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The global well intervention market size reached US$ 7.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.5 Billion by 2027, exhibiting a growth rate (CAGR) of 4.55% 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 sectors. These insights are included in the report as a major market contributor.
Well intervention refers to a remedial operation performed on an oil or gas well to alter its state or geometry in order to increase or restore its production. It is generally performed via two methods, including light or heavy intervention. In a light intervention, technicians’ lower tools or sensors into a live well to minimize potential well blockages. On the other hand, in a heavy intervention, the rig crew stops production at the formation before making significant equipment changes and removes the wellhead and other pressure barriers from the well to allow full access to the wellbore.
At present, the market is experiencing growth on account of the rising number of mature oil and gas fields, along with the escalating demand for refined petroleum products due to rapid urbanization and industrialization, especially in emerging economies. Apart from this, governments of various countries are implementing taxation schemes to focus on the development of oil and gas reserves, which is also strengthening the growth of the market. Furthermore, increasing investments in technological advancements to improve exploration and production activities is propelling the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global well intervention market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on service type, well type and application.
Breakup by Service Type:
Breakup by Well Type:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aker Solutions, Archer Limited, Baker Hughes Company (General Electric), China Oilfield Services Ltd. (China National Offshore Oil Corporation), Expro Group, Halliburton Company, Schlumberger Limited, Scientific Drilling International Inc., Superior Energy Services Inc., Vallourec and Weatherford International Plc.
|Base Year of the Analysis||2021|
|Segment Coverage||Service 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||Aker Solutions, Archer Limited, Baker Hughes Company (General Electric), China Oilfield Services Ltd. (China National Offshore Oil Corporation), Expro Group, Halliburton Company, Schlumberger Limited, Scientific Drilling International Inc., Superior Energy Services Inc., Vallourec and Weatherford International Plc.|
|Customization Scope||10% Free Customization|
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|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)|
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