Sand Control Systems Market Share, Growth & Trends | 2022-27

 

Market Overview:

During the forecast period, the market for sand control systems is anticipated to expand at a CAGR of more than 4%. Around USD 476 billion in upstream oil and gas investments were made globally in 2018, an increase of 6% from the year before. Additionally, Oil & Gas UK estimates that between 2019 and 2035, oil and gas exploration and production companies in Europe will spend about USD 265 billion.

During the forecast period, factors such as rising investments in the upstream oil and gas sectors globally and rising demand for oil and natural gas are anticipated to propel the number of exploration and production activities. This will propel the market for sand control systems. However, crude oil prices were incredibly unstable in 2018, ranging from USD 85 per barrel to USD 50 per barrel by the year’s end. For the upstream industry, this oil price volatility continues to be a growing concern. As a result, the market is anticipated to suffer during the forecast period.

Scope of the Report

The sand control systems market report include:

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