The global zonal isolation market is anticipated to grow at a favourable CAGR of around 6.6% during the forecast period (2024-2031). Zonal isolation is necessary for efficient production of wells. Zonal isolation plays a vital role in prevention of fluid and gas migration that may leads in the increasing of leakages, drilling time, and cost of construction. Zonal isolation helps in minimizing the losses occur during the drilling process of wells and at the time of extraction of oil and gas. In addition, it protects the casing from corrosion and by rapidly forming a seal helps in preventing blowout. The pattern shift of the exploration and production activities from onshore to offshore and rising in the drilling exertion across the globe drive the growth of zonal isolation market.
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According to the data released by Department for Promotion of Industry and Internal Trade Policy (DPIIT), states that foreign direct investment (FDI) inflows in India’s petroleum natural gas sector was $7.96 billion between April 2000 and June 2021. Moreover, rising demand for oil and gas in India is encourage investment in the field of refinery. Additionally, the government is planning to invest $2.86 billion in the production of natural gas and planning to drill more than 120 exploration wells by 2022. Increasing in more exploration of oil and gas has propelled the growth of zonal isolation market.
Moreover, according to the International Energy Agency (IEA), India’s natural gas consumption increases owing to rising infrastructure and supportive environment policies of the government. The demand is also expected to drive by the sector such as residential, transport and energy. Which uses the oil and natural gas for their activities, hence results in increasing demand of zonal isolation.
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Market Coverage
- Segment Covered-
o By Technology
o By Application
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Archer Solutions ASA, Calfrc Well Services Ltd., Halliburton Energy Services Inc., NOV, Superior Energy Services Inc., Baker Hughes Co, Helix Energy Solutions Inc., and others.
- Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Zonal Isolation Market Report by Segment
By Technology
- Chemical Zonal Isolation
- Mechanical Zonal Isolation
By Application
- Onshore Zonal Isolation
- Offshore Zonal Isolation
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