Sand control systems are used to minimize production of sand from wells. Sand control systems help in eliminating problems such as erosion of the hardware and downhole cavities.
Major factor driving growth of the global sand control systems market is increasing number of oil and gas exploration and production (E&P) activities across the globe. Additionally, redevelopment of old reservoirs is another factor expected to propel growth of the global market over the forecast period.
The global sand control systems market is segmented on the basis of well type, technique, application, and region. On the basis of well type, the target market is segmented into cased hole and open hole. Among the well type segment, accounted for major revenue share in the target market over the forecast period.
On the basis of technique, the target market is segmented into gravel pack, frac pack, sand screens, inflow control devices, and others. Among the technique segments, the gravel pack segment accounted for highest revenue share in the market, owing to increasing number of onshore oil and gas drilling activities across the globe.
On the basis of application, the target market is segmented into onshore and offshore. Among the application segments, the onshore segment accounted for highest revenue share and projected to maintain its dominance in the market during the forecast period, owing to development of onshore hydrocarbon reserves across the globe.
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Asia Pacific market accounted for highest share in terms of revenue in the global market, as compared to that of markets in other regions. This can be attributed to growing demand for sand control systems on both onshore and offshore drilling activities to increase efficiency of operation in emerging economies such as China, India, etc. North America market is projected to register substantial growth with CAGR of X.X% in the target market followed by market in Europe, owing to presence of oil and gas reserves in countries I the region.
Key players in the global sand control systems market include Schlumberger Limited, Weatherford International plc, Halliburton Company, National Oilwell Varco, L.P., Dialog Group Berhad, Interwell Norway AS, Packers Plus Energy Services Inc., Superior Energy Services, Inc., Tendeka B.V., and Variperm (Canada) Limited.