Sand control systems play a majorrole in oil & gas production by eliminating sand. It improves theproductivity of the well and lowers economical and safety risks. Sand controlsystems are deployed according to site requirement and operating practices. Theglobal sand control systems market report by Market Research Future (MRFR)covers drivers, restraints, trends, and challenges faced by the industry forthe forecast period (2020-2027). The COVID-19 pandemic and its impact on themarket are explored in the market.
Market Scope
The global sandcontrol systems market size is projected to gain revenues at 4.7% CAGR overthe forecast period. Fluctuating prices of crude oil as well as increased focuson improving the production of oilfields can drive the market. Systeminstallations of sand control systems for lowering overall production costs caninfluence the market positively. Access to residual reserves in oilfieldscoupled with technological advances in new techniques can drive the marketdemand. Offshore oilfields are expected to gain major market share owing toreducing well failure probabilities in ultra deepwater and deepwater wells.
Rise of offshore exploration andproduction activities due to deviation in demand and supply of crude oil canprove bountiful to the sand control systems market. Major oilfield discoveriescoupled with investments by oil & gas companies for acquiring more assetscan bode well for the market.
The COVID-19 pandemic hasnegatively impacted the sand control systems market due to lockdowns causing astilt in demand. Shutting down of production and exploration activities in theoil sector can hamper the market. But challenges of plugging of perforationtunnels and failure of downhole and surface equipment can impede the marketgrowth.
Segmentation
By technique, the market has beensegmented into sand screens, gravel pack, frac pack, inflow control devices,and others. The gravel pack dominated the technique segment of the sand controlsystems market due to the increased drilling of oil and gas fields in theonshore regions. It is implemented in offshore and onshore oilfields. Gravelpacks can expand the production surface area of the well and stabilize sandformation. But the inflow control devices segment is projected to grow at thefastest rate during the forecast period.
On the basis of well type, themarket has been divided into onshore and offshore. Onshore dominates the welltype segment of the market. Existence of huge onshore oil & gas wells isthe major driving factor of the onshore segment in the sand control systemsmarket. Installation of gravel packs for filtering sand during production inthe Permian basin can drive the segment growth. Offshore segment is projectedto be the fastest growing segment during the forecast period mainly due torising deep & ultra deepwater drilling activities globally.
Regional Analysis
North America, Asia Pacific(APAC), Europe, and Rest-of-the-World (RoW) are regions analyzed in the globalsand control systems market.
APAC had captured maximum marketshares in 2017. Large population and rapid industrialization can drive thedemand for energy, which in turn can drive the demand for sand control systems.Rise in oil exploration and production activities in Indonesia, Myanmar,Australia, and Malaysia can bode well for the market. Large imported quantitiesof crude oil had provided a novel growth opportunity for sand control systemequipment dealers. Implementation of these systems had increased processefficiency and prevented equipment from damage.
Competitive Landscape
National Oilwell Varco, BakerHughes Incorporated, Weatherford International, Halliburton Inc., andSchlumberger Limited are key players of the global sand control systems market.Other players include Packers Plus Energy Services Inc., Oil StatesInternational, Tendeka, Welltec, and Superior Energy Services, Inc. Agreements,partnerships, acquisitions & expansions, and product launches are keystrategies deployed by players to gain the edge in the market.
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