PUBLISHER: IMARC | PRODUCT CODE: 1378835
PUBLISHER: IMARC | PRODUCT CODE: 1378835
The global well intervention market size reached US$ 7.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2022-2028.
Well intervention refers to a remedial operation performed on an oil or gas well to alter its state or geometry in order to increase or restore its production. It is generally performed via two methods, including light or heavy intervention. In a light intervention, technicians' lower tools or sensors into a live well to minimize potential well blockages. On the other hand, in a heavy intervention, the rig crew stops production at the formation before making significant equipment changes and removes the wellhead and other pressure barriers from the well to allow full access to the wellbore.
At present, the market is experiencing growth on account of the rising number of mature oil and gas fields, along with the escalating demand for refined petroleum products due to rapid urbanization and industrialization, especially in emerging economies. Apart from this, governments of various countries are implementing taxation schemes to focus on the development of oil and gas reserves, which is also strengthening the growth of the market. Furthermore, increasing investments in technological advancements to improve exploration and production activities is propelling the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global well intervention market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service type, well type and application.
Logging and Bottomhole Survey
Tubing/Packer Failure Repair
Stimulation
Sand Control
Zonal Isolation
Artificial Lift
Fishing
Others
Vertical Well
Horizontal Well
Onshore Applications
Offshore Applications
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aker Solutions, Archer Limited, Baker Hughes Company (General Electric), China Oilfield Services Ltd. (China National Offshore Oil Corporation), Expro Group, Halliburton Company, Schlumberger Limited, Scientific Drilling International Inc., Superior Energy Services Inc., Vallourec and Weatherford International Plc.