Zonal Isolation Packers Market Study on Control Valves and Growth Analysis Covering Drivers and Trends Forecasted during 2019-2027

Posted on 2019-09-27 by Mark Hub in Industrial // 0 Comments

Zonal Isolation Packers Market- Key Insights

Worldwide sales of zonal isolation packers witnessed subdued growth at a CAGR of over 3% from 2013 to 2018. However, ever-evolving demand for energy extraction across the globe provides credence to the unabated demand for zonal isolation packers in the future.
Sales of permanent zonal isolation packers are likely to grow at a CAGR of over 5% in 2019. Permanent zonal isolation packers are estimated to account for over 2/3rd of overall market share by 2027, and will continue to be the top-selling product type.
North America will prevail as the largest market for zonal isolation packers, with demand underpinned by resurgence in drilling & well-intervention applications.
APAC & MEA will remain the fastest-growing market for zonal isolation packers, notably driven by rising focus and investments in both onshore as well as offshore oil & gas exploration activities.

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What are the Key Growth Drivers of Zonal Isolation Packers Market?

The exploration & production (E&P) companies are resorting to zonal isolation packers for gas migration, one of the longstanding challenges faced by the industry. Enhanced safety, protection against formation damage, elimination of expensive work-over, and improved reservoir integrity & productivity, are some of the key benefits of zonal isolation packers propelling their demand in oil & gas exploration & production activities.
Essentiality of effective zonal isolation in case of selective stimulation, formation control, and fracturing applications continues to be a key aspect boosting demand for zonal isolation packers.
In the existing cost-conscious environment, industrial operators seek immediate yet effective solutions for their zonal isolation needs. This, in turn, is translating into a massive influx of advanced zonal isolation packer designs with prompt response to the ever-changing dynamics of challenging applications.
Increasing production of shale gas continues to be a pervasive trend estimated to create favorable grounds for growth of zonal isolation packers market. In a bid to attenuate various challenges associated with shale gas migration, mechanical zonal isolation technologies, such as packers and plugs, are being extensively adopted by industry operators.
Ability of zonal isolation packers to operate effectively and reliably amid temperature fluctuations is a key aspect that makes it a viable proposition across multiple industrial units.

What are the Challenges that Key Stakeholders in the Zonal Isolation Packers Market Need to Address?

With multiple advantages over the conventional zonal isolation techniques, zonal isolation packers are witnessing healthy proliferation across multiple industrial spaces. However, reluctance among industry operators to implement new technologies is likely to challenge the adoption rate of zonal isolation packers.
Stringent governmental controls & tenets vis-à-vis use of zonal isolation technologies are estimated to pose significant challenges for the manufacturers in the zonal isolation packers market with regard to new product rollouts.

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Zonal Isolation Packers Market- The Competitive Landscape

In 2018, Schlumberger Limited- a leading supplier of technologies for use in production, drilling, reservoir characterization, and processing applications- made an official announcement of the launch of ‘CemFIT Shield’, a new zonal isolation technology. The product launch was held at the Society of Petroleum Engineers Annual Technical Conference & Exhibition (SPE ATCE). This new product offers enhanced isolation between hydraulic fracturing stages in case of long & horizontal wells.
In 2018, Halliburton Company- a leading company dealing with oil field products & services- announced its acquisition of Athlon Solutions LLC, a key supplier of customized engineering solutions and services. This acquisition was aimed at developing effective oil field products & services for three categories- stimulation, midstream, and production.
In 2018, Nine Energy Service, Inc. – a leading manufacturer of onshore completion & production services- completed its acquisition of Magnum Oil Tools International, LTD, a key manufacturer of downhole completion products for use in energy applications. This partnership will help both the parties to offer products of greater efficacy combined with excellent conveyance capabilities.

Additional key players operating in the zonal isolation packers market and profiled in the report include Weatherford International PLC, Baker Hughes Inc., National Oilwell Varco, Inc., Trican Well Service Ltd., TAM International, Inc., Tendeka B.V., TAM International, Inc., Gryphon Oilfield Solutions, RGL Reservoir Management Inc., ERA Oilfield Services Co Ltd., Welltec, Vanguard Oil Tools Services LLC, Innovex Downhole Solutions, Inc., Superior Energy Services, Packers Plus Energy Services, Inc., Saltel Industries SAS, Nabors Industries Ltd., and NCS Multistage Holdings, Inc.

Zonal Isolation Packers Market- Additional Insight

Adoption of Zonal Isolation Packer Soars as End-Users Seek Improved Well Lifecycle with Minimum Workover

Global demand for zonal isolation packers remains influenced by two chief factors – well lifecycle and workover. With resurgence in oil & gas drilling activities worldwide and consistent growth i well-intervention activities, deployment of zonal isolation packers, is increasing for seamless production maintenance in the existing oilfields.

Multiple varieties of zonal isolation packers, including inflatable packers, swellable packers, intelligent completion packers, hydraulically set packers, dual string packers, sand control packers, and mechanical packers, are witnessing augmented demand for use in diverse target applications. With relatively greater performance and reliability being two of the key benefits, permanent zonal isolation packer type is emerging as a force to reckon with in the zonal isolation packers market space.

Zonal Isolation Packers Market- Research Methodology

An effective and robust approach has been employed in the zonal isolation packers market report to garner valuable insights into zonal isolation packers market instrumental in determining growth of zonal isolation packers market. The research methodology employed for zonal isolation packers market is a two-step research process that involves primary and secondary research phases for zonal isolation packers market report. The primary research phase for zonal isolation packers market involves in-person interactions and interviews with industry experts in the zonal isolation packers market.

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The secondary research phase in the zonal isolation packers market involves comprehensive study of paid databases, articles and press releases, company websites, trade journals, and other relevant publications associated with zonal isolation packers market. The results obtained in both steps of the research methodology employed for zonal isolation packers market report are cross-checked to offer an authentic compilation of insights into the zonal isolation packers market.

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