South America Well Completion Equipment & Services Market is Estimated to Reach $1,194.8 Million in 2019 - A Report by MicroMarket Monitor

The South America Well Completion Equipment & Services market is projected to reach $1,194.8 million by 2019, at a CAGR of 3.4% from 2014 to 2019. http://www.micromarketmonitor.com/market/south-america-well-completion-equipment-and-services-9413498822.html

(PRWEB) April 28, 2015

The South American well completion equipment & services market was valued at $1,012.2 million in 2014, and is projected to reach $1,194.8 million by 2019, at a CAGR of 3.4% from 2014 to 2019.

Browse through the TOC of South America Well Completion Equipment & Services Market for an analysis of industry trends and segments, with the help of various tables and figures.
http://www.micromarketmonitor.com/market/south-america-well-completion-equipment-and-services-9413498822.html

The well completion equipment & services are important for well construction and function as an important input for the smooth functioning of well completion operations. It enhances long-term production and improves wellbore production by preventing the movement of reservoir sand into a wellbore.

According to a recent study, the offshore application is expected to witness substantial growth in the South American region in the next five years, as most of the market is untapped. The offshore segment contributed a share of around 90.0% to the Brazilian well completion equipment & services market in 2014. In South America, Venezuela is one of the largest producers and exporters of crude oil globally, while Brazil is the largest producer of petroleum in South America in 2014.

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Venezuela held the largest share of 33.8% in 2014 of the South American well completion equipment & services market, followed by Brazil, having contributed to a share of 30.4% to the market in the same year.

Major oil producing companies are investing in the South American region to increase their profit margin and to explore the untapped offshore segment. The increasing deep offshore well completion activities are expected to further drive the growth of the market in this region.

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The South American well completion equipment & services market have been mainly classified as packer, sand control tool, multistage frac, linger hangers smart well, safety valve, and many more differentiated on the basis of usage. The market has been analyzed in terms of the major countries in the South American market, such as Venezuela, Brazil, and Argentina. Key players dominant in the South American well completion equipment & service market are Schlumberger (U.S.), Weatherford International Plc. (Ireland), Halliburton Co. (U.S.), and Baker Hughes Inc. (U.S.)

Related Report:

Europe Well Completion Equipment and Services Market
Well Completion-Europe market has been pegged at 807.6m in the year 2014 growing at 11.3% annually and is projected to reach 1,377.3m by the end of the year 2019.
http://www.micromarketmonitor.com/market/europe-well-completion-equipment-and-services-2576429100.html

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