Well Testing Services - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Well Testing Services Market is accounted for $8.09 billion in 2019 and is expected to reach $14.97 billion by 2027 growing at a CAGR of 8.0% during the forecast period. Increasing drilling activities, rising demand for hydrocarbon production from onshore as well as onshore areas and increasing production of oil & gas are driving the market growth. However, declining crude oil prices is hampering the market growth.
A well testing service or well work is any operation carried out on an oil or gas well before drilling or during drilling which provides well diagnostics or manages the production of the well. The well testing service is used for checking the viability at various phases of exploration, appraisal, and development of the well by understanding the characteristics of the reservoir and the properties of the fluid.
Based on the service, the real-time well testing segment is going to have a lucrative growth during the forecast period owing to optimized & stabilized results and continuous and large increment in the U.S. exploration and production activities. By geography, North America is going to have a lucrative growth during the forecast period as increasing E&P expenditure and rising shale gas activities particularly in the U.S. and Canada is expected to enhance demand for these services over the next six years.
Some of the key players profiled in the Well Testing Services Market include Weatherford International Plc, TETRA Technologies, Inc., SGS S.A., Schlumberger Limited, PW Well Test Ltd, MB Petroleum Services LLC, Helix Energy Solutions Group Inc., Halliburton Company, Greene’s Energy Group, FMC Technologies Inc., Expro Group, China Oilfield Services Limited, CETCO Energy Services, Baker Hughes Company, and AGR Group ASA.
• Exploration, Appraisal, & Development
• Surface Well Testing
• Reservoir Sampling & Analysis
• Downhole Well Testing
• Subsea Services
• Real-Time Well Testing
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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