05 September 2019
Visiongain’s new report the Well Casing & Cementing Market Report 2019-2029: Forecasts by Equipment & Service Type (Casing Equipment & Services, Casing Pipe, Casing Supporting Equipment & Services, Float Equipment, Casing Collar, Centralizer, Scratcher, Liner System, Cementing Equipment & Services, Cementing Head, Wiper Plug, Stage Tool), by Operation Type (Primary Cementing, Remedial Cementing), by Well Type (Horizontal Well, Vertical Well), by Application (Onshore, Offshore) Plus Leading Company Analysis and Regional and Leading National Market Analysis.
This latest report by business intelligence provider Visiongain assesses that Well Casing & Cementing Market spending will reach 14.87 billion by 2029 from an estimated USD 9.8 billion in 2019, at a CAGR of 5.2% during the forecast period. Increasing drilling operations have increased the demand for well casing & cementing.
The casing machinery is used primarily to support the well as without support the raw side of the well would crash. The various kinds of enclosure include conductive enclosure, surface enclosure, intermediate enclosure, manufacturing enclosure, and liner. They are used depending on the well's nature. Casing takes place at various stages, making it a costly process. Thus, in the well casing & cementing industry, casing accounts for a bigger market share.
The study segments the market for well casing and cementing into casing and cementing, by type. It is estimated that the well casing segment will hold the biggest market share by 2029. The casing machinery is used primarily to support the well as without support the raw side of the well would crash. The various kinds of enclosure include conductive enclosure, surface enclosure, intermediate enclosure, manufacturing enclosure, and liner. They are used depending on the well's nature. Casing takes place at various stages, making it a costly process. Thus, in the well casing & cementing industry, casing accounts for a bigger market share.
Demand For Efficient Wells From Oil And Gas Industry
The oil and gas industry is constantly looking for cost-effective drilling techniques and generating oil and gas wells to optimize manufacturing and maximize earnings. After drilling for oil or gas exploration casing is performed to stabilize and prevent caving in on the sides of the well. It protects the well from internal contaminants and prevents groundwater from becoming contaminated by manufactured oil or gas. Well cementing is the drilling activity's most important elements and its full process. It maintains the well so that the slurry does not come out of the walls. The main role of well cementing is to cover the well's inner line, regulate corrosion, and ensure consistency and strength.
Leading Regional & National Analysis
New oilfield findings around the world are the main driving factor in the market for well casing and cementing. Increasing oil and gas demand is also one of the market's main driving factors. Demand for well casing and cementing is growing owing to enhanced drilling operations in North America, Asia Pacific and parts of South & Central America.. Also driving market growth are factors such as increase in offshore and onshore oil and gas exploration operations, shale developments, stimulating oil prices that accelerate upstream investments. However, Europe's falling oil demand is hampering the development of the industry. In addition, technological developments in the performance of well-drilling procedures are expected to provide market players with future growth possibilities.
Recent Developments in the global market
BHGE set up an oilfield services center to serve Saudi Aramco and the region in December 2018. The plant offers drilling facilities, wireline services and pressure pumping facilities for customer support operations as well as positioning King Salman Energy Park as a worldwide industrial centre.
TMK Group developed UK premium KATRAN connection in August 2018, a unique high-torque quick-assembly connection used for 20"–36 "(508–914 mm) casing assemblies. This connection can be used in offshore projects wherever the weather is deep and challenging.
Weatherford opened a consolidated facility in Egypt in April 2019 to boost revenue and cut costs. The new plant is a cost-effective initiative to save USD 1.5 million annually.
Tenaris purchased TMK Group IPSCO tubulars in March 2019. This purchase helped Tenaris grow its product portfolio and strengthened its place on the US market and local manufacturing presence.
Trican Well Service Ltd.
Frank’s International (Blackhawk Specialty Tools)
Nabors Industries Ltd
National Oilwell Varco
The comprehensive report offers market estimation and forecast for the period ranging 2019 – 2029 for leading national markets and rest of the world. Moreover, the report contains dedicated leading companies covering 10 leading producers in the field of advanced energy storage systems.
The Advanced Energy Storage Systems Market Report 2019-2029 report will be of value to anyone who wants to better understand the energy storage 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 energy industry.
Notes for Editors
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04 December 2019
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