Europe Well Completion Equipment and Services Market

Market Introduction

The well completion market in Europe is further segmented into France, Germany, Russia, Italy, the UK, and the Rest of Europe. In comparison with the Nordic and Eastern European countries, western European countries are more developed and technologically advanced. The abundance of natural gas in regions such as the Black Sea, North Sea, Caspian Sea, Barents Sea, Mediterranean Sea, and Norwegian Sea and prominence of shale gas projects are expected to offer potential growth opportunities to the well completion market players in this region. The UK, Germany, France, and Norway hold major expansion opportunities for the market players due to continuously growing and improving oil & gas drilling activities in the Johan Sverdrup field in the North Sea. Moreover, emphasis on, both, conventional and unconventional resources, and reduction in the maintenance cost of wells due to rising crude oil and natural gas demand are likely to drive the European market growth during the forecast period. As a part of the European EUOGA project, 82 hydrocarbon-bearing shale formations, in 21 countries, were assessed for their unconventional resource potential.

The COVID-19 pandemic in Europe has had a diverse impact on various nations, since only a few nations have seen an increase in the number of cases, resulting in stringent, long-term lockdown periods or social isolation standards. Because of their excellent healthcare systems, Western European nations such as Germany, France, Russia, and the United Kingdom have witnessed a comparably slight decline in their growth activities. The governments of these nations have made significant expenditures in improving the efficiency and efficacy of disease detection and treatment. Following the relaxation of limitations across Europe, all of Europe's well completion vendors and component manufacturing are now open. To ensure full compliance with regulatory requirements, sanitary measures are reinforced within locations. As a result, the European well completion equipment and services market is expected to grow significantly in the next years.

Market Overview and Dynamics

The well completion equipment and services market in Europe is expected to grow from US$ 1,495.46 million in 2021 to US$ 1,992.15 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2021 to 2028. Collaboration of oil service vendors and arctic exploration; the future collaboration of oil & gas service providers can have a positive impact on the market. The collaboration and mergers between the companies can lead to the launch of ventures for new projects in the future. Moreover, the exploration projects can generate huge opportunities for market vendors during the forecast period. Due to the present global carbon footprints, several countries across the region has witnessed the melting of glaciers in the past few decades, which has generated the awareness to explore the deep side of the Arctic. This can also lead to the discovery of new materials and resources such as petroleum as the region has a wide scope of discovery of fuel. This is expected to generate huge opportunities for Europe market vendors during the forecast period. This is bolstering the growth of the well completion equipment and services market.

Key Market Segments

Based on the offerings, the well completion equipment and services market are segmented into equipment and services. In 2020, the services segment held the largest share Europe well completion equipment and services market. Based on equipment the market is divided into packers, sand control tools, multistage fracturing tools, liner hangers, smart wells, valves, control devices, and others. In 2020, the packers segment held the largest share Europe well completion equipment and services market. Based on location, the well completion equipment and services market, is segmented into onshore and offshore. The onshore segment accounts for largest market share in the 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the well completion equipment and services market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Baker Hughes Company; Halliburton Company; Nov Inc.; NCS Multistage, LLC; Royal Dutch Shell PLC; RPC Incorporated; Schlumberger Limited; Nine Energy Services; and Welltec among others.

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• To understand the Europe well completion equipment and services market landscape and identify market segments that are most likely to guarantee a strong return
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• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe well completion equipment and services market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.

EUROPE WELL COMPLETION EQUIPMENT AND SERVICES MARKET SEGMENTATION

By Offerings

• Equipment
  • Packers
  • Sand Control Tools
  • Multistage Fracturing Tools
  • Liner Hangers
  • Smart Wells
  • Valves
  • Control Devices
  • Others

• Services

By Location

• Onshore
• Offshore

By Country

• France
• Germany
• UK
• Russia
• Italy
• Rest of Europe

Company Profiles

• Baker Hughes Company
• Halliburton Company
• Nov Inc.
• NCS Multistage, LLC
• Royal Dutch Shell PLC
• RPC Incorporated
• Schlumberger Limited
• Nine Energy Services
• Welltec

Europe Well Completion Equipment and Services Market Strategic Insights

Europe Well Completion Equipment and Services Market Segmentation Analysis

Europe Well Completion Equipment and Services Market Report Highlights

Europe Well Completion Equipment and Services Report Scope

Europe Well Completion Equipment and Services Market Country and Regional Insights