Well Intervention Market Size To Reach $12.01 Billion By 2030

Well Intervention Market Growth & Trends

The global well intervention market size is expected to reach USD 12.01 billion by 2030, at a registering a CAGR of 3.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Development of new oilfields has been a major factor driving market growth. Employment of well intervention services has increased owing to the growing need for energy. 

Well intervention services are utilized extensively for E&P activities and well cleanup purposes. Monitoring of various activities in the well reservoir, and the ongoing operations, including, perforations, radioactivity, temperature, cementing, noise, plug and packer settings, have become of utmost importance; owing to the high amount of risk. On account of this scenario, logging and bottom hole survey was the largest service category in 2023 and is projected to show a steady growth over the next eight years. The logging and bottom hole survey segment had a market share of 12.19% in 2023.

Offshore is expected to be the fastest growing segment in the application category over the forecast period with an estimated CAGR of 4.7% from 2024 to 2030. A lot of logistics are required for offshore exploration & production activities. The equipment utilized for offshore drilling operations is also expensive as it has to withstand the pressure & temperature of the water bodies as well as the drilling activity. This factor is anticipated to positively drive the offshore segment growth over the forecast period of 2024 to 2030.

Offshore is expected to be the fastest growing segment in the application category over the forecast period with an estimated CAGR of 5.1% from 2016 to 2025. A lot of logistics are required for offshore exploration & production activities. The equipment utilized for offshore drilling operations is also expensive as it has to withstand the pressure & temperature of the water bodies as well as the drilling activity. This factor is anticipated to positively drive the offshore segment growth over the forecast period of 2017 to 2025.

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Well Intervention Market Report Highlights

• The global well intervention market size was valued at USD 9.30 billion in 2023 and is projected to grow at a CAGR of 3.9% from 2024 to 2030

• Logging and bottom hole survey emerged as the largest service segment in 2023 and is estimated to generate revenue over USD 1.49 billion by 2030

• Stimulation is anticipated to be the fastest growing service segment over the next eight years and is estimated to grow at a CAGR of 3.7%

• The well intervention demand in onshore application was USD 6.40 billion in 2023 and is anticipated to witness steady growth over the next eight years

• Asia Pacific well intervention market is expected to grow at the fastest CAGR of 4.9% over the forecast period, owing to rising energy requirements.

Well Intervention Market Segmentation

Grand View Research has segmented the global well intervention market report based on service, intervention type, application, and region:

Well Intervention Service Outlook (Revenue, USD Million, 2018 - 2030)

• Logging And Bottomhole Survey

• Tubing / Packer Failure and Repair

• Stimulation

• Remedial Cementing

• Zonal Isolation

• Sand Control

• Artificial Lift

• Fishing

• Re-Perforation

• Others

Well Intervention Intervention Type Outlook (Revenue, USD Million, 2018 - 2030)

• Light Intervention

• Medium Intervention

• Heavy Intervention

Well Intervention Application Outlook (Revenue, USD Million, 2018 - 2030)

• Onshore

• Offshore

Well Intervention Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Norway

  • Russia

  • France

  • Netherlands

• Asia Pacific

  • China

  • India

  • Australia

  • Malaysia

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Well Intervention Market

• SLB

• Baker Hughes Company

• HALLIBURTON COMPANY

• Weatherford

• NOV.

• Helix Energy

• Oceaneering International, Inc.

• Expro Group

• Hunting PLC

• Archer (Deepwell AS)

• Welltec A/S

• TechnipFMC plc