Well Testing Service Market to Record CAGR of 6.47% Over 2025-2032; Surge in Offshore Exploration and Production Activities to Fuel Global Market Growth

The global well testing service market size was valued at USD 7.61 billion in 2024 and is predicted to reach USD 8.24 billion in 2025. The market is anticipated to touch USD 12.79 billion by 2032, recording a CAGR of 6.47% over 2025-2032.

Fortune Business Insights™ presents this information in its latest report titled “Well Testing Service Market Size, Share & Industry Analysis, By Service (Real Time Testing, Downhole Testing, Reservoir Sampling, Surface Well Testing, and Others), By Application (Onshore and Offshore), and Regional Forecast, 2025-2032”.

Well testing services refer to the process of gathering data to enhance the comprehension of reservoir characteristics and fluid properties. The rising global energy demand and an uptick in E&P expenditure are major factors propelling market growth. The demand for well-testing services is increasing because of the escalating global energy needs, a rise in oil and gas exploration efforts, and advancements in digital monitoring technologies.

The COVID-19 pandemic had a profound effect on the worldwide oil and gas sector, causing unparalleled travel and work limitations that led to a decrease of billions of barrels of oil, trillions of cubic meters of gas, and millions of tonnes of coal in 2020. This decline prompted a reduction in investments within the industry, which adversely impacted the global market for well-testing services.

Expro Obtained Corporate Framework Agreement to Offer Well Testing Services for Equinor in the NCS

In November 2024, Expro obtained a corporate framework agreement to offer well testing services for Equinor in the Norwegian Continental Shelf (NCS). This contract streamlines well testing activities across the Barents, Norwegian, and North Seas under a single service provider. The local team in Stavanger will manage operations, with additional assistance from its Fluids Center of Excellence located in Haugesund. The agreement lasts for four years, with options for three two-year renewals, continuing Expro's longstanding partnership with Equinor.

Surge in Offshore Exploration and Production Activities to Fuel Global Market Growth

The increasing population and industrial advancements are driving the worldwide need for energy. In 2023, global fuel usage saw an uptick. This surge in fossil fuel demand is leading companies to boost their fuel output. As easier-to-reach oil reserves run out, oil and gas companies are exploring new locations, including more isolated and deeper offshore sites. Consequently, there is a high demand for well testing services in deep-water exploration and production activities. Therefore, the growth in offshore exploration and production activities is anticipated to fuel the global well testing service market growth.

However, the volatile oil and gas prices present a significant hurdle for the well testing services market by introducing unpredictability in investment and operational strategies.

Key Players to Adopt Various Strategies such as Mergers and Acquisitions to Strengthen Their Market Presence

The global market for well testing service is consolidated due to the robust product offerings and impressive global networks of key players in both developed and emerging nations. In 2024, Slb, Weatherford, and Halliburton Inc. are at the forefront of the market, commanding a significant share. These companies are increasing their presence by implementing strategies such as mergers and acquisitions while also concentrating on securing new contracts.

Notable Industry Development

• September 2024: The LSU College of Engineering collaborated with Halliburton, ExxonMobil, Shell, Chevron, and H&P to drill a third research well at its PERTT Lab in early 2025. This distinctive well will enable the examination of CO2 in all three phases under real-world conditions, with an emphasis on safety technologies, CO2 flow behaviors, and model validation. The well will not be operational and will be exclusively used for research purposes.

List of the Companies Profiled in the Report:

• Slb (U.S.)
• Halliburton Inc. (U.S.)
• Weatherford   (U.S.)
• Expro Group (U.K)
• TechnipFMC plc (U.K)
• Baker Hughes (U.S.)
• SGS SA (Switzerland)
• China Oilfield Services Limited (COSL) (China)
• Oil States International, Inc.  (U.S.)
• TETRA Technologies, Inc. (U.S.)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/well-testing-service-market-100157

Further Report Findings

• North America is expected to lead the global market in the near future. The increasing initiatives to find additional oil and gas wells for sustainability are likely to propel market growth in the coming years. The U.S. market is fueled by extensive onshore drilling operations, particularly in shale formations such as the Permian Basin, Eagle Ford, and Bakken.
• The Asia Pacific region is anticipated to account for the second-largest well testing service market share in 2024 and is predicted to experience the fastest growth in the coming future. This region imports more energy than it produces and is the fastest-growing consumer of crude oil and natural gas. As a result, costs for crude oil imports are rising significantly.
• In terms of service, the real-time testing segment accounted for a major portion of the market in 2024. Real-time monitoring allows for the observation of all data and trends as operations take place. This ensures that decisions can be made instantly, promotes safe practices, verifies quality, validates information, and optimizes processes, ultimately resulting in reduced flaring and lower expenses.

Table of Segmentation: