As per the report titled ‘Well Cementing Services Market Share, Size, Trends & Industry Analysis Report, By Process Type; By Application; By Regions, Segment & Forecast, 2019 - 2026’, available with Market Study Report, global well cementing services market is expected to register an appreciable growth rate over 2019-2026, subsequently amassing USD 13.38 billion by the end of the forecast period.
 

As per the report findings, global well cementing services market is gaining considerable traction owing to ongoing discoveries of new oil & gas reserves and increasing number of service providers across the globe.
 

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Notably, well cementing operations are an essential part of well completion process in the oil & gas industry. Their function is cessation of water primarily by sealing lost circulation areas where there is reduced flow in the bore.
 

Elaborating on the factors inhibiting overall well cementing services industry growth, decline in crude oil prices, along with stringent regulations pertaining to cementing processes and its materials are negatively impacting business progression.
 

Based on type, global well cementing services market is categorized into primary cementing and remedial cementing, of which, the latter are is likely to witness an increased demand particularly in low crude price category. Moreover, contracting of multiple new reserves in Brazil, Russia, China, and some parts of Europe is boosting the segmental share.
 

Considering the application spectrum, the industry is split into onshore and offshore. Among these, onshore segment was the largest application sector owing to presence of numerous oil wells in comparison to offshore sites. However, offshore drilling has outpaced onshore segment due to increased drilling date in offshore sites.
 

From a geographical standpoint, Africa well cementing services industry size will gain considerable traction on account of recent discoveries of oil and gas in the region. On the other hand, North America market is expected to grow significantly in the coming years owing to availability of vast shale gas reserves and rising inclination towards sustainable energy production in the U.S.
 

Leading players impacting global well cementing services market dynamics are Baker Hughes, Inc., Trican Well Service Ltd., Calfrac Well Services Ltd., Nabors Industries Ltd., Snajel Energy Services, Gulf Energy LLC, Weatherford International plc, Topco, Tenaris S.A., and Vallourec S.A.