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Global Smart Well Market 2017-2021

Global Smart Well Market 2017-2021

About Smart Well

The global smart well market is expected to witness significant growth during the forecast period. The growth of the market is mainly attributed to the increasing demand for oil and gas across the globe. The development of this market is dependent on the efficiency of the smart well, advancement in equipment technology and the increase in investments by market vendors. The growth of smart well market is directly linked to the growth in drilling and completion activities across the globe.

Technavio’s analysts forecast the global smart well market to grow at a CAGR of 4.48% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global smart well market for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail sales of haircare products to individual consumers and salons.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report Global Smart Well Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Baker Hughes
  • Halliburton
  • National Oilwell Varco
  • Schlumberger
  • Weatherford International
Other prominent vendors
  • Statoil
  • Salym Petroleum
  • Woodside Energy
  • Emerson process management
  • INTECH process automation
  • Nabors Completion & Production Services
  • RPC Inc.
  • Superior Energy Services
  • Trican Well Services
  • Welltec International AS
Market driver
  • Migration of drilling into unconventional areas.
  • For a full, detailed list, view our report
Market challenge
  • Decreasing investment in oil and gas industry.
  • For a full, detailed list, view our report
Market trend
  • Increase in Deepwater and ultra-Deepwater exploration.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

PR

Technavio Announces the Publication of its Research Report – Global Smart Well Market 2017-2021

Technavio recognizes the following companies as the key players in the global smart well market: Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, and Weatherford International.

Other Prominent Vendors in the market are: Statoil, Salym Petroleum, Woodside Energy, Emerson process management, INTECH process automation, Nabors Completion & Production Services, RPC Inc., Superior Energy Services, Trican Well Services, and Welltec International AS.

Commenting on the report, an analyst from Technavio’s team said: “One trend in market is IT integration and digitization of oil fields. The recent fall in oil prices has reduced oilfield services companies' profit margins. This has led to companies leveraging the use of IT to improve efficiencies and reduce operational losses. Oilfield services companies have billions of dollars invested in assets. Integrating IT with software such as total asset managers and DrillNet has allowed for continuous monitoring to find any irregularities in the performance of equipment that can be fixed immediately. This helps reduce not only maintenance time, but also failure of devices that could result in the loss of millions of dollars due to downtime and delay in the completion of a project.”

According to the report, one driver in market is migration of drilling into unconventional areas. Oil companies are managing unconventional oil and gas resources like tight oil, shale gas, shale oil, and coal bed methane. Oil industry requires advanced on-site processing equipment so that it can enhance overall oil recovery and increase ROI. The smart well technologies play a crucial role in maintaining the financial stability as well as improving the drilling activity by providing necessary details and readings regarding the reservoirs characteristics. The added advantage of smart well technologies is that they provide real-time information which prevents accidents and uncertainties while drilling.

Further, the report states that one challenge in market is decreasing investment in oil and gas industry. Investments in oil and gas industry declined in 2015 due to plunging oil and gas prices. Total, a leading oil and gas product company announced a reduction in its upstream expenditure in 2016. The company declared plans to reduce the CAPEX from $28 billion in 2013 to $21 billion in 2016. REPSOL (a global energy company) declared a 40% reduction in its upstream expenditure in 2016 as compared to 2014. In its latest Strategic Plan, the firm readjusted its upstream focus on only three regions till 2020- North America, Latin America, and Southeast Asia. The company also aims to sell off $7 billion worth of upstream and downstream assets by 2020. Deepwater projects normally require big investments, hence most of the deep-water projects have either been deferred or shelved.

Companies Mentioned

Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, Weatherford International, Statoil, Salym Petroleum, Woodside Energy, Emerson process management, INTECH process automation, Nabors Completion & Production Services, RPC Inc., Superior Energy Services, Trican Well Services, Welltec International AS.

  • Executive summary
  • Scope of the report
    • Market overview
      • Table Key countries in each region
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
    • Technological overview
      • Table Oil and gas market value chain
      • Table Petroleum upstream activities stages
      • Table Elements of smart well
      • Table Economic driver of smart well systems and technologies
      • Table Smart or intelligent well control system installation while well control
      • Table Schematic diagram of smart well for three separate inflows zonal isolation (packer) and inflow control valves
      • Table Monitoring and metering data specifications
  • Market landscape
    • Market overview
      • Table Global smart well market
    • Market size and forecast
      • Table Global smart well market 2016-2021 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by application
    • Global smart well by application 2016-2021
      • Table Global Smart well by application 2016-2021 (%)
      • Table Global smart well by application 2016-2021 ($ billion)
    • Global smart well market by onshore
      • Table Global smart well market by onshore 2016-2021 ($ billion)
    • Global smart well market by offshore
      • Table Global smart well market by offshore 2016-2021 ($ billion)
  • Geographical segmentation
    • Global smart well market by geography 2016-2021
      • Table Global smart well market by geography 2016-2021 (%)
      • Table Global smart well market by geography 2016-2021 ($ billion)
    • Global smart well market in the Americas
      • Table Global smart well market in the Americas 2016-2021 ($ billions)
      • Table US offshore rig count 2015-2016
      • Table US onshore rig count 2015-2016
    • Global smart well market in EMEA
      • Table Global smart well market in EMEA 2016-2021 ($ billions)
    • Global smart well market in APAC
      • Table Global Smart well market in APAC 2016-2021 ($ billions)
  • Market drivers
    • Migration of drilling into unconventional areas
      • Table Oil and natural gas produced from tight oil and shale gas in US 2005-2020
      • Table Shifting bases of hydrocarbon exploration
    • Increased use of horizontal and multilateral wells
      • Table Different well types
      • Table Illustration showing different well types
    • Focus on reduction of non-productive time (NPT)
    • Constant demand for oil and gas
      • Table Global oil demand (thousands of barrels per day)
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Decreasing investment in oil and gas industry
    • Uncertainties associated with low crude oil prices
      • Table Global crude oil price volatility over last decade 2007-2016 ($/bbl)
    • Cyber security concerns
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • IT integration and digitization of oil fields
      • Table Evolution digital oil field
      • Table Overview of digital oilfield technologies
    • Increase in Deepwater and ultra-Deepwater exploration
    • Fluctuation in oil rigs
  • Vendor landscape
    • Competitive Scenario
    • Other prominent vendors
      • Table Other prominent vendors of smart well product and solutions
  • Key vendor analysis
    • Baker Hughes
      • Table Business segmentation by revenue 2015
      • Table Geographical segmentation by revenue 2015
      • Table Product portfolio of Baker Hughes
    • Halliburton
      • Table Business segmentation by revenue 2015
      • Table Geographical segmentation by revenue 2015
      • Table Product portfolio of Halliburton
    • National Oilwell Varco
      • Table Product portfolio of National Oilwell Varco
    • Schlumberger
      • Table Business segmentation by revenue 2015
      • Table Geographical segmentation by revenue 2015
      • Table Product portfolio of Schlumberger
    • Weatherford International
      • Table Weatherford: Business segmentation by revenue 2015
      • Table Product portfolio of Weatherford International
  • Appendix
    • List of abbreviations
  • Explore Technavio

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