Global Well Casing & Cementing Market Size Study & Forecast, by Application (Onshore, Offshore), by Service Type (Casing Equipment & Service, Cementing Equipment & Service), and Regional Forecasts 2025-2035

The Global Well Casing & Cementing Market is currently estimated at USD 11.69 billion in 2024 and is expected to expand at a robust CAGR of 6.60% during the forecast period from 2025 to 2035. Well casing and cementing, pivotal components of modern oil and gas drilling operations, play a fundamental role in reinforcing the structural integrity of wells, isolating formation zones, and safeguarding the surrounding environment. As the global demand for hydrocarbons continues to escalate and exploration ventures move into deeper and more complex geologies, the strategic implementation of casing and cementing services has become an operational imperative across upstream activities.

The market growth is fueled by the steady resurgence of drilling activities, driven by recovering crude oil prices and rising investments in offshore and unconventional energy resources. Technological evolution in casing and cementing methods-ranging from advanced cement slurries to automated casing running tools-has transformed efficiency benchmarks across drilling operations. Notably, the deployment of enhanced cementing technologies helps prevent annular gas migration and formation fluid intrusion, thereby optimizing well lifecycle and production sustainability. As drilling contractors and E&P firms double down on precision, reliability, and wellbore safety, the role of high-performance casing and cementing systems becomes increasingly vital.

Regionally, North America dominates the global landscape, underpinned by its mature shale basins, innovative drilling infrastructure, and heavy investments in unconventional oil and gas recovery-especially across the Permian Basin and the Gulf of Mexico. The region benefits from a highly competitive service ecosystem, fostering cost-effective, yet advanced casing and cementing practices. Meanwhile, Asia Pacific is emerging as a formidable growth engine, particularly in countries such as India, China, and Indonesia, where the pressure to meet energy demand is stimulating new exploration projects. In Europe, strict regulatory frameworks on well integrity and environmental safety are further incentivizing the adoption of smart casing and specialty cementing formulations.

Major market player included in this report are:

• Baker Hughes Company
• Schlumberger Limited.
• Halliburton Company
• Chevron Phillips Chemical Company
• BASF SE
• M&D Industries Of Louisiana, Inc.
• Impact Fluid Solutions
• Croda International Plc.
• Trican Well Service Ltd.
• Aubin Group
• Weatherford International plc
• National Oilwell Varco
• Calfrac Well Services
• Superior Energy Services
• Tenaris S.A.

Global Well Casing & Cementing Market Report Scope:

• Historical Data - 2023, 2024
• Base Year for Estimation - 2024
• Forecast period - 2025-2035
• Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
• Customization Scope - Free report customization (equivalent up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segments of the market are explained below:

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
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.