Market Overview:
The global hydraulic workover services market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for oil and gas across the globe, coupled with the rising number of mature oilfields. In addition, technological advancements in hydraulic workover services are also contributing to the growth of this market. On the basis of type, the global hydraulic workover services market is segmented into workovers and snubbing. The workovers segment is further sub-segmented into conventional and unconventional workovers. The snubbing segment is further sub-segmented into conventional and offshore snubbing segments. Onshore applications account for a majority share in terms of revenue in this market, followed by offshore applications. However, due to increasing exploration activities in deepwater regions,the offshore application segment is projected to grow at a higher CAGR during the forecast period from 2018to 2030 .
Product Definition:
Hydraulic workover services are a type of well intervention service that is used to improve the production of a well. This service can be used to remove debris from the well, change the production tubing, or repair damage to the well.
Workover:
Workover is a service that involves the use of equipment such as pumps, compressors and drilling rigs to clear debris from an area. The work done by these tools is usually more effective than conventional mining techniques. Hydraulic workover services are used in various applications including landfills, coal mines disaster areas and construction sites among others.
Snubbing:
Snubbing is a process of creating an artificial reservoir in the well by means of a cement plug, which prevents oil or gas from flowing back to the surface. The main objective behind this procedure is to enable efficient extraction of hydrocarbons from under high pressure and temperature conditions. Snubbing enables enhanced recovery rates as compared to conventional techniques such as perforating or drilling additional wells.
The global market for snubbing.
Application Insights:
Onshore was the dominant application segment in 2017 and is expected to continue its dominance over the forecast period. The growth of this application can be attributed to increasing demand for hydrocarbon resources across various regions, including Middle East & Africa, North America and Asia Pacific. Workover services are used extensively in onshore oilfields as it helps increase the permeability of rock formations thereby making them amenable for hydrocarbon extraction.
Snubbing is a relatively new technology that has gained wide acceptance in recent years owing to its ability to produce high-quality circulation sand with low energy costs and time involved in preparation procedures. Snubbing involves drilling a wellbore below the level where circulation occurs through perforated rocks using hydraulic pressure as an alternative source of fluid supply during drilling operations at depth below ground surface.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The presence of major oilfields such as Khurais, Ghawar, Shaybah, and Safaniya is anticipated to drive the regional market. Furthermore, increasing investments by various companies for developing new fields are also expected to have a positive impact on industry growth over the next eight years.
The Middle East & Africa region is projected to witness significant growth during the forecast period owing to increasing oilfield development activities in countries such as Saudi Arabia and UAE. In addition, rising offshore E&P activities in Egypt & Nigeria are further anticipated boost industry expansion over this period.
Growth Factors:
- Increasing demand for hydraulic workover services from the oil and gas industry to increase production from aging wells
- Rising investments in shale oil and gas exploration and production
- Growing number of mature fields across the globe that need regular workovers for increased production
- Proliferation of horizontal drilling and fracking technologies that has led to an increase in well complexity, thereby necessitating more complex workover operations
- Technological advancements in hydraulic fracturing fluids, coiled tubing units, intelligent pigs etc., that are aiding efficient completion of complex workover operations
Scope Of The Report
Report Attributes
Report Details
Report Title
Hydraulic Workover Services Market Research Report
By Type
Workover, Snubbing
By Application
Onshore, Offshore
By Companies
Halliburton, Superior Energy Services, Precision Drilling, Basic Energy Services, Cudd Energy Services, Nabors Industries, UMW Oil & Gas, EMAS Energy Services, Archer Limited, High Arctic Energy Services
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
141
Number of Tables & Figures
99
Customization Available
Yes, the report can be customized as per your need.
Global Hydraulic Workover Services Market Report Segments:
The global Hydraulic Workover Services market is segmented on the basis of:
Types
Workover, Snubbing
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Onshore, Offshore
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Halliburton
- Superior Energy Services
- Precision Drilling
- Basic Energy Services
- Cudd Energy Services
- Nabors Industries
- UMW Oil & Gas
- EMAS Energy Services
- Archer Limited
- High Arctic Energy Services
Highlights of The Hydraulic Workover Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Workover
- Snubbing
- By Application:
- Onshore
- Offshore
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hydraulic Workover Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Hydraulic workover services are a type of oilfield service that involve the use of hydraulic equipment to perform various operations on an oil well. These services can include performing cementing, perforating, and stimulation activities.
Some of the major companies in the hydraulic workover services market are Halliburton, Superior Energy Services, Precision Drilling, Basic Energy Services, Cudd Energy Services, Nabors Industries, UMW Oil & Gas, EMAS Energy Services, Archer Limited, High Arctic Energy Services.
The hydraulic workover services market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hydraulic Workover Services Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Hydraulic Workover Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Hydraulic Workover Services Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Hydraulic Workover Services Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Hydraulic Workover Services Market Size & Forecast, 2020-2028
4.5.1 Hydraulic Workover Services Market Size and Y-o-Y Growth
4.5.2 Hydraulic Workover Services Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Workover
5.2.2 Snubbing
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Onshore
6.2.2 Offshore
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hydraulic Workover Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Hydraulic Workover Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Workover
9.6.2 Snubbing
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Onshore
9.10.2 Offshore
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Workover
10.6.2 Snubbing
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Onshore
10.10.2 Offshore
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Workover
11.6.2 Snubbing
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Onshore
11.10.2 Offshore
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Workover
12.6.2 Snubbing
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Onshore
12.10.2 Offshore
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Workover
13.6.2 Snubbing
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Onshore
13.10.2 Offshore
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Hydraulic Workover Services Market: Competitive Dashboard
14.2 Global Hydraulic Workover Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Halliburton
14.3.2 Superior Energy Services
14.3.3 Precision Drilling
14.3.4 Basic Energy Services
14.3.5 Cudd Energy Services
14.3.6 Nabors Industries
14.3.7 UMW Oil & Gas
14.3.8 EMAS Energy Services
14.3.9 Archer Limited
14.3.10 High Arctic Energy Services
