Feb 10 2015
Research and Markets has announced the addition of the "Sand Control Systems Market by Type, Application, & Geography - Global Trends and Forecasts to 2019" report to their offering.
The Global Sand Control Systems market is estimated to reach $2.74 billion by 2019, with a projected CAGR of 9.1%, signifying a high demand for sand control systems and growth in onshore and offshore drilling activities.
Sand Control Systems are used globally for controlling sand production and are employed during the completion process in a well. These are an integral part of the well completion and are useful in the process of drilling and completion because of their nature to improve productivity and efficiency of an oil and gas well. The systems are deployed after studying the well properties such as nature of rocks such as permeability, porosity, and temperature and pressure conditions.
The techniques used for implementation of these systems are gravel and frac pack, sand screens and inflow control devices or a combination of these depending on the well condition. Gravel pack systems are majorly employed in onshore unconsolidated reservoirs while frac pack and screens are used in the offshore wells.
The rise in deep and ultra-deep water discoveries with high growth in exploration and production, activities have led to increased demand for the Sand Control Systems market.. Currently, natural gas is referred to as transitional fuel for being the chain between conventional resources and renewable energy. This proves to be an advantage to the international natural gas market and hence to the market. As the energy demand in developing countries such as China, India and Brazil is on a rise, fulfilling this demand will enhance the growth prospects for the market. In the offshore arena the use of sand control systems is important due to high risks related to environment, equipment and man power for drilling at larger water depths
Increased drilling and completion activities due to global demand and demand for crude oil is a major factor for driving the sand control systems market. According to EIA, globally the crude oil demand has increased from 86,052 thousand barrels of oil in 2008 to 89,774 thousand barrels in 2012. North American region is experiencing the highest drilling and completion activities because of its abundant conventional and unconventional reserves.
Regions such as Brazil in Latin America and Nigeria in West Africa are expected to be one of the revenue generating markets in the coming five years. The regions are experiencing an increase in drilling activities both onshore and offshore with explorations of new natural reserves, increased government support and investments from major players.
Source: http://www.researchandmarkets.com/