Well Cementing Services Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Location of Deployment (Onshore, and Offshore), Type (Primary, Remedial, and Other Types), and Geography

Market Snapshot

Well Cementing Services Market Summary
Study Period:

2017-2024

Base Year:

2018

Largest Market:

North America

Key Players:

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Market Overview

The year 2018 turned out to be better than expected year for oilfield service providers, as the industry witnessed an increase in the activity marked by the increase in onshore active rig count. OPEC’s and Russia’s production cut agreement helped reduce inventory and increase the crude oil price. In the period of downturn, the industry adapted lower price scenario and was focused on reducing its operation cost through several measures, such as using high-grade equipment, smart solutions, and big data analytics. The aforementioned steps have resulted in improving the operational efficiency in the industry, in turn, reducing the breakeven price, which has been the major driver in the industry in recent years. In 2018, the crude oil price was well above USD 70 per dollar, and even touched USD 85 per barrels. Owing to the rise in crude oil price, the industry seems more optimistic than in recent times. Oil and gas companies are planning to invest in the projects that were put on hold due to the high cost of development. The rise in oil prices coupled with lower breakeven prices has been one of the biggest drivers in the well-cementing services market during 2018.

  • The market recovery has been witnessed in the onshore segment, mainly due to low capital and operational expenditure requirement, and a smaller payback period.
  • North America is the dominant market for well cementing services and expected to remain the leader in the market during the forecast period.

Scope of the Report

The well cementing services market report include:

Location of Deployment
Onshore
Offshore
Type
Primary
Remedial
Other Types
Geography
North America
Asia-Pacific
Europe
South America
Middle East & Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Onshore Market Registered a Higher Growth

  • The onshore oil and gas exploration and development activity requires lower capital and operational expenditure requirement and has a smaller payback period compared to offshore operations.
  • Also, though the oil prices have recovered, in recent times, i.e., since September of 2018, the oil prices have registered a volatile trend.
  • Due to the aforementioned reasons, the well cementing services market for onshore segment have a registered significantly higher growth than the offshore segment.
Well Cementing Services Market Segmentation

To understand key trends, Download Sample Report

North America to lead the Market

  • North America, which accounted for more than 50% of active rig count in 2018, is expected to continue to lead the market during the forecast period.
  • The major demand for well cementing services in the onshore segment in 2018 came from North America (led by the United States). In offshore, countries, such as Brazil, Norway, the United Kingdom, and Nigeria, are expected to be the major contributor in demand during the forecast period.
Well Cementing Services Market Regional

To understand geography trends, Download Sample Report

Competitive Landscape

The global well cementing services market is moderately consolidated. Some of the major companies include Schlumberger Ltd, Halliburton Company, C&J Services Inc., Trican Well Services and Baker Hughes a GE company. 

Major Players

  1. Schlumberger Ltd
  2. Halliburton Company
  3. C&J Services
  4. Trican Well Services
  5. Baker Hughes a GE company

* Complete list of players covered available in the table of contents below

Well Cementing Services Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

    4. 1.4 Study Deliverables

    5. 1.5 Research Phases

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion till 2024

    3. 4.3 Global Onshore and Offshore Active Rig Count Forecast, till 2024

    4. 4.4 Global Total Completed Wells Forecast, till 2024

    5. 4.5 Number of Floater Rigs and Contracted Rig Years, 2007-2017

    6. 4.6 Number of Hi-Spec Jackups and Contracted Rig Years, 2007-2017

    7. 4.7 Share of Under-contract, Future Contract, and Idle/Stacked for Floater Rigs, 2017

    8. 4.8 Share of Under-contract, Future Contract, and Idle/Stacked for Jackup Rigs, 2017

    9. 4.9 Historical Average Utilization Rate of Offshore Drilling Rigs, 2007-2017

    10. 4.10 Onshore and Offshore CAPEX Forecast in USD billion, till 2024

    11. 4.11 Offshore CAPEX Forecast in USD billion, by Region, till 2024

    12. 4.12 Offshore CAPEX Forecast in USD billion, by Water Depth, till 2024

    13. 4.13 Historic and Production Forecast of Deepwater, Oil Sands and Crude from Deepwater in kb/d

    14. 4.14 Key Upstream Projects

    15. 4.15 Recent Trends and Developments

    16. 4.16 Market Dynamics

      1. 4.16.1 Drivers

      2. 4.16.2 Restraints

    17. 4.17 Supply Chain Analysis

    18. 4.18 Porter's Five Forces Analysis

      1. 4.18.1 Bargaining Power of Suppliers

      2. 4.18.2 Bargaining Power of Consumers

      3. 4.18.3 Threat of New Entrants

      4. 4.18.4 Threat of Substitutes Products and Services

      5. 4.18.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Location of Deployment

      1. 5.1.1 Onshore

      2. 5.1.2 Offshore

    2. 5.2 Type

      1. 5.2.1 Primary

      2. 5.2.2 Remedial

      3. 5.2.3 Other Types

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Asia-Pacific

      3. 5.3.3 Europe

      4. 5.3.4 South America

      5. 5.3.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Advanced Cementing Services Inc.�

      2. 6.3.2 Baker Hughes A GE Co.��������

      3. 6.3.3 BJ Services Company

      4. 6.3.4 Calfrac Well Services Ltd�������

      5. 6.3.5 China Oilfield Services Limited������������

      6. 6.3.6 Viking Services

      7. 6.3.7 Halliburton Company

      8. 6.3.8 Schlumberger Limited

      9. 6.3.9 Superior Oilfield Services Inc.������������

      10. 6.3.10 Trican Well Services Corporation ����

      11. 6.3.11 Weatherford International PLC

      12. 6.3.12 C&J Services Inc.

      13. 6.3.13 Key Energy Services

      14. 6.3.14 Sanjel Energy Services

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please Enter a Valid Message!


Complete your payment details below

Shipping & Billing Information

Payment Information