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Global Well Cementing Market Analysis & Forecast to 2024 - Schlumberger, Halliburton, and Baker Hughes Together Hold Over 70% Share in the Market - ResearchAndMarkets.com

May 15, 2019 GMT

DUBLIN--(BUSINESS WIRE)--May 15, 2019--

The “Well Cementing Market by Service Type, by Well Type, by Application, by Geography Global Market Size, Share, Development, Growth, and Demand Forecast, 2014-2024” report has been added to ResearchAndMarkets.com’s offering.


According to this research, the well cementing market is predicted to attain a size of $10,065.4 million by 2024, advancing at a CAGR of 4.7% during the forecast period (2019-2024).

This is attributed to the rising exploration and production (E&P) in both unconventional and conventional oil and gas reserves, which is itself driven by the increasing demand for energy products, such as fuel oil, heating oil, gasoline, gas oil, aviation turbine fuel, piped natural gas, liquified petroleum gas, and compressed natural gas.

The well cementing market is segmented by well type, service type, application, and geography. On the basis of service type, the market is categorized into remedial, primary, and others (advanced cementing). Out of these, in 2018, the primary cementing category held the largest revenue share of over 75% in the market. The downfall in the prices of crude oil in 2014 globally that had an adverse impact on the E&P investment, resulting in the slow growth of the primary cementing market during the historical period. However, since 2017, this market has been recovering on account of a renewal in crude oil prices.

Now, on the basis of well type, the well cementing market is divided into shale gas, oil, and gas. During the forecast period, the shale gas wells division is predicted to register the fastest growth with a CAGR of more than 6%. Due to the discovery of shale gas and large-scale E&P investments in the U.S., the market is expected to continue growing. Further, based on application, the market is bifurcated into offshore and onshore. During 2019-2024, the offshore application is anticipated to grow at a rapid pace, with a CAGR of over 5% in the market.

Moreover, in recent years, there have been some major discoveries of offshore reserves worldwide, such as in the Arctic and Guyana, which are predicted to propel the application of well cementing in offshore fields during the forecast period. In 2018, North America led the well cementing market with a revenue contribution of more than 35%. Furthermore, large-scale investments in the oil and gas industry, especially in well drilling for shale gas in Canada and the U.S., continue to propel the demand for well cementing services in North America.


Quite consolidated in nature, the well cementing market is characterized by the presence of a small number of players, holding significant shares. Multinational corporations are the key players providing well cementing services in various oil and gas-producing countries, globally. Companies such as Schlumberger Limited, Halliburton Company, and Baker Hughes, a General Electric subsidiary, together hold over 70% share in the market.

Key Topics Covered

Chapter 1. Research Background

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.3.1 Market Segmentation by Service Type

1.3.2 Market Segmentation by Well Type

1.3.3 Market Segmentation by Application

1.3.4 Market Segmentation by Geography

1.3.5 Analysis Period

1.3.6 Market Data Reporting Unit Value

1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research

2.2 Primary Research

2.2.1 Breakdown of Primary Research Respondents By region By industry participant By company type

2.3 Market Size Estimation

2.4 Data Triangulation

2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

4.1.1 By Service Type Primary Remedial Others

4.1.2 By Well Type Oil Gas Shale Gas

4.1.3 By Application Onshore Offshore

4.2 Value Chain Analysis

4.3 Market Dynamics

4.3.1 Drivers Recovery in the oil and gas industry and growth in E&P capex Increasing E&P activities in unconventional oil and gas reserves Growing demand for oil and gas Impact analysis of drivers on market forecast

4.3.2 Restraints Volatile nature of crude oil prices Impact analysis of restraints on market forecast

4.3.3 Opportunities Exploration of Arctic oil and gas reserves

4.4 Regulation Analysis

4.4.1 North America U.S. Canada

4.4.2 Europe Norway U.K.

4.4.3 APAC India

4.5 Global Onshore and Offshore Drilled Wells (2016-2017)

4.5.1 Onshore Drilled Wells

4.5.2 Offshore Drilled Wells

4.6 Cost Analysis

Chapter 5. Global Market Size and Forecast

5.1 By Service Type

5.2 By Well Type

5.3 By Application

5.4 By Region

Chapter 6. North America Market Size and Forecast

Chapter 7. Europe Market Size and Forecast

Chapter 8. APAC Market Size and Forecast

Chapter 9. LATAM Market Size and Forecast

Chapter 10. MEA Market Size and Forecast

Chapter 11. Competitive Landscape

11.1 Market Share Analysis of Key Players

11.2 List of Other Players

11.3 Competitive Benchmarking of Key Players

11.4 Strategic Developments of Key Players

11.4.1 Mergers and Acquisitions

11.4.2 Product Launches

11.4.3 Partnerships

11.4.4 Client Wins

Chapter 12. Company Profiles

12.1 Consolidated Oil Well Services LLC

12.1.1 Business Overview

12.1.2 Product and Service Offerings

12.2 Nine Energy Service Inc.

12.3 Gulf Energy SAOC

12.4 Magnum Cementing Services Ltd.

12.5 Calfrac Well Services Ltd.

12.6 China Oilfield Services Limited (COSL)

12.7 Baker Hughes, a GE company

12.8 Schlumberger N.V. (Schlumberger Limited)

12.9 Halliburton Company

12.10 Weatherford International plc

Chapter 13. Appendix

13.1 Abbreviations

13.2 Sources and References

13.3 Related Reports

For more information about this report visit https://www.researchandmarkets.com/r/u09m1q

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Related Topics:Oil and Gas Exploration and Production



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PUB: 05/15/2019 06:40 AM/DISC: 05/15/2019 06:40 AM