North America Drilling and Completion Fluids Market Size (2024 - 2029)

The North America drilling and completion fluids market is anticipated to experience significant growth, driven by factors such as lower breakeven prices for operators, high crude oil prices, and the revival of Mexico's oil and gas industry. The market size is influenced by robust onshore drilling activities and the recovery of the offshore sector, although challenges like inadequate pipeline capacity in key shale plays have constrained the demand for completion fluids. The onshore segment holds the largest share, with the United States expected to dominate the market due to its extensive drilling in unconventional plays.

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Market Size of North America Drilling and Completion Fluids Industry

North America drilling and completion fluids market Overview
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 10.08 %
Market Concentration Low

Major Players

North America drilling and completion fluids market Key Players

*Disclaimer: Major Players sorted in no particular order

North America Drilling and Completion Fluids Market Analysis

The market for North America drilling and completion fluids market is expected to grow approximately at a CAGR of 10.08% during the forecast period. Factors such as operators' lower breakeven prices and high crude oil prices, drilling longer lateral wells, and revival of Mexico's oil and gas industry with the liberalization of the industry are driving the market. Moreover, robust drilling in onshore and recovery of the offshore sector in North America region is expected to drive the drilling and completion fluids market. However, inadequate pipeline capacity in the important shale plays in the United States and Canada has resulted in a huge increase in the number of uncompleted wells and has hence restrained the demand for completion fluids.

  • The onshore segment accounted for the largest share in the market in 2018, owing to the onshore oil & gas activities in the United States and Canada.
  • A close proximity to extensive infrastructure coupled with promising results from the deployment of new technology puts Austin Basin in a comparatively stronger position and hence is expected to provide an ample opportunity for the drilling and completion fluids market in the near future.
  • The United States is expected to dominate the market over the forecast period owing to its robust drilling activities in the unconventional plays.

North America Drilling and Completion Fluids Industry Segmentation

The North America drilling and completion fluids market report include:

Fluid Type
Water-Based
Oil-Based
Others
Location
Onshore
Offshore
Geography
United States
Canada
Rest of North America
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North America Drilling and Completion Fluids Market Size Summary

The North America drilling and completion fluids market is poised for significant growth, driven by factors such as lower breakeven prices for operators, high crude oil prices, and the revival of Mexico's oil and gas industry. The market is further bolstered by robust onshore drilling activities and a recovery in the offshore sector. However, challenges such as inadequate pipeline capacity in key shale plays in the United States and Canada have led to an increase in uncompleted wells, which has restrained the demand for completion fluids. The onshore segment has historically accounted for the largest market share, supported by extensive infrastructure and promising technological advancements, particularly in the Austin Basin. The United States is expected to maintain its dominance in the market, fueled by substantial drilling activities in unconventional plays and a significant increase in the average onshore active rig count.

The market landscape is characterized by a fragmented structure with key players including Schlumberger Limited, Baker Hughes Co., Halliburton Company, and National-Oilwell Varco Inc. The shift towards shale reserves has been a notable trend, with tight oil and dry gas from shale reserves making up a significant portion of the country's production. The increasing share of horizontal wells and the need for a larger number of wells per acre in shale oil and gas production are expected to drive the demand for drilling and completion fluids. As upstream activities continue to rise, the demand for oil field services is also expected to increase, providing opportunities for service companies to expand their presence in the market. The completion of uncompleted wells in the coming years is anticipated to further enhance opportunities for completion fluid providers.

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North America Drilling and Completion Fluids Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 1.3 Onshore and Offshore Active Rig Count, by Country, North America, till 2019

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

      2. 1.6.2 Restraints

    7. 1.7 Supply Chain Analysis

    8. 1.8 Porter's Five Forces Analysis

      1. 1.8.1 Bargaining Power of Suppliers

      2. 1.8.2 Bargaining Power of Consumers

      3. 1.8.3 Threat of New Entrants

      4. 1.8.4 Threat of Substitutes Products and Services

      5. 1.8.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Fluid Type

      1. 2.1.1 Water-Based

      2. 2.1.2 Oil-Based

      3. 2.1.3 Others

    2. 2.2 Location

      1. 2.2.1 Onshore

      2. 2.2.2 Offshore

    3. 2.3 Geography

      1. 2.3.1 United States

      2. 2.3.2 Canada

      3. 2.3.3 Rest of North America

North America Drilling and Completion Fluids Market Size FAQs

The North America Drilling and Completion Fluids Market is projected to register a CAGR of 10.08% during the forecast period (2024-2029)

Schlumberger Limited, Baker Hughes - A GE Company, Halliburton Company, National-Oilwell Varco Inc. and CES Energy Solutions Corp are the major companies operating in the North America Drilling and Completion Fluids Market.

North America Drilling and Completion Fluids Market Report Snapshots

North America Drilling and Completion Fluids Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)