USD 749.6 million
Report ID: SQSG15F2010 | Region: Global | Published Date: April, 2023 | Pages: 266 | Tables: 68 | Figures: 65
Sand Screening Machines Market Size was valued at USD 749.6 million in 2021, and it is expected to reach a value of USD 1159.52 million by 2028, at a CAGR of 6.43% over the forecast period (2022-2028).
Globally, the cost of gas and oil is rising steadily. This is one of the main elements influencing the market for sand screens. In the oil and gas business, sand screens are crucial to the sand screening process. Sand screens are becoming more and more in demand as a result of the current uptick in onshore and offshore exploration activity. The market for sand screens is growing as a result. The COVID-19 pandemic had a negative effect on the market in 2021 since construction stopped everywhere in the world. Due to rising trade tensions with China, one of the market's major countries, the market is predicted to be volatile over the coming years. The supply chain has been disrupted by the industrial slowdown brought on by the COVID 19 epidemic. The full-scale activities of market players are expected to be hampered by a disruption in the supply of raw materials.
In the oil and gas business, sand control screens are inserted in underground drills to enable the flow of oil and gases while preventing the entry of sand and other tiny particles. This is done for deep underground operations or shale gas production. The production or intrusion of sand poses a significant difficulty to oil and gas producers during well drilling and completion. Drilling operations add to the tensions already present on the earth's surface, causing rocks to crumble and sand particles to develop. These sand fragments can cause erosion in the drilling and production equipment, down-hole cavities, and tube blockages. The production process might be badly affected by this. In certain rare circumstances, sand buildup can seriously damage down-hole machinery and possibly result in blowouts. During drilling operations, sudden, dramatic variations in tension and pressure can potentially cause the casing to collapse. Making sure that natural gas and crude oil are produced without sand is crucial for avoiding this. For the well to function properly and to maintain its production, sand control screens are essential for filtering out sand particles. Sand control screens are expected to expand in popularity due to the global oil and gas industry's continued expansion.
US Sand Screening Machines Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 749.6 million
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The global Sand Screening Machines market is segmented based on Application, Technology, and region. Based on Technology the sand screening machines market is further sub-segmented into gravel pack, frac pack, sand screens, and inflow control devices. According to the Application, the sand screening machines market is segregated into onshore and offshore segments. Based on Region, the market is further sub segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
Sand Screening Machines Market Analysis by Application
Based on application, the sand control equipment market can be divided into onshore and offshore segments. The onshore application category is anticipated to have the highest revenue market share. This stronghold can be ascribed to a number of things, including the decreasing drilling costs for onshore applications, the abundance of onshore sites, and the growing reliance on conventional oil and gas, among other things. However, during the anticipated period, the market for offshore applications is anticipated to expand rapidly. This expansion can be ascribed to an increase in offshore activities for cementing, well completion, and oil and gas production. Offshore energy production is a significant part of the world's supply of natural gas and oil and might be a significant source of renewable electricity. Sand control equipment's CAGR is anticipated to rise over the course of the projection period as offshore oil and gas operations expand, particularly in the Middle East, Brazil, the North Sea, the Gulf of Mexico, and the Caspian Sea.
Sand Screening Machines Market Analysis Based on Technology
According to technology, the sand control equipment market may be divided into gravel pack, frac pack, sand screens, and inflow control devices. Due to increased drilling of conventional oil & gas fields in onshore regions all over the world, the gravel pack segment is anticipated to hold the biggest market share during the forecast period. The second-largest market share is held by the frac pack system approach, followed by the sand screen technique. In onshore arenas, sand control equipment is commonly used. However, throughout the projection period, the inflow control devices sector is anticipated to grow at the greatest CAGR. Among the key factors boosting the growth of the inflow control devices sector in the sand control equipment market are decreased costs and longer product lifespans.
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Asia Pacific will dominate the world sand screening machines market. This might be attributed to the region's ongoing increase in construction activity as well as investments made by significant regional businesses to boost their production capacity. Additionally, the majority of the significant competitors in the sand screen industry are concentrated in this area. The Asia Pacific sand screen market is thus being driven by the increase in construction activities in developed nations like Japan and Korea as well as rising economies like India, Malaysia, and Indonesia. Latin America and the Middle East & Africa are two more major markets for sand screening equipment. Sand screen demand is increasing throughout the Middle East, Africa, and Latin America due to the presence of capital-intensive businesses and cheap labour costs in these regions. On the other hand, the sand screening machines market in North America and Europe is growing steadily. Additionally, businesses in the sand screen industry are moving their manufacturing operations to emerging markets. Therefore, in the upcoming years, these areas are anticipated to show only minor volatility.
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Sand Screening Machines Market Driver
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The top sand screening machines market participants have a wide geographic reach and a wide range of products to meet a variety of consumer wants. Industry players are spending a lot of money on R&D in order to introduce new equipment and increase their profitability in this potential market.
Sand Screening Machines Market Top Player’s Company Profiles
Sand Screening Machines Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the Increasing onshore application dominated the global Sand Screening Machines Market in 2021 and is expected to maintain its dominance throughout the forecast period. In 2021, the Asia Pacific dominated the global Sand Screening Machines Market owing to the region's increase in online stores and government spending on construction.
|Market size value in 2021||USD 749.6 million|
|Market size value in 2028||USD 1159.52 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Sand Screening Machines Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Sand Screening Machines Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG15F2010