Well Casing & Cementing Market

The global Well Casing & Cementing market was valued at USD 9.6 Billion in 2020 and is projected to reach USD 16.25 Billion by 2028, growing at a CAGR of 6.8% from 2021 to 2028.

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 2021 to 2028. 

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.

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.

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 2020. 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.

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

• Global Well Casing & Cementing Market is projected to reach USD 16.25 Billion by 2028
• North America held the highest share of the Well Casing & Cementing market
• Well Casing held the largest share of the product segment in the Well Casing & Cementing market
• Casing Equipment & Services held the major share of the application segment in the Well Casing & Cementing market