The global well cementing services market is expected to reach USD 11.08 billion by 2024, according to a new report by Grand View Research, Inc. Rising drilling activities to recover unconventional hydrocarbons such as shale and tight gas coupled with rehabilitation activities in existing oil & gas fields is expected to remain a key driving factor for the global market.
A large number of unexplored reserves particularly in Brazil, Russia, and China, coupled with technological advancements in well cementing equipment and services provided by oil service providers is projected to have a positive impact on the market growth in near future.
Stringent environmental regulations coupled with low crude oil prices are expected to hindermarket growth over the next eight years. Low crude oil prices are anticipated to support stronger economic growth, but it may hamper growth among energy producing states.
Primary cementing was the leading service segment and accounted for over 75% of total market revenue in 2015. It is estimated to remain the largest segment over the next eight years owing to rising E&P to exploit unconventional hydrocarbon reserves.Remedial cementing is anticipated to emerge as the fastest growing well cementing service market over the forecast period owing to increasing rehabilitation of oil & gas wells in both onshore and offshore activities.
Browse Details of Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/well-cementing-services-market
Key Takeaways from the report:
Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/1073/ibb
Grand View Research has segmented the well cementing services market on the basis of service, application,and region:
Global Well Cementing Service Outlook (Revenue, USD Million, 2014 – 2024)
Global Well Cementing Application Outlook (Revenue, USD Million, 2014 – 2024)
Global Well Cementing Regional Outlook (Revenue, USD Million, 2014 – 2024)
Browse Related Reports :
Oilfield Services Market Size, Share & Trends Analysis Report By Application, By Service (Workover & Completion, Production, Drilling, Subsea, Seismic), By Type, By Region (North America, Europe, Asia Pacific, MEA, CSA), And Segment Forecasts, 2018 – 2025
https://www.grandviewresearch.com/industry-analysis/oilfield-service-market
Compressed Natural Gas (CNG) Market Analysis By Source (Associated Gas, Non-Associated Gas, Unconventional Methods), Applications (Light Duty Vehicles, Medium/Heavy Duty Buses, Medium/Heavy Duty Trucks) And Segment Forecasts To 2020
https://www.grandviewresearch.com/industry-analysis/compressed-natural-gas-cng-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1-415-349-0058, Toll Free: 1-888-202-9519Address:201, Spear Street, 1100 City: San FranciscoState: CaliforniaCountry: United StatesWebsite: https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-ai-healthcare-market