Market Research Report
Well Casing and Cementing Market by Application and Geography - Forecast and Analysis 2020-2024
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||917427|
|Published||Content info||160 Pages
Delivery time: 1-2 business days
|Well Casing and Cementing Market by Application and Geography - Forecast and Analysis 2020-2024|
|Published: November 19, 2019||Content info: 160 Pages||
Technavio's well casing and cementing market analysis considers sales from both onshore and offshore applications. Our study also finds the sales of well casing and cementing in APAC, Europe, MEA, North America, and South America. In 2019, the onshore segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rise in oil and gas E&P activities, especially in shale reservoirs will play a significant role in the onshore segment to maintain its market position. Also, our global well casing and cementing market report looks at factors such as increasing upstream investment, rise in global demand for oil and gas, and increasing focus on unconventional oil and gas E&P activities. However, change in energy mix, environmental concerns related to drilling, and fluctuations in global crude oil prices may hamper the growth of the well casing and cementing industry over the forecast period.
Unconventional hydrocarbon resources are found in reservoirs, including shale formations, oil sands, and coal seams. Given the significant potential offered by unconventional oil and gas E&P activities, governments across the advanced economies including the US and Europe are focusing on the production of shale oil and gas. Furthermore, governments are providing federal funding for cost-shared research and development in advanced technologies for recovering unconventional oil and gas. These R&D activities are further helping in improving the recovery efficiency of emerging unconventional oil and gas reservoirs, in turn, playing a critical role in maximizing energy production in the US. Thus, with rising focus on unconventional oil and gas E&P activities will lead to the expansion of the global well casing and cementing market at a CAGR of over 5% during the forecast period.
Oil well cementing plays a crucial role in providing zonal isolation and bonding the casing pipe in oil and gas E&P activities. This has encouraged vendors in the market to develop smart cement for reducing operational costs and simultaneously creating a safe working environment for workers in the oil and gas field. Companies in the market are also focusing on offering self-healing cement systems to provide a durable cement bond, allow long-term zonal isolation, and provide reliable cement sheath repair for preserving the integrity of oil and gas wells. Thus, these technological advances in cementing are anticipated to enhance the efficiency of cementing operations and create a strong bond, in turn, propelling the demand for well casing and cementing during the forecast period.
For the detailed list of factors that will drive the global well casing and cementing market during the forecast period 2020-2024, view our report.
With the presence of several major players, the global well casing and cementing market is moderately fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading well casing and cementing manufacturers, that include Baker Hughes, a GE Co. LLC, China Oilfield Services Ltd., Frank's International NV, Halliburton Co., Nabors Industries Ltd., PAO TMK, Schlumberger Ltd., Tenaris SA, Vallourec SA, and Weatherford International Plc.
Also, the well casing and cementing market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.