Cuttings re-injection services Market to Hit $259.7 Million by 2030, at a CAGR of 3.6% 

Cuttings re-injection services Market

According to a new report published by Allied Market Research titled, “Cuttings Re-Injection Services Market by Type, Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The cuttings re-injection services market was valued at $180.6 million in 2020, and is projected to reach $259.7 million by 2030, growing at a CAGR of 3.6% from 2021 to 2030.

Factors propelling the cutting re-injection services market growth are its advantages such as its potential to discard other wastes that would have to be taken to shore for disposal, allowing utilization of less expensive drilling fluid, no need of offshore transportation, cuttings can be injected if pre-treated, less chances of ground and surface water contamination, and removal of seafloor effect. However, some of the disadvantages hindering the market growth are increase in air pollution because of large power needs, rise in requirement of large equipment and labors, and others.

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The cuttings re-injection services market is segmented into type and application. Based on the type the market is categorized into dedicate injection and annular injection. On the basis of application, the market is bifurcated into on-shore and off-shore. Region-wise, the cutting re-injection services market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The cutting re-injection services market share is analyzed for all segment and countries.

On the basis of type, the annular injection segment garnered 83.4% share in 2020. Based on the application, the onshore segment is expected to grow at CAGR of 1.6% during the forecast period. CRI process is common to both onshore and offshore operations. But the CRI process is easily manageable on onshore site because of the availability of space.

On the basis of region, the Asia-Pacific is expected grow at a CAGR of 4.8% during the forecast period. China has strong presence in South China Sea. Chinese oil & gas companies have come across with gas fields with reserves of around 300 billion tons along with oil fields reserves of around 200 million tons of oil.

Based on the region, Europe garnered market share of 26.6% and expected to grow at a CAGR of 2.8% during the forecast period. The UK government has announced to drill oil & gas wells in the North Sea. The government has granted permission to drill well as a part of a cautious transformation away from fossil fuels, and protect jobs and the economy.

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Some of the key players operating in the cuttings re-injection services industry are Baker Hughes Company, NOV Inc., Advantek, Augean PLC, GN Solid Control, Haliburton, Schlumberger, PPLI, Weatherford, and Terralog Technologies.

Key findings of the study

The report outlines the current cuttings re-injection services market trends and future scenario of the cuttings re-injection services market from 2021 to 2030 to understand the prevailing opportunities and potential investment pockets.
The cuttings re-injection services market size is provided in terms of revenue.
On the basis of type, the dedicated injection; segment gained 16.6% share in 2020 in terms of revenue.
On the basis of application, off-shore segment garnered market share of 81.1% in 2020 in terms of revenue.
On the basis of region, the North America region garnered market share of 19.8% in 2020 in terms of revenue.

Impact of COVID-19 on the cuttings re-injection services market

The spread of COVID-19 in numerous countries halted the industrial activities.
This resulted into oversupply scenario in oil and gas sector.
This consequently resulted into decreased drilling activities.
The decrease in drilling activities resulted in decreased demand for oilfield services such as waste management.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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