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Well Testing Service Market

Well Testing Service Market

Well Testing Service Market Global Industry Assessment & Forecast

# Pages:

136

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0489

Segments Covered
  • By Stage Exploration and Appraisal, & Development, Production
  • By Location of Deployment Onshore, Offshore
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 5.3 Billion
Revenue 2028Revenue 2028: 6.5 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 1.9
Fastest Growing Region Fastest Growing Region (2022 - 2028) North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Well Testing Service market was valued at USD 5.3 Billion in 2020 and is projected to reach USD 6.5 Billion by 2028, growing at a CAGR of 1.9% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2028
Annual Market Size (2028) 6.5 Billion
Annual Market Size (2021)
CAGR (2021 - 2028) 1.9%

Overview and Description

Well testing services can be described as the process of data acquisition increasing the understanding of the reservoir characterization and the fluid properties. Testing provides confirmation, detailed fluid properties, accurate pressure measurements, and production evaluation.


This report provides an analysis of the Well Testing Service market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report includes exhaustive analysis of segments, regions and countries comprising of market size and estimations in terms of revenue for the years 2016–2028. There regional section of the report is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, the report also covers exhaustive information on growth factors/drivers, restraints, opportunities, regulatory landscape and technology roadmap among others. Moreover, the report also includes exhaustive SWOT analysis, PEST analysis, value chain analysis, and Porter’s five forces analysis on Well Testing Service market. This data is likely to help the industry stakeholders and stimulate the decision-making process.

Yearly Infographics 5.3 Billion 6.5 Billion

COVID-19 Impact Analysis

The COVID-19 outbreak has affected various industries worldwide. The Well Testing Service market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy. Industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.


The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Analysis

The energy demand growth across the globe, increase in the global E&P spending along with the increase in the drilling activity in the offshore region is anticipated to augment the growth of the market over the forecast period. 

The potential in recovery of resources as well as maturation of old fields has impacted in the increase of testing services pushing this market up in the last decade. The demand and sales for such services are high in developing nations and are expected to support the growth of the market during the forecast period. 

The lack of awareness among the consumers is expected to hamper the growth of the market in the years to come.

Global Well Testing Service Market Report Scope

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
Market Size Provided In Terms Of Revenue & Volume
Segments Covered Stage, Location of Deployment
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered Helix Energy Solutions, Halliburton Company, Schlumberger, Weatherford, MB Petroleum Services, Expro International Group, AGR Group, Tetra Technologies, Mineral Technologies, FMC Technologies.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Market Segmentation

The report delivers an acute breakdown of the market based on various segments such as Stage, Location of Deployment, , and region. The report includes market size and forecast for each segment by region/country for the years 2016–2028. Moreover, it also covers a thorough analysis of growth factors and opportunities impacting segmental growth.

On the basis of Stage, the market is divided into Exploration and Appraisal, & Development, Production. Exploration dominated the global Well Testing Service market in 2020 and is projected to witness the same trend during the forecast period.

Based on Location of Deployment, the market is segmented into Onshore, Offshore. Onshore accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Global Well Testing Service Market: Stage Segment Analysis

    • Exploration and Appraisal
    • & Development
    • Production

Global Well Testing Service Market: Location of Deployment Segment Analysis

    • Onshore
    • Offshore

Regional Analysis: Preview

Based on the geography, the global Well Testing Service market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. Moreover, the regional sections if further bifurcated into key country level markets for better understanding of the market.

The report covers detailed analysis on drivers, business opportunities, regulatory norms, supplier concertation and such other factors impacting regional growth. Moreover, it also covers market estimations and forecast for each segment for each region for the years 2016–2028. 

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Well Testing Service Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

The global Well Testing Service market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Well Testing Service market are Helix Energy Solutions, Halliburton Company, Schlumberger, Weatherford, MB Petroleum Services, Expro International Group, AGR Group, Tetra Technologies, Mineral Technologies, FMC Technologies..  This section of the report provides in depth analysis on key market players based on various parameters such as business overview, portfolio analysis, business strategies, financial performance, geographical presence, and recent developments among others. It will also include information on key strategies adopted by major market players. 

Global Well Testing Service Market: Key Highlights

  • The global Well Testing Service market was valued at USD 5.3 Billion in 2020
  • The global Well Testing Service Market is projected to reach USD 6.5 Billion by 2028
  • North America held the highest share of the Well Testing Service market in 2020
  • Some of the major companies operating in the Well Testing Service market are Helix Energy Solutions, Halliburton Company, Schlumberger, Weatherford, MB Petroleum Services, Expro International Group, AGR Group, Tetra Technologies, Mineral Technologies, FMC Technologies.

FAQ
Frequently Asked Question
  • The global Well Testing Service valued at 5.3 Billion in 2020 and is expected to reach 6.5 Billion in 2028 growing at a CAGR of 1.9%.

  • The prominent players in the market are Helix Energy Solutions, Halliburton Company, Schlumberger, Weatherford, MB Petroleum Services, Expro International Group, AGR Group, Tetra Technologies, Mineral Technologies, FMC Technologies..

  • The market is project to grow at a CAGR of 1.9% between 2021 and 2028.

  • The driving factors of the Well Testing Service include

    • The energy demand growth across the globe, increase in the global E&P spending along with the increase in the drilling activity in the offshore region is anticipated to augment the growth of the market over the forecast period.
    • The potential in recovery of resources as well as maturation of old fields has impacted in the increase of testing services pushing this market up in the last decade. The demand and sales for such services are high in developing nations and are expected to support the growth of the market during the forecast period.

  • North America was the leading regional segment of the Well Testing Service in 2020.