The global well cementing market size is projected to reach USD 16.63 billion by 2026. Recent advancements in hydrocarbon exploration activities will emerge in favour of market growth. According to a report published by Fortune Business Insights, titled “Well Cementing Market Size, Share and Industry Analysis, By Type (Primary Cementing and Remedial Cementing), By Application (Onshore and Offshore), and Regional Forecast, 2019-2026,” the market was worth USD 8.82 billion in 2018. Driven by increasing investment in product RandD, the market will exhibit a CAGR of 8.3% during the forecast period, 2019-2026.
The global well cementing market size is projected to reach USD 16.63 billion by 2026 withCAGR of 8.3% during the forecast period, 2019-2026.
What Does the Report Contain?
• Elaborate information about various insights, such as global market trends, opportunities, challenges, growth drivers, and major obstacles.• Analysis of every segment present in the market.• Comprehensive analysis of the market by evaluating top players and following significant product positioning.
Well cementing ensures the durability of well casing and allows for greater efficacy. The demand for oil and gas resources has risen dramatically in recent years, accounting to the constantly rising global population. Recent advancements in hydrocarbon exploration techniques will aid the growth of the market in the coming years. The increasing investment in hydrocarbon drilling, coupled with the exponentially rising demand for oil and gas will constitute an increase in the well cementing market size in the forthcoming years. The adoption of standout business strategies aimed at the maximizing the use of hydrocarbons will open up a huge potential for the companies operating in this market.
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Key Questions Answered:
• What are the key technological and trends shaping the market?• What are the key opportunities in the market?• What are the key companies operating in the market?• Which company accounted for the highest market share?• Why Choose Fortune Business Insights?• What is the market size and growth rate of the global and regional market by various segments?• What is the market size and growth rate of the market for selective countries?• Which region or sub-segment is expected to drive the market in the forecast period?• What Factors are estimated to drive and restrain the Market growth?
North America to Emerge Dominant, Emphasis on Hydrocarbon Exploration to Aid Growth
The report analyses the ongoing well cementing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, North America will emerge dominant in countries such as the US and Canada will aid the growth of the market in this region. Additionally, the efforts taken to enhance hydrocarbon exploration and use will benefit the companies operating in the regional market. As of 2018, the market in North America was worth USD 3.83 billion and this value is likely to increase further in the coming years. Besides North America, Asia Pacific will witness considerable growth in the coming years, owing to the massive potential held by companies.
A few of the leading companies operating in the market include:
Increasing Number of Company Collaborations to Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, company collaborations have made the highest impact on the growth of the market. Many leading companies are looking to adopt newer strategies with a view to establishing a stronghold in the market. In July 2019, Halliburton and Kuwait Oil Company announced a collaboration for the offshore drilling service of six high-pressure high temperature exploration wells in the Arabian Gulf. This activity will not only help the company generate a substantial market revenue, but will also have a direct impact on the growth of the global market.
Market Segmentation
By Type
By Application
By Region
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Table of Content
5.Global Well Cementing Market Analysis (USD Billion), Insights and Forecast, 2015-20265.1.Key Findings / Summary5.2.Market Analysis, Insights and Forecast By Type5.2.1.Primary Cementing5.2.2.Remedial Cementing5.3.Market Analysis, Insights and Forecast By Application5.3.1.Onshore5.3.2.Offshore5.4.Market Analysis, Insights and Forecast By Region5.4.1.North America5.4.2.Latin America5.4.3.Europe5.4.4.Asia Pacific5.4.5.Middle East and Africa6.North America Well Cementing Market Analysis (USD Billion), Insights and Forecast, 2015-20266.1.Key Findings / Summary6.2.Market Analysis, Insights and Forecast By Type6.2.1.Primary Cementing6.2.2.Remedial Cementing6.3.Market Analysis, Insights and Forecast By Application6.3.1.Onshore6.3.2.Offshore6.4.Market Analysis, Insights and Forecast By Country6.4.1.U.S.6.4.2.Canada7.Latin America Well Cementing Market Analysis (USD Billion), Insights and Forecast, 2015-20267.1.Key Findings / Summary7.2.Market Analysis, Insights and Forecast By Type7.2.1.Primary Cementing7.2.2.Remedial Cementing7.3.Market Analysis, Insights and Forecast By Application7.3.1.Onshore7.3.2.Offshore7.4.Insights and Forecast By Country7.4.1.Brazil7.4.2.Mexico7.4.3.Argentina7.4.4.Venezuela7.4.5.Rest of Latin America8.Europe Well Cementing Market Analysis (USD Billion), Insights and Forecast, 2015-20268.1.Key Findings / Summary8.2.Market Analysis, Insights and Forecast By Type8.2.1.Primary Cementing8.2.2.Remedial Cementing8.3.Market Analysis, Insights and Forecast By Application8.3.1.Onshore8.3.2.Offshore8.4.Market Analysis, Insights and Forecast By Country8.4.1.UK8.4.2.Germany8.4.3.Norway8.4.4.Russia8.4.5.Rest of Europe
TOC Continued…!!!
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