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Global Well Testing Services Market to Reach USD 11 Billion by 2026, Aided by Rising Exploration and Production Activities

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Global Well Testing Services Market: By Service: Down-Hole Testing, Real Time Well Testing, Reservoir Sampling and Analysis, Surface Well Testing; By Stage: Exploration, Appraisal, and Development, Production; By Application; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments

Global Well Testing Services Market Outlook

The global well testing services market reached a value of about USD 9.2 billion in 2020. The market is further expected to grow at a CAGR of 3% in the forecast period of 2021-2026 to reach a value of approximately USD 11 billion by 2026.

 

Well Testing Services Market

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Real Time Well Testing Services Accounted for the Leading Market Share

The real time well testing segment, among other services, dominated the global market owing to its ability to provide optimised and stabilised results and relatively high accuracy. The real time well testing services are followed by the downhole testing services. The downhole testing service is known for its cost-effectiveness and accounts for a significant share in the industry. Currently, the surface well testing services account for a minor share in the industry, but it is expected to witness a healthy growth in the coming years.


North America Well Testing Services Market to be Aided by Rising Shale Gas Activities

The market is dominated by the North America region. The demand is growing in the region due to the growing shale gas activities in the United States and the rising investments in the exploration and production (E&P) activities. Other significant markets for the product include the Middle East and Africa and Europe. Within the Asia Pacific, increasing E&P expenditure in countries like China, Malaysia, and India is expected to provide enhanced growth opportunities for the market expansion.

 

Well Testing Services Market by Service

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Well Testing Services: Industry Definition and Segmentation

Well testing refers to the acquisition of information and data in order to know the properties of the reservoir and the rock formation. The ultimate aim of well testing is to understand and monitor the capacity of reservoirs to generate hydrocarbons like oil, gas, condensates, and others. The well testing process has multiple applications, such as fluid characterisation, reservoir characterisation, formation pressure measurement, and permeability and skin interpretation, in the oil and gas industry.

Based on services, the market is divided into:

  • Down-Hole Testing
  • Real Time Well Testing
  • Reservoir Sampling and Analysis
  • Surface Well Testing

Based on stage, the industry can be segmented into:

  • Exploration, Appraisal, and Development
  • Production

On the basis of application, the market is divided into:

  • Onshore
  • Offshore

The regional markets for the service include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Well Testing Services Market by Region

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Rising Oil Drilling Activities to Support the Global Well Testing Services Market

The global well testing services market is being driven by the rising demand for energy across the globe, growing exploration and production (E&P) expenditure, and a rise in drilling activities. The increase in oil and gas discoveries in different parts of the world and favourable regulatory policies are creating new opportunities for the players, and thus, propelling the overall industry forward.

The regions like the United States and Canada are expected to witness a rise in shale gas and drilling activities and contribute to enhanced oil production, thus, aiding the market growth in North America.

Over the forecast period, the adoption of high precision measurement while drilling and reservoir condition measurement instruments are expected to increase, which will significantly aid the market growth. The rapid technological advancements and developing oil and gas industry are expected to have a positive effect on the expansion of the market. However, volatile crude oil prices might hamper the industry growth.


Key Industry Players in the Global Well Testing Services Market

The report gives a detailed analysis of the following key players in the global well testing services market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Expro International Group
  • Halliburton Energy Services, Inc.
  • Tetra Technologies Inc.
  • Greene’s Energy Group
  • Weatherford International plc
  • Schlumberger Limited
  • SGS SA
  • TechnipFMC plc
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Well Testing Services Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Well Testing Services Historical Market (2016-2020) 
    8.3    Global Well Testing Services Market Forecast (2021-2026)
    8.4    Global Well Testing Services Market by Service
        8.4.1    Down-Hole Testing
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Real Time Well Testing
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Reservoir Sampling and Analysis
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Surface Well Testing
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
    8.5    Global Well Testing Services Market by Stage
        8.5.1    Exploration, Appraisal, and Development
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Production
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
    8.6    Global Well Testing Services Market by Application
        8.6.1    Onshore
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Offshore
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
    8.7    Global Well Testing Services Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape
    12.1    Market Structure
    12.2    Key Players
    12.3    Company Profiles
        12.3.1    Expro International Group
            12.3.1.1    Company Overview
            12.3.1.2    Product Portfolio
            12.3.1.3    Demographic Reach and Achievements
            12.3.1.4    Certifications
        12.3.2    Halliburton Energy Services, Inc.
            12.3.2.1    Company Overview
            12.3.2.2    Product Portfolio
            12.3.2.3    Demographic Reach and Achievements
            12.3.2.4    Certifications
        12.3.3    Tetra Technologies Inc.
            12.3.3.1    Company Overview
            12.3.3.2    Product Portfolio
            12.3.3.3    Demographic Reach and Achievements
            12.3.3.4    Certifications
        12.3.4    Greene’s Energy Group
            12.3.4.1    Company Overview
            12.3.4.2    Product Portfolio
            12.3.4.3    Demographic Reach and Achievements
            12.3.4.4    Certifications
        12.3.5    Weatherford International plc
            12.3.5.1    Company Overview
            12.3.5.2    Product Portfolio
            12.3.5.3    Demographic Reach and Achievements
            12.3.5.4    Certifications
        12.3.6    Schlumberger Limited
            12.3.6.1    Company Overview
            12.3.6.2    Product Portfolio
            12.3.6.3    Demographic Reach and Achievements
            12.3.6.4    Certifications
        12.3.7    SGS SA
            12.3.7.1    Company Overview
            12.3.7.2    Product Portfolio
            12.3.7.3    Demographic Reach and Achievements
            12.3.7.4    Certifications
        12.3.8    TechnipFMC plc
            12.3.8.1    Company Overview
            12.3.8.2    Product Portfolio
            12.3.8.3    Demographic Reach and Achievements
            12.3.8.4    Certifications
        12.3.9    Others
13    Industry Events and Developments

 

List of Figures and Tables

1.    Global Well Testing Services Market: Key Industry Highlights, 2016 and 2026
2.    Global Well Testing Services Historical Market: Breakup by Service (USD Billion), 2016-2020
3.    Global Well Testing Services Market Forecast: Breakup by Service (USD Billion), 2021-2026
4.    Global Well Testing Services Historical Market: Breakup by Stage (USD Billion), 2016-2020
5.    Global Well Testing Services Market Forecast: Breakup by Stage (USD Billion), 2021-2026
6.    Global Well Testing Services Historical Market: Breakup by Application (USD Billion), 2016-2020
7.    Global Well Testing Services Market Forecast: Breakup by Application (USD Billion), 2021-2026
8.    Global Well Testing Services Historical Market: Breakup by Region (USD Billion), 2016-2020
9.    Global Well Testing Services Market Forecast: Breakup by Region (USD Billion), 2021-2026
10.    North America Well Testing Services Historical Market: Breakup by Country (USD Billion), 2016-2020
11.    North America Well Testing Services Market Forecast: Breakup by Country (USD Billion), 2021-2026
12.    Europe Well Testing Services Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    Europe Well Testing Services Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Asia Pacific Well Testing Services Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Asia Pacific Well Testing Services Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Latin America Well Testing Services Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Latin America Well Testing Services Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Middle East and Africa Well Testing Services Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Middle East and Africa Well Testing Services Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    Global Well Testing Services Market Structure

Key Questions Answered in the Report

What was the global well testing services market size in 2020?

In 2020, the market attained a value of nearly USD 9.2 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 3% between 2021 and 2026.

What is the forecast outlook of the market for 2021-2026?

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 11 billion by 2026.

What are the major industry drivers?

The major drivers of the industry, such as rising disposable incomes, rising energy demand, increasing exploration and production (E&P) expenditure, growth in drilling activities, and the rise in oil and gas discoveries, are expected to aid the market growth.

What are the key industry trends in the market?

The key trends guiding the growth of the market include the growing adoption of high precision measurements and reservoir condition measurement instruments.

What are the major regional markets of well testing services, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest market share.

What is the leading service type of well testing services in the industry?

The leading service type in the industry is real time well testing.

What are the major stages of well testing services?

The major stages of well testing services are exploration, appraisal, and development and production.

What are the dominant application segments of well testing services?

The dominant application segments of well testing services are onshore and offshore.

Who are the key industry players according to the report?

The major players in the industry 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.

Analyst Review

The global well testing services market attained a value of USD 9.2 billion in 2020, driven by growing energy demand. Aided by the rising shale gas explorations, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 3%. The market is projected to reach USD 11 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By services, the market is segmented into down-hole testing, real time well testing, reservoir sampling and analysis, and surface well testing, with real time well testing leading the market. On the basis of stage, the industry is bifurcated into exploration, appraisal, and development and production. Based on application, the industry is divided into onshore and offshore. The major regional markets for well testing services are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include 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.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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