Reports - Well Casing & Cementing Market
Well Casing & Cementing Market Size, Share & Trends Analysis Report by Application (Onshore, Offshore) by Service Type (Casing Equipment & service, Cementing Equipment & Service) by Machine Type (Traditional Technologies, Conventional Casing and Cementing Techniques, Advanced Technologies, Automated Casing and Cementing, Enhanced Cementing Technologies) by Product Type (Steel Casing, Carbon Steel, Alloy Steel, Composite Casing, Fiberglass, Plastic, Cement Types, Class A, Class G, Specialty Cements) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2018 - 2023) & Forecast (2024 - 2032)
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USD 19.41 Billion
6.6%
North America
Asia Pacific
2023
2020 - 2022
NaN - NaN
By Application, By Service Type, By Machine Type, By Product Type, By Region
The final deliverable will encompass both quantitative and qualitative data, providing a comprehensive analysis of the market. The scope is customizable.
The Global Well Casing & Cementing Market is valued at USD 10.97 Billion in 2023 and is projected to reach a value of USD 19.41 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 6.6% between 2024 and 2032.
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Well Casing is a pipe with a large diameter that is assembled, inserted and cemented into a section of a recently drilled wellbore. It is designed in such a way that it can withstand various forces like burst, collapse and tensile failure, and chemically-excessive brines as well. With this Well cementing is the process of introducing cement to the annular space between the well-bore and casing or to the annular space between two successive casing strings.
The global Well Casing & Cementing market is segmented based on products, applications, regions, and countries. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed based on present and future trends. The research study provides complete assessment of the market on the basis of competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2024 to 2032.
Based on region, the global Well Casing & Cementing market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region led the market with the largest share in 2023. Some of the key countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea.
The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Well Casing & Cementing market are Tenaris, Frank’s International, Vallourec, NOV, Weatherford, TMK Group, Innovex Downhole Solutions, Trican, Centek Group, Nabors Industries, Halliburton, BHGE, Schlumberger.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.
COVID-19 pandemic led to government of numerous countries across the globe to impose strict lockdown restrictions during the preliminary stages. In 2021, numerous countries faced the adverse effects of the pandemic due to the outbreak of second wave, which also led governments to again impose lockdown measures. Business shutdowns, partial business operations, and travel restrictions have led to challenges in supply chain and in turn production. However, it is expected that reopening of trade activities, the market will witness steady growth in the demand in the coming years. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.
The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:
o Impact Assessment of COVID-19 Pandemic
o Pre & Post COVID-19 Market Size
o Qualitative analysis on the short term & long term impact of COVID-19 on the market
o The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.
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The continuous increase in shale developments and new offshore well drilling in economies like Europe and Africa is expected to augment the growth of the market during the forecast period. The revitalizing oil prices expediting upstream investments is further expected to support the growth of the market in the years to come. The high initial costs of raw materials is expected to hamper the growth of the market in the near future.
The key players in the global Well Casing & Cementing market include - Tenaris and among others.
Source: www.vantagemarketresearch.com
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Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis | |
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