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Well Intervention Market worth USD 10.64 Billion at 6.1% CAGR; Increasing Number of Oil & Gas Discoveries to Drive Growth in North America

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Pune, India, Dec. 23, 2021 (GLOBE NEWSWIRE) — The global well intervention market is set to gain traction from the increasing demand for energy and the rising investments in the subsea oil & gas industry. This information is published by Fortune Business Insights™ in a new report, titled, “Well Intervention Market Size, Share & COVID-19 Impact Analysis, By Type (Light Intervention, Medium Intervention, and Heavy Intervention), By Service (Logging & Bottom Hole Survey, Tubing/Packer Failure & Repair, Stimulation, Remedial Cementing, Zonal Isolation, Sand Control, Artificial Lift, Fishing, Reperforation, Others), By Application (Onshore and Offshore), and Regional Forecasts, 2020-2027.” The report further states that the well intervention market size was USD 8.43 billion in 2019 and is projected to reach USD 10.64 billion by 2027, exhibiting a CAGR of 6.1% during the forecast period.

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A list of all the well intervention providers operating in the global market:

  • Schlumberger (Texas, US)
  • Baker Hughes (Texas, US)
  • Halliburton (Texas, US)
  • Weatherford (Texas, US)
  • National Oilwell Varco (Texas, US)
  • HELIX ESG (Texas, US)
  • Oceaneering International, Inc. (Texas, US)
  • Expro Group (Reading, United Kingdom)
  • Hunting Energy Services (Texas, US)
  • Deepwell AS (Avaldsnes, Norway)
  • Welltec (Allerød Municipality, Denmark)
  • TechnipFMC (London, United Kingdom)
  • C&J Energy Services, Inc. (Texas, US)
  • Superior Energy Services, Inc. (Texas, US)
  • Altus Intervention (Stavanger, Rogaland)

Report Scope & Segmentation –

Report Coverage Details
Forecast Period 2020-2027
Forecast Period 2020 to 2027 CAGR 6.1 %
2027 Value Projection USD 10.64 Billion
Base Year 2018
Market Size in 2019 USD 8.43 Billion
Historical Data for 2015-2017
No. of Pages 120
Segments covered Service; Application; Regional
Growth Drivers Increasing Discoveries in Oil & Gas Industry to Boost Growth.
Surging Initiatives to Increase Production from Aging Wells will Propel Growth.
 

Pitfalls & Challenges

Increasing Focus on Renewable Energy & Stringent Regulations for Protecting Environment to Hamper Growth

COVID-19: Shutdown of Oil & Gas Companies Worldwide May Hinder Growth

The COVID-19 pandemic has compelled several oil & gas companies to shut down their manufacturing facilities owing to the complete lockdown and social distancing measures. At the same time, the pandemic has created the Russia/Saudi price war. It has made it more difficult for companies to establish a flexible business model. Our skilled analysts have developed an elaborate report to help you better understand the current scenario of the market. They have implemented certain vital methodologies to develop the best strategies for surging sales of well intervention systems.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/well-intervention-market-100070

What Does This Report Contain?

  • Elaborate data about the segments in the market.
  • Historical, present, and estimated sizes of the market.
  • Profiles of prominent players and their crucial strategies.
  • In-depth analysis of the growth drivers, dynamics, and hindrances.

Drivers & Restraints-

Rising Number of Oil & Gas Discoveries to Augment Growth

The number of oil & gas discoveries in oilfield reserves is increasing day by day. Coupled with this, the ongoing technological advancements to boost production outputs from oil wells would contribute to the well intervention market growth in the coming years. As per our estimation, oil prices may surge significantly in the near future. This would aid independent exploration & gas production companies to invest hefty amounts in oil & gas exploration activities. However, nowadays, companies are shifting towards renewable energy sources for generating power. This factor may obstruct the demand for well intervention systems.

Segment-

Light Intervention Segment to Hold Largest Share Backed by Cost-effectiveness

Based on type, the light intervention segment earned 59.9% in terms of well intervention market share in 2019. This growth is attributable to its cost-effective nature. It is likely to hold the largest share throughout the forthcoming years.

Regional Analysis-

Increasing Number of Aging Wells to Favor Growth in Asia Pacific

Geographically, in 2019, North America procured USD 3.24 billion in terms of revenue. The huge potential for exploring oilfields, as well as the increasing number of oil & gas discoveries in the region would propel growth. In April 2019, for instance, Shell successfully discovered oil at the Blacktip prospect. It is located in the deepwater of the U.S. Gulf of Mexico.

Asia Pacific, on the other hand, is set to hold the second-largest share stoked by the increasing capital expenditure (CAPEX) by various countries to secure the rising energy demand in future. Also, the surging number of old wells is set to boost the demand for well intervention systems in the region.

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Competitive Landscape-

Key Players Focus on Gaining New Orders to Compete in Market

The market is fragmented with the presence of numerous organizations operating across the globe. Most of them are trying to gain a competitive edge by obtaining new orders for delivering prominent firms their in-house well-intervention systems. Below are two latest industry developments:

  • February 2020: Oceaneering International, Inc. bagged a new contract from BP p.l.c. to deliver riserless light well intervention (RLWI) services in Blocks 18 & 31, Angola. These would support a multi-well campaign designed to include tree change-outs, well stimulations, and mechanical well interventions.   
  • July 2019: TIOS awarded a new contract to Altus Intervention AS. It would enable the latter to offer wireline services across three light well intervention vessels, namely, Island Wellserver, Island Frontier, and Island Constructor.

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Table Of Content

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Emerging Trends – For Major Countries
    • Latest Technological Advancement
    • Regulatory Landscape
    • Industry SWOT Analysis
    • Porters Five Forces Analysis
  • Qualitative Analysis – Impact of COVID-19
    • Impact of COVID-19 on the Well Intervention Market
    • Steps Taken by the Government to Overcome the Impact
    • Key Developments by Industry Players in Response to COVID-19
    • Potential Opportunities and Challenges due to COVID-19 Outbreak
  • Global Well Intervention Market Analysis (USD Billion), Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Type
      • Light Intervention
      • Medium Intervention
      • Heavy Intervention
    • Market Analysis, Insights and Forecast – By Application
      • Onshore
      • Offshore
    • Market Analysis, Insights and Forecast – By Service
      • Logging & Bottom Hole Survey
      • Tubing/Packer Failure & Repair
      • Stimulation
      • Remedial Cementing
      • Zonal Isolation
      • Sand Control
      • Artificial Lift
      • Fishing
      • Re-Perforation
      • Others
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Latin America
      • Europe
      • Asia Pacific
      • Middle East and Africa
  • North America Well Intervention Market Analysis (USD Billion), Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Type
      • Light Intervention
      • Medium Intervention
      • Heavy Intervention

TOC Continued…!

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Carbon Capture and Sequestration Market Size, Share & COVID-19 Impact Analysis, By End-Use (Enhanced Oil Recovery {EOR} and Dedicated Storage & Treatment), By Capture Source (Chemicals, Natural Gas Processing, Power Generation, Fertilizers Production, and Others), and Regional Forecast, 2021-2028

Saudi Arabia Offshore Support Vessel (OSV) Market Size, Share & COVID-19 Impact Analysis, By Vessel Type (Anchor Handling Tug Supply Vessel (AHTS), Platform Supply Vessel (PSV), Crew Vessel, Tug Boats, and Others), By Water Depth (Shallow Water, Deep Water, and Ultra-Deep Water), By Application (Oil & Gas, Offshore Wind, Offshore Desalination Plant, Patrolling, Research & Surveying, and Others), and National Forecast, 2021-2028

Russia Oilfield Services Market Size, Share & COVID-19 Impact Analysis, By Type (Equipment Rental, Field Operations, Analytical Services), By Services (Geophysical, Drilling, Completion, and Workover, Production, Processing, and Separation), By Application (Onshore, Offshore), and Russia Forecast, 2021-2028

Drilling Fluids Market Size, Share & COVID-19 Impact Analysis, By Type (Water-based, Oil-based, Synthetic-based and Others), By Application (Onshore and Offshore), and Regional Forecast, 2021-2028

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About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

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Pune-Bangalore Highway,

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Artificial Intelligence

Automotive Digital Cockpit Domain Controller Power Expected to Double by 2030

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NEW YORK, March 28, 2024 /PRNewswire/ — The lengthening lifecycle of vehicles is driving automotive Original Equipment Manufacturers (OEMs) to plan several years of customer support through regular Over-the-Air (OTA) updates. Achieving this requires a digital Cockpit Domain Controller (CDC) with an architecture that supports long-term updating and maintenance. According to a new report from global technology intelligence firm ABI Research, the computing power of the CDC will increase significantly over the next few years, with graphical computing power and deep-learning processing power (for AI-powered functions) expected to double by 2030 for an average mid-market CDC.

OEMs are beginning to plan for several years of support, both in software patches and bug fixes, and for delivering new added value features to the driving experience. “This support and feature roadmap requires a hardware and software architecture that supports the continuous updating of vehicles over time. OEMs need a system that accommodates quick, targeted updates by shipping vehicles with planned overhead in computing power, software containerization, and robust hypervisors. These can be accommodated by silicon vendors such as NVIDIA or Qualcomm with their suite of high-powered System-on-Chips (SoCs), along with hypervisor and software specialists such as Blackberry QNX. The ecosystem hasn’t fully adjusted to OTA updates in mixed-criticality systems like the digital cockpit domain controller yet, with most OEMs speculating about the level of computing power that is needed for several years of support and few going to their silicon and tier-one partners with roadmaps of planned features,” explains Abu Miah, Smart Mobility and Automotive Analyst at ABI Research.
The computing power of the CDC will increase significantly over time. The Tera Floating-Point Operations per Second (TFLOPS) of an average mid-market CDC is expected to rise from 1 TFLOPS in 2023 to 2.5 TFLOPS by 2030. Miah adds, “One of the primary drivers of this increase is the implementation of a larger number of higher resolution screens in the vehicle to accommodate new high-end gaming and video-on-demand features.”
Building a ‘future-proofed’ CDC is not as simple as throwing compute power at the vehicle. “OEMs, tier ones, and silicon vendors must all work toward an ecosystem of hardware and software agnosticism, modular architecture, and collaborative software development if they are to match customers’ expectations of updates, patches, and bug fixes from the consumer electronics space,” Miah concludes.
These findings are from ABI Research’s Future-Proofing Digital Cockpit Domain Controllers application analysis report. This report is part of the company’s Smart Mobility and Automotive research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Application Analysis reports present an in-depth analysis of key market trends and factors for a specific technology.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info: 
GlobalDeborah Petrara Tel: +1.516.624.2558 [email protected] 
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ACL Digital in Collaboration with AWS and Infineon to Participate at Embedded World 2024

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SAN JOSE, Calif., March 28, 2024  /PRNewswire/ — ACL Digital, an ALTEN group company, is a pioneer in design-led digital experience, innovation, enterprise IT modernization, and product engineering services, announced that ACL Digital, in collaboration with AWS and Infineon, is going to showcase its AWS IoT & Cloud capabilities at Embedded World 2024, Hall 4 (Booth #4-552) from April 9 to April 11 in Nuremberg, Germany.

ACL Digital, a top-tier AWS Services partner, propels organizations of all sizes to navigate digital transformation to accelerate time-to-market. The company provides comprehensive support, from adopting to modernizing IT infrastructure on AWS. By leveraging expertise in architecture, security, migration, and operations, ACL Digital unlocks the full potential of AWS, streamlining IoT and cloud journeys and fast-tracking business growth and innovation.
The AWS Advanced Tier partnership enables ACL Digital to leverage AWS expertise, its robust support ecosystem and best practices to deliver customer delight.
ACL Digital offers visitors at Embedded World 2024 a chance to experience the exclusive demo of a Smart Stove Solution, built by leveraging the AWS Cloud and Infineon platform and how it has added value to our customers.
With over 100 AWS-certified experts, ACL Digital empowers clients to achieve breakthrough results in their digital transformation. Also, the leading digital transformation company supports global clients in navigating the complexities of cloud implementation, migration and digital transformation with ease and helping them unlock new growth opportunities.
About AWS
Since 2006, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud. AWS has been continually expanding its services to support virtually any workload, and it now has more than 240 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, media, and application development, deployment, and management from 105 Availability Zones within 33 geographic regions, with announced plans for 12 more Availability Zones and four more AWS Regions in Malaysia, New Zealand, Thailand, and the AWS European Sovereign Cloud. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit https://aws.amazon.com .
About Infineon
Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 58,600 employees worldwide and generated revenue of about €16.3 billion in the 2023 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY). To learn more about Infineon, visit https://www.infineon.com/
About ACL Digital
ACL Digital an ALTEN Group Company, is a digital product innovation and engineering leader. We help our clients design and build innovative products (AI, Cloud, and Mobile ready), content and commerce-driven platforms, and connected, converged digital experiences for the modern world through a design-led Digital Transformation framework.
Headquartered in Silicon Valley, ACL Digital is a leader in design-led digital experience, innovation, enterprise modernization, and product engineering services converging to Technology, Media & Telecom. The company has a workforce of 57,000+ spread across more than 30+ countries.

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Gilbarco Veeder-Root champions fuel efficiency, clean fuels and diesel rebate solutions in mining

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JOHANNESBURG, March 28, 2024 /PRNewswire/ — Global leader in technology solutions OEM Gilbarco Veeder-Root (GVR) is dedicated to enhancing operational performance by delivering comprehensive end-to-end wetstock, industrial, mining, and business-to-business solutions, all tailored to meet the specific needs of the customer.

 
 
By encompassing every aspect of mining operations, GVR commercial and industrial Middle East and Africa director Westtar Kapito says, “the company is setting new benchmarks for fuel efficiency, safety and sustainability within the mining industry”.
As part of a holistic approach to mining excellence, Kapito explains that Gilbarco’s integrated fuel and fleet management technology solutions are designed to address the multifaceted challenges of the mining industry.
Some of these facets include wetstock control, equipment maintenance and management, fleet management and automation, compliance monitoring and environmental sustainability, as well as driving productivity and profitability through innovation.
In addition, the introduction of Gilbarco’s clean fuel solution exemplifies the company’s commitment to maintaining equipment integrity and performance.
This technology, GVR says, monitors in real-time the status of up to 16 “clean fuels” key performance matrices, thereby ensuring that dirty fuel is flagged and not transferred into mining equipment which would affect engines and injectors and thus lower productivity.
Gilbarco’s comprehensive site automation solutions empower mining companies with critical data analytic insights, facilitating efficient monitoring and management of fleet and fuel inventory. Gilbarco’s dataFLEX360 platform plays a pivotal role, offering near real-time reporting and analytics to drive informed decision-making and operational agility.
dataFLEX360 is a Web-based, cloud-hosted strategic operational insights platform. The system ensures accurate, reliable and relevant reporting of all fuel, fleet and asset transactions, and provides for proactive corrective measures to reduce complex reporting and gives a consolidated and comprehensive view across all sites and assets.
With reconciliations at its core, dataFLEX360 provides solution accuracy on operational data.
Integral to the company’s solutions is compliance with Global Industry Standards and environmental stewardship, from leak detection to vapour recovery and clean fuel technologies. Gilbarco’s products are designed to ensure compliance and minimise the carbon footprint of mining operations.
Additionally, through the company’s innovative telematics technology and the data generated, it can systematically and seamlessly generate South African Revenue Services- (SARS-) compliant fuel rebate reports for any selected tax period.  
GVR’s technology provides a full audit trail required for eligibility for SARS rebates, and its reporting platform simplifies logbook and data gathering required, enabling successful rebate claims and return on investment.
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