“Well Intervention Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on well intervention market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for well intervention? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The well intervention market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
- 1) By Well Type: Horizontal Well; Vertical Well
- 2) By Intervention Type: Light Intervention; Medium Intervention; Heavy Intervention
- 3) By Service: Logging and Bottomhole Survey; Tubing or Packer Failure and Repair; Stimulation; Remedial Cementing; Zonal Isolation; Sand Control; Other Services
- 4) By Application: Onshore; Offshore
- Companies Mentioned: Halliburton Company; Schlumberger Ltd; Baker Hughes Co.; Weatherford International Plc; NexTier Oilfield Solutions
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the well intervention market are: Halliburton Company, Schlumberger Ltd., Baker Hughes Co., Weatherford International Plc, NexTier Oilfield Solutions, Archer Limited., Expro Group, Trican Well Service Ltd., Pioneer Energy Services Corp., Basic Energy Services Inc., Nine Energy Services Inc., Key Energy Services, Oceaneering International Inc., Welltec A/S, Altus Intervention, Vallourec S.A., Scientific Drilling International Inc., TechnipFMC plc., and Aker Solutions ASA.
The global well intervention market is expected to grow from $8.47 billion in 2022 to $9.04 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The well intervention market is expected to reach $11.33 billion in 2027 at a CAGR of 5.8%.
The well intervention market includes revenues earned by entities by providing long-radius, medium-radius, short-radius, tangent, and combination. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Well intervention is the process in which a series of operations are carried out to diagnose, alter, and improve a well's health. Well intervention involves various activities other than drilling such as pumping, tubing, and other related processes. Well interventions can be useful in the case of old oil wells where production has been reduced.
North America was the largest region in the well intervention market in 2022. The regions covered in the well intervention market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main well types of well intervention are horizontal well, vertical well, light intervention, medium intervention, and heavy intervention. A horizontal well is a well in which the well is drilled at an inclination of at least 80 degrees to enhance reservoir performance. The services involved are logging and bottom hole survey, tubing or packer failure, and repair, stimulation, remedial cementing, zonal isolation, sand control, artificial lift, re-perforation, fishing, and other services that are used for onshore, and offshore applications.
The increasing energy demand is expected to propel the growth of the well-intervention market going forward. The physical ability of a system to perform work is called energy. Fossil fuels and petroleum products are currently the largest sources of energy used worldwide. Well intervention can be a user in the oil and fossil fuel production from oil wells. Hence, the increasing demand for energy increases the demand for petroleum products which drives the well intervention market forward. For instance, in 2021, according to the Global Energy Review report published by International Energy Agency, a Paris-based autonomous intergovernmental organization, global energy demand increased by 4.6% as compared to the 2019 levels. Global oil demand increased by 6% as compared to 2020 levels. Natural gas demand increased by 3.2% in 2021. Therefore, the increasing energy demand is driving the demand for the well intervention market.
Technological innovations are a key trend gaining popularity in the well intervention market. Major companies operating in well intervention market are introducing new technologies to maintain their position in the market. For instance, in November 2021, Expro, a US-based energy service provider, launched Galea, the world's first fully autonomous well intervention system. The new product will help oil companies to increase production while reducing maintenance and intervention costs, HSE risks, and environmental impact. When operating in fully autonomous mode, Galea drops a tool string into the well either on a schedule or in accordance with the well's conditions. Galea can enhance productivity at lower operating costs and eliminate employees from the worksite while dramatically lowering the carbon footprint of intervention activities thanks to continuous remote monitoring that is accessible from anywhere in the world. Galea executes a pre-planned intervention sequence that is started locally or remotely in semi-autonomous mode. This is advantageous for multi-well platforms or pads that need ongoing interventions, like paraffin wax scraping activities.
In March 2021, Baker Hughes, a US-based industrial service company acquired Altus Intervention for an undisclosed amount. This acquisition will enhance the oil and gas operations capabilities of Baker Hughes by enhancing its technological capabilities and providing its customers with high-efficiency solutions. Altus intervention is a Norway-based well-intervention service provider.
The countries covered in the well intervention market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The well-intervention market research report is one of a series of new reports from The Business Research Company that provides well-intervention market statistics, including well-intervention industry global market size, regional shares, competitors with well-intervention market share, detailed well-intervention market segments, market trends, and opportunities, and any further data you may need to thrive in the well intervention industry. This well-intervention market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Table of Contents
1. Executive Summary
2. Well Intervention Market Characteristics
3. Well Intervention Market Trends And Strategies
4. Well Intervention Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Well Intervention Market
- 4.2. Ukraine-Russia War Impact On Well Intervention Market
- 4.3. Impact Of High Inflation On Well Intervention Market
5. Well Intervention Market Size And Growth
- 5.1. Global Well Intervention Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Well Intervention Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Well Intervention Market Segmentation
- 6.1. Global Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Horizontal Well
- Vertical Well
- 6.2. Global Well Intervention Market, Segmentation By Intervention Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Light Intervention
- Medium Intervention
- Heavy Intervention
- 6.3. Global Well Intervention Market, Segmentation By Service, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Logging and Bottomhole Survey
- Tubing or Packer Failure and Repair
- Stimulation
- Remedial Cementing
- Zonal Isolation
- Sand Control
- Other Services
- 6.4. Global Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Onshore
- Offshore
7. Well Intervention Market Regional And Country Analysis
- 7.1. Global Well Intervention Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Well Intervention Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Well Intervention Market
- 8.1. Asia-Pacific Well Intervention Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Well Intervention Market
- 9.1. China Well Intervention Market Overview
- 9.2. China Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Well Intervention Market
- 10.1. India Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Well Intervention Market
- 11.1. Japan Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Well Intervention Market
- 12.1. Australia Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Well Intervention Market
- 13.1. Indonesia Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Well Intervention Market
- 14.1. South Korea Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Well Intervention Market
- 15.1. Western Europe Well Intervention Market Overview
- 15.2. Western Europe Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Well Intervention Market
- 16.1. UK Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Well Intervention Market
- 17.1. Germany Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Well Intervention Market
- 18.1. France Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Well Intervention Market
- 19.1. Eastern Europe Well Intervention Market Overview
- 19.2. Eastern Europe Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Well Intervention Market
- 20.1. Russia Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Well Intervention Market
- 21.1. North America Well Intervention Market Overview
- 21.2. North America Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Well Intervention Market
- 22.1. USA Well Intervention Market Overview
- 22.2. USA Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Well Intervention Market
- 23.1. South America Well Intervention Market Overview
- 23.2. South America Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Well Intervention Market
- 24.1. Brazil Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Well Intervention Market
- 25.1. Middle East Well Intervention Market Overview
- 25.2. Middle East Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Well Intervention Market
- 26.1. Africa Well Intervention Market Overview
- 26.2. Africa Well Intervention Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Well Intervention Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Well Intervention Market Competitive Landscape And Company Profiles
- 27.1. Well Intervention Market Competitive Landscape
- 27.2. Well Intervention Market Company Profiles
- 27.2.1. Halliburton Company
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Schlumberger Ltd
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Baker Hughes Co.
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Weatherford International Plc
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. NexTier Oilfield Solutions
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Well Intervention Market
29. Well Intervention Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer