Market Size of North America Completion Equipment And Services Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 2.00 % |
| 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?
North America Completion Equipment And Services Market Analysis
The North American completion equipment and services market is expected to register a CAGR of more than 2% over the period. The market was negatively impacted due to the outbreak of COVID-19 due to regional lockdowns and the crude oil price crash, leading to delays in ongoing and upcoming projects. Currently, the market has reached pre-pandemic levels.
- Factors such as increasing production from conventional and unconventional resources and reducing the maintenance costs of the well are expected to drive the market.
- However, volatility in crude oil and natural gas prices may restrain the growth of the market.
- New developments in intelligent well completion technology, like the advancements in high-end self-adaptive inflow control completion technology, are expected to make oil and gas production more viable and may provide an opportunity for market players.
- The United States is expected to be the largest user of the completion equipment and services market in the forecast period due to its abundant production of crude oil and natural gas.
