Dublin, June 29, 2022 (GLOBE NEWSWIRE) -- The "Well Testing Services Market Share, Size, Trends, Industry Analysis Report, By Application; By Well Type; By Service; By Stages; By Region; Segment Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global well testing services market size is expected to reach USD 10.97 billion by 2030 according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing focus on unconventional oil & gas reserves, coupled with the rising investment in the discovery of unconventional oil & gas reserves, are the primary factors that are stimulating the industry growth. In addition, continuous technological developments to extract unconventional fuels, growing expenditure in the research and development activities, and increasing production of unconventional oil & gas are further surging the industry demand globally.
Furthermore, increasing offshore exploration and production activities, along with the thriving demand for fossil fuels to raise fuel production, is also presenting various growth prospects to the industry growth over the forecasting years. Based on the service, the real-time testing service segment is dominating the global market and is anticipated to lead the market over the forecasting period. The growth of the segment can be attributed to it helping in monitoring data and trends as the operation carry out. The segment offers real-time decisions that facilitate safe operation flow to confirm data competence, optimum utilization of resources, and maintain the quality of data.
Whereas the surface testing service segment is exhibiting the highest CAGR in the estimated period owing to it cutting down the production costs and the optimizing operation. Moreover, rising investment in the R&D activities by the leading vendors is further accelerating the segment growth in the near future. The increasing number of oilfield discoveries is one of the major driving factors for industry growth.
Various market players are focusing on making discoveries in some of the current fields to overcome several challenges in generating hydrocarbons at a low price in the oil & gas industry. Leading oil & gas enterprises are heavily investing in making extensive discoveries in the offshore and onshore areas. For instance, as per the B.P. Statistical Review of 2020, there are around 1,733.9 billion barrels unexplored for proven oil reserves by the end of 2019. These reserves offer growth prospects for drilling activities, which is projected to drive the market demand in the forecasting years.
Market participants such as National Energy Services Reunited, Edge Drilling, EXALO Drilling SA, EXPRO Group, Greene's Energy Group, Halliburton, Oilserv, Schlumberger Limited, SGS SA, Stuart Wells Limited, Baker Hughes, Tetra Technologies, Inc., TechnipFMC, Weatherford, and Wellmax are some of the key players operating in the global market.
Key Topics Covered:
1. Introduction
2. Executive Summary
3. Research Methodology
4. Global Well Testing Services Market Insights
4.1. Well Testing Services - Industry Snapshot
4.2. Well Testing Services Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Exploration and adoption of unconventional oil & gas resources
4.2.1.2. Growth in oilfield discoveries
4.2.2. Restraints and Challenges
4.2.2.1. The transition toward the adoption of renewable energy resources
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTLE Analysis
4.5. Well Testing Services Industry Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Well Testing Services Market, by Services
5.1. Key Findings
5.2. Introduction
5.2.1. Global Well Testing Services Market, by Services, 2018 - 2030 (USD Billion)
5.3. Downhole Testing
5.3.1. Global Well Testing Services Market, by Downhole Testing, by Region, 2018 - 2030 (USD Billion)
5.4. Surface Testing
5.4.1. Global Well Testing Services Market, by Surface Testing, by Region, 2018 - 2030 (USD Billion)
5.5. Reservoir Sampling
5.5.1. Global Well Testing Services Market, by Reservoir Sampling, by Region, 2018 - 2030 (USD Billion)
5.6. Real Time Testing
5.6.1. Global Well Testing Services Market, by Real Time Testing, by Region, 2018 - 2030 (USD Billion)
5.7. Hydraulic Fracturing Method Testing
5.7.1. Global Well Testing Services Market, by Hydraulic Fracturing Method Testing, by Region, 2018 - 2030 (USD Billion)
6. Global Well Testing Services Market, by Application
6.1. Key Findings
6.2. Introduction
6.2.1. Global Well Testing Services Market, by Application, 2018 - 2030 (USD Billion)
6.3. Onshore
6.3.1. Global Well Testing Services Market, by Onshore, by Region, 2018 - 2030 (USD Billion)
6.4. Offshore
6.4.1. Global Well Testing Services Market, by Offshore, by Region, 2018 - 2030 (USD Billion)
7. Global Well Testing Services Market, by Well Type
7.1. Key Findings
7.2. Introduction
7.2.1. Global Well Testing Services Market, by Well Type, 2018 - 2030 (USD Billion)
7.3. Horizontal
7.3.1. Global Well Testing Services Market, by Horizontal, by Region, 2018 - 2030 (USD Billion)
7.4. Vertical
7.4.1. Global Well Testing Services Market, by Vertical, by Region, 2018 - 2030 (USD Billion)
8. Global Well Testing Services Market, by Stages
8.1. Key Findings
8.2. Introduction
8.2.1. Global Well Testing Services Market, by Stages, 2018 - 2030 (USD Billion)
8.3. Exploration, Appraisal and Development
8.3.1. Global Well Testing Services Market, by Exploration, Appraisal and Development, by Region, 2018 - 2030 (USD Billion)
8.4. Production
8.4.1. Global Well Testing Services Market, by Production, by Region, 2018 - 2030 (USD Billion)
9. Global Well Testing Services Market, by Geography
10. Competitive Landscape
10.1. Expansion and Acquisition Analysis
10.1.1. Expansion
10.1.2. Acquisitions
10.2. Partnerships/Collaborations/Agreements/Exhibitions
11. Company Profiles
11.1. Baker Hughes
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Product Benchmarking
11.1.4. Recent Development
11.2. Edge Drilling
11.2.1. Company Overview
11.2.2. Financial Performance
11.2.3. Product Benchmarking
11.2.4. Recent Development
11.3. EXALO Drilling SA
11.3.1. Company Overview
11.3.2. Financial Performance
11.3.3. Product Benchmarking
11.3.4. Recent Development
11.4. EXPRO Group
11.4.1. Company Overview
11.4.2. Financial Performance
11.4.3. Product Benchmarking
11.4.4. Recent Development
11.5. Greene's Energy Group
11.5.1. Company Overview
11.5.2. Financial Performance
11.5.3. Product Benchmarking
11.5.4. Recent Development
11.6. Halliburton
11.6.1. Company Overview
11.6.2. Financial Performance
11.6.3. Product Benchmarking
11.6.4. Recent Development
11.7. National Energy Services Reunited
11.7.1. Company Overview
11.7.2. Financial Performance
11.7.3. Product Benchmarking
11.7.4. Recent Development
11.8. Oilserv
11.8.1. Company Overview
11.8.2. Financial Performance
11.8.3. Product Benchmarking
11.8.4. Recent Development
11.9. Schlumberger Limited
11.9.1. Company Overview
11.9.2. Financial Performance
11.9.3. Product Benchmarking
11.9.4. Recent Development
11.10. SGS SA
11.10.1. Company Overview
11.10.2. Financial Performance
11.10.3. Product Benchmarking
11.10.4. Recent Development
11.11. Stuart Wells Limited
11.11.1. Company Overview
11.11.2. Financial Performance
11.11.3. Product Benchmarking
11.11.4. Recent Development
11.12. TechnipFMC
11.12.1. Company Overview
11.12.2. Financial Performance
11.12.3. Product Benchmarking
11.12.4. Recent Development
11.13. Tetra Technologies, Inc.
11.13.1. Company Overview
11.13.2. Financial Performance
11.13.3. Product Benchmarking
11.13.4. Recent Development
11.14. Weatherford
11.14.1. Company Overview
11.14.2. Financial Performance
11.14.3. Product Benchmarking
11.14.4. Recent Development
11.15. Wellmax
11.15.1. Company Overview
11.15.2. Financial Performance
11.15.3. Product Benchmarking
11.15.4. Recent Development
For more information about this report visit https://www.researchandmarkets.com/r/1yuq69
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