The global sand control systems market is projected to grow at a CAGR of 3.78%, from 2017 to 2022. Asia Pacific was the largest market for sand control systems in 2016, followed by the North America and European markets. The growth of the sand control systems market is driven by rising oil & gas production, growing number of wells drilled, and increased drilling activities in Asia Pacific.
The sand control systems market is dominated by a few global players. The key players in this market include Baker Hughes (US), Halliburton (US), Weatherford (Switzerland), Schlumberger (US), and National Oilwell Varco (US).
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The gravel pack segment is expected to hold the largest share of the sand control systems market, by technique, during the forecast period.
The gravel pack sub-segment of the technique segment led the sand control systems market in 2016 and is projected to dominate the market during the forecast period. Increasing drilling of conventional oil and gas fields in onshore regions across the world is the key reason for largest market share of gravel pack segment in 2017. The inflow control devices segment is expected to grow at the fastest rate during the forecast period. Increasing life span of the well and reducing the expenditure are the main factors driving the inflow control technique segment in the sand control systems market.
The onshore application segment is expected to hold the largest share of the sand control systems market, by application, during the forecast period.
The onshore sub-segment of the application segment led the sand control systems market in 2016 and is projected to dominate the market during the forecast period. Presence of vast onshore oil & gas wells and increased dependency on conventional oil & gas are the major factors for largest market share of the onshore segment in the sand control systems market.
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Asia Pacific: The leading market for sand control systems
In this report, the sand control systems market has been analyzed with respect to six regions, namely, Asia Pacific, North America, Europe, South America, the Middle East, and Africa. The market in Asia Pacific led the global sand control systems market in 2016. Growing economy of developing countries such as Australia and China, growing governmental support in oil & gas industry, and increasing private investments to support new drilling activities are expected to drive the sand control systems market in Asia Pacific.
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