Dublin, Feb. 13, 2026 (GLOBE NEWSWIRE) — The “Well Completion Equipment and Services Market Report 2026” has been added to ResearchAndMarkets.com’s offering.
The well completion equipment and services market has witnessed significant growth in recent years, thanks largely to advancements in the oil and gas sector. In 2025, the market size is expected to grow from $11.18 billion to $11.99 billion by 2026, reflecting a compound annual growth rate (CAGR) of 7.2%. Key drivers include onshore oil and gas development, offshore drilling expansion, and the increasing demand for enhanced recovery technologies. The industry’s growth has been fueled by the need for technological advancements in completions, coupled with a rise in global energy consumption.
Forward-looking projections suggest that the market is poised for continued expansion, reaching an anticipated value of $15.83 billion by 2030, maintaining a CAGR of 7.2%. During this period, the focus is expected to shift toward deepwater exploration, unconventional resource development, and the automation of well operations. Production cost optimization and the adoption of digital oilfields are set to play crucial roles. Noteworthy trends include the rise of smart well completion systems, advanced sand control technologies, multistage fracturing optimization, and digital downhole monitoring solutions to enhance production efficiency.
The surge in global oil and gas exploration demand is a primary catalyst driving market expansion. With an increasing reliance on sophisticated well-completion equipment, the industry is tasked with extracting resources under challenging conditions to satisfy global energy needs. The US Energy Information Administration reports that US crude oil output reached 12.4 million b/d in 2023, a significant increase from 11.7 million b/d in 2022. Furthermore, the US recorded its highest annual natural gas consumption of 86.6 billion cubic feet per day in 2022, indicating heightened demand, which directly influences market growth.
Leading companies in the market are pioneering advanced digital control systems to optimize plunger lift well operations, improve crude oil production efficiency, and facilitate real-time monitoring. These systems integrate AI, IoT, and wireless technologies to enhance operational capabilities. For example, ChampionX Corporation recently launched the SMARTEN Unify control system, designed for seamless integration with existing IT and SCADA infrastructures, offering cost-effective solutions for tighter-margin operations.
In recent developments, Nabors Industries Ltd. acquired Parker Wellbore for $675 million in March 2025. This strategic move aims to expand Nabors’ global well construction and intervention capabilities, diversifying their service offerings and reinforcing their position as a comprehensive well delivery provider.
North America emerged as the largest market region in 2025, with other key regions including Asia-Pacific, Western and Eastern Europe, South America, the Middle East, and Africa. Major industry players include Halliburton, Schlumberger Limited, and Baker Hughes Company, among others. The well casing and cementing market alone encompasses revenues from services such as casing, cementing, and gravel packing, highlighting the industry’s extensive value chain and economic significance.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2026 – 2030 |
| Estimated Market Value (USD) in 2026 | $11.99 Billion |
| Forecasted Market Value (USD) by 2030 | $15.83 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
Key Technologies & Future Trends
- Digitalization, Cloud, Big Data & Cybersecurity
- Industry 4.0 & Intelligent Manufacturing
- Autonomous Systems, Robotics & Smart Mobility
- Internet of Things (IoT), Smart Infrastructure & Connected Ecosystems
- Sustainability, Climate Tech & Circular Economy
- Smart Well Completion Systems
- Advanced Sand Control Technologies
- Multistage Fracturing Optimization
- Digital Downhole Monitoring
- Enhanced Production Efficiency Solutions
Companies Featured
- Halliburton Company
- NOV Inc.
- Schlumberger Limited
- Weatherford International PLC
- Welltec Inc.
- NCS Multistage Holdings Inc.
- RPC Inc.
- Superior Energy Services Inc.
- Axis Energy Services Inc.
- Tycrop Group
- Hilong Oil Service & Engineering Co. Ltd.
- Precision Drilling Corporation
- Forum Energy Technologies Inc.
- Wellcare Oil Tools Private Limited
- FTS International
- Baker Hughes Company
- Rasson Energy India Pvt. Ltd.
- Propell
- Nine Energy Service
- SPT Energy Group
- Sinopec Oilfield Service
- National Oilwell Varco
- Nabors Industries
- TechnipFMC
- Expro Group
- Hunting Energy Services
For more information about this report visit https://www.researchandmarkets.com/r/nemkej
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- Well Completion Equipment and Services Market
