Global Expandable Liner Hanger System Market is expected to foresee significant growth. Middle East & Africa to lead the growth!
- Vikas Kumar
- December 18, 2021
- ENERGY & POWER, NEWS
- Expandable Liner Hanger System Market, Expandable Liner Hanger System Market Growth, Expandable Liner Hanger System Market news, Expandable Liner Hanger System Market Report, Expandable Liner Hanger System Market Share, Expandable Liner Hanger System Market Size, Expandable Liner Hanger System Market Trend
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Global Expandable Liner Hanger System market is expected to showcase significant growth of ~10% CAGR during the forecast period (2021-2027). Rising unconventional and deep-water exploration and production activities, increasing need for higher productivity and efficiency, and the advantage of covering vast areas by a single rig employing long lateral drilling methods are expected to drive the demand for expandable liner hanger systems market during the forecast period.
For a detailed analysis of the Global Expandable Liner Hanger System Market browse through https://univdatos.com/report/expandable-liner-hanger-system-market/
A liner hanger is a system that is used to hang a liner in a production well. The demand for liner hangers is directly related to the number of wells drilled and completed. The increasing investments in exploration, production, and drilling activities and number of upstream projects, across the world, by the oil producers like the United States and OPEC is expected to drive the liner hangers market. In addition, surge in the number of rigs, increase in the total drilled footage per well, and technological advancements are anticipated to fuel the market growth. Moreover, availability of abundant resources, coupled with increased potential to recover oil and gas from deep-water and ultra-deep-water areas, is expected to provide a great opportunity for the offshore expandable liner hanger systems market.
The outbreak of COVID-19 has adverse impact on the expandable liner hanger system market. The lockdown restrictions around the globe had shut down all the industries activities. Further, manufacturing industry executives experienced delivery slowdowns, because of the closure of industries to reduce the spread of coronavirus and since the workers started getting sick. In 2020, the oil and gas industry got struck with the COVID-19 impact, far more significant than any other shocks that the sector came across in the past. The oil prices started declining at the end of Q1 2020, and the prices were slashed entirely by the end of April 2020.
For a detailed analysis of the Covid-19 Impact on the industry browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=12585
Based on reservoir, the market is classified into oil and gas. The oil segment caters extensive market share owing to the surging consumer demand coupled with rising government and FDI investment in exploration of reservoir are catering the market demand for expandable liner hangers.
For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, Spain, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), Middle East & Africa (UAE, Saudi Arabia, South Africa, Nigeria, Egypt, Rest of MEA), South America (Argentina, Brazil, Rest of South America). In 2020, Middle East & Africa holds the considerable market share due to the large new field developments in deep-water are expected to be the key drivers for growth of liner hanger system market.
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Some of the major players operating in the market include Halliburton, Schlumberger Limited, Weatherford, Baker Hughes Incorporated, National Oilwell Varco, NCS Multistage, LLC, Well Innovation AS, Innovex Downhole Solutions, Allomon Tool Company Inc, Sonovex Technology. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.
Global Expandable Liner Hanger System Market Segmentation
Market Insight, by Reservoir
Market Insight, by Application
Market Insight, by Region
- North America Expandable Liner Hanger System Market
- United States
- Rest of North America
- Europe Expandable Liner Hanger System Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Expandable Liner Hanger System Market
- Rest of Asia-Pacific
- Middle East & Africa Expandable Liner Hanger System Market
- Saudi Arabia
- South Africa
- Rest of MEA
- South America Expandable Liner Hanger System Market
- Rest of South America
Top Company Profiles
- Schlumberger Limited
- Baker Hughes Incorporated
- National Oilwell Varco
- NCS Multistage, LLC
- Well Innovation AS
- Innovex Downhole Solutions
- Allomon Tool Company Inc.
- Sonovex Technology