Completed Well Pad and Equipment Market to Undertake Strapping Growth During 2024
Well
pad refers to a platform that is constructed for the proper
functioning of a drilling rig on a plot of land, which is meant for
the extraction of crude oil and natural gas. Generally, there are
five different type of equipment used for well pad: wellheads, tanks,
separation unit, combustors, and remote telemetry unit (RTU).
Wellhead not only helps in preventing leakage of oil and gas but also
aids in controlling the extraction process from the underground well.
With constantly incrementing population and lack of efficient
alternatives, the demand on the oil and gas industry is at an
all-time peak. This is expected to reflect on the global market for
completed well pad and equipment and expand it at a healthy growth
rate during the forecast period of 2016 to 2024.
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Report Overview @
This
report on global completed well pad and equipment market is a
thorough analysis of all the prominent factors that are expected to
influence the growth rate in the near future, and presents a
figurative scenario until 2024. One of the key feature of this report
is the section on company profiles, wherein several key players have
been explored for their market share, manufacturing base, margin, and
recent strategic developments to gain ground over their competitors.
Global
Completed Well Pad and Equipment Market: Trends and Opportunities
Rising
population, with which the demand for oil and natural gas is
escalating, is the primary factor that is prompting companies to opt
for the latest technology in order to ensure maximum production.
Additionally, the rapid development in several emerging economies
such as India, China, and Brazil is lead to extended demand for
energy, which can be served only by maximizing the returns from
existing natural resources. Technological advancements, which has
helped in protecting against leakage and proper extraction, is
another factor driving the global market for completed well pad and
equipment. However, substantial funds required for drilling is
expected to hinder the growth during the forecast period.
Wellheads
are built of a metal covering of seals, pipes towards the exterior,
and control devices. This covering manages the separation of gas and
oil from the underground well. Well heads also help in monitoring the
seepage of gas and oil from the well. The separation unit eliminates
liquid and water hydrocarbons from the stream of gas and oil.
Combustors of the completed well pad and equipment market are
elongated tubular equipment sections. They cause the smoldering of
unstable unrefined composites which might collect in tanks.
Global
Completed Well Pad and Equipment Market: Regional Outlook
Geographically,
the report studies the regional markets of North America, Asia
Pacific, the Middle and Africa, Latin America, Europe, and rest of
the world. Currently, North America serves the maximum demand in the
completed well pad and equipment market, owing to constant
explorations and drilling in the countries of Canada and the U.S.
China is the most prominent country market in the region of Asia
Pacific.
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Companies
mentioned in the research report
Devon
Energy Corporation, Encana Corporation, The H&K Group, Geotech
Drilling Ltd, Ausenco Company, Suncor Energy Inc., Equinox
Engineering Ltd. Salym Petroleum, and DA Nolt Inc are some of the
prominent companies currently operational in global completed well
pad and equipment market. These players have strong presence in their
respective region.
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