Global Sliding Sleeves Market 2017-2021 – Rise in Unconventional Oil and Gas Resources

October 18, 2017

October 18, 2017 - 12:45 PM EDT

Global Sliding Sleeves Market 2017-2021 - Rise in Unconventional Oil and Gas Resources

DUBLIN, October 18, 2017 /PRNewswire/ --

The "Global Sliding Sleeves Market 2017-2021" report has been added to Research and Markets' offering.

The global sliding sleeves market to grow at a CAGR of 4.40% during the period 2017-2021.

Global Sliding Sleeves market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market. To calculate the market size, the report considers the new installations and exclude spares and aftermarket.

The latest trend gaining momentum in the market is Big data analytics integration with upstream operations. With the decreasing profit margins, owing to the increased production costs and low crude oil prices, the oil and gas industry is focused on managing operational costs to maintain incremental profit margins and cash flow. Artificial lift systems are a way to extend the useful life of a production well without incurring additional costs, but they introduce additional equipment risk and process volatility. Artificial lift optimization is a complex process that involves several resources and substantial operational expenses. Unplanned maintenance can also result in long outages that reduce cash flow.

According to the report, one of the major drivers for this market is Rise in unconventional oil and gas resources. Unconventional oil and gas resources comprise shale gas, coal bed methane, gas hydrates, tight oil, oil sands, and others. These resources are difficult to exploit and costly to produce. Technological advances and operational efficiencies have driven cost reductions, thus spurring the exploitation of unconventional resources. The shale gas boom in the US saw the rise of unconventionally produced natural gas supplies. The huge discoveries of oil sands in Canada have shown the unlimited opportunities for oil exploration. As the energy focus shifts toward natural gas, unconventional resources such as coal bed methane (CBM) and underground coal gasification (UCG) have seen considerable growth.

Further, the report states that one of the major factors hindering the growth of this market is Volatility in crude oil prices. The timeline for crude oil price has witnessed several highs and lows in the recent past. The crude oil price cycle has not exhibited a consistent trend over the past few years. Recently, the crude oil prices crashed from over $100/bbl. in June 2014 to around $50/bbl. in December 2016. This showcases the volatile nature of the global crude oil market. The price of crude oil influences the price of a lot of products derived from it such as gasoline and lubricants, and unanticipated price fluctuations can change the course of the entire market within a short time span. The whole petroleum industry is impacted by the frequent fluctuations in crude oil prices.

Key vendors