6:48 AM Sand Control Systems Market Size to experience an impressive growth of 4.0% |
Sand Control Systems Market is likely to witness an impressive CAGR of 4.0% during the forecast period. Rising oil & gas production, high day rates of offshore rigs, escalating drilling activities in the Asia-Pacific region, ease of drilling and production of gas and growth in number of wells are the prime factors driving the growth of the sand control systems market.
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By technique Type: Based on the technique type, the market is segmented as gravel pack, frac pack, sand screens, inflow control devices, and others. The gravel pack segment led the sand control systems market in 2019, and is estimated to govern the market during the forecast period. Increasing drilling of epidemic oil and gas fields in onshore regions across the world attributed for the largest market share of the gravel pack segment in 2019. The inflow control devices segment is likely to register the fastest growth during the forecast period. Increasing age limit of the well and reduction in expenditure are the main factors driving the inflow control technique segment of the sand control systems market during the forecast period. By Application Type: Based on the application type, the sand control systems market is segmented as onshore and offshore. The onshore sub-segment dominated the market in 2019, and is estimated to dominate the market during the forecast period driven by the vast presence of oil & gas reserves and growing dependency on conventional oil & gas. The offshore application segment is expected to register a faster growth during the forecast period. By Region: In terms of regions, the market in the Asia-Pacific region dominated the global sand control systems market in 2019. Increasing economies of developing countries, such as Australia and China, mounting governmental support in oil & gas industry, and growing private investments to support new drilling activities are expected to drive the sand control systems market in the Asia-Pacific region. Click below to run through the detailed ToC of the report: https://www.stratviewresearch.com/toc/682/sand-control-systems-market.html Features of the Report This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. Based on the research, a proper report is crafted with the following key features:
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