Global $1.43 Bn Centralizers and Float Equipment Market to 2024: Increasing Prosperous New Discoveries of Oil and Gas Reserves
DUBLIN, Sept. 26, 2019 /PRNewswire/ -- The "Centralizers and Float Equipment Market Research Report: By Equipment, Application, Regional Insight - Global Industry Analysis and Growth Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
It valued $991.6 million in 2018 and is expected to reach $1,439.3 million by 2024 at a 6.3% CAGR during the forecast period (2019-2024).
The rising demand for oil & gas and increasing discovery of reserves are positively impacting the centralizers and float equipment market. Float equipment reduces the strain on derrick and provides a landing platform for backpressure valve and bottom and top cementing plugs to prevent the cement from flowing back into the well. A centralizer is used to maintain the cement sheath uniformity around the pipe determines.
The centralizers and float equipment market is being positively impacted by the growing oil and gas demand across the world. The fact that these are the primary sources of energy in many countries and the improving world economy have contributed in the increasing demand for these. While gas serves as the primary fuel source for domestic purposes, it, along with oil, is also used in electricity generation and transportation. China and India, which have large populations, are among the biggest consumers of oil & gas, thereby resulting in high centralizer and float equipment sales.
Another major factor contributing to the growth of the centralizers and float equipment market is the discovery of new gas & oil reserves. Investments in exploration and production (E&P) activities by many government and private entities are being increased to identify profitable reserves, as the demand for fuel in emerging economies, such as Brazil, India, and China, continues to grow. For instance, several oil reserves were discovered in the Sakakemang Block in southern Sumatra, Permian Basin in the U.S., Arctic region, and Glengorm in the U.K., in 2018.
The segments of the centralizers and float equipment market are region, equipment, and application. The application segment of the market is bifurcated into offshore and onshore. During the historical period (2014-2018), the larger market revenue share of about 80.0% was held by the onshore application due to the increasing E&P activities at the onshore sites. In the forecast period, the onshore application is expected to remain the highest revenue contributor to the market, owing to the increasing demand for oil & gas and rising E&P activities.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Equipment
4.1.1.1 Centralizers
4.1.1.1.1 Bow-spring
4.1.1.1.1.1 Non-welded
4.1.1.1.1.2 Hinged welded
4.1.1.1.1.3 One-piece
4.1.1.1.1.4 Slip on
4.1.1.1.2 Rigid
4.1.1.1.3 Semi-rigid
4.1.1.1.4 Mold-on
4.1.1.2 Float equipment
4.1.1.2.1 Float collar
4.1.1.2.2 Float shoe
4.1.1.2.3 Guide shoe
4.1.1.2.4 Plugs
4.1.1.2.4.1 Top
4.1.1.2.4.2 Bottom
4.1.1.2.5 Others
4.1.2 By Application
4.1.2.1 Onshore
4.1.2.2 Offshore
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Recovery in the global crude oil prices
4.2.1.2 Increasing prosperous new discoveries of oil and gas reserves
4.2.1.3 Growing demand for oil and gas
4.2.1.4 Impact analysis of drivers on market forecast
4.2.2 Restraints
4.2.2.1 Volatility in crude oil prices
4.2.2.2 Impact analysis of restraints on market forecast
4.2.3 Opportunities
Chapter 5. Global Market Size and Forecast
5.1 By Equipment
5.1.1 Centralizers Market, By Type
5.1.1.1 Bow-spring centralizers market, by type
5.1.2 Float Equipment Market, By Type
5.1.2.1 Plugs market, by type
5.2 By Application
5.3 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Market Share Analysis of Key Players
11.2 Product Offerings of Key Players
11.3 Strategic Developments of Key Players
11.3.1 Mergers and Acquisitions
11.3.2 Client Wins
11.3.3 Partnerships
11.3.4 Product/Services Launches
Chapter 12. Company Profiles
- Halliburton Company
- Weatherford International plc
- Centek Group
- Ray Oil Tool Company
- Downhole Products
- Summit Casing Equipment
- Sledgehammer Oil Tools Pvt. Ltd.
- NeOz Energy
- Puyang Zhongshi Group Co. Limited (PYSZ)
- National Oilwell Varco Inc.
- Oilmec Drilling Equipments Pvt. Ltd.
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