Recovery in Oil & Gas Industry Propelling Need for Well Cementing Services With the surging oil & gas exploration and production (E&P) activities, especially in unconventional reserves, owing to the recovery in the oil and gas industry, the demand for well cementing is soaring globally. This is because well cementing is a critical application area in the overall well completion process. Across the globe, the number of well completions is rising, due to the increasing E&P activities in both conventional and unconventional oil & gas reserves. Moreover, in countries, such as China, Russia, Brazil, and the U.S., the investments being made in E&P projects are surging sharply, which is further boosting the requirement for well operations. Apart from this factor, the presence of several large offshore and onshore oil and gas reserves in the Arctic region is also creating lucrative growth opportunities for the players operating in the well cementing market. As per the United States Geological Survey (USGS), the Arctic region contains nearly 1,669 trillion cubic feet of gas, 44.0 billion barrels of undiscovered natural gas liquid, and 90.0 billion barrels of undiscovered oil. Currently, Canada, the U.S., Russia, Iceland, Denmark, and Norway are heavily focusing on accessing the Arctic Ocean and conducting drilling activities in the region. Because of these factors, the value of the well cementing market is predicted to rise from $7,577.6 million in 2018 to $10,065.4 million by 2024 and the market is expected to demonstrate a CAGR of 4.7% from 2019 to 2024 (forecast period). Depending on service type, the well cementing market is divided into remedial, primary, and other services, such as advanced cementing. Read more: https://www.psmarketresearch.com/market-analysis/well-cementing-services-market