Well Cementing Market Research Report - Forecast to 2023

Global Well Cementing Market Research Report: Information by Type (Primary, Remedial, and Others), By Well Type (Onshore and Offshore), and by Region (North America, Europe, Asia Pacific, Middle East and Africa) – Forecast till 2023

ID: MRFR/E&P/0568-HCR | February 2021 | Region: Global | 120 pages

Market Scenario
Well cementing is the process of filling the cement in the spaces of well bore. It is one of the most important aspects of the drilling activity and its completion process. Cementing holds the well, preventing the slurry from coming out of the walls. The main function of well cementing is to seal the inner line of the well, control corrosion, and provide uniformity and strength to pipes.  Proper cementing of the well avoids accidents. For cementing of wells, following procedures needs to be done which include proper laboratory testing of slurry amount of water present in slurry and other dry mixtures.
From 2016, the oil and gas upstream sector has ramped up. Exploration and production activities are increasing for fulfilment of demands of the various developing countries. However, the market is still recovering from crude oil price variation. the market for well cementing is estimated to progress with a CAGR of approx. 4.5% during the forecast period, which indicates a decent response for the market.
The key drivers of well cementing market are technological advancements in tools, innovation in technology to reduce the time consumption, exploration in unconventional resources, skilled labor in upstream sector, mature oil and gas field and increment in ultra-deep exploration activities.
Global well cementing market is estimated to be valued at ~USD 872 million by 2023 with a CAGR of approx. ~4.50%.
The global well cementing market is further segmented on the basis of Type (Primary, Remedial, and Others), Well Type (Onshore and Offshore), and Region (North America, Asia Pacific, Middle East, South America & Africa).
Based on the type, the global well cementing market is bifurcated into Primary, Remedial and others. The primary type market held largest portion in the market because of its availability, properties and application in the previous years.  
Market Segmentation
 
Global Well Cementing Market
The well cementing market has more focus on unconventional reserves such as tight gas, coal bed methane and shale gas. Mergers & acquisitions activities help companies and service providers survive in the price volatile environment so that they can manage their debts and sustain in highly competitive market. At country level, government is also creating favorable policies, investment initiatives so that private ventures and public companies fulfil the nation’s energy demand, mutually.
Based on the well type, the global well cementing market is segmented on the basis of onshore and offshore. Offshore oil production holds about 35% share of the total oil production, globally.  Since a few years, deep water and ultra-deep wells are being explored to increase the production and strengthen the market. A few unreachable prospects have been achieved due to advancements in drilling technology, dynamic equipment positioning, cementing units, and drilling units.  However, improvements in technology and services help the service providers, gain better accessibility to deep-water wells, which are otherwise difficult to access compared to land exploration and shallow water.
Based on regions, offshore activities are mostly carried out in North America including Brazil, and U.S., which have encouraged other countries to increase their ultra-deep water and deep-water processes. For example, Brazil and United States together account for about 90% of global ultra-deep-water projects; expected to grow during the forecast period. In terms of revenue, in the year 2016,the contribution from North America was the highest, with about 38% of the global share. Moreover, the market is expected to grow further in this region of with a CAGR of~3.5% during the forecast period. North America has a plenty of resources in volumes.
Canada is also enthusiastically indulged in fracking activities to boom their exploration & production activities. Reasons behind the growth of well cementing services are shale gas boom, drilling activities in Gulf of Mexico, and search for untapped oil and gas reserves.
Key Players
The major key player in global upstream services markets are Schlumberger Limited (U.S.), Halliburton (U.S.), Baker Hughes Incorporated (U.S.), Trican Well Service Ltd. (Canada), Weatherford (U.S.), Nabors Industries Ltd (Bermuda), China Oilfield Services Limited (China), Transocean Ltd. (Switzerland), Valluorec (France), Tmk (Russia), AES Precast Co Inc, Inc. (U.S.), GOES GmbH (Germany), GE Oil & Gas (U.S.) and they are highly proficient to give premium service in the industry.



Frequently Asked Questions (FAQ) :


The global Well cementing is expected to record a substantial market valuation of USD 872 million by 2023.

The global Well cementing is projected to register a moderate 4.5% CAGR in the forecast period.

The primary segment is slated to expand as the fastest-growing segment.

The offshore segment is slated to expand as the fastest-growing segment.

A few major market players operating in the global Well cementing are Halliburton (U.S.), Schlumberger Limited (U.S.), Baker Hughes Incorporated (U.S.), among others.

Table of content
1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat of New Entrants

3.1.2 Bargaining power of buyers

3.1.3 Bargaining power of suppliers

3.1.4 Threat of substitutes

3.1.5 Segment rivalry

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

5 Global Well Cementing Market, By Type

5.1 Introduction

5.2 Primary

5.2.1 Market Estimates & Forecast, 2018-2023

5.2.2 Market Estimates & Forecast by Region, 2018-2023

5.3 Remedial

5.3.1 Market Estimates & Forecast, 2018-2023

5.3.2 Market Estimates & Forecast by Region, 2018-2023

5.4 Others

5.4.1 Market Estimates & Forecast, 2018-2023

5.4.2 Market Estimates & Forecast by Region, 2018-2023

6 Global Well Cementing Market, By Well Type

6.1 Introduction

6.2 Onshore

6.2.1 Market Estimates & Forecast, 2018-2023

6.2.2 Market Estimates & Forecast by Region, 2018-2023

6.3 Offshore

6.3.1 Market Estimates & Forecast, 2018-2023

6.3.2 Market Estimates & Forecast by Region, 2018-2023

7 Global Well Cementing Market, By Region

7.1 Introduction

7.2 North America

7.2.1 Market Estimates & Forecast, 2018-2023

7.2.2 Market Estimates & Forecast by Type, 2018-2023

7.2.3 Market Estimates & Forecast by Well Type, 2018-2023

7.2.4 U.S.

7.2.4.1 Market Estimates & Forecast, 2018-2023

7.2.4.2 Market Estimates & Forecast by Type, 2018-2023

7.2.4.3 Market Estimates & Forecast by Well Type, 2018-2023

7.2.5 Canada

7.2.5.1 Market Estimates & Forecast, 2018-2023

7.2.5.2 Market Estimates & Forecast by Type, 2018-2023

7.2.5.3 Market Estimates & Forecast by Well Type, 2018-2023

7.3 Europe

7.3.1 Market Estimates & Forecast, 2018-2023

7.3.2 Market Estimates & Forecast by Type, 2018-2023

7.3.3 Market Estimates & Forecast by Well Type, 2017-2023

7.3.4 Russia

8.3.4.1 Market Estimates & Forecast, 2018-2023

8.3.4.2 Market Estimates & Forecast by Type, 2018-2023

8.3.4.3 Market Estimates & Forecast by Well Type, 2018-2023

8.3.5 Norway

8.3.5.1 Market Estimates & Forecast, 2017-2023

8.3.5.2 Market Estimates & Forecast by Type, 2018-2023

8.3.5.3 Market Estimates & Forecast by Well Type, 2018-2023

8.3.6 Rest of Europe

8.3.6.1 Market Estimates & Forecast, 2018-2023

8.3.6.2 Market Estimates & Forecast by Type, 2018-2023

8.3.6.3 Market Estimates & Forecast by Well Type, 2018-2023

8.4 Asia Pacific

8.4.1 Market Estimates & Forecast, 2018-2023

8.4.2 Market Estimates & Forecast by Type, 2018-2023

8.4.3 Market Estimates & Forecast by Well Type, 2018-2023

8.4.4 China

8.4.4.1 Market Estimates & Forecast, 2018-2023

8.4.4.2 Market Estimates & Forecast by Type, 2018-2023

8.4.4.3 Market Estimates & Forecast by Well Type, 2018-2023

8.4.5 Australia

8.4.5.1 Market Estimates & Forecast, 2018-2023

8.4.5.2 Market Estimates & Forecast by Type, 2018-2023

8.4.5.3 Market Estimates & Forecast by Well Type, 2018-2023

8.4.6 Rest of Asia-Pacific

8.4.6.1 Market Estimates & Forecast, 2018-2023

8.4.6.2 Market Estimates & Forecast by Type, 2018-2023

8.4.6.3 Market Estimates & Forecast by Well Type, 2018-2023

8.5 Middle East & Africa

8.5.1 Market Estimates & Forecast, 2018-2023

8.5.2 Market Estimates & Forecast by Type, 2018-2023

8.5.3 Market Estimates & Forecast by Well Type, 2018-2023

8.6 Latin America

8.6.1 Market Estimates & Forecast, 2018-2023

8.6.2 Market Estimates & Forecast by Type, 2018-2023

8.6.3 Market Estimates & Forecast by Well Type, 2018-2023

8.7 Rest of the World

8.7.1 Market Estimates & Forecast, 2018-2023

8.7.2 Market Estimates & Forecast by Type, 2018-2023

8.7.3 Market Estimates & Forecast by Well Type, 2018-2023

8 Competitive Landscape

9 Company Profile

9.1 Schlumberger Limited

9.1.1 Company Overview

9.1.2 Product/Services Offering

9.1.3 Financial Overview

9.1.4 Key Developments

11.1.5 Strategy

9.1.6 SWOT Analysis

9.2 Halliburton

9.2.1 Company Overview

9.2.2 Product /Services Offering

9.2.3 Financial Overview

9.2.4 Key Developments

9.2.5 Strategy

9.2.6 SWOT Analysis

9.3 Baker Hughes Incorporated

9.3.1 Company Overview

9.3.2 Product /Services Offering

9.3.3 Financial Overview

9.3.4 Key Developments

9.3.5 Strategy

9.3.6 SWOT Analysis

9.4 Trican Well Service Ltd

9.4.1 Company Overview

9.4.2 Product /Services Offering

9.4.3 Financial Overview

9.4.4 Key Developments

9.4.5 Strategy

9.4.6 SWOT Analysis

9.5 Weatherford

9.5.1 Company Overview

9.5.2 Product /Services Offering

9.5.3 Financial Overview

9.5.4 Key Developments

9.5.5 Strategy

9.5.6 SWOT Analysis

9.6 Nabors Industries Ltd

9.6.1 Company Overview

9.6.2 Product /Services Offering

9.6.3 Financial Overview

9.6.4 Key Developments

9.6.5 Strategy

9.6.6 SWOT Analysis

9.7 China Oilfield Services Limited

9.7.1 Company Overview

9.7.2 Product /Services Offering

9.7.3 Financial Overview

9.7.4 Key Developments

9.7.5 Strategy

9.7.6 SWOT Analysis

9.8 Transocean Ltd.

9.8.1 Company Overview

9.8.2 Product /Services Offering

9.8.3 Financial Overview

9.8.4 Key Developments

9.8.5 Strategy

9.8.6 SWOT Analysis

9.9 Valluorec

9.9.1 Company Overview

9.9.2 Product /Services Offering

9.9.3 Financial Overview

9.9.4 Key Developments

9.9.5 Strategy

9.9.6 SWOT Analysis

9.10 Tmk

9.10.1 Company Overview

9.10.2 Product /Services Offering

9.10.3 Financial Overview

9.10.4 Key Developments

9.10.5 Strategy

9.9.6 SWOT Analysis

10 Conclusion

11 Appendix

List of Tables

Table 1 Global Well Cementing Market: By Region, 2018-2023

Table 2 North America Well Cementing Market: By Country, 2018-2023

Table 3 Europe Well Cementing Market: By Country, 2018-2023

Table 4 Asia Pacific Well Cementing Market: By Country, 2018-2023

Table 5 RoW Well Cementing Market: By Country, 2018-2023

Table 6 Global Well Cementing Market by Type: By Regions, 2018-2023

Table 7 North America Well Cementing Market by Type: By Country, 2018-2023

Table 8 Europe Well Cementing Market by Type: By Country, 2018-2023

Table 9 Asia Pacific Well Cementing Market by Type: By Country, 2018-2023

Table 10 RoW Well Cementing Market by Type: By Country, 2018-2023

Table 11 Global Well Cementing Market, by Well Type, By Regions, 2018-2023

Table 12 North America Well Cementing Market, by Well Type, By Country, 2018-2023

Table 13 Europe Well Cementing Market, by Well Type, By Country, 2018-2023

Table 14 Asia Pacific Well Cementing Market, by Well Type, By Country, 2018-2023

Table 15 RoW Well Cementing Market, by Well Type, By Country, 2018-2023

Table 16 Global Well Cementing Market: By Region, 2018-2023

Table 17 Global Well Cementing Market: By Region, 2018-2023

Table 18 Global Well Cementing Market: By Region, 2018-2023

Table 19 North America Well Cementing Market, By Country

Table 20 North America Well Cementing Market, by Type

Table 21 North America Well Cementing Market, By Well Type

Table 22 Europe: Well Cementing Market, By Country

Table 23 Europe: Well Cementing Market, by Type

Table 24 Europe: Well Cementing Market, By Well Type

Table 25 Asia Pacific: Well Cementing Market, By Country

Table 26 Asia Pacific: Well Cementing Market, by Type

Table 27 Asia Pacific: Well Cementing Market, By Well Type

Table 28 RoW: Well Cementing Market, By Region

Table 29 RoW Well Cementing Market, by Type

Table 30 RoW Well Cementing Market, By Well Type



List of Figures

FIGURE 1 RESEARCH PROCESS OF MRFR

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 MARKET DYNAMICS

FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS

FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS

FIGURE 6 PORTER’S FIVE FORCES ANALYSIS

FIGURE 7 VALUE CHAIN ANALYSIS

FIGURE 8 GLOBAL WELL CEMENTING MARKETSHARE, BY TYPE, 2016 (%)

FIGURE 9 GLOBAL WELL CEMENTING MARKET, BY TYPE, 2015-2023 (USD MILLION)

FIGURE 10 GLOBAL WELL CEMENTING MARKETSHARE, BY TYPE, 2016 (%)

FIGURE 11 GLOBAL WELL CEMENTING MARKET, BY TYPE, 2015-2023 (USD MILLION)

FIGURE 12 GLOBAL WELL CEMENTING MARKET SHARE (%), BY REGION, 2016

FIGURE 13 GLOBAL WELL CEMENTING MARKET, BY REGION, 2015-2023 (USD MILLION)

FIGURE 14 NORTH AMERICA WELL CEMENTING MARKETSHARE (%), 2016

FIGURE 15 NORTH AMERICA WELL CEMENTING MARKETBY COUNTRY, 2015-2023 (USD MILLION)

FIGURE 16 EUROPE WELL CEMENTING MARKETSHARE (%), 2016

FIGURE 17 EUROPE WELL CEMENTING MARKETBY COUNTRY, 2015-2023 (USD MILLION)

FIGURE 18 ASIA PACIFIC WELL CEMENTING MARKETSHARE (%), 2016

FIGURE 19 ASIA PACIFIC WELL CEMENTING MARKETBY COUNTRY, 2015-2023 (USD MILLION)

FIGURE 20 REST OF THE WORLD WELL CEMENTING MARKETSHARE (%), 2016

FIGURE 21 REST OF THE WORLD WELL CEMENTING MARKETBY COUNTRY, 2015-2023 (USD MILLION)