A recent report by Allied Market Research titled “Well Intervention Market by Service, Intervention Type, Well Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030” forecasts strong growth in the global well intervention market.
Valued at US$8.7bn in 2020, the market is expected to reach US$15.3bn by 2030, growing at a CAGR of 5.8%
Well intervention involves various operations designed to increase the productivity of oil and gas wells. These services include slickline and wireline interventions, subsea intervention, coiled tubing, hydraulic workover, remedial services, stimulation, and others.
Globally, mature oilfields contribute up to 75% of total oil production, which significantly drives the demand for well intervention services. This demand is expected to rise as operators seek to enhance well productivity and efficiency.
In Europe, countries such as Germany, France, Spain, and Italy have been impacted by the COVID-19 pandemic, which introduced challenges to well intervention activities. Strict safety measures like social distancing and movement restrictions reduced manpower availability and disrupted supply chains, leading to slower operational activity.
Despite these challenges, Europe continues to be an important market due to its mature oilfields and ongoing need for well maintenance and production enhancement.
Key drivers influencing the growth of the well intervention market include:
- The increasing demand for oil and gas products driven by growth in end-use industries like mining, manufacturing, offshore operations, automotive, and construction.
- The need to maximize production from mature oilfields worldwide, including in Europe.
- Implementation of strict environmental regulations that encourage innovation in well intervention techniques.
The report highlights several market segments:
- Service type: Logging and bottomhole surveys held the largest share at 43.1% in 2020, thanks to their flexibility and application during drilling, completion, production, and shut-in phases.
- Intervention type: Light well interventions dominate due to their reduced operational time and cost advantages.
- Well type: Vertical wells lead the market because of their widespread presence and benefits in operational planning and cost efficiency.
- Application: Onshore wells hold the largest market share and are expected to grow significantly, as approximately 70% of the world’s oil and gas production comes from onshore sites, which are easier to operate and bring online faster compared to offshore wells.
Regionally, North America remains the dominant market due to extensive shale oil developments and the presence of key players. However, Europe’s mature fields and regulatory environment make it a critical region for well intervention services.
For a comprehensive insight into the global well intervention market, you can access the full report by Allied Market Research here.
