The global well casing and cementing market at a CAGR of over 5% during the forecast period

NEW YORK, Dec. 3, 2019 /PRNewswire/ --

Global Well Casing and Cementing Market: About this market
This well casing and cementing market analysis considers sales from both onshore and offshore applications. Our study also finds the sales of well casing and cementing in APAC, Europe, MEA, North America, and South America. In 2019, the onshore segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rise in oil and gas E&P activities, especially in shale reservoirs will play a significant role in the onshore segment to maintain its market position. Also, our global well casing and cementing market report looks at factors such as increasing upstream investment, rise in global demand for oil and gas, and increasing focus on unconventional oil and gas E&P activities. However, change in energy mix, environmental concerns related to drilling, and fluctuations in global crude oil prices may hamper the growth of the well casing and cementing industry over the forecast period.

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Global Well Casing and Cementing Market: Overview
Increasing focus on unconventional oil and gas E&P activities
Unconventional hydrocarbon resources are found in reservoirs, including shale formations, oil sands, and coal seams. Given the significant potential offered by unconventional oil and gas E&P activities, governments across the advanced economies including the US and Europe are focusing on the production of shale oil and gas. Furthermore, governments are providing federal funding for cost-shared research and development in advanced technologies for recovering unconventional oil and gas. These R&D activities are further helping in improving the recovery efficiency of emerging unconventional oil and gas reservoirs, in turn, playing a critical role in maximizing energy production in the US. Thus, with rising focus on unconventional oil and gas E&P activities will lead to the expansion of the global well casing and cementing market at a CAGR of over 5% during the forecast period.
Increasing focus on unconventional oil and gas E&P activities
Oil well cementing plays a crucial role in providing zonal isolation and bonding the casing pipe in oil and gas E&P activities. This has encouraged vendors in the market to develop smart cement for reducing operational costs and simultaneously creating a safe working environment for workers in the oil and gas field. Companies in the market are also focusing on offering self-healing cement systems to provide a durable cement bond, allow long-term zonal isolation, and provide reliable cement sheath repair for preserving the integrity of oil and gas wells. Thus, these technological advances in cementing are anticipated to enhance the efficiency of cementing operations and create a strong bond, in turn, propelling the demand for well casing and cementing during the forecast period.

Competitive Landscape
With the presence of several major players, the global well casing and cementing market is moderately fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading well casing and cementing manufacturers, that include Baker Hughes, a GE Co. LLC, China Oilfield Services Ltd., Frank's International NV, Halliburton Co., Nabors Industries Ltd., PAO TMK, Schlumberger Ltd., Tenaris SA, Vallourec SA, and Weatherford International Plc.
Also, the well casing and cementing market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Read the full report: https://www.reportlinker.com/p05829119/?utm_source=PRN

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