DUBLIN--(BUSINESS WIRE)--The "Drilling and Completion Fluids Market - Growth, Trends and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global drilling and completion fluids market is expected to register a CAGR of over 5% during the forecast period of 2020-2025.
Factors, such as increase in the number of drilling operations in Europe, North America, and Middle East are expected to drive the demand for the drilling and completion fluids market. Additionally, development of shale and deep-water and ultra-deepwater fields is expected to drive the market for drilling and completion fluids. However, the volatile oil prices over the recent period, owing to the supply-demand gap, geopolitics, and several other factors, are restraining the market's growth.
The onshore segment accounted for the maximum market share in the market in 2018. Onshore drilling encompasses all the drilling sites located on dry land and accounts for 70% of the global oil production.
With wells being drilled farther away from land and into the sea, primarily drilled deeper than before, there is an increasing demand for drilling and completion fluids. The total rig count increased by 18% from 933 in beginning of 2017 to 1,104 by the end of 2019. During the same period, the offshore rig count increased by 24% from 206 to 257.
North America is the largest market for drilling and completion fluids, accounting for over 40% of the market share. Moreover, it is expected to be the fastest growing market over the forecast period mainly due to the development of shale plays.
The drilling and completion fluids market is moderately fragmented, with numerous small and big companies operating in the market. The key players in this market include Schlumberger Limited, Baker Hughes Company, Halliburton Company, CES Energy Solutions Corp., Tetra Technologies and Scomi Energy Services BHD, among others.
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Onshore and Offshore Active Rig Count and Forecast, till 2025
4.4 Historic and Demand Forecast of Upstream CAPEX in USD billion, by Onshore and Offshore, 2017-2025
4.5 Historic and Demand Forecast of Offshore CAPEX in USD billion, by Water Depth, 2017-2025
4.6 Historic and Demand Forecast of Offshore CAPEX in USD billion, by Region, 2017-2025
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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