Dublin, Sept. 06, 2022 (GLOBE NEWSWIRE) -- The "Well Testing Services Market by Services (Downhole Well Testing, Surface Well Testing, Reservoir Sampling, Real Time Well Testing, Hydraulic Fracturing Method Testing) by Application, by Well Type, by Stages by Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global well testing services market is expected to grow at a CAGR of 6.4%, from 2021 to 2026. It is estimated to be USD 6.4 billion in 2021 and is projected to reach USD 8.8 billion by 2026. The factors driving the growth for well testing services are the rising global oil demand and the exploration and adoption of unconventional oil & gas resources.
Real Time Well Testing segment dominates the global market
The real time well testing segment is estimated to have the largest market share and is expected to grow at the highest rate during the forecast period. The higher growth rate of this segment is due to its increased adoption due to cost and operational efficiency and enhanced accuracy of data acquired on performing real time well testing.
Onshore segment to lead the global well testing services market
The onshore segment holds the largest share in the well testing services market, followed by offshore. The onshore exploration and re-exploration activities are expected to fuel the growth of the onshore segment of the well testing services market. Further, the technological advancements to achieve cost and operational efficiency is expected to boost the market for offshore segment of the well testing services market during the forecast period.
North America dominates the global well testing services market in terms of annual growth rate
The North American region is estimated to be the largest market for the well testing services, followed by APAC. The North American region is also projected to be the fastest growing market during the forecast period. The presence of vast shale reserves in the North American region encourages the oilfield operators to invest in the exploration and production of these resources, which consequently drives the demand for the well testing services in the North American region during the forecast period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Well Testing Services Market
4.2 Well Testing Services Market, by Region
4.3 Well Testing Services Market, by Service
4.4 Well Testing Services Market, by Application
4.5 Well Testing Services Market, by Well Type
4.6 Well Testing Services Market in North America, by Application and Country
5 Market Overview
5.1 Introduction
5.2 COVID-19 Health Assessment
5.3 Road to Recovery
5.4 COVID-19 Economic Assessment
5.5 Market Dynamics
5.5.1 Drivers
5.5.1.1 Exploration and Adoption of Unconventional Oil & Gas Resources
5.5.1.2 Increase in Global Oil Demand
5.5.2 Restraints
5.5.2.1 Volatility in Oil and Natural Gas Prices and Capital Expenditure by Oil & Gas Service Providers
5.5.2.2 Introduction of Stringent Government Regulations on Upstream Activities
5.5.3 Opportunities
5.5.3.1 Growth in Oilfield Discoveries
5.5.3.2 Advancements in Enhanced Oil Recovery Technologies
5.5.4 Challenges
5.5.4.1 Transition Toward Adoption of Renewable Energy Sources
5.6 COVID-19 Impact
5.7 Trends/Disruptions Impacting Customers' Businesses
5.7.1 Revenue Shift and New Revenue Pockets in Well Testing Services Market
5.8 Supply Chain Analysis
5.8.1 Raw Material Suppliers
5.8.2 Well Testing Equipment Manufacturers
5.8.3 Well Testing Service Providers
5.8.4 Oilfield Operators
5.9 Market Map
5.10 Innovations & Patent Registration
5.11 Technology Analysis
5.12 Well Testing Services Market: Regulations
5.13 Porter's Five Forces Analysis
5.14 Case Study Analysis
5.14.1 Expro Group's Impactful Solution to Help Achieve Brunei Vision 2035
6 Well Testing Services Market, by Stage
6.1 Introduction
6.2 Exploration, Appraisal, and Development
6.3 Production
7 Well Testing Services Market, by Service
7.1 Introduction
7.2 Downhole Well Testing
7.2.1 Increasing Investments by Oilfield Operators to Boost Growth of Downhole Well Testing Services
7.3 Surface Well Testing
7.3.1 Adoption of Unconventional Oil & Gas Resources Likely to Fuel Demand for Surface Well Testing Services
7.4 Reservoir Sampling
7.4.1 Technological Advancements to Improve Operational and Cost Efficiency Likely to Boost Demand for Reservoir Sampling
7.5 Real Time Well Testing
7.5.1 Increasing Investments in Exploration and Production of Unconventional Resources Expected to Fuel Growth of Real Time Well Testing Segment
7.6 Hydraulic Fracturing Method Testing
7.6.1 Hydraulic Fracturing Activities Concerned with Production of Unconventional Resources Expected to Fuel Demand for Hydraulic Packer Testing
8 Well Testing Services Market, by Application
8.1 Introduction
8.2 Onshore
8.2.1 Onshore Exploration and Re-Exploration Activities Expected to Fuel Growth of Onshore Well Testing Services Market
8.3 Offshore
8.3.1 Achieving of Cost and Operational Efficiency Through Technological Advancements to Boost Growth of Offshore Well Testing Services Market
9 Well Testing Services Market, by Well Type
9.1 Introduction
9.2 Horizontal Wells
9.2.1 Increase in Drilling Activities in Horizontal Wells to Drive Well Testing Services Market
9.3 Vertical Wells
9.3.1 Increase in Investments in Exploration and Production of Unconventional Resources Expected to Fuel Growth of Vertical Wells Segment
10 Well Testing Services Market, by Region
11 Competitive Landscape
11.1 Overview
11.2 Share Analysis of Key Players, 2020
11.3 Market Evaluation Framework
11.4 Segmental Revenue Analysis of Top Market Players
11.5 Recent Developments
11.5.1 Deals
11.5.2 Others
11.6 Competitive Leadership Mapping
11.6.1 Star
11.6.2 Emerging Leader
11.6.3 Pervasive
11.6.4 Participant
12 Company Profiles
12.1 Key Companies
12.1.1 Schlumberger Limited
12.1.2 Halliburton
12.1.3 Expro Group
12.1.4 Baker Hughes
12.1.5 Weatherford
12.1.6 Technipfmc plc
12.1.7 Sgs Sa
12.1.8 National Energy Services Reunited Corp.
12.1.9 Tetra Technologies, Inc.
12.1.10 Oilserv
12.1.11 Exalo Drilling Sa
12.1.12 Greene's Energy Group
12.1.13 Wellmax
12.1.14 Stuart Wells Limited
12.1.15 Edge Drilling
12.2 Other Players
12.2.1 Mb Petroleum Services LLC
12.2.2 Enviroprobe Service, Inc.
12.2.3 Minerals Technologies Inc.
12.2.4 Oil States International, Inc.
12.2.5 Parratt-Wolff, Inc.
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/reports/5520247/well-testing-services-market-by-services?utm_source=GNOM&utm_medium=PressRelease&utm_code=26xlsk&utm_campaign=1746861+-+Global+Well+Testing+Services+Market+to+2026+-+Advancements+in+Enhanced+Oil+Recovery+Technologies+Presents+Opportunities&utm_exec=jamu273prd
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