About Wellhead Equipments
A Wellhead is an equipment that is mounted on the top of a natural oil or gas well. Its function is to ensure a safe operation and manage the flow of oil or gas from the well into the collecting system. It comprises valves, spools and assorted adapters that control the pressure of the production well. It finds its usage for providing suspension to casing-strings and acts as an aid for attaching Christmas trees that are used to perform production operations. After the completion of the wellbore, it is used as a medium for injecting things inside the well and also to attach a pump to the wellbore. It can differ in complexity and size according to the type of the well and its location such as land, offshore or subsea location
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The Market For The Wellhead Equipment Is Fragmented With The Presence Of Many Players Worldwide. Leading Players Can Adopt Strategies Like As A Merger, Acquisition, Expansion, New Product Launches, In Order To Gain Share Within The Market. Owing To Booming Energy Exploration Industry, There Are Growing Prospects for the New Players to Expand Their Market Analyst at AMA Research estimates that United States and European Manufacturers will contribute the maximum growth to Global Wellhead Equipments market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Baker Hughes Inc. (United States), Weir Group (United Kingdom), National Oil Well Varco Inc. (Bermuda), Aker Solutions (Norway), Oil States International. (United States), Cameron International Corporation (United States), Schlumberger Ltd. (United States) and Weatherford International Ltd. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Great Lakes Wellhead, Inc. (United States), Performance Wellhead & Frag Components Inc. (United States), Cactus Wellhead, LLC. (United States), FMC Technologies (Netherlands), Stream-Flo Industries (Canada), Drill Quip (United States) and Shanghai Wellhead Equipment Manufacture (China).
Segmentation Overview
AMA Research has segmented the market of Global Wellhead Equipments market by Type (Flanges, Master valve, Choke, Hangers, Hangers, Casing Heads, Casing Spools, Tubing Heads, Secondary Seals, Tubing Head Adapters and Others), Application (Onshore and Offshore) and Region.
On the basis of geography, the market of Wellhead Equipments 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). If we see Market by Manufacturing Material, the sub-segment i.e. Carbon Steel will boost the Wellhead Equipments market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Direct Sales will boost the Wellhead Equipments market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Drilling Type, the sub-segment i.e. Well will boost the Wellhead Equipments market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The rise in sanctioned oil and gas projects in emerging economies
Market Growth Drivers:
Increased demand for energy resulting in a rise in oil and gas exploration and Growing exploration for renewable energy resources like shale oil and coal bed methane
Challenges:
Maintenance issues associated with the wellhead equipment like Chokes, and Valves
Restraints:
Fluctuating prices of the crude oil causing delay in oil exploration projects
Opportunities:
There is an increasing opportunity for the wellhead manufacturers to tap the rising requirements for wellhead owing to increased oil and gas exploration activities
Market Leaders and their expansionary development strategies
In May 2019, QCI, a producer of the electronic submersible pump (ESP) penetrators and wellhead solutions announced the launch of a gas lift wellhead solution-QCI Gas Lift Wellhead Hanger and Adapter and In August 2018, Trelleborg Sealing Solutions announced the launch of a new metal end cap seal specifically engineered for high temperature/high pressure (HTHP) wellhead tubing and casing hanger sealing environments
In February 2017, Pelican Energy Partners, a Houston-based private equity firm focused on the oilfield equipment and service sector announced the recapitalization and combination of Performance Wellhead & Frac Components, Inc. ("Performance") and Slingshot Supply, Inc. ("Slingshot").
Key Target Audience
Manufacturers of Wellhead Equipment, Distributors/Traders, Importers/Exporters, Investors, Regulatory and Government Bodies, Downstream Vendors, Up-Stream Vendors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.