Market Insights

The well intervention market is estimated to grow from USD 7.73 billion in 2022 to USD 9.91 billion by 2028 at a CAGR of 4.19% during the forecast period.

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What is the well intervention?

Well Intervention targets the crux and explains the basic tools and techniques available for producing the below potential. This process of well-servicing operations is conducted within completed wellbores.

Well Intervention is a well testing process carried out on oil & gas during its fruitful life that changes the state of the well and provides diagnostics and manages the efficient production of the well.

Segment Analysis

By Service Type

The market is segmented as logging & bottom hole survey, tubing/packer failure & repair, stimulation, remedial cementing, zonal isolation, sand control, re-perforation, fishing, artificial lift, and others. The logging & bottom hole survey led the market in 2022 and is expected to maintain its dominance during the forecast period. The increase in demand for energy and expenditure on offshore assets is the contributing factor to the growth of the well industry’s service segment.

By Intervention Type

The market is divided as light, medium, and heavy intervention. The heavy intervention dominated the market in 2022 and is estimated to lead the market during the forecast period. The heavy intervention segment helps in replacing parts, such as pumps and tubing strings that cannot be recovered by means of light interventions.

By Application Type

The market is segmented as onshore and offshore. The Onshore share is more than 60% in 2022. On the other hand, the offshore segment is expected to register faster growth during the forecasted period on account of the increasing investments in subsea oil & gas activities.

By Well Type

The market is segmented as horizontal and vertical. The horizontal segment is expected to account for the larger share of the market, and it accounts for over 70% of the wells drilled globally. The growth can be attributed to the increasing drilling activities in the Middle East and Europe, where horizontal drilling is more prominent. Further, better intervention operations are required in horizontal wells as compared to vertical wells as the wellbore faces a higher challenge of water shutoffs and wax formation.

By Region

North America shares more than 75% in 2022. The market is driven by the growth in unconventional resources in Canada and the USA. Besides, the surge in demand for intervention operations in the maturing offshore fields in regions such as the Gulf of Mexico and other onshore fields in the US is expected to bolster the market during the forecast period.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.