Well Cementing Market Forecast, Trend Growth analysis and Business Opportunities to 2029

From: FactMr
Published: Tue Oct 01 2019

Well cementing is a process in which water, cement and cement additives are mixed with each other in specific proportion and introduced in annular space present between the casing and well-bore or in space present between two casing strings. The person who performs this job is called as a cementer. Most commonly the well cementing process is carried out to permanently shut off the penetration of water into well. However, the well cementing process can be used to seal the gap after casing string has been fixed in wellbore. Well cementing process plays an important role by preventing the fluid migration in between subsurface formations and by providing protection to fresh groundwater zones.

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Well Cementing Market: Prominent players

The key players of global well cementing market are as follows General Electric Company, Condor Energy Services Ltd, Sanjel Corporation, Viking Services B.V., Calfrac Well Services Ltd, Halliburton Company, Trican Well Service Ltd., Vallourec SA, Weatherford International PLC and Schlumberger Limited.

The research report presents a comprehensive assessment of the well cementing market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The well cementing market report provides analysis and information according to market segments such as applications, product outlook and cement compositions.

Well Cementing Market: Regional Outlook

The global well cementing market is segmented into seven regions: North America (USA, Canada), Europe, Middle East and Africa (GCC Countries), East Asia (Japan, South Korea, and China), South Asia (India, Thailand, Malaysia, Indonesia, and Rest of South Asia), Oceania (Australia, New Zealand) and Latin America (Brazil, Mexico). Among the above-mentioned regions, the Middle East and Africa region is estimated to account for a significant market share due to an upsurge in the industrial activities in GCC, such as Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates (UAE). Since 50% of the world’s oil reserves are located here, this region is the most important geographical zone in case of well cementing market. Following Gulf countries, Russia and USA region dominate the well cementing market.

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Well Cementing Market: Dynamics

The global well cementing market is majorly driven by the need for obtaining a fresh ground water, oil and gas from respective reserves. The major driving factors for growth of well cementing market over the forecast period, which is increasing production and exploration of unconventional reserves, increasing production from offshore reserves and rising count of matured wells. Due to growing advancement in technologies it becomes easy to provide well cementing process for both offshore and onshore oil and gas reserves. The depth of offshore wells are generally higher than that of onshore wells, hence the well cementing process is more complex in case of offshore wells. Although, with advanced technology, well cementing for offshore wells has become a possibility. Hence, offshore well cementation jobs are comparatively more expensive. Hence, growth in offshore well cementing process is expected to have a positive impact on well cementing market.

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