The global sand control systems market is expected to reach more than US$ 5,000 million by 2024 and is projected to register a compound annual growth rate (CAGR) of 5.5% during the forecast period. The increase in number of wells drilled, increasing offshore and onshore investments, inefficiency in production rates and creation of downhole cavities, and wearing and erosion of production equipment are expected to dive the market. In addition, the rising population and rapid industrialization with growing need of enhancing oil production efficiency, large offshore discoveries, huge proven oil reserves, and advancements in sand control techniques enabling operators to offset deep water challenges are fueling the growth of the market. However, the decline in drilling & exploration activities, a sharp reduction in global rig count, high costs of advanced sand control systems, and difficulty in balancing the cost of sand control with the overall economic viability of deepwater wells are factors that are expected to hinder the growth of the market. In addition, a decrease in crude oil prices and environmental regulations for unconventional drilling are hampering the market.

    In this report, the global sand control systems market is segmented by technique and region. The market on the basis of technique is segmented into rate exclusion, resins coated gravel, plastic consolidation, stand-alone screens, gravel packing, frac pack, and others. The global sand control systems market is segmented on the basis of key regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Furthermore, each region is segmented to provide market revenue for select countries such as the U.S., Canada, the U.K., Germany, China, Japan, India, Brazil, and GCC countries. The report includes a detailed study of the global and regional market and analyzes the variations in the growth of the industry in certain regions.

    A glimpse of the report structure is provided in the report description available on the website.

    https://www.marketresearchengine.com/reportdetails/sand-control-systems-market

    The Global Sand Control Systems Market has been segmented as below:

    By Technique Analysis 

    Rate Exclusion
    Resins Coated Gravel
    Plastic Consolidation
    Stand-Alone Screens
    Gravel Packing
    Frac Pack
    Others

    By Regional Analysis

    North America
    Europe
    Asia-Pacific
    Rest of the World

    Halliburton Company, Schlumberger Limited, Weatherford International, Baker Hughes, Inc., Superior Energy Services, RPC Inc., Inc., Grit Industries, Inc., Welltec A/S, and Tendeka are the most active players in the sand control systems market.

    This report covers the sand control systems market, in terms of value, and forecasts the market size till 2024. In addition, the report identifies key growth segments and opportunities in the industry. This report also covers detailed competitive outlook including the share and company profiles of the key players in the global market. Company profile includes company summary, financial summary, business strategy and planning, SWOT analysis, and current developments.

    The deep-dive study on the sand control systems market will help customers with the identification of new market opportunities and targeted promotional plans.

     

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    Source: http://www.financeswire.com/global-sand-control-systems-market-share-will-increase-us-5000-million-by-2024