Sand Control Systems Market will expand at a CAGR of 3.96%

Wilmington, Delaware, United States, September 23, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – In 2021, the market value of sand control systems was estimated at $3.3 billion. Sand Control Systems Market insights anticipate that the market will grow at a CAGR of 3.96% during the forecast period, 2022-2031. The global market for sand control systems is expected to reach USD 4.9 billion by 2031. Due to an increase in shale development operations and increasing production of new wells, the global sand control systems market is expected to grow. The oil and gas industry is expected to engage in more exploration and production operations due to significant population growth and increasing demand for petroleum products in the developing world. As a result, it has become critical for oil producers to properly pump oil and gas from wells and achieve higher performance. Sand control systems are helpful for this.

The global crude oil crisis has led to a decline in the number of drilling rigs in recent years. Exploration and drilling operations are affected. When primary or secondary oil recovery methods fail to recover oil, it must be recovered via improved oil production. Global oil companies are likely to use cutting-edge manufacturing methods, including sand control strategies, to improve oil rig operations. In turn, this is predicted to boost sales of sand control systems in the coming years to counteract the falling price of crude oil.

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Key Findings of the Market Report

  • Increased offshore production and development activities are forecast to increase demand for sand control systems. Large oilfield service companies are focused on innovations in sand management techniques to increase their revenue opportunities.
  • In terms of well completion, the cased well market category generated the highest revenue in 2021, accounting for 65.0% of the total market. The category is expected to hold market share for sand control systems during the forecast period. The flow of gas, water, sand and various other formation fluids is naturally reduced when cased wells are properly cemented, which is a natural phenomenon. Consequently, less sand management is required.
  • Sand control systems are needed for new oil and gas discoveries to regulate and prevent wells from producing sand. As a result, the sand control systems market is forecast to continue growing due to newly found and potential oil and gas deposits.

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Global sand control System market: growth driver

The most popular method for sand management, depending on the technique, is gravel pack. With a market share of 43.9% in 2021, the gravel packing category led the overall market for sand control systems. The well screen produced by the gravel pack process limits sand generation and access to the well. The versatility of the technique makes it a popular choice.

The global sand control systems market was dominated by the Middle East and Africa in 2021, accounting for 32.8% of its global value share. The segment is expected to lead the global sand control systems market during the projected period. The world’s largest crude oil producers are in the Middle East and Africa. The regional market for sand control systems in the region is driven by this factor.

Global Sand Control Systems Market: Major Players

Some of the key market players are

  • Superior Energy Services, Inc.
  • Weatherford International plc.
  • The company 3M
  • Schlumberger Limited
  • Grit Industries, Inc.
  • Halliburton company

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Global sand controll System market: segmentation

Technology

  • gravel packing
  • Stand alone screens
  • Resin Coated Gravel
  • Plastic Consolidation
  • Other

application

Good ending

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