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North America well intervention market is projected to reach USD 4.2 billion by 2024 from an estimated USD 3.0 billion in 2019, at a CAGR of 6.5% during the forecast period . This report spread across 191 Pages, Profiling 20 Companies and Supported with 44 Tables and 63 figures are now available in this research.
Top Key Players Profiled in the North America Well Intervention Market:
- Halliburton (US)
- Weatherford (US)
- C&J Energy Services (US)
The well type segment is categorized as horizontal and vertical, the two drilling methods adopted by companies. In 2018, horizontal wells accounted for about 80% of the wells drilled in North America. This is majorly due to the increasing drilling activities in Texas, Kansas, and Alberta, where horizontal drilling is more prominent.
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The offshore segment is expected to be the fastest-growing application sub-segment during the forecast period, owing to the discoveries in the deep water and ultra-deep water locations. The offshore wells create demand opportunities for well intervention operations due to the challenging geographic conditions and regulatory standards by nations.
Texas is expected to dominate the US well intervention market between 2019 and 2024. The oil production is rising exponentially in Texas, with a growth rate of 23.7% from 2017 to 2018. Moreover, the continuous shale activities in the state are driving the demand for well intervention operations.
Breakdown of primary participants’ profile:
- By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
- By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
- By Region: US- 75% and Canada-25%
Competitive Landscape of North America Well Intervention Market:
2 Competitive Leadership Mapping, 2018
2.1 Visionary Leaders
3 Market Share Analysis, 2018
4 Competitive Scenario
4.1 New Product Launches
4.2 Expansions & Investments
4.3 Contracts & Agreements
4.4 Mergers & Acquisitions
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