Casing Cementation Hardware Market to increase by USD 2.28 billion between 2022 to 2027, Increasing investments in upstream oil and gas operations are notably driving the market. - Technavio
NEW YORK, Oct. 10, 2023 /PRNewswire/ -- The casing cementation hardware market size is expected to grow by USD 2.28 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 4.25% during the forecast period. Increasing investments in upstream oil and gas operations are notably driving the casing cementation hardware market. However, factors such as fluctuation in oil and gas prices may impede market growth. The market is segmented by Application (Onshore and Offshore), Type (Casing hardware and Cementation hardware), and Geography (North America, Europe, APAC, Middle East and Africa, and South America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format
Key Segment Analysis
The market share growth by the onshore segment will be significant during the forecast period. The increasing oil and gas production and exploration will drive the growth of the segment. The upstream oil and gas industry is greatly aided by onshore oil and gas exploration and production (E&P) operations. Because drilling deeper wells in harsh subsea environments requires more advanced technology and equipment, onshore oil and gas E and P operations have significantly lower operating costs than offshore E and P operations. Hence, these factors are expected to drive the growth of the segment during the forecast period. To know additional highlights and key points on various market segments and their impact in coming years, View the FREE PDF Sample Report.
Geographical Market Analysis
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.
Company Insights
The casing cementation hardware market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:
Baker Hughes Co., Centek Holdings Ltd., DRILLING TOOLS INTERNATIONAL, Drillstar Industries, Ferro-Tube Oil Tools Co. LP, Forum Energy Technologies Inc., Halliburton Co., Innovex, Inrock Drilling Systems Inc., Nabors Industries Ltd., Neoz Energy Pvt Ltd., PAO TMK, Sledgehammer Oil Tools Pvt. Ltd., Summit Casing Equipment, Techint, Trican Well Service Ltd., Vallourec SA, Weatherford International Plc, WellPartner AS, NOV Inc.
- View the FREE PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
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Casing Cementation Hardware Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.25% |
Market growth 2023-2027 |
USD 2.28 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
4.1 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 44% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Baker Hughes Co., Centek Holdings Ltd., DRILLING TOOLS INTERNATIONAL, Drillstar Industries, Ferro-Tube Oil Tools Co. LP, Forum Energy Technologies Inc., Halliburton Co., Innovex, Inrock Drilling Systems Inc., Nabors Industries Ltd., Neoz Energy Pvt Ltd., PAO TMK, Sledgehammer Oil Tools Pvt. Ltd., Summit Casing Equipment, Techint, Trican Well Service Ltd., Vallourec SA, Weatherford International Plc, WellPartner AS, and NOV Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
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.
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SOURCE Technavio
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