As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The global well testing services market is being aided by the growing exploration and production activities and the growing energy demand. Currently, surface well testing services are the only technique that can provide customers with true reservoir capacity at full scale under dynamic conditions. It validates enhanced output during cleanup and commissioning and facilitates the monitoring of reservoirs to help enhance the field management practices. With the companies providing a wide range of surface well testing devices for the exploration and appraisal phase, the customers are expected to get more accurate and reliable surface well test measurements during each stage of the field development. Thus, it is expected that the growth of the segment over the forecast period will aid the overall market.
Some of the major companies in the global well testing services market include Halliburton Energy Services, Inc., a subsidiary of Halliburton Company (NYSE: HAL), Tetra Technologies, Inc. (NYSE: TTI), and Schlumberger Limited (NYSE: SLB). The growing investments by the companies to enhance their product portfolio will also accelerate the market growth. In May 2021, Tetra Technologies, Inc. announced that the company’s portfolio mix and completion fluids and products segment had aided it to achieve strong first quarter 2021 results, with the sales coming from a strong international offshore fluid demand or from the customers engaged in deepwater completion projects.
The favourable government initiatives in the emerging nations are further aiding the market growth. In August 2018, Baker Hughes announced that the company had bagged an oilfield development contract from Cairn Oil & Gas, a subsidiary of Vedanta Ltd, to build nearly 300 new wells and leverage a chemical enhanced oil recovery (EOR) programme in Rajasthan, India to increase oil and gas production across three fields in the area and support the government’s vision of minimising dependency on imports. The project marks one of the largest integrated projects for Baker Hughes in India, which will allow the company to strengthen its foothold in the country. Such developments are expected to aid the global well testing services market growth in the coming years.
Market Breakup by Services, Stage, Application, and Regions:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global well testing services market are Expro International Group, Halliburton Energy Services, Inc., Tetra Technologies Inc., Greene’s Energy Group, Weatherford International plc, Schlumberger Limited, SGS SA, and TechnipFMC plc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.