The global sand control systems market in 2015 witnessed a decline due to a substantial fall in drilling and exploration activities and sharp reduction in global rig count. The decline in number of oil rigs is anticipated to last for a while, due to which, the overall growth of the market is expected to be cyclical in nature till 2020. Growth prospects are expected to rise again as global oil prices reach a steady price value. Stability in oil prices will consecutively lead to increase in drilling and exploration activities and an increased demand for a variety of sand control systems across the globe.
Transparency Market Research estimates that the global sand control systems market will exhibit a healthy 5.8% CAGR from 2016 and 2024. If the number holds true, the market, which held an opportunity of US$3,222.5 mn in 2015, will rise to a valuation of US$5,372.8 mn by 2024.
Gravel Packing Techniques to Continue to Rank High
Of the key techniques used for minimizing sand production across a number of application areas, the ones analyzed in the report include rate exclusion, resin coated gravel, plastic consolidation, standalone screens, frac pack, and gravel packing. Of these, the segment of gravel packing held the dominant position, accounting for a nearly 29% share in the global sand control systems market in 2015. The segment is expected to witness expansion at a healthy pace in the next few years and retain its dominant position, achieving a slight rise in its overall share in the global sand control systems market by 2024.
The segment of standalone screens ranked second in terms of revenue contribution to the global sand control systems market, charting a nearly 26% share of the market’s overall revenues in 2015. The global demand for sand control screen is expected to rise at a healthy pace in the next few years, enabling the segment to take a larger share in the global market by 2024. Frac pack, accounting for nearly 18% of the global market in 2015, is also one of the most preferred sand control techniques, especially in North America and Europe. The shale gas boom in these regions has propelled the sand control systems market.
Asia Pacific and MEA to Remain Most Promising Regional Markets
Of the key regional markets for sand control systems, Asia Pacific dominated the global market 2015, accounting for a 27.5% share. Dominance of the region in the global sand control systems market can be primarily ascribed to the ongoing oil and gas well drilling and completion activities in countries such as Australia, Indonesia, Malaysia, and Myanmar. Rising population and rapid industrialization have led to a significant rise in energy demand in the region, reason why the demand for sand control systems is mounting. In terms of revenue, the sand control systems market in Asia Pacific region valued US$886.8 mn in 2015 and is expected to remain the most attractive regional market in the years to come.
The market for sand control systems in Middle East and Africa is driven by large offshore discoveries and huge proven oil reserves in countries such as Saudi Arabia and UAE. Vast drilling activities across the region also make it an attractive market for sand control systems. Moreover, new oil and gas discoveries in countries such as Nigeria and Angola are expected to further boost the market.
The competitive landscape of the global sand control systems market is highly consolidated, with the top four companies accounting for a collective share of over 92% of the overall market in 2015. These top players in the market are Schlumberger Limited, Halliburton Company, Weatherford International, and Baker Hughes, Inc. Other notable vendors in the market are Superior Energy Services, RPC Inc., Inc., Welltec A/S, Grit Industries, Inc., and Tendeka.
This report analyzes and forecasts the market for sand control systems at the global and regional level. The market has been forecast based on revenue (US$ Mn) from 2016 to 2024. The study includes drivers and restraints of the global sand control systems market. It also covers the impact of these drivers and restraints on demand for sand control systems during the forecast period. The report also highlights the opportunities in the sand control systems market at the global and regional level.
The report includes a detailed value chain analysis, which provides a comprehensive view of the global sand control systems market. Porter’s Five Forces model for the sand control systems market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global sand control systems market by segmenting it in terms of techniques. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for sand control systems in North America, Europe, Asia Pacific, South and Central America, and Middle East & Africa. The report also covers demand for individual technique segments in all the regions.
The study includes profiles of major companies operating in the global sand control systems market. Key players include Baker Hughes, Inc., 3M, Grit Industries, Inc., Halliburton, RPC Inc., Schlumberger Limited, Superior Energy Services, Inc., Variperm (Canada) Limited, Weatherford International Ltd., Welltec A/S, and Tendeka. Market players are profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, and SWOT analysis.
The report provides the estimated market size of sand control systems for 2015 and forecast for the next nine years. The global market size of sand control systems is provided in terms of revenue. Market numbers are estimated based on key technique segments of sand control systems. Market size and forecast for each major technique is provided in terms of global and regional markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, U.S. Energy Information Administration (EIA), Oil & Gas Journal, BP Statistical Review of World Energy, Upstream online, Bloomberg, Hoover’s, Factiva, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
Primary research involves e-mail interactions, telephonic interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
The report segments the global sand control systems market as:
Sand Control Systems Market - Technique Analysis
- Rate Exclusion
- Resin Coated Gravel
- Plastic Consolidation
- Stand-Alone Screens
- Gravel Packing
- Frac Pack
Sand Control Systems Market - Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South and Central America
- Rest of South and Central America
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA