The global sand control systems market wasvalued at US$ 2,945.9 Mn in 2018 and is anticipated to expand at a CAGR of4.03% from 2019 to 2027, according to a new report titled ‘Sand Control SystemsMarket: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast,2019–2027,’ published by Transparency Market Research (TMR) The global sandcontrol systems market is driven by high demand for sand control in offshore anddeep water applications. Offshore reserves are highly prone to sandcontamination, and remediation is expensive. Advancement in techniques hasenabled the use of sand control systems to counter deep-waterchallenges.
Rise in Need to Enhance Oil ProductionEfficiency Expected to Drive Market
Of late, there has been rising focus on improving oil productionefficiency. In unconsolidated rock formations, sand production is one of thebiggest challenges faced by well operators. Sand control is essential in thesecases in order to maintain continuity in production and prevent the equipmentfrom damage. Sand control is difficult to achieve in offshore applications.Development of advanced techniques is anticipated to fuel the global sandcontrol systems market during the forecast period.
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High Cost of Sand Control in Offshore Applicationsto Act as Restraint
Sand control is difficult to achieve. It is a high cost operation.Implementation of sand control systems is an important and critical economicdecision. Difficulty in maintaining economic viability during theimplementation of sand control systems is expected to restrain the market. Itis particularly difficult in offshore applications where the economic costs arehigh. However, sand control is sometimes essential to realize the benefits ofdrilling operations.
Gravel Packing Segment to Dominate Global SandControl Systems Market
Based on technique the global sand control systems market has beensegmented into gravel packing, standalone screens, resin coated gravel, plasticconsolidation and others (including rate exclusion and high energy resinplacement) Gravel packing was estimated to be the dominant segment of theglobal sand control systems market in 2018. The segment is estimated tomaintain its dominant share during the forecast period. Standalone screen isanother commonly employed technique for sand control. Other methods such asresin coated gravel and plastic consolidation constitute smaller share of theglobal sand control systems market.
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Offshore Application Segment to Expand Rapidly
Based on application, the global sand control systems market has beenbifurcated into onshore and offshore. The onshore segment constituted dominantshare of the global sand control systems market in 2018. The segment isprojected to expand at a rapid pace owing to the rise in drilling activitiesduring the forecast period. Expansion in the offshore segment is also projectedto augment the sand control systems market during the forecast period. Offshoredrilling and exploration activities are rising globally. Furthermore, risksinvolved in offshore drilling are more as compared to those in onshoredrilling.
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Cased Hole Likely to be Dominant Well CompletionSegment
In terms of well completion, the global sand control systems market hasbeen classified into open hole and cased hole. Cased hole was expected to bethe dominant segment of the global sand control systems market in 2018. Theopen hole segment constituted smaller share of the sand control systems market.However, the segment is projected to expand at a rapid pace during the forecastperiod owing to the increase in usage of open hole well completion in offshoreand deep-water explorations.
Asia Pacific Leads Global Sand Control SystemsMarket
Based on region, the global sand control systems market has been splitinto North America, Europe, Asia Pacific, Middle East & Africa, and LatinAmerica. Middle East & Africa dominated the global sand control systemsmarket in 2018. The region has a vast market for sand control systemsconsidering the large-scale production of natural gas and crude oil. The regionconsists of countries such as Libya, Iran, Iraq, and Kuwait. These countriespossess some of the largest proven resources of petroleum in the world. Interms of growth rate, Asia Pacific is anticipated to be the leading region ofthe global sand control systems market in the near future. The market in LatinAmerica is also projected to expand at a rapid pace; however, political andeconomic instability are some of the factors likely to restrain the sandcontrol systems market in the region during the forecast period.
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High Degree of Consolidation among Market Players
The global sand control systems market is oligopolistic. It is dominatedby large-sized players specializing in sand control and other oil-field relatedservices. Key players such as Schlumberger Limited, Baker Hughes, Inc.,Halliburton Company, and Weatherford International Limited dominate the sandcontrol systems market. These companies possess high technical expertise. Otherplayers operating in the sand control systems market include Grit Industries,Inc., RPC, Inc., Superior Energy Services, Inc., Variperm Limited, and WelltecA/S.
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