Market Research Report
Global Swellable Packers Market Size study, by Product Type (Retrievable Packers, Permanent Packers) by Swell Type (Oil Swells, Water Swells, Hybrid Swells) by Application (Offshore, Onshore) and Regional Forecasts 2022-2028
|Global Swellable Packers Market Size study, by Product Type (Retrievable Packers, Permanent Packers) by Swell Type (Oil Swells, Water Swells, Hybrid Swells) by Application (Offshore, Onshore) and Regional Forecasts 2022-2028|
Published: March 23, 2022
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Swellable Packers Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028. Swellable Packers contain elastomers (is a polymer with viscoelasticity (i.e., both viscosity and elasticity)) that swell on contact with certain wellbore fluids to form an annular seal against gas, sand, and water migration. The swell packer system can be used either in cased or openhole wells. Growing oil consumption and rising demand from oil and gas industry are key drivers for the growth of Swellable Packers market. For instance, according to International Energy Agency (IEA)'s Oil Market Report - December 2021- as of 2021, refinery runs are forecast to rise by 3.1 million of Barrels per day on average, recovering approximately 42% of 2020's decline. Another 3.7 million of Barrels per Day increase in throughputs is expected in the year 2022. In recent events in December 2021, US based ConocoPhillips has acquired stakes in the shale oil-rich Permian Basin from Royal Dutch Shell Plc (RDS.A) for USD 9.5 billion. The acquired assets involve 600 miles of operated oil, natural gas, water pipelines and other energy infrastructure. Also, with rapid urbanization in emerging markets and increasing investment on new drilling contracts, the adoption & demand for Swellable Packers is likely to increase the market growth during the forecast period. However, rising focus over renewable energy sources impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Swellable Packers market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region across the world in terms of market share owing to presence of leading market players and increasing production of crude oil in the region. Whereas Middle East and Africa are anticipated to exhibit highest growth rate over the forecast period 2022-2028. Factors such as growing production of crude oil in the region would create lucrative growth prospects for the Swellable Packers market across Middle East & Africa.
Major market player included in this report are:
Weatherford International plc
The Weir Group PLC
TAM International, Inc.
Elite Elastomers Inc.
Reactive Downhole Tools
Baker Hughes Company (GE)
Nine Energy Service
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
By Swell Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Swellable Packers Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures