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The intelligent well completion market is expected to grow at a CAGR of more than 1.0% over the period of 2020-2025
Factors such as increasing production from conventional and unconventional resources and reducing maintenance costs of the well are expected to drive the market. However, volatility in crude oil and natural gas prices may restrain the growth of the market.
Oil and gas production is expected to continue to be a vital part of meeting global energy demand, and the offshore segment is expected to grow fastest in the forecast period. Increasing advancements in technologies are expected to aid the growth of the segment.
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The oil and gas swell packers market is expected to rise with a CAGR of more than 1.5% during the forecast period of 2020-2025
Increasing production of oil and gas, along with rapidly growing drilling and completion operations in oil and gas fields, are likely to drive the oil and gas swell packers market. However, the volatile oil prices are expected to slow downstream activities expected to restrain the oil and gas swell packers market.
Due to the increased completion of drilling and workover activities, the onshore segment is likely to dominate the oil and gas swell packers market during the forecast period. In 2019, the increase in natural gas production was about 3.3%, which is likely to drive the market.
Future Analysis in US$ Million by Segment for the Period
2020-2027
Million by Segment: 2012-2019
2012 VS 2020 VS 2027
ITALY
Million by Segment for the Period 2020-2027
Table 35: Packers Historic Market Analysis in Italy in US$
Million by Segment: 2012-2019
Breakdown of Sales for 2012, 2020, and 2027
UNITED KINGDOM
Estimates and Projections in US$ Million by Segment for the
Period 2020-2027
Analysis in US$ Million by Segment for the Period 2012-2019
Table 39: United Kingdom Packers Market Share Analysis by
Segment: 2012 VS 2020 VS 2027
SPAIN
Million by Segment: 2020 to 2027
Table 41: Spanish Packers Historic Market Review by Segment in
US$ Million: 2012-2019
of Sales by Segment for 2012, 2020, and 2027