Reports
Reports
Sale
The United States well completion equipment and services market size reached approximately USD 2.43 billion in 2023. The market is projected to grow at a CAGR of 4.4% between 2024 and 2032, reaching a value of around USD 3.59 billion by 2032.
Well completion equipment and services refer to the tools, materials, and processes used to prepare an oil or gas well for production after drilling. This stage marks the transition from drilling to production within the oil and gas sector, involving a series of activities to enable the extraction of hydrocarbons from the reservoir.
The well completion equipment and services market in the United States is a pivotal segment within the broader oil and gas sector.
Meanwhile, some companies have been working on hydraulic fracturing techniques that minimise water usage or eliminate the need for water altogether. This is achieved by using alternative fracturing fluids, such as liquefied petroleum gas (LPG) or compressed air.
Based on type, the market can be segmented into packers, sand control tools, multi-stage fracturing tools, liner hangers, smart wells, and safety valves, among others. The market categorisation, based on location of deployment, includes onshore and offshore. The major regional markets for well-completion equipment and services in the United States are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States well completion equipment and services market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
According to the United States well completion equipment and services market analysis, multistage fracturing tools are expected to be high in demand, as they are an effective and cost-efficient solution for horizontal fracturing in both oil and natural gas wells. These tools are used in hydraulic fracturing operations to enhance oil and gas recovery from unconventional reservoirs such as shale formations.
Unconventional reservoirs like shale have low permeability, making it challenging for oil or gas to flow freely to the wellbore. Multi-stage fracturing tools enable the creation of multiple fractures along the horizontal wellbore, increasing the contact area between the well and the reservoir. This maximises hydrocarbon extraction from the formation.
The southeast region is expected to occupy a major portion of the United States well completion equipment and services market share. Texas is a significant contributor to the overall revenue, due primarily to its position as the leading oil-producing state in the country. In 2022 alone, Texas contributed a staggering total of 1.5 billion barrels of crude oil as well as 11.2 trillion cubic feet of total gas. The contribution came from 160,768 oil wells and around 70,246 gas wells.
Weatherford International Plc operates as a multinational oilfield service provider, offering an array of solutions across various facets of the oil and gas sector. Its specialisation lies in delivering equipment and services geared towards drilling, assessment, finalisation, production, and intervention in both oil and natural gas wells. The company's extensive suite comprises a diverse range of products, technologies, and tailored solutions aimed at meeting the specific requirements of exploration and production companies globally.
Baker Hughes Company stands as a prominent energy technology enterprise, providing comprehensive solutions tailored for the oil and gas sector. Its portfolio encompasses a wide spectrum of products and services spanning drilling, assessment, finalisation, production, and intervention processes. Renowned for its expertise, Baker Hughes excels in the development and deployment of cutting-edge technologies and solutions designed to bolster efficiency, reliability, and sustainability within oil and gas operations.
NOV Inc., also known as National Oilwell Varco, operates as a global supplier of equipment and technological solutions specifically tailored for the upstream oil and gas sector. Its specialisation lies in the conception, production, and servicing of drilling equipment, wellbore technologies, completion tools, and production equipment. NOV's offerings are dedicated to enhancing operational efficiency, safety, and performance within drilling and production endeavours.
Other key players in the United States well completion equipment and services market are National Energy Services Reunited Corp., Halliburton Energy Services, Inc., Schlumberger Ltd., Welltec A/S, ChampionX Corp., Schoeller Bleckmann Oilfield Equipment AG, and Superior Energy Services, Inc., among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Type |
|
Breakup by Location of Deployment |
|
Breakup by Region |
|
Market Dynamics |
|
Competitive Landscape |
|
Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Well Completion Equipment and Services Market Overview
8.1 Key Industry Highlights
8.2 North America Well Completion Equipment and Services Historical Market (2018-2023)
8.3 North America Well Completion Equipment and Services Market Forecast (2024-2032)
9 United States Well Completion Equipment and Services Market Overview
9.1 Key Industry Highlights
9.2 United States Well Completion Equipment and Services Historical Market (2018-2023)
9.3 United States Well Completion Equipment and Services Market Forecast (2024-2032)
10 United States Well Completion Equipment and Services Market by Type
10.1 Packers
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Sand Control Tools
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Multi-Stage Fracturing Tools
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Liner Hangers
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Smart Wells
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Safety Valves
10.6.1 Historical Trend (2018-2023)
10.6.2 Forecast Trend (2024-2032)
10.7 Others
11 United States Well Completion Equipment and Services Market by Location of Deployment
11.1 Onshore
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Offshore
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 United States Well Completion Equipment and Services Market by Region
12.1 New England
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Mideast
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Great Lakes
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Plains
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Southeast
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Southwest
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Rocky Mountain
12.7.1 Historical Trend (2018-2023)
12.7.2 Forecast Trend (2024-2032)
12.8 Far West
12.8.1 Historical Trend (2018-2023)
12.8.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Weatherford International Plc
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Baker Hughes Company
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 NOV Inc.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 National Energy Services Reunited Corp.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Halliburton Energy Services, Inc.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Schlumberger Ltd.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Welltec A/S
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 ChampionX Corp.
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Schoeller Bleckmann Oilfield Equipment AG
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Superior Energy Services, Inc.
14.2.10.1 Company Overview
14.2.10.2 Product Portfolio
14.2.10.3 Demographic Reach and Achievements
14.2.10.4 Certifications
14.2.11 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Well Completion Equipment and Services Market: Key Industry Highlights, 2018 and 2032
2. United States Well Completion Equipment and Services Market: Key Industry Highlights, 2018 and 2032
3. United States Well Completion Equipment and Services Historical Market: Breakup by Type (USD Billion), 2018-2023
4. United States Well Completion Equipment and Services Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. United States Well Completion Equipment and Services Historical Market: Breakup by Location of Deployment (USD Billion), 2018-2023
6. United States Well Completion Equipment and Services Market Forecast: Breakup by Location of Deployment (USD Billion), 2024-2032
7. United States Well Completion Equipment and Services Historical Market: Breakup by Region (USD Billion), 2018-2023
8. United States Well Completion Equipment and Services Market Forecast: Breakup by Region (USD Billion), 2024-2032
9. United States Well Completion Equipment and Services Market Structure
In 2023, the market reached an approximate value of USD 2.43 billion.
The market is projected to grow at a CAGR of 4.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 3.59 billion by 2032.
The market is driven by the advancements in technology and the rising importance of sustainability within the oil and gas sector which is favoring the adoption of environmental friendly practices.
The growing exploration activities related to shale gas and tight oil are expected to propel the market development.
The major regional markets are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The different types are packers, sand control tools, multi-stage fracturing tools, liner hangers, smart wells, and safety valves, among others.
The key players in the market include Weatherford International Plc, Baker Hughes Company, NOV Inc., National Energy Services Reunited Corp., Halliburton Energy Services, Inc., Schlumberger Ltd., Welltec A/S, ChampionX Corp., Schoeller Bleckmann Oilfield Equipment AG, and Superior Energy Services, Inc., among others.
Mini Report
Single User License
Five User License
Corporate License
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Right People
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.
Right Methodology
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.
Right Price
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.
Right Support
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.