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(IT-NEWSWIRE.COM, October 16, 2019 ) Sand control systems evolved as an integral part of oil & gas industry owing to the ability of these technologies to control sand production into the wellbore. Production of sand in oil and gas production bores damage the piping, separators and other surface facilities. Further sand production causes issues such as production impairment and erosion. The adoption of effective sand control systems provides wellbore support and maximize the hole diameter, thus enabling high inflow area and maximum production efficiency from the well. Growing production of off-shore crude oil and growing open completions are the major factors driving the global sand control systems market.
Growing production of crude oil across the globe
Growing production of crude oil across the globe and increase in installations of new on-shore crude oil mines are the factors driving the global sand control systems market. Escalating rig costs, deeper explorations of on-shore wells, and complex reservoir characteristics are the factors led to increase in adoption of sand control systems in the well design and production. Increasing demand for crude oil associated increase in installations of new production sites with advanced technology with high precision are the factors additionally contributing the growth of the global sand control systems market. According to the International Energy association in 2019, the daily production of offshore oil is expected to increase from 26.4 thousand barrels of Oil equivalent per day to 27.4 thousand barrels of Oil equivalent per day is expected to generate equal market growth and demand for sand control systems during the forecast period. New crude oil and natural gas discoveries and high potential reserves create opportunities for companies operating in the sand control systems market.
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On-shore oil and gas exploration is leading the market growth
The On-Shore segment of sand control systems market is valued at USD 2140.5 Million in 2018 and is estimated to grow at a CAGR of 4.2 % over the forecast period to reach a USD 2963.4 Million by 2026. There are two main types of onshore drilling. Percussion, or ‘cable tool’ drilling, consists of raising and dropping a heavy metal bit into the ground, effectively punching a hole down through the earth. Cable tool drilling is usually used for shallow, low pressure formations. The second drilling method is known as rotary drilling, and consists of a sharp, rotating metal bit used to drill through the Earth’s crust. This type of drilling is used primarily for deeper wells, which may be under high pressure. Most onshore formations are hardened, older sands when compared with offshore formations. For onshore wells it has been the combination of hydraulic fracturing and horizontal drilling that has made production from shale and tight sand formations economically viable. The sand used for a gravel pack, Frac Pack or onshore hydraulic fracturing is essentially identical, usually natural silica quartz although treated sand or other man-made materials can be used in specialized situations. Onshore projects will comprise over 85% of the USD 102.6 billion of upstream capex by 2020.
North America is expected to grow at a higher pace during the forecast period.
North America is the largest market for sand control systems with well-established oil & gas industry and increasing exploration activities. The North America sand control systems market valued at USD 958 billion in 2018 and is estimated to grow at a CAGR of 4.6% over the forecast period.
United States is expected to dominate the North America sand control systems market owing increase in production of off-shore oil fields and high presence of well-established economy. According to the Report published in Energy Information Association in 2018, the off-shore oil production in Gulf of Mexico increased from 1600 thousand barrels per day in 2016 to 1650 barrels per day in 2017. Canada is expected to grow at a 3.7% CAGR owing to Growing drilling activities across the country, increased FDI in oil and gas industry and increased adoption of advanced technologies by the contractors for the retrieval of high quality crude oil are the major factors driving the Canada sand control systems market.
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Competitor Landscape
The global sand control systems market is moderately consolidated with international players. The companies are competing based on the price, product specifications, technologies and market presence. The global sand control systems market share is characterized by competition based on prices and service provided to clients. Major companies include Schlumberger, Halliburton, Baker Hughes, Weatherford International and Tendaka. The major focus of these companies is to achieve lower prices and to develop products with latest technologies with niche application and their investments are driven in the same direction.
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Source: EmailWire.Com 
Source: EmailWire.com
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