Horizontal Completions Market Research Report By Type (Openhole Gravel Pack, Expandable Sand Screen Completion, Pre-Drilled Liner, Perforated Liner, Swellable Packer, Composite Bridge Plug), By Application (Oil Wells, Gas Wells, Water Supply Wells, Geothermal Wells), By Drive System (Rotating Drive Mechanism, Eccentric Drive Mechanism, Linear Drive Mechanism), By Wellbore Size (Less than 5 inches, 5 to 7 inches, Greater than 7 inches) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to

Global Horizontal Completions Market Overview

As per MRFR analysis, the Horizontal Completions Market Size was estimated at 3.96 (USD Billion) in 2022.

The Horizontal Completions Market Industry is expected to grow from 4.34(USD Billion) in 2023 to 10.0 (USD Billion) by 2032. The Horizontal Completions Market CAGR (growth rate) is expected to be around 9.7% during the forecast period (2024 - 2032).

Key Horizontal Completions Market Trends Highlighted

There has been a rising trend in the energy sector in recent years for the improved recovery of oil from reserves, particularly horizontal recovery. There are several reasons for this growth, including the fact that oil is being sought from non-conventional deposits, conventional deposits are getting exhausted, horizontal completions have become easier, and cheaper of implementation. These methods give rise to multiple benefits, such as better reservoir exposure, higher output rates, and less harm to the environment, necessitating the need of their widespread use. Further prospects are related to the development of advanced technologies and materials that will increase the efficiency and performance of horizontal completions. Moreover, the emphasis on sustainability and the transition to cleaner forms of energy open up further market opportunities for developing horizontal completion solutions that are environment-friendly and cost-competitive.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Horizontal Completions Market Drivers

Increasing Demand for Unconventional Oil and Gas Resources

Introduction The growing demand for energy has led to an increased focus on unconventional oil and gas resources, such as shale gas and tight oil. Horizontal completions are essential for unlocking these resources, as they allow operators to drill longer and more complex wells. This has resulted in an increased demand for horizontal completions, and this trend is expected to continue over the next few years. Advantages of Horizontal Completion Horizontal completions offer several advantages over conventional vertical completions.Firstly, horizontal completions allow operators to access more of the reservoir. This increases the length of the well that is exposed to the reservoir and can result in higher production rates. Secondly, horizontal completions can improve the flow of oil and gas through the wellbore. This also has the potential to increase the production rate. The third advantage of horizontal completions is related to the environmental impact of drilling. Horizontal completions require less surface disturbance, which reduces the environmental impact of drilling.Market Growth The increasing demand for unconventional oil and gas resources is expected to drive the growth of the Horizontal Completions Market Industry. As more operators try to develop their unconventional resources, the demand for horizontal completions will continue to increase. This is likely to result in an increased investment in the development of new and innovative horizontal completion technologies. Conclusion In conclusion, horizontal completions are key to unlocking unconventional oil and gas resources.They offer a number of advantages over vertical completions, and demand for them is likely to continue to grow over the medium to long term.

Technological Advancements

The Horizontal Completions Market Industry has been advancing steadily due to various technological innovations. Over the past few years, the industry has benefited from the access to more effective and affordable new-generation techniques of horizontal completion. For instance, the use of coiled tubing and other advanced drilling techniques allowed operators to drill ever-longer and complex wells. Moreover, the introduction of innovative completion fluids and other materials has also been instrumental in enhancing the effectiveness of horizontal completions.As a result, there has been a notable decline in the costs of implementing the horizontal completions, as well as improvements in the production rates of unconventional wells. Technological advancements are projected to continue facilitating the development of the Horizontal Completions Market Industry. As modern technologies become available, the effectiveness of horizontal wells will continue increasing, whereas their implementation will become more cost-efficient.As a result, operators worldwide will increasingly resort to using horizontal completion techniques.

Government Regulations

Government regulations can also impact the growth of the Horizontal Completions Market Industry. For example, regulations that require operators to use certain types of completion fluids or other materials can increase the cost of horizontal completions. In addition, regulations that restrict the use of horizontal completion techniques in certain areas can also limit the growth of the industry. The regulatory landscape for horizontal completions is constantly evolving.As new regulations are developed, it is important for operators to stay up-to-date on the latest changes. This will help them to avoid any potential penalties or delays in their projects.

Horizontal Completions Market Segment Insights

Horizontal Completions Market Type Insights

The Horizontal Completions Market is segmented by Type into Openhole Gravel Pack, Expandable Sand Screen Completion, Pre-Drilled Liner, Perforated Liner, Swellable Packer, and Composite Bridge Plug. The Openhole Gravel Pack segment held the largest market share in 2023, and is projected to continue to dominate the market throughout the forecast period. This is due to the increasing adoption of openhole completions in unconventional reservoirs, where gravel packing is essential to prevent sand production and ensure wellbore stability.The Expandable Sand Screen Completion segment is expected to witness the highest growth rate during the forecast period. This growth is attributed to the rising demand for expandable sand screens in deepwater and ultra-deepwater applications, where traditional sand screens may not be suitable. Expandable sand screens offer the advantage of being able to expand radially to conform to the wellbore, providing better sand control and reducing the risk of screen failure. The Pre-Drilled Liner segment is expected to account for a significant share of the Horizontal Completions Market revenue in 2023.Pre-drilled liners are used to protect the wellbore from collapse and provide a stable platform for subsequent completion operations. The growing adoption of pre-drilled liners in offshore and deepwater applications is driving the growth of this segment. The Perforated Liner segment is expected to hold a steady share of the market throughout the forecast period. Perforated liners are used to create perforations in the casing to allow hydrocarbons to flow into the wellbore. The increasing demand for perforated liners in horizontal completions, particularly in unconventional reservoirs, is supporting the growth of this segment.The Swellable Packer segment is expected to witness moderate growth during the forecast period. Swellable packers are used to isolate different zones within the wellbore and prevent fluid migration. The growing adoption of swellable packers in horizontal completions in deepwater and high-pressure environments is contributing to the growth of this segment. The Composite Bridge Plug segment is expected to account for a small share of the Horizontal Completions Market in 2023. Composite bridge plugs are used to temporarily or permanently isolate sections of the wellbore.The increasing demand for composite bridge plugs in horizontal completions for wellbore abandonment and workover operations is driving the growth of this segment.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Horizontal Completions Market Application Insights

The application segment of the Horizontal Completions Market is segmented in terms of the wells, such as oil wells, gas wells, water supply wells, and geothermal wells. The oil wells segment is leading the market with the highest market share. It is owing to the rising demand for crude oil and the necessity of horizontal completions for enhanced oil recovery as well as exploration and production in the oil wells. In 2023, it accounted for around 60% of the Horizontal Completions Market revenue. The growing exploration and production in unconventional oil reserves, mainly shale formations, are propelling the demand for horizontal completions in oil wells.Gas wells represent the second-largest segment with a considerable market share. It is attributed to the increasing demand for natural gas as a preliminary fuel source due to greenhouse gas emissions as well as rising oil prices in parallel. Horizontal completions in gas wells ensure efficient extraction and production of gas from the tight and complex reservoirs. Water supply wells are projected to have a stable growth rate with a rising demand for clean water resource and optimized groundwater pumping system. Geothermal wells are used to capture geothermal energy and it is propelling the usage of horizontal completions of the geothermal wells.

Horizontal Completions Market Drive System Insights

The Horizontal Completions Market is segmented by drive system into rotating drive mechanism, eccentric drive mechanism, and linear drive mechanism. The rotating drive mechanism segment is expected to hold the largest market share in 2023, and is projected to continue to lead the market throughout the forecast period. The growth of this segment can be attributed to the increasing adoption of rotating drive mechanisms in horizontal completions due to their ability to provide high torque and speed, as well as their reliability and durability.The eccentric drive mechanism segment is expected to experience significant growth over the forecast period, as it offers advantages such as reduced vibration and noise levels, as well as improved efficiency. The linear drive mechanism segment is expected to grow at a steady pace over the forecast period, due to its ability to provide precise control over the movement of the drill bit.

Horizontal Completions Market Wellbore Size Insights

The Horizontal Completions Market is segmented based on Wellbore Size into Less than 5 inches, 5 to 7 inches, and Greater than 7 inches. Among these segments, the Less than 5 inches segment accounted for the largest share of the market in 2023, and is projected to continue its dominance throughout the forecast period. The growth of this segment can be attributed to the increasing adoption of horizontal drilling techniques in unconventional reservoirs, where smaller wellbore sizes are preferred due to the complex geological formations. The 5 to 7 inches segment is expected to witness a significant growth rate during the forecast period, owing to the rising demand for horizontal completions in offshore and deepwater environments, where larger wellbore sizes are required to accommodate production equipment.The Greater than 7 inches segment is anticipated to hold a substantial share of the market, driven by the increasing adoption of horizontal completions in heavy oil and gas fields, where larger wellbore sizes are necessary to facilitate the flow of viscous fluids.

Horizontal Completions Market Regional Insights

The Horizontal Completions Market is segmented into North America, Europe, APAC, South America, and MEA. The market is expected to grow significantly in the coming years, driven by the increasing demand for oil and gas. North America is the largest regional market for horizontal completions, accounting for over 40% of the global market in 2023. The region is home to a large number of oil and gas companies, and the market is expected to continue to grow in the coming years. Europe is the second largest regional market for horizontal completions, accounting for over 30% of the global market in 2023.The region is home to a number of major oil and gas companies, and the market is expected to grow steadily in the coming years. APAC is the third largest regional market for horizontal completions, accounting for over 20% of the global market in 2023. The region is home to a number of emerging oil and gas companies, and the market is expected to grow rapidly in the coming years. South America is the fourth largest regional market for horizontal completions, accounting for over 5% of the global market in 2023. The region is home to a number of major oil and gas companies, and the market is expected to grow steadily in the coming years.MEA is the fifth largest regional market for horizontal completions, accounting for over 3% of the global market in 2023. The region is home to a number of major oil and gas companies, and the market is expected to grow rapidly in the coming years.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Horizontal Completions Market Key Players And Competitive Insights

The leading Horizontal Completions market players are majorly investing in innovative technologies for enhancing the efficiency and effectiveness of the same. The Horizontal Completions Market players are investing high capital amount for research and development to lead the market with their innovative technologies. The Horizontal Completions Market is growing at a very rapid rate due to the increasing demand in the oil and gas sector. Moreover, the increasing demand for oil and gas is increasing the application of Horizontal Completions in developing unconventional reservoirs. The Horizontal Completions Market players are significantly focusing on expanding their global presence by merger, collaboration, and acquisition. The Horizontal Completions Market is expected to experience significant growth in the next few years due to increasing oil and gas demand, technological advancements, and suitable government policies.

HalliburtonHalliburton is a major provider of horizontal completion services in the global market. The company provides a comprehensive range of horizontal completion technologies such as multilateral completions, frac-packs, and expandable liner hangers. The Halliburton Company has strong past success records in the application of horizontal completions in some of the world’s most complicated and challenging horizontal wells. The Halliburton Company has a worldwide presence with its operational units in more than 70 countries globally. The company is highly focused on its customers and is providing high capital investment in R activities to offer the best and perfect Horizontal completions to its customers.

SchlumbergerSchlumberger also is a major player in the Horizontal Completions Market. Schlumberger provides a comprehensive range of horizontal completion services segment includes drilling, completions, and stimulation. Schlumberger has operations in more than 120 countries globally. Schlumberger is focusing on high capital investment in research and development to provide the most advanced and effective horizontal completion technologies to its customers.

Key Companies in the Horizontal Completions Market Include

• Weatherford International


• Eureka Production


• Universal Well Services


• Alpha Completions


• Nabors Industries


• Expro International


• NOV


• Baker Hughes


• PETROLINE Well Services


• Trican Well Service


• Horizon Oilfield Services


• Superior Energy Services


• Schlumberger


• C Energy Services


• Halliburton

Horizontal Completions Market Industry Developments

The Horizontal Completions Market is projected to grow from USD 4.34 billion in 2023 to USD 10.0 billion by 2032, at a CAGR of 9.7%. The growth of the market is attributed to the increasing demand for horizontal completions in unconventional oil and gas reservoirs, rising exploration and production activities in emerging economies, and technological advancements in horizontal completion techniques.Recent news developments in the market include the launch of new products and services by key players, such as the introduction of a new generation of horizontal completion systems by Schlumberger and the acquisition of a leading provider of horizontal completion services by Halliburton. Additionally, there have been several partnerships and collaborations between oil and gas companies and service providers to optimize horizontal completion operations and improve production efficiency.

Horizontal Completions Market Segmentation Insights

• Horizontal Completions Market Type Outlook
  
  
  
  • Openhole Gravel Pack
  
  
  • Expandable Sand Screen Completion
  
  
  • Pre-Drilled Liner
  
  
  • Perforated Liner
  
  
  • Swellable Packer
  
  
  • Composite Bridge Plug
  
  
  
  

• Horizontal Completions Market Application Outlook
  
  
  
  • Oil Wells
  
  
  • Gas Wells
  
  
  • Water Supply Wells
  
  
  • Geothermal Wells
  
  
  
  

• Horizontal Completions Market Drive System Outlook
  
  
  
  • Rotating Drive Mechanism
  
  
  • Eccentric Drive Mechanism
  
  
  • Linear Drive Mechanism
  
  
  
  

• Horizontal Completions Market Wellbore Size Outlook
  
  
  
  • Less than 5 inches
  
  
  • 5 to 7 inches
  
  
  • Greater than 7 inches
  
  
  
  

• 
  

  Horizontal Completions Market Regional Outlook

  
  
  
  
  • North America
  
  
  • Europe
  
  
  • South America
  
  
  • Asia Pacific
  
  
  • Middle East and Africa