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Well Intervention Market Estimated to be worth $19.63 Billion by 2019 - A New Report by MarketsandMarkets

(PRWEB) September 04, 2014

The report "Well Intervention Market by Service Types (Logging & Bottom Hole Survey, Tubing/Packer Failure & Repair, Stimulation, Artificial Lift, Others), Application Areas (Onshore & Offshore), and Geography - Global Trends & Forecast to 2019", defines and segments the global well intervention/workover services market with analysis and forecast of the global revenue.

Browse 81 market data tables with 33 figures spread through 230 pages and in-depth TOC on “Well Intervention Market by Service Types (Logging & Bottom Hole Survey, Tubing/Packer Failure & Repair, Stimulation, Artificial Lift, Others), Application Areas (Onshore & Offshore), and Geography - Global Trends & Forecast to 2019.”

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Well intervention/workover services market is mainly driven by growing demand for energy and aging of existing brown oil fields. Americas, due to its huge number of oil and gas wells and thriving investment in oil fields developments in deeper waters, is the major growth engine for this market. U.S., as a country, is the largest end user for well intervention services and is expected to continue with the same trend.

The soaring energy demand is pressurizing the field operators to increase the production of hydrocarbons. As the existing oil and gas reserves are depleting, the need for well intervention services is gaining its pace. On the other hand, the maturity of existing oil and gas wells also leads to greater extent of intervention/workover services. This trend makes the well intervention industry lucrative for both equipment manufacturers and service operators. On account of heavy demand for oil and continuous reduction in replacement of depleting hydrocarbon reservoirs, the well intervention services market will experience a tremendous increase in demand in the years to come.

The market has been estimated from the demand point of view. This report breaks the market into smaller service segments. In order to provide a deeper understanding of the competitive landscape, the report profiles 15 companies in the well intervention services market.

Well Intervention Services Market Revenue, 2012 - 2019

Well Intervention Services Market

Source: MarketsandMarkets Analysis

The global well intervention services market will grow from an estimated $11.32 billion in 2014. This value is expected to increase to $19.63 billion by 2019 at a CAGR of 11.6% during the same period. North America is expected to lead the global well intervention services market with a share of nearly 31% in terms of value generation in 2014.

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