Global Well Testing Services Market is valued USD 6.86 billion in 2016 is anticipated to grow USD 11.68 billion with the compounded annual growth of 6.09% over the forecast period 2018-2025.
New York 24 September 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Well Testing Services market industry is poised to raise USD 11.68 billion by 2025. Increasing demand for the analysis of oil and gas well to ensure a reasonable profit margins on further investment is expected to drive the growth of Global Well Testing Services Market. Well testing is a process of data acquisition to increasing the understanding of the reservoir characteristics and the fluid contents. It collects data determining whether the fluid produce enough hydrocarbons that gives a reasonable return on further investment. Well Testing is widely used in exploration and appraisal activities. It is used for confirmation, to get detailed fluid properties, measure accurate pressure, and production evaluation.
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Global Well Testing Services Market Size study, by Stage (Exploration, Appraisal, & Development, Production), by Application (Onshore, Offshore), by Service (Real Time Well Testing, Downhole Well Testing, Reservoir Sampling, & Surface Well Testing) and by Regional Forecasts 2018-2025
The industry is seeming to be fairly competitive. Some of the leading market players include Expro International Group Ltd, Halliburton Company, Schlumberger Limited, Tetra Technologies Inc., Weatherford International Ltd., AGR Group ASA, FMC Technologies Inc., Greene’s Energy Group, Helix Energy Solutions Group Inc., MB Petroleum Services LLC, Mineral Technologies Inc., Rockwater Energy Solutions, Inc., CETCO Well Testing, TestAlta, Stric-Lan Companies and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- The North American region accounted for the significant market share, more than XX% of the total market in 2016.
- The Europe region will be the highest growing segment with respect to geographical segmentation, the region is likely to grow by XX% CAGR over the forecast period 2018-2025
Bizwit Research & Consulting LLP has considered following segments for the study:
- Exploration, Appraisal, & Development
- Real Time Well Testing
- Downhole Well Testing
- Reservoir Sampling
- Surface Well Testing
- North America
- Asia Pacific
- Latin America
- Rest of the World