Global Well Casing and Cementation Hardware Strategic Business Report 2023: Surging Energy Demand Worldwide and Subsequent Rise in Drilling Activities Bolsters Growth


Dublin, June 13, 2023 (GLOBE NEWSWIRE) -- The "Well Casing and Cementation Hardware - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Well Casing and Cementation Hardware estimated at US$9.8 Billion in the year 2022, is projected to reach a revised size of US$14 Billion by 2030, growing at a CAGR of 4.5% over the analysis period 2022-2030.

Casing, one of the segments analyzed in the report, is projected to record 4.8% CAGR and reach US$10.7 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Cementing segment is readjusted to a revised 3.6% CAGR for the next 8-year period.

The U.S. Market is Estimated at $2.7 Billion, While China is Forecast to Grow at 7.6% CAGR

The Well Casing and Cementation Hardware market in the U.S. is estimated at US$2.7 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$3 Billion by the year 2030 trailing a CAGR of 7.6% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR.

Select Competitors (Total 47 Featured) -

  • Centek Group
  • Forum Energy Technologies
  • National Oilwell Varco, Inc.
  • Neoz Energy Pvt., Ltd.
  • Sledgehammer Oil Tools Pvt. Ltd.
  • Summit Casing Equipment
  • Tenaris SA
  • Vallourec Group
  • Weatherford International Ltd.

Key Attributes:

Report AttributeDetails
No. of Pages297
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$9.8 Billion
Forecasted Market Value (USD) by 2030$14 Billion
Compound Annual Growth Rate4.6%
Regions CoveredGlobal

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Casing & Cementation Hardware Market: A Prelude
  • Casing & Cementation Hardware - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Surging Energy Demand Worldwide and Subsequent Rise in Drilling Activities: A Prime Driver of Market Growth
  • Global Energy Consumption in Quadrillion BTUs for the Years 2015, 2020, 2025, 2030, 2035 and 2040
  • World Crude Oil Production: Breakdown of Production Volume in Thousand Barrels Per Day for Persian Gulf Nations and Non-OPEC Countries for the Period 2000-2018
  • Crude Oil Demand Worldwide in Million Barrels Per Day for the Years 2006 through 2019
  • Constantly Rising Capital Spending in E&P Projects Spurs Demand
  • Growing Investments in Oil & Gas Exploration: Capital Expenditure in US$ Million for the Years 2019, 2021, 2023, 2025
  • Shale Boom in the US and Discovery of New Shale Reserves Open Up Growth Avenues for Casing & Cementation Hardware
  • Proved Reserves of Crude Oil (in Billion Barrels) and Natural Gas Proved Reserves (in Trillion Cubic Feet) in the US for the Years 2000 and 2017
  • Cement Wiper Plug Technology: Vital for Fluid Separation in Deepwater Applications
  • Optimal Float Equipment Hold Significance for Demanding Deepwater Drilling Environments
  • Centralizers Offer Tremendous Benefits for Drilling Projects
  • Growing Environmental Concerns and Strict Regulations Impact Market Development
  • Restricted Access to Energy Resources Limits Growth Potential
  • PRODUCT OVERVIEW
  • Casing
  • Cementing
  • Casing Hardware
  • Cementing Equipment
  • Types of Casing & Cementation Hardware
  • Liner Equipment
  • Wiper Plugs
  • Float Equipment
  • Centralizers
  • Other Types

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/s98t4x

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Global Market for Well Casing and Cementation Hardware

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