Offshore Support Vessel Market worth $26.8 Billion by 2026
The global Offshore Support Vessel Market is expected to grow from an estimated USD 22.0 billion in 2021 to USD 26.8 billion by 2026, at a CAGR of 4.0%, during the forecast period. The market growth is driven by robust investments in the offshore oil & gas and renewable sectors. Increasing deepwater activities and decommissioning of aging offshore infrastructure is likely to offer lucrative...
AI in Oil & Gas Market to exceed 2.85 Billion by 2022
The global AI in Oil & Gas Market is expected to grow from an estimated USD 1.57 Billion in 2017 to USD 2.85 Billion by 2022, at a CAGR of 12.66%, from 2017 to 2022. This growth can be attributed to the factors such as rising adoption of the big data technology, digitalization of the Oil & Gas industry, investments in AI-related start-ups, and rising pressure to reduce production...
Robotic Drilling Market Expected to Grow $923.2 Million by 2023
The global robotic drilling market is expected to grow from an estimated $658 million in 2018 to $923.3 million by 2023, at a CAGR of 7.01% during the forecast period. This market growth is driven by the increased drilling activities due to the development of unconventional hydrocarbon resources and the adoption of automation and robotics in oil and gas drilling, which results in higher...
Intelligent Completion Market to Hit $2.16 Billion by 2023
The global Intelligent Completion Market is expected to grow from an estimated USD 1.61 billion in 2018 to USD 2.16 billion by 2023, at a CAGR of 6.05%, from 2018 to 2023. The market in Europe is estimated to be the largest for intelligent completion followed by the North American market in 2017. This trend is expected to continue till 2023. The growth of the intelligent completion market...
Artificial Lift Market worth $8.7 Billion by 2027
The
global Artificial Lift Market is projected to grow from USD 6.9 billion in 2022 to USD 8.7 billion
by 2027, at a CAGR of 4.8% according to a new report by MarketsandMarkets™. The market has promising growth potential due to the rising global
oil demand and the increasing demand to maximize production from maturing oil
& gas fields and new discoveries, especially in the North American region.
The...
Hydraulic Workover Unit Market Expected to Grow $11.0 Billion by 2025
The global Hydraulic Workover Unit Market size
will grow to USD 11.0 billion by 2025 from USD 8.1 billion in 2020, at a CAGR
of 6.3% during the forecast period. The rising number of mature fields in
Europe and the Middle East, along with rising primary energy demand from the
Asia Pacific, are the driving factors for the Hydraulic Workover Unit Market
globally. The hydraulic workover unit activities...
Pump Jack Market to exceed $3.63 Billion by 2022
The global pump
jack market is expected to grow from an estimated $2.86 billion in 2017 to
$3.63 billion by 2022, at a CAGR of 4.88% from 2017 to 2022. The market in
North America is estimated to be the largest market for pump jack, followed by
the market in Asia-Pacific. The North American market is also projected to be
the fastest growing market during the forecast period.
Increasing onshore...
Perforating Gun Market Surge Towards Outstanding Growth by 2027
The global perforating gun market is projected to reach USD 1.4 billion by 2027 from an estimated market size of USD 1.1 billion in 2022, at a CAGR of 5.6% during the forecast period. The factors driving the growth of Perforating Gun Market are rising exploration and production of unconventional oil & gas resources, especially in the North American region.
Tubing conveyed perforation system:
The...
Artificial Lift Market to Witness Huge Growth by 2025
The global Artificial
Lift Market is expected to grow from an estimated USD 8.0 billion in 2020
to USD 10.3 billion by 2025, at a CAGR of 5.0% during the forecast period.
Increasing efforts by upstream companies to enhance the production from the
mature fields is driving the artificial lift market.
Continuous shale development and the
growing investments in the upstream oil and gas sector are...
Offshore Support Vessel Market Booming Worldwide with Strong Growth by 2026
The global Offshore Support Vessel Market is expected to grow from an estimated USD 22.0 billion in 2021 to USD 26.8 billion by 2026, at a CAGR of 4.0%, during the forecast period. The market growth is driven by robust investments in the offshore oil & gas and renewable sectors. Increasing deepwater activities and decommissioning of aging offshore infrastructure is likely to offer lucrative...