Jun 10, 2019   SOURCE: PR NewsWire

Global $11.7 Bn Well Casing & Cementing Market Forecast to 2024 with Halliburton, Schlumberger, BHGE, Weatherford, and NOV Dominating

DUBLIN, June 10, 2019 /PRNewswire/ -- The "Well Casing & Cementing Market by Type (Casing, Cementing), Service (Casing pipe, equipment & services, Cementing equipment & services), Operation (Primary, Remedial), Application (Onshore, Offshore), Well, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

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The Well Casing & Cementing Market is Projected to Reach USD 11.7 Billion by 2024 From an Estimated USD 9.2 Billion in 2019, at a CAGR of 5.0% During the Forecast Period.

New oilfield discoveries globally have increased the demand for well casing & cementing operations. Furthermore, shale developments and rising drilling activities are driving the market. However, managing well integrity compliance with the national and international drilling standards is a strong challenge for the well & casing market.

The horizontal segment, by well type, is expected to be the largest and the fastest growing market from 2019 to 2024

The well type segment is categorized as horizontal and vertical, the two drilling methods adopted by companies. In 2018, horizontal wells accounted for about 70% of the wells drilled globally. This is majorly due to the increasing drilling activities in the Middle East and Europe, where horizontal drilling is more prominent. North America is expected to hold the largest horizontal well type market, with continuous shale developments in lower-48 states in the US.

The offshore segment, by application, is expected to be the fastest growing market from 2019 to 2024

The offshore segment is expected to be the fastest growing application subsegment during the forecast period, owing to the new discoveries in the deepwater and ultra-deepwater locations. The offshore wells create demand opportunities for well casing & cementing due to challenging geographic conditions and regulatory standards by nations.

Moreover, recent discoveries in Guyana, the US, and Cyprus located in ultra-deepwater, which is wholly owned by oil majors, indicates that oil companies aim to focus on deepwater exploration. This is driving the offshore segment of the well casing & cementing market. Asia Pacific is projected to be the largest offshore application market by 2024, owing to the discoveries in the Gulf of Thailand and China Sea.

North America: The largest and the fastest growing region in the well casing & cementing market

North America is expected to dominate the global well casing & cementing market between 2019 and 2024. The North American drilling activity has risen drastically, owing to the stabilized WTI crude oil prices since 2016. Moreover, the continuous shale activities in the region are driving the demand for well casing & cementing. The upstream operators, such as Total, ExxonMobil, Chevron, and Apache, also have a major presence in North America. This creates more opportunities for service and equipment providers to capture long-term contracts.

The leading players in the well casing & cementing market are Halliburton (US), Schlumberger (US), BHGE (US), Weatherford (US), and NOV (US).

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Well Casing & Cementing Market During the Forecast Period
4.2 Well Casing & Cementing Market, By Region
4.3 North American Well Casing & Cementing Market, By Type & Country
4.4 Well Casing & Cementing Market, By Application
4.5 Well Casing & Cementing Market, By Well Type
4.6 Well Casing & Cementing Market, By Operation Type
4.7 Well Casing & Cementing Market, By Type
4.8 Well Casing & Cementing Market, By Equipment & Service Type
4.8.1 Well Casing & Cementing Market, By Casing Equipment & Service Type
4.8.1.1 Casing Equipment & Service Market, By Casing Pipe
4.8.1.2 Casing Equipment & Service Market, By Casing Supporting Equipment & Service
4.8.2 Cementing Market, By Cementing Equipment & Service Type

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Continuous Shale Developments Likely to Drive the Market
5.2.1.2 Revitalizing Oil Prices Expediting Upstream Investments
5.2.1.3 New Offshore Well Drilling in Europe and Africa
5.2.2 Restraints
5.2.2.1 Decreasing Oil Demand From Europe
5.2.3 Opportunities
5.2.3.1 Technological Advancements in Carrying Out Well Drilling Processes
5.2.3.2 New Oilfield Discoveries Creating Immense Opportunities
5.2.4 Challenges
5.2.4.1 Complying With International Regulations and Standards
5.3 Supply Chain Overview
5.3.1 Key Influencers
5.3.1.1 Casing Pipe Manufacturers
5.3.1.2 Casing & Cementing Equipment Manufacturers
5.3.1.3 Casing & Cementing Service Providers
5.3.1.4 Service Integrators
5.3.1.5 Oilfield Operators

6 Well Casing & Cementing Market, By Type
6.1 Introduction
6.2 Casing
6.2.1 North America to Be the Largest Market for Casing
6.3 Cementing
6.3.1 Cementing Market is Driven By Shale Development in the Americas

7 Well Casing & Cementing Market, By Equipment & Service Type
7.1 Introduction
7.2 Casing Equipment & Services
7.2.1 Casing Pipe
7.2.1.1 Conductor Casing
7.2.1.1.1 North America to Be the Largest Market for Conductor Casing Owing to Development of Shale Reserves
7.2.1.2 Surface Casing
7.2.1.2.1 Increasing Offshore Drilling in Asia Pacific to Provide Lucrative Opportunities to Service Providers
7.2.1.3 Intermediate Casing
7.2.1.3.1 Europe to Be the Second Largest Market for Intermediate Casing
7.2.1.4 Production Casing
7.2.1.4.1 Drilling Activities in Ultra-Deep-Water Reserves to Drive the Production Casing Segment
7.2.1.5 Liner
7.2.1.5.1 Complexity in Carrying Out E&P Activities at Unconventional Reserves Expected to Drive the Liner Segment
7.2.2 Casing Supporting Equipment & Services
7.2.2.1 Float Equipment
7.2.2.1.1 Asia Pacific to Be the Second Largest Market for Float Equipment
7.2.2.2 Casing Collar
7.2.2.2.1 Well Complexity and Developments in Unconventional Reserves Provide Lucrative Opportunities to Casing Collar OEMs
7.2.2.3 Centralizer
7.2.2.3.1 Increase in Horizontal Drilling Drives the Centralizer Market
7.2.2.4 Scratcher
7.2.2.4.1 Increase in Drilling Activities in Unconventional Reserves Drives the Scratcher Market
7.2.2.5 Liner System
7.2.2.5.1 Increase in Offshore Drilling Activities From Unconventional Reserves to Drive the Liner System Market
7.2.2.6 Others
7.3 Cementing Equipment & Services
7.3.1 Cementing Head
7.3.1.1 Increase in Offshore Drilling to Drive the Cementing Head Segment
7.3.2 Wiper Plug
7.3.2.1 North America Dominates the Wiper Plug Segment
7.3.3 Stage Tool
7.3.3.1 Increase in Multi-Stage Cement Jobs to Drive the Stage Tool Market
7.3.4 Others

8 Well Casing & Cementing Market, By Operation Type
8.1 Introduction
8.2 Primary Cementing
8.2.1 Increasing Activities in E&P to Drive the Primary Cementing Market
8.3 Remedial Cementing
8.3.1 Well Complexity at Unconventional Reserves Drives the Remedial Cementing Market
8.4 Others

9 Well Casing & Cementing Market, By Well Type
9.1 Introduction
9.2 Horizontal Well
9.2.1 North America to Dominate Horizontal Drilling Activites
9.3 Vertical Well
9.3.1 Asia Pacific to Lead Vertical Drilling

10 Well Casing & Cementing Market, By Application
10.1 Introduction
10.2 Onshore
10.2.1 Onshore Shale Development in North America to Provide Opportunities for Service Providers
10.3 Offshore
10.3.1 Europe Dominates the Offshore Drilling Activities

11 Well Casing & Cementing Market, By Region

12 Competitive Landscape
12.1 Overview
12.2 Competitive Leadership Mapping, 2018
12.2.1 Visionary Leaders
12.2.2 Innovators
12.2.3 Dynamic Differentiators
12.2.4 Emerging Companies
12.3 Market Share, 2018
12.4 Competitive Scenario
12.4.1 New Product Launches
12.4.2 Contracts & Agreements
12.4.3 Mergers & Acquisitions
12.4.4 Expansions

13 Company Profiles

    --  Baker Hughes, A GE Company
    --  Centek Group
    --  Frank's International (Blackhawk Specialty Tools)
    --  Halliburton
    --  Innovex Downhole Solutions
    --  Nabors Industries Ltd.
    --  National Oilwell Varco
    --  Schlumberger Limited
    --  Tenaris
    --  TMK Group
    --  Trican Well Service Ltd.
    --  Vallourec
    --  Weatherford

For more information about this report visit https://www.researchandmarkets.com/r/vm0et5

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