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Well Cementing Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global well cementing services market reached a value of US$ 8.30 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 11.30 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Well cementing is a process wherein cement and casing strings are utilized for creating structural barriers that prevent problems, such as gas leaks and well blowouts. It relies on primary and remedial cementing to inject cement into strategic well locations for various purposes, such as well repairing and abandonment. It is used to seal a lost circulation area in a well with a reduction or absence of flow. In addition, it finds application in directional drilling for blocking an existing well and running a directional well from any location. At present, there is a rise in the demand for well cementing services due to the increasing rehabilitation activities in existing oil and gas fields across the globe.

 

 
 

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Well Cementing Services Market Trends:

The growing drilling activities for recovering unconventional hydrocarbons, such as shale and tight gas, to lower natural gas prices, and increase energy security and the availability of energy fuels, represent one of the key factors driving the market. Moreover, rapid technological advancements in well cementing equipment and services to reduce time consumption are propelling the growth of the market. In addition, several oil and gas companies are focusing on constructing new wells to increase the production of oil globally. They are also investing in various onshore projects, which, in turn, is positively influencing the market. Besides this, the rising energy requirements in residential and non-residential sectors around the world are offering lucrative growth opportunities to industry investors. Apart from this, there is an increase in the number of skilled labor in the upstream sector. This, coupled with the rising number of offshore and onshore reserves worldwide, is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global well cementing services market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, well type and application.

Breakup by Type:

 

 
 

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  • Primary
  • Remedial
  • Others
     

Breakup by Well Type:

  • Oil
  • Gas
  • Shale Gas
     

Breakup by Application:

  • Onshore
  • Offshore
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Advanced Cementing Services Incorporated, Baker Hughes Company, Calfrac Well Services Ltd., China Oilfield Services Limited (China National Offshore Oil Corporation), Gulf Energy SAOC (National Energy Services Reunited), Halliburton Company, Magnum Cementing Services Ltd., Sanjel Energy Services, Schlumberger Limited, Trican Well Service Ltd., Viking Services and Weatherford International PLC.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Well Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Advanced Cementing Services Incorporated, Baker Hughes Company, Calfrac Well Services Ltd., China Oilfield Services Limited (China National Offshore Oil Corporation), Gulf Energy SAOC (National Energy Services Reunited), Halliburton Company, Magnum Cementing Services Ltd., Sanjel Energy Services, Schlumberger Limited, Trican Well Service Ltd., Viking Services and Weatherford International PLC.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
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Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Well Cementing Services Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Primary
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Remedial
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Others
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Well Type
    7.1    Oil
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Gas
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Shale Gas
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by Application
    8.1    Onshore
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Offshore
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis
    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Advanced Cementing Services Incorporated
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
        14.3.2    Baker Hughes Company
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
           14.3.2.4 SWOT Analysis
        14.3.3    Calfrac Well Services Ltd.
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
           14.3.3.3 Financials
           14.3.3.4 SWOT Analysis
        14.3.4    China Oilfield Services Limited (China National Offshore Oil Corporation)
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
        14.3.5    Gulf Energy SAOC (National Energy Services Reunited)
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
        14.3.6    Halliburton Company
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    Magnum Cementing Services Ltd.
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
        14.3.8    Sanjel Energy Services
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
        14.3.9    Schlumberger Limited
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
           14.3.9.4 SWOT Analysis
        14.3.10    Trican Well Service Ltd.
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    Viking Services 
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
        14.3.12    Weatherford International PLC
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 Financials
           14.3.12.4 SWOT Analysis

List of Figures

Figure 1: Global: Well Cementing Services Market: Major Drivers and Challenges
Figure 2: Global: Well Cementing Services Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Well Cementing Services Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Well Cementing Services Market: Breakup by Type (in %), 2021
Figure 5: Global: Well Cementing Services Market: Breakup by Well Type (in %), 2021
Figure 6: Global: Well Cementing Services Market: Breakup by Application (in %), 2021
Figure 7: Global: Well Cementing Services Market: Breakup by Region (in %), 2021
Figure 8: Global: Well Cementing Services (Primary) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Well Cementing Services (Primary) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Well Cementing Services (Remedial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Well Cementing Services (Remedial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Well Cementing Services (Other Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Well Cementing Services (Other Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Well Cementing Services (Oil) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Well Cementing Services (Oil) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Well Cementing Services (Gas) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Well Cementing Services (Gas) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Well Cementing Services (Shale Gas) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Well Cementing Services (Shale Gas) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Well Cementing Services (Onshore) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Well Cementing Services (Onshore) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Well Cementing Services (Offshore) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Well Cementing Services (Offshore) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: North America: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: North America: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: United States: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: United States: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Canada: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Canada: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Asia-Pacific: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Asia-Pacific: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: China: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: China: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Japan: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Japan: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: India: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: India: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: South Korea: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: South Korea: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Australia: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Australia: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Indonesia: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Indonesia: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Others: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Others: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Europe: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Europe: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Germany: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Germany: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: France: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: France: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: United Kingdom: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: United Kingdom: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Italy: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Italy: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Spain: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Spain: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Russia: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Russia: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Others: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Others: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Latin America: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Latin America: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Brazil: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Brazil: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Mexico: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Mexico: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Others: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Others: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Middle East and Africa: Well Cementing Services Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Middle East and Africa: Well Cementing Services Market: Breakup by Country (in %), 2021
Figure 72: Middle East and Africa: Well Cementing Services Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Global: Well Cementing Services Industry: SWOT Analysis
Figure 74: Global: Well Cementing Services Industry: Value Chain Analysis
Figure 75: Global: Well Cementing Services Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Well Cementing Services Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Well Cementing Services Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Well Cementing Services Market Forecast: Breakup by Well Type (in Million US$), 2022-2027
Table 4: Global: Well Cementing Services Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Well Cementing Services Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Well Cementing Services Market: Competitive Structure
Table 7: Global: Well Cementing Services Market: Key Players


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Key Questions Answered in This Report

The global well cementing services market was valued at US$ 8.30 Billion in 2021.

We expect the global well cementing services market to exhibit a CAGR of 5.10% during 2022-2027.

The expanding oil and gas sector, along with the growing adoption of well cementing services in directional drilling for blocking an existing well and running a directional well from any location, is primarily driving the global well cementing services market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in various construction activities, thereby limiting the demand for well cementing services.

Based on the type, the global well cementing services market has been segmented into primary, remedial, and others. Among these, primary type currently exhibits a clear dominance in the market.

Based on the application, the global well cementing services market can be bifurcated into onshore and offshore. Currently, onshore accounts for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.

Some of the major players in the global well cementing services market include Advanced Cementing Services Incorporated, Baker Hughes Company, Calfrac Well Services Ltd., China Oilfield Services Limited (China National Offshore Oil Corporation), Gulf Energy SAOC (National Energy Services Reunited), Halliburton Company, Magnum Cementing Services Ltd., Sanjel Energy Services, Schlumberger Limited, Trican Well Service Ltd., Viking Services, and Weatherford International PLC.

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