Market Size of Completion Equipment & Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | < 4.83 % |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Completion Equipment and Services Market Analysis
The total wells completed globallyis expected to increaseat a CAGR of 4.83%, by 2025. The completion equipment & services market recovered in 2017 on account of increase in drilling activity, especially in the US. With shale gas being commercially profitable for the North American region, the exploration & production activities have been increasing at a rapid pace in the region, thus driving the demand for well completion equipment & services. High drilled but uncompleted (DUC) well count in the US is expected to hinder the growth of the market studied.
- Offshore sector is expected to be a potential market in the completion equipment & services market as the cost of operation in the offshore locations declined significantly over the past few years, which has encouraged the industry to step up its expenditure gradually, in the coming years.
- North America dominated the market across the globe with the largest contribution from the countries such as the US and Canada.
