North America 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 North America drilling and completion fluids market is expected to grow at a CAGR of 4.2% from 2014 to 2019. Continuous increase in energy demand, growth in drilling & oil production activities, increasing technological advancements, and rise in exploration of oil & gas reserves are the key drivers of the North America drilling and completion fluids market. Fall in crude oil prices, strict government & environmental policies, and high market competition are the major restraints of this market. The U.S. alone accounts for approximately 83% of the total market share. Canada, on the other hand, is an emerging market for drilling and completion fluid services.
In this report, the market has been broadly classified into the type of fluid, on the basis of base fluid. The categories include oil-based system, water-based system, synthetic-based system, and others. The water-based system drilling and completion fluid is estimated to generate the maximum revenue, followed by oil-based system and synthetic-based system, respectively.
The U.S. is the market leader in the North America drilling and completion fluids market because maximum drilling and exploration activities take place in the U.S. The country is the market leader in the North American oil & gas sector, and onshore drilling activities are on a continuous rise, providing opportunities to key players. The U.S. is the most prominent country and a huge market for drilling and completion fluids. After the U.S., Canada holds the remaining share in the drilling and completion fluids market, and is projected to grow at a CAGR of 4.8% during the forecast period.
On the basis of application, the drilling and completion fluids market has been segmented into onshore and offshore regions. In this, onshore occupies the majority of share in the total market of drilling and completion fluids. Major companies involved in this market include Baker Hughes, Halliburton, M-I Swaco, Newpark Resource Inc., and Anchor Drilling.
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 basic views on the competitive landscape and emerging & high-growth segments of the North America drilling and completion fluids market. The report provides insights on high-growth countries in North America 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 the firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (mergers & acquisitions, technological developments/innovations, market developments, market diversifications, and competitive assessments) for strengthening their market share.
The report provides insights on the following pointers:
Mergers & Acquisitions: Acquire or get merged with another organization will help in technology sharing, low-cost production, and sustainability against price fluctuations.
New Technology Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the North America drilling and completion fluids market.
Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the requirements for the North America drilling and completion fluids market for various countries.
Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the North America drilling and completion fluids market.
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the North America drilling and completion fluids market.