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Market Research Report

Global Smart Well Market Research Report Forecast till 2023

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Global Smart Well Market Research Report Forecast till 2023
Published: July 31, 2019 Content info: 128 Pages
Description

Smart well is a non-conventional advanced well with sensors, valves, and inflow control devices installed on the production tubing, which helps evaluate, and actively manage production in real-time without any well intervention. It allows continuous monitoring of fluid flow rates, pressure, and regular adjustments of downhole valves to gather and transmit information to the surface on production or fluid injection profiles. The market growth is driven by the increasing offshore drilling activities, globally. The smart well technology is being adopted due to increased demand from the emerging economies around the world. Moreover, the extended oil drilling activities of Organization of the Petroleum Exporting Countries (OPEC) has provided an opportunity to the national oil companies and independent players to enhance upstream operations.

The global demand for smart well is driven by the increasing deep-water exploration and drilling operations and the rising adoption of IoT in oil & gas industry. Moreover, increasing ultra-deepwater discoveries, across the globe, have provided an opportunity for the market growth. However, growing concerns of data privacy and cybersecurity risks and rising investments in the renewable sector might restrain the growth of smart well market. The oil & gas companies operate in a geopolitically sensitive environment, which has always been vulnerable to cybersecurity risks. As the oil & gas companies are currently deploying IoT aggressively in the energy value chain ranging from exploration to the retail; there has been a growth in the risk of data theft and cyber intrusion. The Industrial Internet of Things (IIoT) in the oil & gas industry involves the use of big data to improve operational efficiencies across the oil & gas value chain. With IIoT, costs can be slashed to some extent, and machines become loaded with sensors and are connected to one network for easy accessibility. In addition to this, renewable energy sources such as solar and wind are the most rapidly growing in terms of technology in the renewable sector, as there are technological advancements related to the improvement of energy efficiency from these sources.

For the purpose of study, the global smart well market has been segmented based on technology, component, and application. On the basis of technology, the market has further been segmented as flow control equipment, monitoring system, and data transmission system. The flow control equipment segment had the largest market size in 2018, mainly owing to its applications in regulating pressure, temperature, flow, and liquid level in the pipe. On the basis of component, the market is segmented as software and hardware. The hardware segment held the larger share of the market in 2018, mainly due to wide range of variables including pressure, temperature, and flow, in the oil well. On the basis of application, the market is segmented as onshore and offshore. The onshore segment held the larger share of the market in 2018, mainly due to the larger number of oilfields located onshore. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

Table of Contents

Table of Contents

1. EXECUTIVE SUMMARY

1.1. Market Attractiveness Analysis

1.1.1. Global Smart Well Market, By Technology

1.1.2. Global Smart Well Market, By Component

1.1.3. Global Smart Well Market, By Application

1.1.4. Global Smart Well Market, By Region

2. MARKET INTRODUCTION

2.1. Market Definition

2.2. Scope of the Study

2.3. Market Structure

3. RESEARCH METHODOLOGY

3.1. Research Process

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

3.5. Forecast Model

3.6. List of Assumptions

3.7. Limitations of the Study

4. MARKET INSIGHTS

5. MARKET DYNAMICS

5.1. Introduction

5.2. Drivers

5.2.1. Increasing Deepwater Exploration and Drilling Operations

5.2.2. Increasing Adoption of IoT in Oil & Gas Industry

5.2.3. Driver Impact Analysis

5.3. Restraints

5.3.1. Growing Concerns of Data Privacy and Cybersecurity Risks

5.3.2. Rising Investment in the Renewable Sector

5.3.3. Restraints Impact Analysis

5.4. Opportunities

5.4.1. Increasing Ultra-Deepwater Discoveries

6. MARKET FACTOR ANALYSIS

6.1. Value Chain Analysis

6.1.1. Raw Material Supply

6.1.2. Manufacturer

6.1.3. Distribution

6.1.4. End-Use

6.2. Porter's Five Forces Analysis

6.2.1. Threat of New Entrants

6.2.2. Bargaining Power of Buyers

6.2.3. Threat of Substitutes

6.2.4. Competitive Rivalry

6.2.5. Bargaining Power of Suppliers

7. GLOBAL SMART WELL MARKET, BY TECHNOLOGY

7.1. Introduction

7.2. Flow Control Equipment

7.2.1. Market Estimates & Forecast, by Region, 2018-2023

7.3. Monitoring System

      • 7.3.1.1. Market Estimates & Forecast, by Region, 2018-2023

7.4. Data Transmission System

      • 7.4.1.1. Market Estimates & Forecast, by Region, 2018-2023

8. GLOBAL SMART WELL MARKET, BY COMPONENT

8.1. Introduction

8.2. Software

8.2.1. Market Estimates & Forecast, by Region, 2018-2023

8.3. Hardware

      • 8.3.1.1. Market Estimates & Forecast, by Region, 2018-2023

9. GLOBAL SMART WELL MARKET, BY APPLICATION

9.1. Introduction

9.2. Onshore

9.2.1. Market Estimates & Forecast, by Region, 2018-2023

9.3. Offshore

9.3.1. Market Estimates & Forecast, by Region, 2018-2023

10. GLOBAL SMART WELL MARKET, BY REGION

10.1. Introduction

10.2. North America

10.2.1. US

10.2.2. Canada

10.2.3. Mexico

10.3. Europe

10.3.1. UK

10.3.2. Russia

10.3.3. Norway

10.3.4. Germany

10.3.5. Rest of Europe

10.4. Asia-Pacific

10.4.1. China

10.4.2. Japan

10.4.3. India

10.4.4. Indonesia

10.4.5. Rest of Asia-Pacific

10.5. Middle East & Africa

10.5.1. Saudi Arabia

10.5.2. UAE

10.5.3. Oman

10.5.4. Egypt

10.5.5. Rest of the Middle East & Africa

10.6. South America

10.6.1. Brazil

10.6.2. Argentina

10.6.3. Rest of South America

11. COMPETITIVE LANDSCAPE

11.1. Competitive Overview

11.2. Competitor Dashboard

11.3. Major Growth Strategy in the Global Smart Well Market

11.4. Competitive Benchmarking

11.5. Market Share Analysis

11.6. XX: The Leading Player in terms of Number of Developments in Global Smart Well Market

11.7. Key Developments & Growth Strategies

11.7.1. New Product Development

11.7.2. Mergers & Acquisitions

11.7.3. Contracts & Agreements

11.7.4. Expansions & Investments

12. COMPANY PROFILES

12.1. Weatherford

12.1.1. Company Overview

12.1.2. Product/Services Offering

12.1.3. Financial Overview

12.1.4. Key Developments

12.1.5. Strategy

12.1.6. SWOT Analysis

12.2. Nabors Industries Ltd.

12.2.1. Company Overview

12.2.2. Product/Services Offering

12.2.3. Financial Overview

12.2.4. Key Developments

12.2.5. Strategy

12.2.6. SWOT Analysis

12.3. Salym Petroleum Development N.V.

12.3.1. Company Overview

12.3.2. Product/Services Offering

12.3.3. Financial Overview

12.3.4. Key Developments

12.3.5. Strategy

12.3.6. SWOT Analysis

12.4. Novomet

12.4.1. Company Overview

12.4.2. Product/Services Offering

12.4.3. Financial Overview

12.4.4. Key Developments

12.4.5. Strategy

12.4.6. SWOT Analysis

12.5. Halliburton

12.5.1. Company Overview

12.5.2. Product/Services Offering

12.5.3. Financial Overview

12.5.4. Key Developments

12.5.5. Strategy

12.5.6. SWOT Analysis

12.6. Schlumberger Limited

12.6.1. Company Overview

12.6.2. Product/Services Offering

12.6.3. Financial Overview

12.6.4. Key Developments

12.6.5. Strategy

12.7. L&T Technology Services Limited

12.7.1. Company Overview

12.7.2. Product/Services Offering

12.7.3. Financial Overview

12.7.4. Key Developments

12.7.5. Strategy

12.8. Intech Process Automation Inc

12.8.1. Company Overview

12.8.2. Product/Services Offering

12.8.3. Financial Overview

12.8.4. Key Developments

12.8.5. Strategy

12.9. Rockwell Automation Inc

12.9.1. Company Overview

12.9.2. Product/Services Offering

12.9.3. Financial Overview

12.9.4. Key Developments

12.9.5. Strategy

12.10. Emerson Electric Co

12.10.1. Company Overview

12.10.2. Product/Services Offering

12.10.3. Financial Overview

12.10.4. Key Developments

12.10.5. Strategy

12.11. ABB

12.11.1. Company Overview

12.11.2. Product/Services Offering

12.11.3. Financial Overview

12.11.4. Key Developments

12.11.5. Strategy

12.12. Baker Hughes, A GE Company

12.12.1. Company Overview

12.12.2. Product/Services Offering

12.12.3. Financial Overview

12.12.4. Key Developments

12.12.5. Strategy

13. APPENDIX

13.1. References

13.2. List of Abbreviation

List of Tables

  • TABLE 1 LIST OF ASSUMPTIONS
  • TABLE 2
  • TABLE 1: SHALE GAS PRODUCTION BY COUNTRY, 2015
  • TABLE 3 TECHNOLOGY MARKET ESTIMATES & FORECAST, BY REGION, 2018-2023 (USD MILLION)
  • TABLE 4 APPLICATION MARKET ESTIMATES & FORECAST, BY REGION, 2018-2023 (USD MILLION)
  • TABLE 5 GLOBAL SMART WELL MARKET, BY REGION, 2016-2023 (USD MILLION)
  • TABLE 6 NORTH AMERICA: SMART WELL MARKET, BY COUNTRY, 2016-2023 (USD MILLION)
  • TABLE 7 NORTH AMERICA: SMART WELL MARKET, BY TECHNOLOGY, 2016-2023 (USD MILLION)
  • TABLE 8 NORTH AMERICA: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 9 US: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 10 CANADA: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 11 MEXICO: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 12 EUROPE: SMART WELL MARKET, BY COUNTRY, 2014-2023 (USD MILLION)
  • TABLE 13 EUROPE: SMART WELL MARKET, BY TECHNOLOGY, 2016-2023 (USD MILLION)
  • TABLE 14 EUROPE: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 15 UK: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 16 RUSSIA: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 17 NORWAY: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 18 REST OF EUROPE: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 19 ASIA-PACIFIC: SMART WELL MARKET, BY COUNTRY, 2014-2023 (USD MILLION)
  • TABLE 20 ASIA-PACIFIC: SMART WELL MARKET, BY TECHNOLOGY, 2016-2023 (USD MILLION)
  • TABLE 21 ASIA-PACIFIC: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 22 CHINA: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 23 INDIA: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 24 INDONESIA: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 25 REST OF ASIA-PACIFIC: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 26 MIDDLE EAST & AFRICA: SMART WELL MARKET, BY COUNTRY, 2016-2023 (USD MILLION)
  • TABLE 27 MIDDLE EAST & AFRICA: SMART WELL MARKET, BY TECHNOLOGY, 2016-2023 (USD MILLION)
  • TABLE 28 MIDDLE EAST & AFRICA: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 29 SAUDI ARABIA: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 30 UAE: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 31 ALGERIA: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 32 REST OF MIDDLE EAST & AFRICA: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 33 SOUTH AMERICA: SMART WELL MARKET, BY COUNTRY, 2016-2023 (USD MILLION)
  • TABLE 34 SOUTH AMERICA: SMART WELL MARKET, BY TECHNOLOGY, 2016-2023 (USD MILLION)
  • TABLE 35 SOUTH AMERICA: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 36 BRAZIL: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 37 ARGENTINA: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 38 REST OF SOUTH AMERICA: SMART WELL MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
  • TABLE 39 HALLIBURTON: THE MOST ACTIVE PLAYER IN THE GLOBAL SMART WELL MARKET
  • TABLE 40 HALLIBURTON: PRODUCT OFFERING
  • TABLE 41 HALLIBURTON: KEY DEVELOPMENTS
  • TABLE 42 WEATHERFORD: PRODUCT OFFERING
  • TABLE 43 WEATHERFORD: KEY DEVELOPMENTS
  • TABLE 44 BAKER HUGHES, A GE COMPANY LLC: PRODUCT OFFERING
  • TABLE 45 BAKER HUGHES, A GE COMPANY LLC: KEY DEVELOPMENTS
  • TABLE 46 NABORS INDUSTRIES LTD: PRODUCT OFFERING
  • TABLE 47 NABORS INDUSTRIES LTD: KEY DEVELOPMENTS
  • TABLE 48 SALYM PETROLEUM DEVELOPMENT N.V.: PRODUCT OFFERING
  • TABLE 49 NOVOMET: PRODUCT OFFERING
  • TABLE 50 SCHLUMBERGER LIMITED: PRODUCT OFFERING
  • TABLE 51 L&T TECHNOLOGY SERVICES LIMITED: PRODUCT OFFERING
  • TABLE 52 INTECH PROCESS AUTOMATION: PRODUCT OFFERING
  • TABLE 53 ROCKWELL AUTOMATION: PRODUCT OFFERING
  • TABLE 54 ROCKWELL AUTOMATION: KEY DEVELOPMENTS
  • TABLE 55 EMERSON ELECTRIC CO.: PRODUCT OFFERING

List of Figures

  • FIGURE 1 MARKET SYNOPSIS
  • FIGURE 2 MARKET ATTRACTIVENESS ANALYSIS: GLOBAL SMART WELL MARKET
  • FIGURE 3 GLOBAL SMART WELL MARKET ANALYSIS BY TECHNOLOGY
  • FIGURE 4 GLOBAL SMART WELL MARKET ANALYSIS BY COMPONENT
  • FIGURE 5 GLOBAL SMART WELL MARKET ANALYSIS BY APPLICATION
  • FIGURE 6 GLOBAL SMART WELL MARKET ANALYSIS BY REGION
  • FIGURE 7 GLOBAL SMART WELL MARKET: MARKET STRUCTURE
  • FIGURE 8 KEY BUYING CRITERIA OF SMART WELL
  • FIGURE 9 RESEARCH PROCESS OF MRFR
  • FIGURE 10 TOP DOWN & BOTTOM UP APPROACH
  • FIGURE 11 NORTH AMERICA MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023)
  • FIGURE 12 EUROPE MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023)
  • FIGURE 13 ASIA-PACIFIC & MARKET SHARE BY COUNTRY (2017 VS 2023)
  • FIGURE 14 MIDDLE EAST & AFRICA MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023)
  • FIGURE 15 SOUTH AMERICA MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023)
  • FIGURE 16 DROC ANALYSIS OF GLOBAL SMART WELL MARKET
  • FIGURE 17 DRIVERS IMPACT ANALYSIS: SMART WELL MARKET
  • FIGURE 18 RESTRAINTS IMPACT ANALYSIS: SMART WELL MARKET
  • FIGURE 19 PORTER'S FIVE FORCES ANALYSIS OF THE GLOBAL SMART WELL MARKET
  • FIGURE 20 VALUE CHAIN: GLOBAL SMART WELL MARKET
  • FIGURE 21 GLOBAL SMART WELL MARKET, BY TECHNOLOGY, 2017 (% SHARE)
  • FIGURE 22 GLOBAL SMART WELL MARKET, BY TECHNOLOGY, 2016 TO 2023 (USD MILLION)
  • FIGURE 23 GLOBAL SMART WELL MARKET, BY COMPONENT, 2017 (% SHARE)
  • FIGURE 24 GLOBAL SMART WELL MARKET, BY COMPONENT, 2016 TO 2023 (USD MILLION)
  • FIGURE 25 GLOBAL SMART WELL MARKET, BY APPLICATION, 2017 (% SHARE)
  • FIGURE 26 GLOBAL SMART WELL MARKET, BY APPLICATION, 2016 TO 2023 (USD MILLION)
  • FIGURE 27 GLOBAL SMART WELL MARKET, BY REGION, 2016 TO 2023 (USD MILLION)
  • FIGURE 28 NORTH AMERICA: SMART WELL MARKET SHARE, BY COUNTRY, 2017 (% SHARE)
  • FIGURE 29 EUROPE: SMART WELL MARKET SHARE, BY COUNTRY, 2017 (% SHARE)
  • FIGURE 30 ASIA-PACIFIC: SMART WELL MARKET SHARE, BY COUNTRY, 2017 (% SHARE)
  • FIGURE 31 MIDDLE EAST & AFRICA: SMART WELL MARKET SHARE, BY COUNTRY, 2017 (% SHARE)
  • FIGURE 32 SOUTH AMERICA: SMART WELL MARKET SHARE, BY COUNTRY, 2017 (% SHARE)
  • FIGURE 33 COMPETITOR DASHBOARD: GLOBAL SMART WELL MARKET
  • FIGURE 34 PRODUCT DEVELOPMENT: THE MAJOR STRATEGY ADOPTED BY KEY PLAYERS IN GLOBAL SMART WELL MARKET
  • FIGURE 35 BENCHMARKING OF MAJOR COMPETITORS
  • FIGURE 36 MAJOR MANUFACTURER MARKET SHARE ANALYSIS, 2017
  • FIGURE 37 SCHLUMBERGER LIMITED: FINANCIAL OVERVIEW SNAPSHOT
  • FIGURE 38 SCHLUMBERGER LIMITED: SWOT ANALYSIS
  • FIGURE 39 WEATHERFORD: TOTAL REVENUE VS RESEARCH & DEVELOPMENT AND GEOGRAPHICAL REVENUE (2015-2018)
  • FIGURE 40 WEATHERFORD: SWOT ANALYSIS
  • FIGURE 41 NABORS INDUSTRIES LTD.: TOTAL REVENUE VS RESEARCH & DEVELOPMENT AND GEOGRAPHICAL REVENUE (2015-2018)
  • FIGURE 42 NABORS INDUSTRIES LTD.: SWOT ANALYSIS
  • FIGURE 43 HALLIBURTON: TOTAL REVENUE VS RESEARCH & DEVELOPMENT AND GEOGRAPHIC REVENUE (2015-2018)
  • FIGURE 44 HALLIBURTON: SWOT ANALYSIS
  • FIGURE 45 SCHLUMBERGER LIMITED: TOTAL REVENUE VS RESEARCH & DEVELOPMENT AND GEOGRAPHIC REVENUE (2015-2018)
  • FIGURE 46 SCHLUMBERGER LIMITED: SWOT ANALYSIS
  • FIGURE 47 L&T TECHNOLOGY SERVICES LIMITED: TOTAL REVENUE VS RESEARCH & DEVELOPMENT AND GEOGRAPHIC REVENUE (2015-2018)
  • FIGURE 48 L&T TECHNOLOGY SERVICES LIMITED: SWOT ANALYSIS
  • FIGURE 49 INTECH PROCESS AUTOMATION INC.: SWOT ANALYSIS
  • FIGURE 50 ROCKWELL AUTOMATION: TOTAL REVENUE VS RESEARCH & DEVELOPMENT AND GEOGRAPHIC REVENUE (2015-2018)
  • FIGURE 51 ROCKWELL AUTOMATION: SWOT ANALYSIS
  • FIGURE 52 EMERSON ELECTRIC CO.: TOTAL REVENUE VS RESEARCH & DEVELOPMENT AND GEOGRAPHIC REVENUE (2015-2018)
  • FIGURE 53 EMERSON ELECTRIC CO.: SWOT ANALYSIS
  • FIGURE 54 ABB: TOTAL REVENUE VS RESEARCH & DEVELOPMENT AND GEOGRAPHIC REVENUE (2015-2018)
  • FIGURE 55 ABB: SWOT ANALYSIS
  • FIGURE 56 BAKER HUGHES, A GE COMPANY: TOTAL REVENUE VS RESEARCH & DEVELOPMENT AND GEOGRAPHIC REVENUE (2016-2018)
  • FIGURE 57 BAKER HUGHES, A GE COMPANY: SWOT ANALYSIS
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