Global Horizontal Completions Market 2019-2023

A few of the key findings from the global horizontal completions market analysis report are summarized below

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Global Horizontal Completions Market Overview

The rebound in active rig count because of the recovery in oil prices is one of the primary factors that will drive horizontal directional drilling market growth. The gradual recovery of the global crude oil price from the third quarter of 2016 has increased the number of active rigs in both onshore and offshore drilling. As a result, the demand for oilfield equipment, including horizontal completion equipment, has increased. Advances in drilling technologies and higher production volumes have increased the number of horizontal wells and the rig count, especially in North America.

Advances in zonal isolation in horizontal wells is one of the primary horizontal directional drilling market trends that will gain traction in the coming years. Zonal isolation is essential in preventing the mixing of gas or water of one oilfield zone with the oil in another field. To improve the isolation process, many vendors are working on developing better technologies. Improvements in zonal isolation will not only improve production wells but also boost the use of horizontal drilling. Such factors will increase the demand for horizontal completions. The horizontal directional drilling market is expected to register almost 8% CAGR over the forecast period.

Top Horizontal Completions Companies Covered in this Market Research Report

The global horizontal directional drilling market is moderately concentrated. This report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. The review will help clients in improving their market positions. It also provides a detailed analysis of the upcoming trends and challenges and how they influence market growth. The research will help companies in creating effective strategies to leverage the upcoming market growth opportunities.

The report offers a detailed analysis of a few leading Horizontal Completions companies, including:

• Baker Hughes, a GE Co. LLC
• Halliburton Co.
• National Oilwell Varco Inc.
• Schlumberger Ltd.
• Weatherford International Plc.

Horizontal Completions Market Segmentation Based on Application

• Onshore
• Offshore

Onshore held the largest market share in 2018, and the market segment will record faster growth and maintain its dominance over the forecast period. Rising onshore E&P activities, both conventional and unconventional, owing to the increasing oil and gas products, will fuel the demand for horizontal directional drilling. Onshore E&P activities are preferred over offshore E&P activities because of the lower cost of operations of onshore E&P activities and the requirement of less advanced technologies.

Horizontal Completions Market Segmentation Based on Geographic Region

• APAC
• Europe
• MEA
• North America
• South America

North America held the largest market share in 2018 and will maintain its leading position over the forecast period. The US and Canada were the leading market contributors in the region in 2018. Horizontally drilled wells are continuing to increase in the US because of their potentially higher output production compared with other drilling techniques. Governments in the region are also promoting E&P activities of unconventional energy sources such as shale oil and tight gas to produce oil and natural gas.

Key Highlights of the Horizontal Completions Market Forecast Report for the Period 2019-2023

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the horizontal completions market during the next five years
• Precise estimation of the global horizontal completions market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the Horizontal Completions industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details of factors that will challenge the growth of horizontal completions companies