Casing Cementation Hardware Market size to grow by USD 2,277.34 million from 2022 to 2027, North America to account for 44% of the market growth - Technavio

NEW YORK, April 10, 2023 /PRNewswire/ -- The global casing cementation hardware market size is estimated to grow by USD 2,277.34 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 4.25% during the forecast period. North America is estimated to account for 44% of the global casing cementation hardware market growth during the forecast period. The US, Canada, and Mexico will make the largest contribution to the regional market growth in North America. They are the world's largest oil and gas producers and have expanded significantly due to unconventional exploration and production (E&P) activities such as shale drilling in the US and oil sand exploration in Canada. The growing oil and gas E&P activity is projected to trigger operations such as well drilling and completion activities, which increases the need for casing cement hardware in the region. Such factors influence the growth of the casing cementation hardware market in the region. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

What's New?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!

Casing Cementation Hardware Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on application (onshore and offshore), type (casing hardware and cementation hardware), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

• The market share growth by the onshore segment will be significant during the forecast period. The oil and gas E&P activities will enhance oil and gas drilling and completion operations in this segment. This will drive the expansion of the onshore segment of the global casing cement market during the forecast period. The operating cost of drilling activities in onshore oil and gas E&P operations is substantially lower than in offshore oil and gas E&P operations. This is because drilling deeper wells in harsh, subsea environments requires more technologies and equipment. Many countries invest in oil and gas E&P activities to increase profit margins and production. Hence, these factors will drive the growth of the segment during the forecast period.

Insights on the market contribution of various segments, including country- and region-wise data, historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Casing Cementation Hardware Market – Market Dynamics
Key factor driving market growth

• One of the key factors driving the market growth of the casing cementation hardware market is the growing investment in upstream oil and gas operations. 
• Energy security becomes increasingly important to meet energy demand due to global population growth and industrialization. Exploring untapped oil and gas resources is possible because of the technological breakthroughs in the oil and gas industry.
• Moreover, oil and natural gas production is declining in many conventional oilfields. To solve this problem and maximize profits from these fields, oil and gas producers increase their investment in mature oil and gas fields.
• Additionally, increased investments in the upstream oil and gas sector will increase oil drilling and production.
• Therefore, the increase in upstream oil and gas investments drives oil and gas well drilling and completion activities, which will boost the need for casing cementation hardware and contribute to the growth of the global casing cementation hardware market during the forecast period.

Leading trends influencing the market 

• The development of intelligent well-completion technologies is an emerging trend in the global casing cementation hardware market. 
• Smart or intelligent completion is an oil and gas well completion technology. It involves the use of permanent downhole sensors and surface-controlled downhole flow control valves. By applying this cutting-edge technology, well operators can remotely monitor reservoir and completion integrity data as well as analyze and manage output in real time without the need for well intervention.
• Intelligent complete refers to remotely monitoring and controlling oil and gas well operations by installing remote control devices during the well completion process, where these devices collect, transmit, and analyze data from wells to ensure well integrity.
• Additionally, the systems provide operators with access to real-time fiber-optic monitoring of the entire wellbore throughout the well's lifespan. 
• Optimization of reservoir performance and reduced risk of equipment failure are two of the features offered throughout the lifespan of the well. Thus, the integration of intelligent well completion technology provides a cost-effective alternative for maximizing hydrocarbon recovery, reducing non-productive time, and increasing the reservoir's production potential. 

Major challenges hindering the market growth

• Fluctuations in oil and gas prices are a primary challenge impeding the growth of the global casing cementation hardware market.
• Since 2014, the crude oil supply surplus has triggered instability in global crude oil prices, which has adversely affected the financial and profit margins of companies.
• As a result, the oil and gas industry has failed to attract considerable investments, resulting in a massive loss of market potential.
• As oil and gas are produced from the same exploration wells, fluctuations in crude oil prices affect oil E&P activity, which, in turn, impacts the global market.
• The production expenses for oil and gas E&P companies are largely fixed, whereas the price at which crude oil is sold is decided by market forces. Thus, upstream oil and gas companies experience a negative impact from a decline in global crude oil prices.
• Therefore, the volatility in global crude oil prices will hinder the growth of the global casing cementation market during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period (2017 to 2021), and forecast period (2023 to 2027)- Request a sample report!

What are the key data covered in this Casing Cementation Hardware Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the casing cementation hardware market between 2023 and 2027
• Precise estimation of the size of the casing cementation hardware market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the casing cementation hardware market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of casing cementation hardware market vendors

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports:

The dental cements market size is expected to increase by USD 374.94 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.33%. The report extensively covers dental cements market segmentation by product (permanent cement and temporary cement) and geography (North America, Europe, Asia, and the Rest of the World (ROW)). One of the factors driving market growth is the growing prevalence of oral diseases in the aging population.

The oilfield casing spools market size is expected to increase by USD 38.38 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.41%. The report extensively covers oilfield casing spools market segmentation by application (onshore and offshore) and geography (North America, APAC, Europe, Middle East and Africa, and South America). One of the factors driving the global oilfield casing spools market growth is the increasing investments in upstream oil and gas operations.

Browse for Technavio's Energy Market Reports

Key Topics Covered:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global casing cementation and hardware market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global casing cementation and hardware market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Onshore - Market size and forecast 2022-2027
• Exhibit 34: Chart on Onshore - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Onshore - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Onshore - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Onshore - Year-over-year growth 2022-2027 (%)

• 6.4 Offshore - Market size and forecast 2022-2027
• Exhibit 38: Chart on Offshore - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Offshore - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Offshore - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Offshore - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application ($ million)
• Exhibit 43: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 44: Chart on Type - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 46: Chart on Comparison by Type
• Exhibit 47: Data Table on Comparison by Type

• 7.3 Casing hardware - Market size and forecast 2022-2027
• Exhibit 48: Chart on Casing hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Casing hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Casing hardware - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Casing hardware - Year-over-year growth 2022-2027 (%)

• 7.4 Cementation hardware - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Cementation hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Cementation hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Cementation hardware - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Cementation hardware - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 56: Market opportunity by Type ($ million)
• Exhibit 57: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 63: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 95: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Baker Hughes Co. 
• Exhibit 111: Baker Hughes Co. - Overview
• Exhibit 112: Baker Hughes Co. - Business segments
• Exhibit 113: Baker Hughes Co. - Key news
• Exhibit 114: Baker Hughes Co. - Key offerings
• Exhibit 115: Baker Hughes Co. - Segment focus

• 12.4 Centek Holdings Ltd. 
• Exhibit 116: Centek Holdings Ltd. - Overview
• Exhibit 117: Centek Holdings Ltd. - Product / Service
• Exhibit 118: Centek Holdings Ltd. - Key offerings

• 12.5 Forum Energy Technologies Inc. 
• Exhibit 119: Forum Energy Technologies Inc. - Overview
• Exhibit 120: Forum Energy Technologies Inc. - Business segments
• Exhibit 121: Forum Energy Technologies Inc. - Key offerings
• Exhibit 122: Forum Energy Technologies Inc. - Segment focus

• 12.6 Halliburton Co. 
• Exhibit 123: Halliburton Co. - Overview
• Exhibit 124: Halliburton Co. - Business segments
• Exhibit 125: Halliburton Co. - Key news
• Exhibit 126: Halliburton Co. - Key offerings
• Exhibit 127: Halliburton Co. - Segment focus

• 12.7 Innovex 
• Exhibit 128: Innovex - Overview
• Exhibit 129: Innovex - Product / Service
• Exhibit 130: Innovex - Key offerings

• 12.8 Nabors Industries Ltd. 
• Exhibit 131: Nabors Industries Ltd. - Overview
• Exhibit 132: Nabors Industries Ltd. - Business segments
• Exhibit 133: Nabors Industries Ltd. - Key news
• Exhibit 134: Nabors Industries Ltd. - Key offerings
• Exhibit 135: Nabors Industries Ltd. - Segment focus

• 12.9 Neoz Energy Pvt Ltd. 
• Exhibit 136: Neoz Energy Pvt Ltd. - Overview
• Exhibit 137: Neoz Energy Pvt Ltd. - Product / Service
• Exhibit 138: Neoz Energy Pvt Ltd. - Key offerings

• 12.10 NOV Inc. 
• Exhibit 139: NOV Inc. - Overview
• Exhibit 140: NOV Inc. - Business segments
• Exhibit 141: NOV Inc. - Key offerings
• Exhibit 142: NOV Inc. - Segment focus

• 12.11 PAO TMK 
• Exhibit 143: PAO TMK - Overview
• Exhibit 144: PAO TMK - Business segments
• Exhibit 145: PAO TMK - Key offerings
• Exhibit 146: PAO TMK - Segment focus

• 12.12 Sledgehammer Oil Tools Pvt. Ltd. 
• Exhibit 147: Sledgehammer Oil Tools Pvt. Ltd. - Overview
• Exhibit 148: Sledgehammer Oil Tools Pvt. Ltd. - Product / Service
• Exhibit 149: Sledgehammer Oil Tools Pvt. Ltd. - Key offerings

• 12.13 Summit Casing Equipment 
• Exhibit 150: Summit Casing Equipment - Overview
• Exhibit 151: Summit Casing Equipment - Product / Service
• Exhibit 152: Summit Casing Equipment - Key offerings

• 12.14 Techint 
• Exhibit 153: Techint - Overview
• Exhibit 154: Techint - Product / Service
• Exhibit 155: Techint - Key offerings

• 12.15 Trican Well Service Ltd. 
• Exhibit 156: Trican Well Service Ltd. - Overview
• Exhibit 157: Trican Well Service Ltd. - Product / Service
• Exhibit 158: Trican Well Service Ltd. - Key offerings

• 12.16 Vallourec SA 
• Exhibit 159: Vallourec SA - Overview
• Exhibit 160: Vallourec SA - Business segments
• Exhibit 161: Vallourec SA - Key offerings
• Exhibit 162: Vallourec SA - Segment focus

• 12.17 Weatherford International Plc 
• Exhibit 163: Weatherford International Plc - Overview
• Exhibit 164: Weatherford International Plc - Business segments
• Exhibit 165: Weatherford International Plc - Key news
• Exhibit 166: Weatherford International Plc - Key offerings
• Exhibit 167: Weatherford International Plc - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 168: Inclusions checklist
• Exhibit 169: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 170: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 171: Research methodology
• Exhibit 172: Validation techniques employed for market sizing
• Exhibit 173: Information sources

• 13.5 List of abbreviations 
• Exhibit 174: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio