The global sand control systems market is projected to grow at a CAGR of 3.78%, from 2017 to 2022. Asia Pacific was the largest market for sand control systems in 2016, followed by the North America and European markets. The growth of the sand control systems market is driven by rising oil & gas production, growing number of wells drilled, and increased drilling activities in Asia Pacific.
The sand control systems market is dominated by a few global players. The key players in this market include Baker Hughes (US), Halliburton (US), Weatherford (Switzerland), Schlumberger (US), and National Oilwell Varco (US).
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Major strategies adopted by the players in the sand control systems market over the period 2014–2017(August) included contracts & agreements, new product launches, partnerships, mergers & acquisitions, and expansions. The contracts & agreements was the most adopted strategy adopted by key players such as Baker Hughes (US), Tendeka (UK), and Halliburton (US), among others. The second most adopted growth strategy was new product launches and partnerships.
Baker Hughes, a GE company (US) was formed in 2017 after the acquisition of Baker Hughes Incorporated (US) by General Electric Company (US) in July 2017. Baker Hughes operates its business in three segments, namely, completion and production, drilling and evaluation, and industrial services. Major services included under drilling and evaluation segment are wireline services for well logging services, drilling services for directional drilling systems, and drill bits for hole enlargement and coring. The completion and production segment consists of hydrocarbons within a wellbore, wellbore intervention services, intelligent product system, artificial lift, sand control systems and pressure pumping.
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Halliburton Company (or Halliburton) is one of the leading service providers and product suppliers in the upstream sector of the oil & gas industry. The company provides 13 Product Service Lines (PSLs), mainly under two divisions, namely, drilling and evaluation and completion and production. Sand control systems fall under the completion and production segment. Halliburton adopted contracts & agreements as the major strategy during 2014 to 2017. In January 2017, Halliburton signed a contract with Shell Iraq Petroleum Development on providing drilling services at Shell's Majnoon Oil Field in Southern Iraq. As per the contract, Halliburton mobilize three rigs to drill development wells and carry out work over activities over the next two years.
Asia Pacific: The leading market for sand control systems
In this report, the sand control systems market has been analyzed with respect to six regions, namely, Asia Pacific, North America, Europe, South America, the Middle East, and Africa. The market in Asia Pacific led the global sand control systems market in 2016. Growing economy of developing countries such as Australia and China, growing governmental support in oil & gas industry, and increasing private investments to support new drilling activities are expected to drive the sand control systems market in Asia Pacific.
Pressure Pumping Market by Types (Hydraulic Fracturing, Cementing, Others), North America Resource Type (Conventional, Unconventional), North America Well Type (Horizontal, Vertical) & Geography - Global Trends & Forecasts to 2018
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