are done so that gas and oil wells are secured in place, and surrounding environments are not contaminated by extraction. The use of cementing also prevents caverns from forming and other parts of the borehole from collapsing. The industry is majorly driven by the rising prevalence of hydraulic fracturing (fracking). Fracking enables oil drilling and gas extraction companies to access previously unobtainable deposits, especially those in low, permeable shale rock formations. The industry has also benefited from rapidly growing proved oil and natural gas reserves, the amount of resources that can be recovered from deposits with a reasonable level of certainty. On the flip side, industry is anticipated to face more stringent regulation and competition from other energy sources which will hamper the industry growth in future. Fluctuations in crude oil and natural gas prices will also pull back the industry development to some extent over the forecast period.

Products Takeaway

In terms of products, the market is divided as;

  • Oil well cementing
  • Oil well plugging
  • Gas well cementing
  • Gas well plugging

Well cementing is likely to generate the bulk of the industry’s revenue throughout the study period. Oil well cementing is expected to account for over 40% of market share, and gas well cementing is expected to generate 10% of total industry revenue. The cementing process takes place while oil and gas companies drill a borehole into an economically viable oil or gas deposit. Cementing is a crucial step in the production of wells, and industry operators work alongside drilling crews throughout the drilling process.

Application Takeaway

In terms of application, the market is divided as;

  • Gas extractors
  • Oil extractors
  • Others

Gas extractors segment is accounted for highest revenue share. Gas extractors’ share of industry revenue is projected to increase significantly in the next five years, largely due to the development of more economically viable hydraulic fracturing techniques and the discovery of vast natural gas deposits in shale formations.

Key Vendor Takeaway

  • Halliburton Company
  • Schlumberger Ltd.
  • Nine Energy Service Inc.
  • Magnum Cementing Services Limited
  • GE Company
  • Weatherford International Ltd.
  • Baker Hughes Inc.
  •  

The industry comprises companies engaged in providing well-sealing, cementing and mixing services to oil and gas well operators. Among various key players, Halliburton Company and Weatherford International Ltd. accounted for the significant revenue share. Established in 1924 and headquartered in Houston, Halliburton Company is a multinational corporation providing products and services to national and independent oil and natural gas companies. The company operates under two segments namely completion and production and drilling and evaluation.

 

The market size and forecast for each segment and sub-segments has been considered as below:

  • Historical Year – 2014 & 2016
  • Base Year – 2017
  • Estimated Year – 2018
  • Projected Year – 2025

TARGET AUDIENCE

  • Traders, Distributors, and Suppliers
  • Manufacturers
  • Government and Regional Agencies
  • Research Organizations
  • Consultants
  • Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY PRODUCTS

  • Oil Well Cementing
  • Oil Well Plugging
  • Gas Well Cementing
  • Gas Well Plugging

MARKET, BY APPLICATION

  • Gas Extractors
  • Oil Extractors
  • Others

TABLE OF CONTENT

1. U.S. CEMENTING OIL AND GAS WELL SERVICES MARKET OVERVIEW
1.1. Study Scope
1.2. Assumption and Methodology
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Product
2.1.2. Market Snippet by Application
2.2. Competitive Insights
3. U.S. CEMENTING OIL AND GAS WELL SERVICES KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. U.S. CEMENTING OIL AND GAS WELL SERVICES INDUSTRY STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. U.S. CEMENTING OIL AND GAS WELL SERVICES MARKET LANDSCAPE
5.1. Market Share Analysis
5.2. Key Innovators
5.3. Breakdown Data, by Key manufacturer
5.3.1. Established Player Analysis
5.3.2. Emerging Player Analysis
6. U.S. CEMENTING OIL AND GAS WELL SERVICES MARKET – BY PRODUCT
6.1. Overview
6.1.1. Segment Share Analysis, By Product, 2017 & 2025 (%)
6.2. Oil Well Cementing
6.2.1. Overview
6.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.3. Oil Well Plugging
6.3.1. Overview
6.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.4. Gas Well Cementing
6.4.1. Overview
6.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.5. Gas Well Plugging
6.5.1. Overview
6.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7. U.S. CEMENTING OIL AND GAS WELL SERVICES MARKET – BY APPLICATION
7.1. Overview
7.1.1. Segment Share Analysis, By Application, 2017 & 2025 (%)
7.2. Gas Extractors
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.3. Oil Extractors
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.4. Others
7.4.1. Overview
7.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8. KEY VENDOR ANALYSIS
8.1. Halliburton Company
8.1.1. Company Snapshot
8.1.2. Financial Performance
8.1.3. Product Benchmarking
8.1.4. Strategic Initiatives
8.2. Schlumberger Ltd. Nine Energy Service Inc.
8.2.1. Company Snapshot
8.2.2. Financial Performance
8.2.3. Product Benchmarking
8.2.4. Strategic Initiatives
8.3. Magnum Cementing Services Limited
8.3.1. Company Snapshot
8.3.2. Financial Performance
8.3.3. Product Benchmarking
8.3.4. Strategic Initiatives
8.4. GE Company
8.4.1. Company Snapshot
8.4.2. Financial Performance
8.4.3. Product Benchmarking
8.4.4. Strategic Initiatives
8.5. Weatherford International Ltd.
8.5.1. Company Snapshot
8.5.2. Financial Performance
8.5.3. Product Benchmarking
8.5.4. Strategic Initiatives
8.6. Baker Hughes Inc.
8.6.1. Company Snapshot
8.6.2. Financial Performance
8.6.3. Product Benchmarking
8.6.4. Strategic Initiatives
9. 360 DEGREE ANALYSTVIEW
10. APPENDIX
10.1. Research Methodology
10.2. References
10.3. Abbreviations
10.4. Disclaimer
10.5. Contact Us

List of Tables
TABLE List of data Products
TABLE Market drivers; Impact Analysis
TABLE Market restraints; Impact Analysis
TABLE U.S. Cementing Oil and Gas Well Services market: Product snapshot (2018)
TABLE Segment Dashboard; Definition and Scope, by Product
TABLE U.S. Cementing Oil and Gas Well Services market, by Product, 2014-2025 (USD Million)
TABLE U.S. Cementing Oil and Gas Well Services market: application snapshot (2018)
TABLE Segment Dashboard; Definition and Scope, by application
TABLE U.S. Cementing Oil and Gas Well Services market, by application 2014-2025 (USD Million)

List of Figures
FIGURE U.S. Cementing Oil and Gas Well Services market segmentation
FIGURE Market research methodology
FIGURE Value chain analysis
FIGURE Porter’s Five Forces Analysis
FIGURE Market Attractiveness Analysis
FIGURE Competitive Landscape; Key company market share analysis, 2018
FIGURE Product segment market share analysis, 2017 & 2025
FIGURE Product segment market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Oil well cementing market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Oil well plugging market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Gas well cementing market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Gas well plugging market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Application segment market share analysis, 2017 & 2025
FIGURE Application segment market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Gas extractors market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Oil extractors market size forecast and trend analysis, 2014 to 2025 (USD Million)
FIGURE Others market size forecast and trend analysis, 2014 to 2025 (USD Million)

SCOPE AND OBJECTIVES
The objective of this report is to describe the market trends and revenue forecasts for the market for the upcoming years. The report focuses on defining and describing the key influencing factors for the growth of the market. It also offers an in-depth analysis of the market size (revenue), market share, major market segments, different geographic regions, key market players, and premium industry trends.
The report tracks the major market events including Product launches, technological developments, mergers & acquisitions, and the innovative business strategies opted by key market players. Along with strategically analysing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities and challenges in the market. The scope of this report covers the market by its major segments.

KEY BENEFITS OF THE REPORT
• The report presents macro and micro-level outlook regarding the industry. Thus, it becomes easy for our clients to perceive the business landscape and take a glimpse of their own standing in it.
• Thorough analysis of relevant statistical data to estimate the market paradigms
• Exceptional understanding of region and country specific markets. The report will answer some of the toughest questions regarding the market shares, sizes, forecasts, and growth specific to the countries.
• Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new Product developments

 

RESEARCH METHODOLOGY

Research methodology is developed on a combination of specialist industry analyst knowledge and in-country research experience. We employ data interrogation methodologies to generate new and meaningful analyses and insights. The research study includes extensive use of secondary sources, paid databases (such as Bloomberg, Dun & Bradstreet, and BusinessWeek) and directories, to identify and collect information, useful to understand technical, commercial and market-oriented aspects. Market data and information are also collected (but not limited to) from the secondary sources such as:

  • Official company’s website, financial and annual reporting
  • Government statistical data
  • Online publishing articles
  • Industry player’s investor presentations
  • Economic news articles
  • National and international trade associations
  • The financial, business, and mainstream press
  • Industry study groups and semiofficial sources
  • Informative channels related to the market topics

* Gathering data through secondary sources is only the first step. The ability to cross-refer market data through available secondary            information often conflicting across multiple sources is a key aspect of the added value we provide

In order to verify and validate secondary market data, we engage with the Key Opinion Leaders (KoL’s), operating in the respective markets, through phone calls, emails, and web-based survey responses. This platform help us validate our data in terms of accuracy and gain insight into the current market and future expectations. Furthermore, the obtained information guide us to understand several facets of the market with respect to manufacturers and buyers’ perspectives.

In addition, to assign weights to all the relevant market dynamics and parameters and quantify their market impact for generating projected market growth rate, we used advanced machine learning algorithms in order to collate essential market data. The machine learning method utilizes algorithms such as regression, correlation, and decision tree, among others, to derive the desired output. This tool help us in deriving highly detailed forecasts, profound knowledge of product demand, and others.

These collected data points are carefully filtered, analyzed, compared, and presented in an easy way to develop accurate research study. Furthermore, all collected data is subjected to undergo exhaustive review process at country level, regional level, and global level.

Market Forecast :

Market forecast is primarily based on the year-on-year (YOY) growth rate. Data projection and future performance of each segment is analyzed based on the key aspects extracted from primary and secondary research results. Thus, data projection exhibits the assumption on how the market performs under microeconomic and macroeconomic parameters. Our market forecasting technique represents strategic conclusions which can play a crucial role for our client’s in making strategic marketing plans.

For forecasting, the following parameters were considered:

  • Market drivers and restraints along with their current and expected impacts
  • Technological scenario and expected developments
  • Trends in the consumer behaviors
  • End-user industry trends

We have assigned weights to above-mentioned parameters and quantified their market impacts using the weighted average analysis, to derive an expected market growth rate.

Market Analysis

Another integral part of our research study is that market data is accompanied by clear written analysis. We include detailed information on market segments in terms of market drivers, market restraints, and market opportunities. These offer insights on different channel dynamics, brand preference, incidence/prevalence data, consumption trend, and technology up-gradations.

We also include supporting data from relevant awareness campaigns, new introductions, regulatory norms, government initiatives, and an industry player’s expansion in specific product segments. From research perspective, this information explains and substantiates estimated data finding and forecast.

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