Increasing drilling activities worldwide due to high crude oil demand is expected to drive the sand control systems market over the next six years. Crude oil demand is rising owing to increasing energy demand across the globe. Sand control system prevents reservoir sand movement into the wellbore and enhances their productivity. This system has gained high acceptance since last decade with efficient outcomes of higher flow rate and production in oil extraction activities. Sand control system deployment on oil fields has led to the removal of downhole cavities which bring inefficiencies in the process and early maturation of wells. This system installation reduces the overall extraction & production cost and also helps delaying the wearing and attrition time of employed equipment. Sand control system on offshore fields is expected to witness highest growth as it reduces the well failures on account of sand accumulation in wellbores especially in deep and ultra-deep water wells. Onshore oil extraction fields covered the largest market share in 2013, owing to large capacity onshore reservoirs.
On the basis of technology, sand control system is classified into six categories as plastic consolidation, rate exclusion, resin coated gravel, gravel packing, frac pack and stand-alone screens. Gravel packing technology is mostly used in both onshore and offshore oil extraction activities. Technology selection depends on factors as clay content, operational cost, grain size distribution, flow rate and well deviation.
Asia pacific was the largest sand control system market on account of increasing drilling activities in 2013. Increasing population in the emerging countries raised the demand for energy and hence increased crude oil import. India, China, Japan and South Korea imported largest amount of crude oil in the region which provides immense opportunities to sand control market participants. Major participants installed this system in crude oil extracting which increased the efficiency and prevented equipment from damage. South America is expected to witness significant growth owing to rising drilling activities in Brazil, Venezuela, and Argentina. Major sand control systems market players have installed the system on offshore oil fields at the beginning of drilling to maintain an optimal efficiency. Advancement in technology in the system according to the type of earth crust in various regions is projected to create opportunities for sand control system market.
Sand control systems market is moderately fragmented and major players include Baker Hughes, Schlumberger, Halliburton, Weatherford International Ltd, National Oilwell Varco. On 10 March, 2011 Baker Hughes announced their new GeoForm sand management system. A new approach to sand control system which reliably fits to the borehole in an openhole system which improves their efficiency, mitigating risks and reducing rig time associated with conventional techniques. Such advancements in technologies are expected to create immense opportunities over the forecast period.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."