(EMAILWIRE.COM, August 02, 2018 ) The Well Intervention Market is expected to grow from an estimated USD 8.18 billion in 2017 to USD 9.85 billion by 2022, at a CAGR of 3.78%, from 2017 to 2022. The upsurge in global energy demand, increase in oil & gas production, and revitalization of aging fields/wells are the major factors driving the well intervention market.

Browse 76 market data tables and 78 figures spread through 181 pages and in-depth TOC on "Well Intervention Market by Services (Logging & Bottomhole Survey, Tubing/Packer Failure & Repair, Stimulation, Sand Control, Artificial Lift, Fishing, Others), Application (Onshore & Offshore), and Region - Global Trends & Forecast to 2022"

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Well Intervention is advancing beyond conventional reservoir applications. Given the growing demand for energy and the depletion of existing reservoirs, untapped reservoirs with typical geological structures are quickly becoming a crucial alternative. However, these unconventional resources cannot be tapped effectively with the existing well technology; therefore, companies need to adopt advance well intervention technologies to explore the most difficult structures across the globe.

Some of the leading players in the Well Intervention Market include GE Oil & Gas (U.K.), Baker Hughes Incorporated (U.S.), Halliburton Company (U.S.), Schlumberger Limited (U.S.), Weatherford International plc (Switzerland), Expro International Group Holdings Ltd. (U.K.), Archer Limited (U.K.), Welltec International ApS (Denmark), TechnipFMC plc (U.K.), Trican Well Service Ltd. (Canada), Basic Energy Services, Inc. (U.S.), Superior Energy Services, Inc. (U.S.), Key Energy Services, Inc. (U.S.), and Lupatech SA (Brazil), among others.

The well intervention market is segmented by service type, application, and region. The increasing shale gas production, in the North America region is driving the well intervention market in this region. The global oil production increased by around 1% since 2015 as compared to 2014 with Europe and Middle East witnessing 2% and 0.70% respective increase in oil production from 2015, there by driving the market for the various well intervention services mentioned in the report.
The stimulation & sand control services segment of the well intervention market is projected to grow at the fastest pace during the forecast period. The need to enhance production and produce from mature & unconventional reservoirs drives the market for this segment during the forecast period.

The onshore application market is expected to dominate the well intervention market till 2022. This growth is majorly driven by the revitalization of aging onshore fields/wells. The offshore application segment is expected to grow at the fastest pace during the forecast period. This growth is attributed to the nearly maturing onshore fields and increasing E&P activities in the offshore environment.

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The heavy well intervention segment is estimated to grow at the fastest pace during the forecast period. Whereas the light well intervention market is estimated to hold the largest market share till 2022.

The Well Intervention Market in Africa is expected to be the fastest growing regional market during the forecast period. The African region is experiencing continuous oil & gas field development which triggers the need for well intervention/workover services.

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