Well Testing Services Global Market Report 2024

Description

Well Testing Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on well testing services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for well testing services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The well testing services market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Services Type: Downhole Well Testing; Surface Well Testing; Reservoir Sampling; Real Time Well Testing
2) By Product Type: Horizontal Wells; Vertical Wells
3) By Application Type: On-Shore; Off-Shore
Companies Mentioned: Schlumberger Limited; Halliburton Company; Expro International Group; Baker Hughes Company; Weatherford International
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Well-testing services play a crucial role in predicting and analyzing reservoir limits and capacity, aiding in the determination of efficient methods for optimal well production. These services involve the execution of planned data acquisition activities and time measurements to conduct well tests.

The key types of well-testing services include downhole well testing, surface well testing, reservoir sampling, and real-time well testing. Horizontal well testing services involve directional drilling, where a well is drilled at an angle close to 90 degrees to a vertical wellbore. The primary product types are horizontal wells and vertical wells, applicable in both onshore and offshore environments.

The well testing services market research report is one of a series of new reports from The Business Research Company that provides well testing services market statistics, including well testing services industry global market size, regional shares, competitors with a well testing services market share, detailed well testing services market segments, market trends, and opportunities, and any further data you may need to thrive in the well testing services industry. This well testing services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The well testing services market size has grown strongly in recent years. It will grow from $7.78 billion in 2023 to $8.27 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The historic growth in well-testing services is attributed to the increasing global energy demand, heightened exploration and production activities, the need for reservoir management, emphasis on asset integrity management, and the rise in deepwater and ultra-deepwater exploration.

The well testing services market size is expected to see strong growth in the next few years. It will grow to $10.54 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The forecasted growth in well-testing services can be attributed to an increased focus on unconventional resources, geopolitical and economic factors, decommissioning activities, climate change mitigation measures, and enhanced safety measures. Major trends in the forecast period include technological advancements in testing equipment, a rise in unconventional resource development, real-time data monitoring and analysis, and the integration of digitalization and IoT.

The increasing global demand for oil is a key catalyst propelling the expansion of the well-testing services market. Economic growth stands as a pivotal driver amplifying the need for crude oil, especially given the transportation sector's heavy reliance on petroleum products worldwide. According to the International Energy Agency's projections in 2021, the anticipated rise in global oil demand is estimated at 5.4 million barrels per day (mb/d), with a subsequent 3.3 mb/d increase the following year, projecting a return to pre-COVID levels at 99.5 mb/d. Consequently, this surge in worldwide crude oil demand significantly contributes to the positive growth trajectory of well-testing services, fostering market expansion.

The projected escalation in exploration activities is poised to drive the advancement of the well-testing services market. Exploration endeavors entail the systematic quest for fresh reservoirs of natural resources such as oil, gas, minerals, and raw materials. Crucial to oil exploration, well-testing services furnish essential data about wells, including insights into reservoir capacity for hydrocarbon, natural gas, and oil production. As reported by the Australian Bureau of Statistics in June 2023, mineral exploration expenditure surged to $1,039 million in the second quarter, marking a notable 0.8% uptick from the preceding quarter of the same year. This uptrend in exploration undertakings significantly fuels the growth trajectory of the well-testing services market.

Technological advancements are gaining substantial traction within the well-testing services market. Key industry players are channeling their efforts into introducing innovative products to gain a competitive edge. Advancements in well-testing technology enable real-time measurements with enhanced result accuracy, optimizing well productivity. In November 2022, Halliburton Company, a renowned US-based oil field service enterprise, unveiled the FloConnect Surface Automation Platform, a fully automated, scalable solution geared towards enhancing efficiency and safety in surface well testing operations. Leveraging automated workflows, FloConnect technology monitors, quantifies, and evaluates surface well testing in a cutting-edge manner. This advanced platform empowers operators with improved well control, process safety, flow assurance, and emissions quantification, fostering a collaborative work environment. Additionally, it facilitates centralized control or remote access, real-time data monitoring, and access to process metrics.

Prominent entities within the well-testing services sector are actively pursuing strategic partnerships to gain a competitive advantage in the market. Collaborative efforts between companies operating in well testing services have yielded the development of novel technologies, products, and services, enhancing the precision and effectiveness of well testing operations. A case in point occurred in May 2022 when Switzerland-based SGS, a provider of inspection, verification, testing, and certification services, joined forces with Buru Energy, an Australia-based oil and gas exploration and production company. Their collaboration aimed to deliver upstream well testing services in Western Australia, empowering oil and gas operators across the region to tap into substantial hydrocarbon reserves. The combined suite of services offered by these companies encompasses well testing, sampling, analysis, slickline, production support, and well integrity services. These comprehensive end-to-end solutions for contemporary well services projects assure superior service quality, value, and compliance.

In October 2021, EXPRO Group, an energy services provider based in the United States, finalized a merger with Frank's International N.V., the terms of which were undisclosed. This merger positioned EXPRO to hold approximately 65% ownership of Frank's, uniting two established entities to forge a leading service provider boasting a diverse portfolio of capabilities spanning the entire lifecycle. The consolidation of EXPRO's and Frank's resources fortified their market presence and expanded portfolio offerings. Frank's International N.V. stands as a global oil service company renowned for its extensive array of highly engineered drilling and completions solutions and services.

Major companies operating in the well testing services market report are Schlumberger Limited, Halliburton Company, Expro International Group, Baker Hughes Company, Weatherford International, Rockwater Energy Solutions Inc., AGR Group ASA, Oil States International Inc., Tetra Technologies Inc., FMC Technologies Inc., Mineral Technologies Inc., China Oilfield Services Limited, SGS S.A., PW Well Test Ltd., CETCO Energy Services, Edge Drilling, EXALO Drilling SA, Greene's Energy Group, Intertek Group PLC, Kappa Engineering, MB Petroleum Services LLC, Nabors Industries Ltd., Noble Energy Inc., Oilfield Testing & Consulting, Premier Oilfield Laboratories, Reservoir Group, Ryder Scott Company, Absolute Openhole Inc., Alliance Well Services Ltd., Alpha Production Testing Inc.

North America was the largest region in the well testing services market in 2023. South America is expected to be the fastest-growing region in the forecast period. The regions covered in the well testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the well testing services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The well-testing services market includes revenues earned by entities by hydraulic fracturing method testing, well-test interpretation, and pressure-derivative analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r13170

1. Executive Summary

2. Well Testing Services Market Characteristics

3. Well Testing Services Market Trends And Strategies

4. Well Testing Services Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Well Testing Services Market Size and Growth

5.1. Global Well Testing Services Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Well Testing Services Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Well Testing Services Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Well Testing Services Market Segmentation

6.1. Global Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Downhole Well Testing
Surface Well Testing
Reservoir Sampling
Real Time Well Testing
6.2. Global Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Horizontal Wells
Vertical Wells
6.3. Global Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-Shore
Off-Shore

7. Well Testing Services Market Regional And Country Analysis

7.1. Global Well Testing Services Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Well Testing Services Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Well Testing Services Market

8.1. Asia-Pacific Well Testing Services Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Well Testing Services Market

9.1. China Well Testing Services Market Overview
9.2. China Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Well Testing Services Market

10.1. India Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Well Testing Services Market

11.1. Japan Well Testing Services Market Overview
11.2. Japan Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Well Testing Services Market

12.1. Australia Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Well Testing Services Market

13.1. Indonesia Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Well Testing Services Market

14.1. South Korea Well Testing Services Market Overview
14.2. South Korea Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Well Testing Services Market

15.1. Western Europe Well Testing Services Market Overview
15.2. Western Europe Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Well Testing Services Market

16.1. UK Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Well Testing Services Market

17.1. Germany Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Well Testing Services Market

18.1. France Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Well Testing Services Market

19.1. Italy Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Well Testing Services Market

20.1. Spain Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Well Testing Services Market

21.1. Eastern Europe Well Testing Services Market Overview
21.2. Eastern Europe Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Well Testing Services Market

22.1. Russia Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Well Testing Services Market

23.1. North America Well Testing Services Market Overview
23.2. North America Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Well Testing Services Market

24.1. USA Well Testing Services Market Overview
24.2. USA Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Well Testing Services Market

25.1. Canada Well Testing Services Market Overview
25.2. Canada Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Well Testing Services Market

26.1. South America Well Testing Services Market Overview
26.2. South America Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Well Testing Services Market

27.1. Brazil Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Well Testing Services Market

28.1. Middle East Well Testing Services Market Overview
28.2. Middle East Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Well Testing Services Market

29.1. Africa Well Testing Services Market Overview
29.2. Africa Well Testing Services Market, Segmentation By Services Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Well Testing Services Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Well Testing Services Market, Segmentation By Application Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Well Testing Services Market Competitive Landscape And Company Profiles

30.1. Well Testing Services Market Competitive Landscape
30.2. Well Testing Services Market Company Profiles
- 30.2.1. Schlumberger Limited
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Halliburton Company
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Expro International Group
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Baker Hughes Company
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Weatherford International
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Well Testing Services Market Competitive Benchmarking

32. Global Well Testing Services Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Well Testing Services Market

34. Well Testing Services Market Future Outlook and Potential Analysis

34.1 Well Testing Services Market In 2028 - Countries Offering Most New Opportunities
34.2 Well Testing Services Market In 2028 - Segments Offering Most New Opportunities
34.3 Well Testing Services Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer