Sand Screen Market to Gain from Discovery of New Oil & Gas Reserves

Pune, India, May 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Sand Screen Market.

Market Overview

Market Research Future (MRFR) has published a research report on the global sand screen market asserting that the market is anticipated to exhibit steady growth over the forecast period of 2016-2027. Various factors are substantiating the growth of the market. 

The growth of the sand screen market stems from the oil & gas industry, where sand screen finds application mainly. Sand screen is used in the sand control system in the oil & gas extraction process. Production of oil and gas always involves the production of solid particles. It can vary from few to several thousand grams in a cubic meter of produced fluid. If not treated properly, this can result in severe accidents. Sand produced during exploration activities can present severe obstacles to production process such as reduced production rates, sand bridging, erosion of equipment, sand bridging, and sand disposal & removal.  Most oil and gas reservoirs are found in sandstones, and thousands of feet downhole, formation sand can choke oil or gas production. Thus, a sand management approach becomes necessary. This induces demand within the sand screen market. Expansion of the oil & gas industry along with a rise in exploration activities is auguring the growth of the sand screen market.

Oil prices have commanded low prices over the past few years due to which operators are reluctant to construct new wells in frontier areas and are mostly opting to maximize output from existing producing fields. This has impacted the sand screen market to a great extent. Extraction of oil from existing fields generate more requirement for sand screen which boosts the growth of the market.

Developments in sand control technology such as improvement in erosion resistance and use of ceramic materials which facilitates excellent performance in terms of production stability have largely contributed to the growth of the sand screen market. Other driving factors include new crude oil and natural gas reservoir discoveries across the globe which are estimated to create attractive prospects for the growth of the market.

Segmentation

The global sand screen market has been segmented based on application and well type.

By application, the sand screen market has been segmented into stand-alone, remedial or artificial lift protection.

By well type, the sand screen market has been segmented into land and offshore.

Access Report Details @ https://www.marketresearchfuture.com/reports/sand-screen-market-1589

Competitive Landscape

Freudenberg Sealing Technologies, Henniges Automotive, Trelleborg, SKF, Dichtungstechnik, Federal-Mogul, Dana Holding, and KACO GmbH + Co. KG are the distinguished players in the sand screen market.

Regional Analysis

By region, the global sand screen market has been segmented into North America, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).

Rising onshore and offshore exploration activities in North America has positioned the region as the major sand screen market. Shale gas discovery in the US has also had a positive impact on the growth of the market.

The Middle East is among the largest producers of oil & gas in the world due to which the sand screen market is highly consolidated in the region. The region induces continued demand for sand screen market.

The APAC market is expected to showcase rapid growth owing to increased drilling activities in the region. The governments in the region are investing massively in the exploration activities to meet the growing energy crisis in the region which has provided a boost to the market.

Industry Updates

March 2018 - Tendeka, designer and manufacturer of upper and lower completion systems and production optimization technologies for the oil and gas industry, secured a multi-million dollar contract from an operator in Sub-Sahara Africa to deliver autonomous inflow control devices (AICD) sand screens. As per the contract, Tendeka will supply its specialist FloSure Elite sand screens with its FloSure autonomous inflow control devices (AICDs) and zonal isolation products.