Global Rigless Intervention Systems Market is expected to grow at a steady pace during the forecast period, 2023-2028, owing to the increased exploration and production
of onshore and offshore oil and gas reserves.
A well-intervention
operation carried out by utilizing tools and infrastructure that do not require
a rig over the wellbore. Activities such as coiled tubing, slickline, and
snubbing are frequently carried out as rigless operations.
Advances
in 4D Seismic Survey Technologies is Driving the Global Rigless Intervention
Systems Market
One
of the major market trends for rigless intervention services that is expected to
have a beneficial effect on the sector during the forecast period is the
development of 4D seismic survey technologies. The development of 4D seismic
survey technologies is expected to aid in learning more about the oil still
present in active oil fields and exploration of additional regions. In order to
obtain improved and more accurate information on the oil fields, the seismic
surveys are transitioning from three-dimensional (3D) seismic surveys to
four-dimensional (4D) seismic surveys. The information is put to use to build a
cube, including its height, breadth, and depth. The observed changes might be
influenced by the location, temperature, and pressure as well as the fluid
saturation. Schlumberger uses 4D seismic survey technology and does analysis on
it. The market under consideration will keep expanding in the coming years as
technology develops and acquires speed in its acceptance. It is a monitoring method that, in comparison to 2D and
3D, gives images of the prospective reservoir that are of higher quality.
Additionally, 4D seismic technology has the capacity to concurrently receive
both the horizontal and vertical components of seismic waves in order to
provide a deeper understanding of the characteristics of the rocks and fluid
located beneath.
Increase in Oil and Gas Rig Count
The gradual increase in onshore and offshore drilling
projects, particularly in the Gulf of Mexico region, is primarily responsible
for the rise in rig counts. North America had 779 land oil and gas rigs as of
April 2022. The total number of rigs in use worldwide as of May 2022, according
to Baker Hughes International, is 1628. The increase in projects is a result of
the crude oil prices stabilizing, which has enhanced the profit margin for
drilling and production businesses. During the projection period, the market in
focus is expected to grow as a result of an increase in rig count brought on by
significant investments in the oil and gas sector.
Renewable Energy Impede the Market Growth
In the short and long term, renewable energy offers a huge
potential to lower costs and dependence on fossil fuels. Despite ongoing
pandemic-related supply chain issues, construction holdups, and record-high
commodity prices for raw materials, annual renewable capacity additions reached
a new record in 2021, increasing by 6% to approximately 295 GW. Fossil fuels
such as coal, oil, and gas, account for more than 75% of all greenhouse gas
emissions and almost 90% of all carbon dioxide emissions, making them by far
the biggest cause of climate change in the world. The science is very clear:
emissions must be cut in half by 2030 and reach zero by 2050 in order to
prevent the worst effects of climate change. To do this, we must stop relying
on fossil fuels and start putting money into reliable, clean, accessible, and
affordable alternative energy sources. The sun, wind, water, waste, and heat from the Earth are all
abundant sources of renewable energy that replenish themselves naturally and
emit little to no greenhouse gases or other air pollutants. More than 80% of
the energy produced worldwide is still derived from fossil fuels, although
cleaner energy sources are gaining popularity. Right now, renewable energy
sources account for about 29% of electricity.
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Market Segmentation
The Global Rigless Intervention Systems
Market is segmented on the basis of type, location, application, end use and technique.
Based on type, the market is further bifurcated into shelf-stable creamers and
refrigerated liquid creamers. Based on location, the market is split into offshore
and onshore. Based on application, the market
is further segmented into abandonment services, pre-installation services, and wireless
services. Based on end use, the market is divided into supermarkets/hypermarkets,
convenience stores, and others. Based on technique, the market is divided into coiled
tubing, hydraulic workover, and wireless.
Market Players
Major
market players in the Global Rigless
Intervention Systems Market are Acteon Group Ltd., Baker Hughes Co., EFC Group Ltd., Expro Group
Holdings NV, Gulf Intervention Services DMCC, Halliburton Co., Helix Energy
Solutions Group Inc., Oceaneering International Inc., Schlumberger Ltd., and Weatherford
International Plc.
Recent Development
- Acteon Group Ltd. - The
company offers rigless intervention services through systems such as
Wellraizer Rigless Recovery System.
- Baker Hughes Co. - The
company offers rigless intervention services through systems such as
Mastiff rigless intervention system.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 –
2022
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Estimated Year
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2023
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Forecast Period
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2023 – 2028
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Quantitative Units
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Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
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Report coverage
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Revenue
forecast, company share, growth factors, and trends
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Segments covered
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Type
Location
Application
End Use
Technique
|
|
Regional scope
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North
America, Asia-Pacific, Europe, South America, Middle East
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|
Country scope
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United States, Canada, Mexico, China, Indian, Japan, South
Korea, Australia, Singapore, Malaysia, Germany, United Kingdom, France, Italy,
Spain, Poland, Brazil, Argentina, Africa, Saudi Arabia, South Africa, UAE,
Iraq
|
|
Key companies profiled
|
Acteon Group Ltd., Baker Hughes Co.,
EFC Group Ltd., Expro Group Holdings NV, Gulf Intervention Services DMCC,
Halliburton Co., Helix Energy Solutions Group Inc., Oceaneering International
Inc., Schlumberger Ltd., Weatherford International Plc.
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Customization scope
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10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
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|
Pricing and purchase options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery Format
|
PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request)
|
Report Scope:
In this report, the
Global Rigless Intervention Systems Market
has been segmented into following
categories, in addition to the industry trends which have also been detailed
below:
·
Global Rigless Intervention Systems Market, By Type:
- Shelf-Stable Creamers
- Refrigerated Liquid Creamers
·
Global Rigless Intervention Systems Market, By Location:
·
Global Rigless Intervention Systems Market, By Application:
- Abandonment Services
- Pre-Installation Services
- Wireline Services
·
Global Rigless Intervention Systems Market, By End Use:
o
Supermarkets/Hypermarkets
o
Convenience Stores
o
Other
·
Global Rigless Intervention Systems Market, By Technique:
o
Coiled Tubing
o
Hydraulic Workover
o
Wireless
·
Global Rigless Intervention Systems Market, By Region:
o
North America
§ United States
§ Canada
§ Mexico
o
Asia-Pacific
§ China
§ India
§ Japan
§ South Korea
§ Thailand
§ Indonesia
§ Philippines
§ Australia
§ Singapore
§ Malaysia
o
Europe
§ Germany
§ United Kingdom
§ France
§ Italy
§ Belgium
§ Netherlands
§ Switzerland
§ Spain
o
South America
§ Brazil
§ Argentina
o
Middle East
§ South Arabia
§ South Africa
§ Egypt
§ UAE
§ Israel
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Global
Rigless Intervention Systems Market.
Available Customizations:
With the given market data, Tech Sci Research offers
customizations according to a company's specific needs. The following
customization options are available for the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
Global Rigless Intervention Systems Market is an upcoming report to be
released soon. If you wish an early delivery of this report or want to confirm
the date of release, please contact us at [email protected]