Reservoir Sampling Services Market to Grow with an Impressive CAGR During the Forecast Period
Global reservoir sampling services market is driven by increasing
demand for effective oil production in the forecast period, 2023-2027.
According
to TechSci Research report, “Reservoir Sampling Services Market - Global Industry Size, Share,
Trends, Competition, Opportunity and Forecast, 2017-2027”. The
global reservoir sampling services market may show robust growth in the
forecast years, 2023-2027, with an anticipated CAGR value. The market growth
can be attributed to the factors like increasing demands for energy production
and its usage. The rapidly growing need for oil and gas production is expected
to further drive the growth of the global reservoir sampling services market in
the upcoming five years. Surging demands for oil and gas have rendered the
existent reservoirs exhausted. The requirement for the analysis of the
reservoir capacity, sampling the rocks, pores, and fluids being derived from
the reservoir, is actively supporting the growth of the global reservoir
sampling services market in the next five years. Increasing dependency on geological
core samples, understanding the geomechanical changes, etc., is also
substantiating the demands and thus the growth of the global reservoir sampling
services market in the future five years.
Other
important market driving factors include rising demands for renewable power
generation, growing government mandates, favorable policies. Technological
advancements like the 4D project involving repeating 3D seismic surveys over
producing reservoirs to identify changes in the physical state of the
reservoirs are also influencing the growth of the global reservoir sampling
services market in the forecast years until 2027.
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The
global reservoir sampling services market segmentation is based on type,
location, reservoir type, service, regional distribution, and competitive
landscape. Based on type, the market is divided among downhole, wellhead and
surface recombination. Downhole is anticipated to hold the largest revenue
shares and dominate the market segment on account of increasing demand for
analyzing the capacity of the reservoir and understanding the full potential of
the reservoir in fulfilling the surging demands of oil and gas. Increasing
demand for oil & gas and increased production are further driving the
growth of the global reservoir sampling services market in the upcoming five
years. Wellhead and surface recombination is also anticipated to register
significant growth in the next five years on the grounds of increasing demand
to analyze the quality of the fluids excavated from the reservoir. To monitor
the impurities and toxic gas removal from the reservoir, the demands for
wellhead and surface recombination are increasing and further supporting the
growth of the global reservoir sampling services market in the next five years.
Some
of the market players dominating the global market are:
·
Schlumberger
Limited
·
Halliburton
Company
·
Baker
Hughes Incorporated
·
Weatherford
International
·
CGG
SA
·
Tracerco
·
SGS
SA
·
ALS
Oil & Gas
·
Trican
Well Service Limited
·
Paradigm
Group
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“North America region is anticipated to
hold the largest revenue shares of the market due to increasing oil & gas
production from the larger economies like the United States in the future five
years. The dependency of the population over oil & gas for energy
consumption is anticipated to further support the growth of the global
reservoir sampling services market in the next five years. Also, government
initiatives, favorable policies and schemes would support the market growth in
the region. A rise in renewable energy sources enhances reservoir sampling applications.
Well-grown economy, technological advances, and population of the region are
also indirectly substantiating the growth of the global reservoir sampling
services market in the future five years. Europe region is anticipated to
register significant growth in the next five years on account of the growing
need for geo-modeling and reservoir simulation. Moreover, increased adoption of
cloud-based services to advance the reservoir sampling services is further
aiding the growth of the global reservoir sampling services market in the
forecast years. New market players may focus on research and product
development for effective treatment and early diagnosis would help in the
future brand establishment. Future growth can also be achieved by mergers and acquisitions
with the global giants already established in the market,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global management
consulting firm.
“Reservoir Sampling
Services Market - Global Industry Size, Share, Trends, Competition, Opportunity
and Forecast, 2017-2027, Segmented By Type
(Downhole, Wellhead and Surface Recombination), By Location (Onshore, and
Offshore), By Reservoir Type (Conventional, and Non-Conventional), By Service
(Collection of Reservoir Fluids, Wellsite Analysis, Sample Management, and Rock
and Fluid Laboratory Services), By Region”, has evaluated the future
growth potential of global reservoir sampling services and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global reservoir sampling services market.
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