NEW YORK, June 27, 2023 /PRNewswire/ — The casing cementation hardware market value is anticipated to grow by USD 2,277.34 million, progressing at a CAGR of 4.25% during the forecast period. For Comprehensive details on the market size of the historic period(2017 to 2021) and the forecast period (2023-2027) – View a Sample Report
Casing Cementation Hardware Market – Market Dynamics
Key drivers
Increasing investments in upstream oil and gas operations is the key factor driving the growth of the casing cementation hardware market. This is due to the increasing population and industrialization; energy security has become one of the most important factors. There are various technological breakthroughs in the oil and gas industry that have helped to tap oil and gas resources easily.
Furthermore, the output of oil and natural gas is decreasing in many traditional oilfields. Oil and gas producers are increasing their investment in mature oil and gas fields to overcome this challenge and maximize income from these oil fields. The greater investment in the upstream oil and gas industry will result in higher oil drilling and production. Hence these investments are expected to drive market growth during the forecast period.
Major Trends
The development of intelligent well-completion technologies is the primary trend shaping the casing cementation hardware market growth. This advanced technology uses permanent downhole sensors and surface-controlled downhole flow control valves.
Furthermore, well operators can remotely monitor reservoir and completion integrity data, as well as analyze and manage output in real-time without the need for well intervention, by utilizing this cutting-edge technology. To guarantee the integrity of wells, these devices collect, transmit, and analyze data from them. As a result, incorporating intelligent good completion technology offers maximizing hydrocarbon recovery, a cost-effective alternative for increasing the reservoir’s production potential, and reducing non-productive time.
Significant challenges
Fluctuations in oil and gas prices are a major challenge impeding the growth of the casing cementation hardware market . Companies involved in the upstream of oil and gas experience negative financial losses because of significant price drops and rises. As a result, the oil and gas industry has lost a lot of market potential because it hasn’t been able to attract a lot of investment. The prices are decided by the market forces for the crude oil to be sold. In addition, the expenses for production are fixed. Due to this upstream oil and gas companies are negatively impacted by a decline in crude oil prices. Hence, the volatility in crude oil prices is expected to restrict the growth of the casing cementation market during the forecast period.
Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. – View Sample Report
Company Profiles
Some of the companies covered in this report are Baker Hughes Co., Centek Holdings Ltd., DRILLING TOOLS INTERNATIONAL, Drillstar Industries, Ferro-Tube Oil Tools Co. LP, Forum Energy Technologies Inc., Halliburton Co., Innovex, Inrock Drilling Systems Inc., Nabors Industries Ltd., Neoz Energy Pvt Ltd., PAO TMK, Sledgehammer Oil Tools Pvt. Ltd., Summit Casing Equipment, Techint, Trican Well Service Ltd., Vallourec SA, Weatherford International Plc, WellPartner AS, and NOV Inc., etc.
What’s New? –
- Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!
Competitive Analysis
The competitive scenario provided in the casing cementation hardware market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
Market Segmentation
This report extensively covers market segmentation by application (onshore and offshore), type (casing hardware and cementation hardware), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
- The market share growth by the onshore segment will be significant during the forecast period. The increasing oil and gas production and exploration will drive the growth of the segment. The upstream oil and gas industry is greatly aided by onshore oil and gas exploration and production (E&P) operations. Because drilling deeper wells in harsh subsea environments requires more advanced technology and equipment, onshore oil and gas E and P operations have significantly lower operating costs than offshore E and P operations. Hence, these factors are expected to drive the growth of the segment during the forecast period.
Gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform
Related Reports
The vacuum gas oil market size is estimated to grow at a CAGR of 5.2% between 2022 and 2027. The market size is forecast to increase by USD 111.59 billion. Furthermore, this report extensively covers market segmentation by product (lower sulfur content and high sulfur content), type (light VGO and heavy VGO), and geography (North America, APAC, Europe, Middle East and Africa, and South America). The increase in demand for gasoline and diesel is a key factor driving the growth of the market during the forecast period.
The backup power systems market for the oil and gas industry is estimated to grow at a CAGR of 4.72% between 2022 and 2027. The backup power systems market size for the oil and gas industry is forecast to increase by USD 1,039.89 million. Furthermore, this report extensively covers market segmentation by product (generators, ups, and inverter), type (onshore and offshore), and geography (North America, Middle East and Africa, Europe, APAC, and South America). The rising global energy demand is a key factor driving the growth of the market during the forecast period.
Casing Cementation Hardware Market Scope | |
Report Coverage | Details |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 4.25% |
Market growth 2023-2027 | USD 2,277.34 million |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 4.1 |
Regional analysis | North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution | North America at 44% |
Key countries | US, China, Japan, Germany, and the UK |
Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled | Baker Hughes Co., Centek Holdings Ltd., DRILLING TOOLS INTERNATIONAL, Drillstar Industries, Ferro-Tube Oil Tools Co. LP, Forum Energy Technologies Inc., Halliburton Co., Innovex, Inrock Drilling Systems Inc., Nabors Industries Ltd., Neoz Energy Pvt Ltd., PAO TMK, Sledgehammer Oil Tools Pvt. Ltd., Summit Casing Equipment, Techint, Trican Well Service Ltd., Vallourec SA, Weatherford International Plc, WellPartner AS, and NOV Inc. |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview | If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
Table of Contents
1 Executive Summary
- 1.1 Market Overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global casing cementation and hardware market 2017 – 2021
- Exhibit 18: Historic Market Size – Data Table on Global casing cementation and hardware market 2017 – 2021 ($ million)
- 4.2 Application Segment Analysis 2017 – 2021
- Exhibit 19: Historic Market Size – Application Segment 2017 – 2021 ($ million)
- 4.3 Type Segment Analysis 2017 – 2021
- Exhibit 20: Historic Market Size – Type Segment 2017 – 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 – 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
- 4.5 Country Segment Analysis 2017 – 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Application
- 6.1 Market segments
- Exhibit 30: Chart on Application – Market share 2022-2027 (%)
- Exhibit 31: Data Table on Application – Market share 2022-2027 (%)
- 6.2 Comparison by Application
- Exhibit 32: Chart on Comparison by Application
- Exhibit 33: Data Table on Comparison by Application
- 6.3 Onshore – Market size and forecast 2022-2027
- Exhibit 34: Chart on Onshore – Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Onshore – Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Onshore – Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Onshore – Year-over-year growth 2022-2027 (%)
- 6.4 Offshore – Market size and forecast 2022-2027
- Exhibit 38: Chart on Offshore – Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Offshore – Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Offshore – Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Offshore – Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Application
- Exhibit 42: Market opportunity by Application ($ million)
- Exhibit 43: Data Table on Market opportunity by Application ($ million)
7 Market Segmentation by Type
- 7.1 Market segments
- Exhibit 44: Chart on Type – Market share 2022-2027 (%)
- Exhibit 45: Data Table on Type – Market share 2022-2027 (%)
- 7.2 Comparison by Type
- Exhibit 46: Chart on Comparison by Type
- Exhibit 47: Data Table on Comparison by Type
- 7.3 Casing hardware – Market size and forecast 2022-2027
- Exhibit 48: Chart on Casing hardware – Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Data Table on Casing hardware – Market size and forecast 2022-2027 ($ million)
- Exhibit 50: Chart on Casing hardware – Year-over-year growth 2022-2027 (%)
- Exhibit 51: Data Table on Casing hardware – Year-over-year growth 2022-2027 (%)
- 7.4 Cementation hardware – Market size and forecast 2022-2027
- Exhibit 52: Chart on Cementation hardware – Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Data Table on Cementation hardware – Market size and forecast 2022-2027 ($ million)
- Exhibit 54: Chart on Cementation hardware – Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Cementation hardware – Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Type
- Exhibit 56: Market opportunity by Type ($ million)
- Exhibit 57: Data Table on Market opportunity by Type ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 59: Chart on Market share by geography 2022-2027 (%)
- Exhibit 60: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 61: Chart on Geographic comparison
- Exhibit 62: Data Table on Geographic comparison
- 9.3 North America – Market size and forecast 2022-2027
- Exhibit 63: Chart on North America – Market size and forecast 2022-2027 ($ million)
- Exhibit 64: Data Table on North America – Market size and forecast 2022-2027 ($ million)
- Exhibit 65: Chart on North America – Year-over-year growth 2022-2027 (%)
- Exhibit 66: Data Table on North America – Year-over-year growth 2022-2027 (%)
- 9.4 Europe – Market size and forecast 2022-2027
- Exhibit 67: Chart on Europe – Market size and forecast 2022-2027 ($ million)
- Exhibit 68: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
- Exhibit 69: Chart on Europe – Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on Europe – Year-over-year growth 2022-2027 (%)
- 9.5 APAC – Market size and forecast 2022-2027
- Exhibit 71: Chart on APAC – Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Chart on APAC – Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on APAC – Year-over-year growth 2022-2027 (%)
- 9.6 Middle East and Africa – Market size and forecast 2022-2027
- Exhibit 75: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- 9.7 South America – Market size and forecast 2022-2027
- Exhibit 79: Chart on South America – Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on South America – Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on South America – Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on South America – Year-over-year growth 2022-2027 (%)
- 9.8 US – Market size and forecast 2022-2027
- Exhibit 83: Chart on US – Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on US – Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on US – Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on US – Year-over-year growth 2022-2027 (%)
- 9.9 China – Market size and forecast 2022-2027
- Exhibit 87: Chart on China – Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on China – Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on China – Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on China – Year-over-year growth 2022-2027 (%)
- 9.10 Germany – Market size and forecast 2022-2027
- Exhibit 91: Chart on Germany – Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on Germany – Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on Germany – Year-over-year growth 2022-2027 (%)
- 9.11 Japan – Market size and forecast 2022-2027
- Exhibit 95: Chart on Japan – Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on Japan – Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on Japan – Year-over-year growth 2022-2027 (%)
- 9.12 UK – Market size and forecast 2022-2027
- Exhibit 99: Chart on UK – Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on UK – Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on UK – Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on UK – Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 103: Market opportunity by geography ($ million)
- Exhibit 104: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.3 Impact of drivers and challenges
- Exhibit 105: Impact of drivers and challenges in 2022 and 2027
11 Vendor Landscape
- 11.2 Vendor landscape
- Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 107: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 108: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 109: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 110: Matrix on vendor position and classification
- 12.3 Baker Hughes Co.
- Exhibit 111: Baker Hughes Co. – Overview
- Exhibit 112: Baker Hughes Co. – Business segments
- Exhibit 113: Baker Hughes Co. – Key news
- Exhibit 114: Baker Hughes Co. – Key offerings
- Exhibit 115: Baker Hughes Co. – Segment focus
- 12.4 Centek Holdings Ltd.
- Exhibit 116: Centek Holdings Ltd. – Overview
- Exhibit 117: Centek Holdings Ltd. – Product / Service
- Exhibit 118: Centek Holdings Ltd. – Key offerings
- 12.5 Forum Energy Technologies Inc.
- Exhibit 119: Forum Energy Technologies Inc. – Overview
- Exhibit 120: Forum Energy Technologies Inc. – Business segments
- Exhibit 121: Forum Energy Technologies Inc. – Key offerings
- Exhibit 122: Forum Energy Technologies Inc. – Segment focus
- 12.6 Halliburton Co.
- Exhibit 123: Halliburton Co. – Overview
- Exhibit 124: Halliburton Co. – Business segments
- Exhibit 125: Halliburton Co. – Key news
- Exhibit 126: Halliburton Co. – Key offerings
- Exhibit 127: Halliburton Co. – Segment focus
- 12.7 Innovex
- Exhibit 128: Innovex – Overview
- Exhibit 129: Innovex – Product / Service
- Exhibit 130: Innovex – Key offerings
- 12.8 Nabors Industries Ltd.
- Exhibit 131: Nabors Industries Ltd. – Overview
- Exhibit 132: Nabors Industries Ltd. – Business segments
- Exhibit 133: Nabors Industries Ltd. – Key news
- Exhibit 134: Nabors Industries Ltd. – Key offerings
- Exhibit 135: Nabors Industries Ltd. – Segment focus
- 12.9 Neoz Energy Pvt Ltd.
- Exhibit 136: Neoz Energy Pvt Ltd. – Overview
- Exhibit 137: Neoz Energy Pvt Ltd. – Product / Service
- Exhibit 138: Neoz Energy Pvt Ltd. – Key offerings
- 12.10 NOV Inc.
- Exhibit 139: NOV Inc. – Overview
- Exhibit 140: NOV Inc. – Business segments
- Exhibit 141: NOV Inc. – Key offerings
- Exhibit 142: NOV Inc. – Segment focus
- 12.11 PAO TMK
- Exhibit 143: PAO TMK – Overview
- Exhibit 144: PAO TMK – Business segments
- Exhibit 145: PAO TMK – Key offerings
- Exhibit 146: PAO TMK – Segment focus
- 12.12 Sledgehammer Oil Tools Pvt. Ltd.
- Exhibit 147: Sledgehammer Oil Tools Pvt. Ltd. – Overview
- Exhibit 148: Sledgehammer Oil Tools Pvt. Ltd. – Product / Service
- Exhibit 149: Sledgehammer Oil Tools Pvt. Ltd. – Key offerings
- 12.13 Summit Casing Equipment
- Exhibit 150: Summit Casing Equipment – Overview
- Exhibit 151: Summit Casing Equipment – Product / Service
- Exhibit 152: Summit Casing Equipment – Key offerings
- 12.14 Techint
- Exhibit 153: Techint – Overview
- Exhibit 154: Techint – Product / Service
- Exhibit 155: Techint – Key offerings
- 12.15 Trican Well Service Ltd.
- Exhibit 156: Trican Well Service Ltd. – Overview
- Exhibit 157: Trican Well Service Ltd. – Product / Service
- Exhibit 158: Trican Well Service Ltd. – Key offerings
- 12.16 Vallourec SA
- Exhibit 159: Vallourec SA – Overview
- Exhibit 160: Vallourec SA – Business segments
- Exhibit 161: Vallourec SA – Key offerings
- Exhibit 162: Vallourec SA – Segment focus
- 12.17 Weatherford International Plc
- Exhibit 163: Weatherford International Plc – Overview
- Exhibit 164: Weatherford International Plc – Business segments
- Exhibit 165: Weatherford International Plc – Key news
- Exhibit 166: Weatherford International Plc – Key offerings
- Exhibit 167: Weatherford International Plc – Segment focus
13 Appendix
- 13.2 Inclusions and exclusions checklist
- Exhibit 168: Inclusions checklist
- Exhibit 169: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 170: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 171: Research methodology
- Exhibit 172: Validation techniques employed for market sizing
- Exhibit 173: Information sources
- 13.5 List of abbreviations
- Exhibit 174: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/casing-cementation-hardware-market-size-to-grow-by-usd-2-277-34-million-from-2022-to-2027–increasing-investments-in-upstream-oil-and-gas-operations-to-boost-market-growth—technavio-301863387.html
SOURCE Technavio
Credit: Source link