The reservoir analysis market, by value, is expected to grow at a CAGR of 4.11%, from 2017 to 2022, to reach a market size of USD 8,954.9 million by 2022. Low international crude oil prices have upset the traditional well production economics, whereas, the key factors that would drive the reservoir analysis market during the forecast period includes maximizing hydrocarbon recovery, the increasing shale gas production, and the increased reliability on reservoir analysis due to technological advancements.
The reservoir analysis market is highly fragmented and is served by large international players with a full suite of solutions, as well as local players offering specific services. The key players in the reservoir analysis industry include Schlumberger Limited (U.S.), Halliburton Company (U.S.), Baker Hughes Incorporated (U.S.), Weatherford International, PLC (Switzerland), SGS S.A. (Switzerland), Core Laboratories (U.S.), ALS Oil & Gas (Australia), CGG SA (France), and Trican Well Service Limited (Canada) among others.
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The reservoir analysis market is served by a mix of large international players with their presence and capabilities across different regions and local players with a strong presence in their domestic markets. The key players operating in the market include Schlumberger Limited (U.S.), Halliburton Company (U.S.), Baker Hughes Incorporated (U.S.), Weatherford International, PLC (Switzerland), and SGS S.A. (Switzerland) among others.
Strategies adopted by players in the reservoir analysis market include, new product and technology launches, contracts & agreements, mergers & acquisitions, expansions, partnerships, collaborations, alliances, and joint ventures. New product and technology launches was the most commonly adopted strategy from 2013 to June 2017, as companies looked to strengthen their service offerings. Industry players also adopted contracts & agreements and mergers & acquisitions, which were the second and third most widely followed strategies, respectively, during the same period.
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Schlumberger Limited (U.S.) is one of the leading providers of products, services, technology, information solutions, and integrated project management solutions for the global oil & gas exploration and production industry. The company manages its business through three groups, namely, reservoir characterization, drilling, and production. It provides reservoir analysis services and solutions such as reservoir laboratory services, ECLIPSE industry-reference simulator, INTERSECT high-resolution reservoir simulator, reservoir sampling, and other analysis solutions under its reservoir characterization segment.
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