Europe Drilling and Completion Fluids Market by Type (Water Based, Synthetic Based, Oil Based & others), By Application (onshore & Offshore), By Countries - Regional Trend & Forecast to 2019
The European drilling and completion fluids market is expected to grow at a CAGR of 6.5% from 2014 to 2019. Continuous increase in the demand for energy, growth in drilling and oil production activities, increasing advancements in technology, and rise in exploration of oil & gas reserves are the key drivers for growth of the European drilling and completion fluids market. Fall in crude oil prices, strict government & environmental policies, and high market competition are the major restraints of the drilling and completion fluids market in Europe. In 2013, Russia alone accounted for approximately 87% of the European drilling and completion fluids market. The U.K. and Norway are emerging markets for drilling and completion fluids services.
In this report, the European drilling and completion fluids market has been classified in mainly four types of segments: water-based systems, oil-based systems, synthetic-based systems, and others. In 2014, Water-based systems are estimated to account for the largest market share, followed by oil-based systems and synthetic-based systems.
Russia was estimated to be the largest market with a share of 87% in 2014, followed by Norway and the U.K. On the basis of application, the drilling and completion fluids market has been segmented into onshore and offshore. In this, the onshore application dominated the drilling and completion fluids market. Baker Hughes (U.S.), Halliburton (U.S.), M-I Swaco (U.S.), Newpark Resource Inc. (U.S.), and Anchor Drilling Fluids USA, Inc. (U.S.) are the major players of this market.
Reasons to Buy the Report:
This report gives insights on various levels of analysis including industry trends, PEST analysis, and market share analysis of top players. The company profiles comprise and discuss the basic views on the competitive landscape and emerging & high-growth segments of the drilling & completion fluids market. The report provides insights of high-growth countries in Europe and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn, will help firms to garner greater market shares. Firms purchasing the report could use any one or combination of the below mentioned five strategies (mergers & acquisitions, technological developments/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
Mergers & Acquisitions: Getting acquired or merged with another organization helps in technology sharing, low-cost production, and sustainability against price fluctuations.
New Technology Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the drilling & completion fluids market.
Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the requirements of drilling & completion fluids market for various countries.
Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the drilling & completion fluids market.
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the drilling & completion fluids market.