- Opportunity and Forecast, 2016 - 2025
Zonal isolation is necessary for efficient production and stimulation operations of a well. It plays a crucial role in prevention of fluid and gas migration that may increase risk of leakage, drilling time, and cost of construction. In addition, it protects the casing from corrosion, prevents blowouts by rapidly forming a seal, protects the casing from shock loads, and seals off zones of lost circulation. Annular barrier is provided in zonal isolation to isolate the well annulus from reservoir. It can be used for applications such as open-hole fracturing, cement replacement & protection, unconventional fracturing, and side track window sealing.
Paradigm shift of production and exploration activities from onshore to offshore and increase in drilling activities are factors that drive the global zonal isolation market. However, crude oil price has direct impact on chemicals used in zonal isolation, thus fluctuating prices restrains the market growth. Emerging business models offer new growth opportunities for the industry.
The global zonal isolation market is segmented on the basis of application, technology, and geography. Based on application, the market is bifurcated into onshore and offshore. Technology segment is classified into mechanical and chemical. Geographically, the market is divided into North America, Asia-Pacific, Europe, and Middle East & Africa.
Key market players in the global zonal isolation market include TAM International, Inc., Expro International Group Holdings, Baker Hughes, Halliburton Company, Tendeka, Archer, Superior Energy Services, Schlumberger Limited, Weatherford International, C&J Energy Services, Inc., Oilsery, and FMC Technologies. These players have adopted strategies, such as new product launches, partnerships, expansion, collaborations, merger & acquisition, joint ventures, and others to strengthen their position in the industry.
The global garage door openers market is expected to reach $1,740.26 million in 2025, from $1,081.61 million in 2016, growing at a CAGR of 5.49% from 2017 to 2025. The ... Read More >>