Well Intervention Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Well Intervention Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

The global well intervention market grew at a CAGR of around 5% during 2014-2019. Well intervention refers to a remedial operation performed on an oil or gas well to alter its state or geometry in order to increase or restore its production. It is generally performed via two methods, including light or heavy intervention. In a light intervention, technicians’ lower tools or sensors into a live well to minimize potential well blockages. On the other hand, in a heavy intervention, the rig crew stops production at the formation before making significant equipment changes and removes the wellhead and other pressure barriers from the well to allow full access to the wellbore.

At present, the market is experiencing growth on account of the rising number of mature oil and gas fields, along with the escalating demand for refined petroleum products due to rapid urbanization and industrialization, especially in emerging economies. Apart from this, governments of various countries are implementing taxation schemes to focus on the development of oil and gas reserves, which is also strengthening the growth of the market. Furthermore, increasing investments in technological advancements to improve exploration and production activities is propelling the market growth. However, the sudden outbreak of the coronavirus disease (COVID-19) has negatively impacted the oil and gas industry across the globe. Consequently, several leading companies had to temporarily shut down their services due to the implementation of lockdowns in various countries to prevent the spread of the pandemic. The market is anticipated to experience growth once lockdown restrictions are uplifted in these economies. Looking forward, IMARC Group expects the global well intervention market to exhibit moderate growth during the next five years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global well intervention market report, along with forecasts for growth at the global, regional and country-level from 2020-2025. Our report has categorized the market based on region, service type, well type and application.

Breakup by Service Type:

Logging and Bottomhole Survey
Tubing/Packer Failure Repair
Stimulation
Sand Control
Zonal Isolation
Artificial Lift
Fishing
Others

Breakup by Well Type:

Vertical Well
Horizontal Well

Breakup by Application:

Onshore Applications
Offshore Applications

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aker Solutions, Archer Limited, Baker Hughes Company (General Electric ), China Oilfield Services Ltd. (China National Offshore Oil Corporation), Expro Group, Halliburton Company, Schlumberger Limited, Scientific Drilling International Inc., Superior Energy Services Inc., Vallourec and Weatherford International Plc.

Key Questions Answered in This Report:
How has the global well intervention market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global well intervention market?
What are the key regional markets?
What is the breakup of the market based on the service type?
What is the breakup of the market based on the well type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global well intervention market and who are the key players?
What is the degree of competition in the industry?