Global Smart Well Market Research Report Forecast till 2027

A Smart well is a non-regular high-level well with sensors, valves, and inflow control gadgets introduced on the creation tubing, which assesses, and effectively oversees creation progressively with next to no good intercession. It permits ceaseless checking of liquid stream rates, strain, and standard changes of downhole valves to assemble and communicate data to the surface on the creation of liquid infusion profiles. The market development is driven by the rising seaward boring exercises, around the world. The smart well innovation is being taken on because of expanded requests from the arising economies all over the planet. Additionally, the lengthy oil penetrating exercises of the Organization of the Petroleum Exporting Countries (OPEC) has given an open door to the public oil organizations and free players to improve upstream activities.

The worldwide interest in smart wells is driven by the rising profound water investigation and boring activities and the rising reception of IoT in the oil and gas industry. In addition, expanding ultra-deepwater revelations, across the globe, have given an open door to market development. Nonetheless, developing worries about information protection and network safety dangers and rising interests in the sustainable area could limit the development of the smart well market. The oil and gas organizations work in a geopolitically delicate climate, which has forever been defenseless against network safety gambles. As the oil and gas organizations are presently sending IoT forcefully in the energy esteem bind going from investigation to retail; there has been a development in the gamble of information robbery and digital interruption. The Industrial Internet of Things (IIoT) in the oil and gas industry includes the utilization of enormous information to work on functional efficiencies across the oil and gas esteem chain. With IIoT, expenses can be cut somewhat, and machines become stacked with sensors and are associated with one organization for simple availability. Likewise, sustainable power sources, for example, sunlight-based and wind are the most quickly filling with regards to innovation in the sustainable area, as there are mechanical headways connected with the improvement of energy proficiency from these sources.

Market Segmentation

With the end goal of study, the worldwide smart well market has been sectioned in view of innovation, part, and application. Based on innovation, the market has additionally been portioned as stream control hardware, observing framework, and information transmission framework. The stream control hardware portion had the biggest market, primarily attributable to its applications in managing pressure, temperature, stream, and fluid level in the line. Based on the part, the market is divided into programming and equipment. The equipment fragment held the bigger portion of the market, mostly because of the extensive variety of factors including tension, temperature, and stream, in the oil well. Based on application, the market is portioned as inland and seaward.

Regional Analysis

The coastal portion held the bigger portion of the market in 2018, chiefly because of the bigger number of oilfields found coastal. Based on locale, the market is sectioned into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.

Major Players

Halliburton (US), Weatherford (US), Schlumberger Limited (US), Salym Petroleum Development, N.V. (Netherlands), Nabors Industries Ltd (Bermuda), INTECH Process Automation (US), Novomet (Russia), Rockwell Automation Inc (US), L&T Technology Services Limited (India), Baker Hughes (US), Emerson Electric Co (US), ABB (Switzerland), and GE company (BHGE) (US).

Product Code: MRFR/E&P/1954-CR

1 EXECUTIVE SUMMARY

2 MARKET INTRODUCTION

2.1 DEFINITION 17
2.2 SCOPE OF THE STUDY 17
2.3 MARKET STRUCTURE 18

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS 20
3.2 PRIMARY RESEARCH 21
3.3 SECONDARY RESEARCH 22
3.4 MARKET SIZE ESTIMATION 22
3.5 FORECAST MODEL 23
3.6 LIST OF ASSUMPTIONS 24

4 MARKET DYNAMICS

4.1 OVERVIEW 26
4.2 DRIVERS 26
- 4.2.1 INCREASING DEEPWATER EXPLORATION AND DRILLING OPERATIONS 26
- 4.2.2 INCREASING ADOPTION OF IOT IN OIL & GAS INDUSTRY 27
4.3 RESTRAINT 29
- 4.3.1 GROWING CONCERNS OF DATA PRIVACY AND CYBERSECURITY RISKS 29
- 4.3.2 RISING INVESTMENT IN THE RENEWABLE SECTOR 29
4.4 OPPORTUNITIES 30
- 4.4.1 INCREASING ULTRA-DEEPWATER DISCOVERIES 30
4.5 PORTER'S FIVE FORCES MODEL 31
- 4.5.1 THREAT OF NEW ENTRANTS 31
- 4.5.2 BARGAINING POWER OF SUPPLIERS 31
- 4.5.3 THREAT OF SUBSTITUTES 31
- 4.5.4 BARGAINING POWER OF BUYERS 31
- 4.5.5 RIVALRY 32
4.6 VALUE CHAIN ANALYSIS 32
- 4.6.1 RESEARCH AND DEVELOPMENT 32
- 4.6.2 WELL PLANNING 32
- 4.6.3 PRODUCT INSTALLATION 33
- 4.6.4 END-USE 33

5 GLOBAL SMART WELL MARKET, BY TECHNOLOGY

5.1 OVERVIEW 35
5.2 FLOW CONTROL EQUIPMENT 35
5.3 MONITORING SYSTEM 35
5.4 DATA TRANSMISSION SYSTEM 36

6 GLOBAL SMART WELL MARKET, BY COMPONENT

6.1 OVERVIEW 38
6.2 SOFTWARE 38
6.3 HARDWARE 38

7 GLOBAL SMART WELL MARKET, BY APPLICATION

7.1 OVERVIEW 41
7.2 ONSHORE 41
7.3 OFFSHORE 41

8 GLOBAL SMART WELL MARKET, BY REGION

8.1 INTRODUCTION 44
8.2 NORTH AMERICA 45
- 8.2.1 US 47
- 8.2.2 CANADA 48
- 8.2.3 MEXICO 50
8.3 ASIA-PACIFIC 52
- 8.3.1 CHINA 54
- 8.3.2 JAPAN 55
- 8.3.3 INDIA 57
- 8.3.4 INDONESIA 58
- 8.3.5 REST OF ASIA-PACIFIC 60
8.4 EUROPE 62
- 8.4.1 UK 64
- 8.4.2 RUSSIA 65
- 8.4.3 NORWAY 67
- 8.4.4 GERMANY 68
- 8.4.5 REST OF EUROPE 70
8.5 MIDDLE EAST & AFRICA 72
- 8.5.1 SAUDI ARABIA 74
- 8.5.2 UAE 75
- 8.5.3 OMAN 77
- 8.5.4 EGYPT 78
- 8.5.5 REST OF MIDDLE EAST & AFRICA 80
8.6 SOUTH AMERICA 82
- 8.6.1 BRAZIL 84
- 8.6.2 ARGENTINA 85
- 8.6.3 REST OF SOUTH AMERICA 86

9 COMPETITIVE LANDSCAPE

9.1 COMPETITIVE SCENARIO 89
9.2 MARKET SHARE ANALYSIS, 2020 (%) 89
9.3 BHGE AND EMERSON ELECTRIC : LEADING PLAYERS (IN TERMS OF NUMBER OF DEVELOPMENTS IN THE MARKET) 90
9.4 NEW PRODUCT DEVELOPMENT 90
9.5 PARTNERSHIPS & COLLABORATIONS 91

10 COMPANY PROFILE

10.1 WEATHERFORD 93
- 10.1.1 COMPANY OVERVIEW 93
- 10.1.2 FINANCIAL OVERVIEW 93
- 10.1.3 PRODUCTS/SERVICES OFFERED 94
- 10.1.4 KEY DEVELOPMENTS 94
- 10.1.5 SWOT ANALYSIS 95
- 10.1.6 KEY STRATEGIES 95
10.2 NABORS INDUSTRIES LTD. 96
- 10.2.1 COMPANY OVERVIEW 96
- 10.2.2 FINANCIAL OVERVIEW 96
- 10.2.3 PRODUCTS/SERVICES OFFERED 97
- 10.2.4 KEY DEVELOPMENTS 99
- 10.2.5 SWOT ANALYSIS 99
- 10.2.6 KEY STRATEGIES 99
10.3 SALYM PETROLEUM DEVELOPMENT N.V 100
- 10.3.1 COMPANY OVERVIEW 100
- 10.3.2 FINANCIAL OVERVIEW 100
- 10.3.3 PRODUCT/SERVICE OFFERED 100
- 10.3.4 KEY DEVELOPMENTS 101
- 10.3.5 SWOT ANALYSIS 101
- 10.3.6 KEY STRATEGIES 101
10.4 NOVOMET 102
- 10.4.1 COMPANY OVERVIEW 102
- 10.4.2 FINANCIAL OVERVIEW 102
- 10.4.3 PRODUCT/SERVICES OFFERED 102
- 10.4.4 KEY DEVELOPMENTS 103
- 10.4.5 SWOT ANALYSIS 103
- 10.4.6 KEY STRATEGIES 103
10.5 HALLIBURTON 104
- 10.5.1 COMPANY OVERVIEW 104
- 10.5.2 FINANCIAL OVERVIEW 104
- 10.5.3 PRODUCT/SERVICES OFFERED 105
- 10.5.4 KEY DEVELOPMENTS 105
- 10.5.5 SWOT ANALYSIS 105
- 10.5.6 KEY STRATEGIES 105
10.6 SCHLUMBERGER LIMITED 106
- 10.6.1 COMPANY OVERVIEW 106
- 10.6.2 FINANCIAL OVERVIEW 106
- 10.6.3 PRODUCTS/SERVICES OFFERED 107
- 10.6.4 KEY DEVELOPMENTS 108
- 10.6.5 SWOT ANALYSIS 109
- 10.6.6 KEY STRATEGIES 109
10.7 L&T TECHNOLOGY SERVICES LIMITED 110
- 10.7.1 COMPANY OVERVIEW 110
- 10.7.2 FINANCIAL OVERVIEW 110
- 10.7.3 PRODUCT/SERVICES OFFERED 111
- 10.7.4 KEY DEVELOPMENTS 111
- 10.7.5 SWOT ANALYSIS 112
- 10.7.6 KEY STRATEGIES 112
10.8 INTECH PROCESS AUTOMATION INC 113
- 10.8.1 COMPANY OVERVIEW 113
- 10.8.2 FINANCIAL OVERVIEW 113
- 10.8.3 PRODUCT/SERVICES OFFERED 113
- 10.8.4 KEY DEVELOPMENTS 114
- 10.8.5 SWOT ANALYSIS 114
- 10.8.6 KEY STRATEGIES 115
10.9 ROCKWELL AUTOMATION INC 116
- 10.9.1 COMPANY OVERVIEW 116
- 10.9.2 FINANCIAL OVERVIEW 116
- 10.9.3 PRODUCT/SERVICES OFFERED 117
- 10.9.4 KEY DEVELOPMENTS 118
- 10.9.5 SWOT ANALYSIS 118
- 10.9.6 KEY STRATEGIES 118
10.10 EMERSON ELECTRIC CO. 119
- 10.10.1 COMPANY OVERVIEW 119
- 10.10.2 FINANCIAL OVERVIEW 119
- 10.10.3 PRODUCTS/SERVICES OFFERED 120
- 10.10.4 KEY DEVELOPMENTS 121
- 10.10.5 SWOT ANALYSIS 121
- 10.10.6 KEY STRATEGIES 122
10.11 ABB 123
- 10.11.1 COMPANY OVERVIEW 123
- 10.11.2 FINANCIAL OVERVIEW 123
- 10.11.3 SERVICES OFFERED 124
- 10.11.4 KEY DEVELOPMENTS 125
- 10.11.5 SWOT ANALYSIS 125
- 10.11.6 KEY STRATEGIES 125
10.12 BAKER HUGHES, A GE COMPANY 126
- 10.12.1 COMPANY OVERVIEW 126
- 10.12.2 FINANCIAL OVERVIEW 126
- 10.12.3 SERVICES OFFERED 127
- 10.12.4 KEY DEVELOPMENTS 127
- 10.12.5 SWOT ANALYSIS 128
- 10.12.6 KEY STRATEGIES 128