Well Casing & Cementing Market Scope
Well casing and cementing is used to stabilize and protects sides of well from caving inside. The gap between the untreated sides of the well and casing is cemented to set the casing permanently. It helps to prevent fluid migration between subsurface formations. Well casing and cementing market is growing owing to increasing drilling operations. Further, technological advancement and the increasing offshore drilling operations driving the demand for well casing and cementing.
According to AMA, the Global Well Casing & Cementing market is expected to see growth rate of 4.98%
Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Well Casing & Cementing market throughout the predicted period.
Halliburton (United States), Schlumberger (United States), BHGE (United States), Weatherford (United States), NOV (United States), Tenaris (Luxembourg), Vallourec (France), TMK Group (Russia), Trican (Canada) and Nabors Industries (Bermuda) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Innovex Downhole Solutions (United States) and Centek Group (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Well Casing & Cementing market by Type (Casing and Cementing), by Application (Onshore and Offshore) and Region with country level break-up.
On the basis of geography, the market of Well Casing & Cementing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
22nd March 2019, Tenaris S.A announced to acquire PAO TMK, manufacturer of steel pipe to expand its local manufacturing presence in the United States market.
August 2018, TMK Group, engaged in the tubular products for the oil and gas industry developed UK KATRAN, a quick-assembly high-torque connection used for 20” to 36” (508 mm to 914 mm) casing assemblies. It can be used in all offshore projects at any depth and in the most challenging climatic conditions.
Market Trend
- Emphasizing On the Digitalization for the Offshore Oil & Gas Projects
- Technological Advancement for Well Drilling Process
Market Drivers
- New Offshore Well Drilling Projects
- Increasing Number of New Offshore Well Drilling Projects
Opportunities
- New Oilfields Findings in the Offshore Regions
- Increasing Demand from the Developing Countries
Restraints
- Stringent Government Regulations Regarding Well Casing & Cementing
- High Cost Associated With Well Casing & Cementing
Challenges
- Lack of Technical Professionals
Key Target Audience
Casing Pipe Manufacturers, Casing & Cementing Equipment Manufacturers, Casing & Cementing Service Providers, Service Integrators, Oilfield Operators, Market Research and Consulting Firms, Research Laboratories, Government Agencies and Others