Global Well Testing Services Market 2020-2024 | North America to Offer Maximum Growth Opportunities for Vendors | Technavio

Technavio has been monitoring the well testing services market and it is poised to grow by USD 1.53 billion during 2020-2024, progressing at a CAGR of almost 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19

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Technavio has announced its latest market research report titled Global Well Testing Services Market 2020-2024 (Graphic: Business Wire)

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the well testing services market. The market growth in 2020 is likely to increase compared to market growth in 2019.

Frequently Asked Questions:

• Based on segmentation by Application, which is the leading segment in the market?
  Onshore.
  
• What are the major trends in the market?
  Growing adoption of IoT by oil and gas industry.
  
• At what rate is the market projected to grow?
  The market is projected to grow at a CAGR of almost 4% during 2020-2024.
  
• Who are the top players in the market?
  Baker Hughes Co., Halliburton Co., MB Petroleum Services LLC, Minerals Technologies Inc., Oil States International Inc., Schlumberger Ltd., SGS SA, TechnipFMC Plc, TETRA Technologies Inc., and Weatherford International Plc are the top players in the market.

• What are the key market drivers and challenges?
  The market is driven by the increase in rig count. However, volatile crude oil prices might hamper growth.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Baker Hughes Co., Halliburton Co., MB Petroleum Services LLC, Minerals Technologies Inc., Oil States International Inc., Schlumberger Ltd., SGS SA, TechnipFMC Plc, TETRA Technologies Inc., and Weatherford International Plc are some of the major market participants. Although the increase in rig count will offer immense growth opportunities, volatile crude oil prices are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this well testing services market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Well Testing Services Market 2020-2024: Segmentation

Well Testing Services Market is segmented as below:

• Application
  • Onshore
  • Offshore
• Geography
  • North America
  • APAC
  • Europe
  • MEA
  • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43970

Well Testing Services Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The well testing services market report covers the following areas:

• Well Testing Services Market Size
• Well Testing Services Market Trends
• Well Testing Services Market Industry Analysis

This study identifies the growing adoption of IoT by oil and gas industry as one of the prime reasons driving the Well Testing Services Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.

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Well Testing Services Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist well testing services market growth during the next five years
• Estimation of the well testing services market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the well testing services market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of well testing services market vendors

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Application

• Market segments
• Comparison by Application
• Onshore - Market size and forecast 2019-2024
• Offshore - Market size and forecast 2019-2024
• Market opportunity by Application

Customer landscape

• Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Baker Hughes Co.
• Halliburton Co.
• MB Petroleum Services LLC
• Minerals Technologies Inc.
• Oil States International Inc.
• Schlumberger Ltd.
• SGS SA
• TechnipFMC Plc
• TETRA Technologies Inc.
• Weatherford International Plc

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201105005863/en/