“Global liner hanger systems market is expected to post a CAGR of close to 5.5%”, says Visiongain

27 September 2019
Energy

This latest report by business intelligence provider Visiongain assesses that Liner Hanger Systems Market spending will reach $987 million during 2020-2030.The global liner hanger systems market is expected to post a CAGR of close to 5.5% during the period 2020-2030. The three characteristics of liner-hangers are: simplicity of operation. Setting device for easy release. Recoverable bushing pack-off. Here is a brief description of the product range of our liner-hangers. Winfield oil services ltd also supply all types of liner-hanger instruments, phase cementers and instruments, stabilizers and countless machinery linked to the oil industry. Liner Hanger is a tool / system used in a production well to hang a liner. Liner is similar to casing, but as casing is, it is not running through the well's full depth.

During the prediction era (2020-2030), the industry for the rail hanger scheme is due to experience a CAGR of 5.5%. Increasing unconventional and deep water E&P activities, increasing need for higher productivity and efficiency, and the advantage of covering vast areas through a single rig using long lateral drilling methods are major factors driving the market studied. The risk of failure associated with liner hanger systems and the challenges associated with raw material availability are likely to hamper the market growth being studied.

With the resurgence of oil and gas prices and the kick-off of multiple overseas activities, the overseas section is probable to grow greater than onshore. In addition, it is expected that greater complexity in offshore oil and gas reserve formations will push companies to innovate and develop specific offshore liner hanger systems. Deep water development and ultra-deep water resources are probable to be an option in the future. In the forecast period, Asia-Pacific is expected to witness the fastest growth. China is by far the biggest industry in the Asia-Pacific region and, unlike many other nations around the globe, is dominated by many local car hanger unit producers. 

Cost advantage over a full casing string 

A contemporary liner structure also known as a liner hanger scheme comprises of a liner hanger, a smooth bearing receiver (PBR) and a liner-top packer. Liner hanger systems can be either mechanical or hydraulic, premium or standard, rotating or non-rotating, conventional or expandable, and slip pocket. Each system is used in various applications.

In vertical onshore wells, mechanical liner hanger systems are used. Its mechanical mechanism is driven by the drill pipe rotation. When it is attached to the well's cone, the liner is set. Hydraulic pipe hangers are used mainly in onshore tanks underwater, upright, profound and HP / HT. A hydraulic wall hanger is a high maintenance device that enables both covering and cement activity simultaneously. The forces of hydraulic pressure attach these systems to the well cones.  Expandable liner hangers are luxury devices and commonly used when running and hanging long liners, as well as providing stronger cementing work when needed.

The Number Of Wells Drilled And Completed Is Directly Influenced By The Demand For Liner Hanger Systems

The number of wells drilled and completed is directly influenced by the demand for liner hanger systems. As such, the number of rigs is a comparatively excellent request measure.  Well, there is little effect on demand from intervention and work-over activities. Oil price volatility will influence the requirement for seat hanger structures in the brief run, as fewer holes are built during the downturn. Historically, North America, followed by Asia Pacific and South America, had the largest market share.  Together, these three areas represent more than 70% of the worldwide industry for coaster hangers. Oman and Saudi Arabia are the largest ship hanger economies in the Middle East.  Drilling activity, i.e. rig count and utilization is the closest indicator.

The worldwide rise in crane size is a main variable influencing the development of the industry for car hanger structures. As worldwide crude petroleum rates gradually returned to USD 70.7 per bottle in July 2018 following the abrupt fall in 2016, the median effective plant rate improved by 38%. Increasing the worldwide tank count and using wall hanger devices to decrease complete crew period in a well will result in improved productivity and improve the remaining oil yield. Therefore, the worldwide industry for ship hangers is anticipated to expand as the amount of working rigs around the globe increases over the forecast period.

Global Liner Hanger Systems Market: Increase In Deep Water And Ultra-Deep Water Exploration

With the rise in deep-water and ultra-deep-water operations, many industry suppliers are presenting specially designed wall hanger devices for such operations. For instance, the deep water liner hanger system from Halliburton, XtremeGrip, set a record for the world's longest installed expandable liner hanger system. The system was installed in the Gulf of Mexico at a depth of 30,924 feet. Thus, the development of deep water and ultra-deep water exploration liner hanger systems and the increase of deep water and ultra-deep water E&P projects support the growth of the global market for liner hanger systems over the forecast period.

Global Increase In Rig Count

Increasing worldwide crane number and using wall hanger devices to decrease a well's complete production contribute to greater productivity and improve the reserve's oil efficiency. Therefore, the worldwide industry for ship hanger devices is anticipated to expand over the forecast period with the rise in the amount of working rigs worldwide.

Fluctuations In Global Oil Price

Because of fluctuating global oil prices, the oil and gas projects are on hold. Most E&P schemes are only performed if the income produced is sufficiently large to allow vendors to create earnings. The assumption is therefore that worldwide crude oil prices will impact investors in oil and gas drilling initiatives, which in fact will influence market growth during our forecast period.

Leading Players

Weatherford International PLC

Baker Hughes, a GE Company

National Oilwell Varco Inc.

Halliburton Company

Schlumberger Limited

NCS Multistage LLC

Well Innovation AS

Innovex Downhole Solutions Inc.

Packers Plus Energy Services Inc.

Dril-Quip (TIW Corporation)
Saga Group

Companies such as Baker Hughes, Schlumberger, Halliburton, and Weatherford International have historically dominated the shuttle hanger device industry. For many drillers around the globe, the years of experience and knowledge have rendered these firms a favored option. However, the industry has witnessed the penetration of various new companies over the last fifteen years, such as Innovex Downhole Solutions Inc. and Well Innovation AS, which are strengthening their presence in both the local and global markets. Companies are adopting new strategies to maintain the environment of lower oil prices. In addition, enhancing efficiency and reducing the risk associated with the liner hanger system are some of the focus areas for the system manufacturing companies. In addition, owing to fast advances in profound water and ultradeep water findings worldwide, businesses are now working with carriers to satisfy technology requirements for effective and low-cost closure processes.

The comprehensive report offers market estimation and forecast for the period ranging 2020-2030 for leading national markets and rest of the world. Moreover, the report contains dedicated leading companies covering 10 leading producers in the field of Liner Hanger Systems.

The Liner Hanger Systems Market Report 2020-2030 report will be of value to anyone who wants to better understand the Liner Hanger Systems market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the Liner Hanger Systems industry.

Visiongain is a trading partner with the US Federal Government
CCR Ref number: KD4R6

Do you have any custom requirements we can help you with? Any need for specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: sara.peerun@visiongain.com

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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