Well Casing & Cementing Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Type (Casing Equipment Services (Casing Pipe, Casing Supporting Equipment & Services), and Cementing Equipment Services (Cementing Head, Wiper Plug, Stage Tool, Others), Operation Type (Primary Cementing, Remedial Cementing, and Others), Well Type (Horizontal Well, Vertical Well), Application (Offshore and Onshore), and Region and Country

Pages:

290

Table:

82

Figure:

133

Report ID:

UMEP21784

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description

Well Casing & Cementing Market
Well Casing & Cementing Market

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The Global Well casing & cementing market is expected to grow at a CAGR of around 5% during the forecast period (2021-2027). Well casing is lining such as hollow steel pipe which is installed in an oil well after drilling to support the well whereas well cementing is the process of using cement between the annular space of the well-bore and casing to support vertical and radial loads applied to casing. There are various types of casing such as conductor casing, intermediate casing, surface casing, production casing, liner, and liner tieback casing.

Furthermore, technological advancements in carrying out well-drilling processes coupled with continuous shale developments and new oilfield discoveries are some of the major factors augmenting the growth of the market. Additionally, increasing investments in the oil & gas industry and rising government focus on providing federal funding for cost-shared research and development in advanced technologies for recovering unconventional oil and gas are factors expected to proliferate the growth of the industry.

The coronavirus pandemic was declared a public health emergency worldwide by World Health Organization (WHO). Government across nations implemented lockdown and ban on traveling, the shutdown of manufacturing industries, commercial activities this had severely disrupted the supply chain. In addition, energy demand decreased, oil and gas exploration and processing operations were put on a halt which negatively impacted the world economy. Hence, reduced the investment in onshore operations which eventually slumped the market size of well casing and cementing market.

 Well casing & cementing Application 2020

 

Well Casing & Cementing Market 1
Well Casing & Cementing Market 1

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Halliburton, Schlumberger, BHGE, Weatherford, Tenaris, Vallourec, TMK Group, Trican, Nabors Industries, Frank’s International. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst equipment and service type, casing equipment services segment holds the major share”

Based on type, the well casing & cementing market is bifurcated into casing equipment services and cementing equipment services. The casing equipment services catered to significant demand in the well casing & cementing market. As the casing plays a key role in supporting the raw well, this process is carried out at different stages which makes it an expensive procedure. Thus, casing equipment and services category accounted for a larger market share in the market.

In addition, the casing helps in maintaining stability, preventing the combination of water sands, Isolating water from producing formations, and controlling well pressures during drilling, production, and workover operations during the exploration and production of oil and gas..

“Amongst operation type, primary cementing segment holds the major share”

Based on operation type, the well casing & cementing market is segmented into primary cementing, remedial cementing, and others. The primary cementing segment holds a considerable market share in the well casing & cementing market. As primary cementing is a critical process in the well construction process. The surging oil and gas exploration and processing activities in various developing economies are driving the market size for well casing and cementing.

Moreover, 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 various regions. Therefore, accelerating the category’s growth in the global well casing and cementing market..

“Amongst application, offshore segment holds the major share”

Based on the application, the well casing & cementing market is classified into offshore and onshore. The offshore segment holds an extensive market share in the well casing & cementing market. The growth of this segment is primarily driven by the cost reduction and digitalization of the oil & gas offshore projects. This would ultimately create new opportunities for the well casing & cementing market during the forecast period. In addition, new oilfield discoveries in offshore regions are expected to increase the drilling operations. Such developments in offshore are driving the well casing & cementing market.

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Moreover, the recent waves of cost reductions and critical technological breakthroughs have enabled many oil and gas exploration and production companies to expand their portfolio of sustainable deepwater developments. In January 2020, Eni started the production at the Agogo-1 deepwater field and won exploration rights to Block 28 in the Namibe Basin, while Total, active in Angola for more than 60 years, was awarded Block 2..

“Middle East Africa represents one of the extensive market shares of global well casing & cementing Market”

For a better understanding of the market dynamics of the global well casing & cementing market, a detailed analysis was conducted for different regions including Asia Pacific, North America, South America, Europe, Middle East & Africa. Middle East and Africa accounted for a significant share in the well casing & cementing market. It is mainly predominant due to the surging investment in oil and gas offshore exploration activities coupled with growing energy consumption I the region is accentuating the market size of well casing and cementing market. In addition, the market is driven by the growth in the unconventional oil and gas industry in Saudi Arabia, and demand from the onshore & offshore fields is creating opportunities for the industry outlook.

For instance: In May 2021, Middle East Energy begins with the Renewable & Clean Energy sector which provide a platform to explore the strengthening momentum of the global transition to renewable energy. In order to meet the improved transmissions and distribution activities, drilling and exploration activities will increase which would escalate the market size of well casing and cementing..

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  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
  • The report presents a quick review of overall industry performance at one glance.
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
  • The study comprehensively covers the market across different segments.
  • Deep dive regional level analysis of the industry.


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1.1.Market Definitions
1.2.Limitation
1.3.Stake Holders
1.4.Currency used in Report
2.1.Research Process of the Well Casing & Cementing Market
2.2.Research Methodology of the Well Casing & Cementing Market
2.3.Forecasting Method
2.4.Respondent Profile
2.5.Main Objective of the Well Casing & Cementing Market Study
3MARKET SYNOPSIS

 

4EXECUTIVE SUMMARY

 

5GLOBAL WELL CASING & CEMENTING MARKET COVID-19 IMPACT
6GLOBAL WELL CASING & CEMENTING MARKET REVENUE 2019-2027F
7.1.Casing Equipment & Services
 7.1.1.Casing Pipe
 7.1.2.Casing Supporting Equipment & Services
7.2.Cementing Equipment & Services
 7.2.1.1.Cementing Head
 7.2.1.2.Wiper Plug
 7.2.1.3.Stage Tool
 7.2.1.4.Others 
8.1.Primary Cementing
8.2.Remedial Cementing
8.3.Others
9.1.Horizontal Well
9.2.Vertical Well
10.1.Onshore
10.2.Offshore
11.1.North America Well Casing & Cementing Market 
 11.1.1.United States
 11.1.2.Canada
 11.1.3.Rest of North America
11.2.South America Well Casing & Cementing Market
 11.2.1.Brazil
 11.2.2.Columbia
 11.2.3.Rest of South America
11.3.Europe Well Casing & Cementing Market 
 11.3.1.Germany
 11.3.2.France
 11.3.3.Spain
 11.3.4.Italy
 11.3.5.United Kingdom
 11.3.6.Rest of Europe
11.4.Asia Pacific Well Casing & Cementing Market
 11.4.1.China
 11.4.2.India
 11.4.3.Australia
 11.4.4.Japan
 11.4.5.Rest of Asia Pacific
11.5.Middle East & Africa Well Casing & Cementing Market
 11.5.1.UAE
 11.5.2.Saudi Arabia
 11.5.3.Rest of MEA
12.1.Market Drivers
12.2.Market Challenges
12.3.Impact Analysis
13WELL CASING & CEMENTING MARKET OPPORTUNITIES
14WELL CASING & CEMENTING MARKET TRENDS
15LEGAL & REGULATORY FRAMEWORK
16.1.Demand Side Analysis
16.2.Supply Side Analysis

17 VALUE CHAIN ANALYSIS

18.1.Competitive Landscape
 18.1.1.Porter’s Five Forces Analysis
19.1.Halliburton
19.2.Schlumberger
19.3.BHGE
19.4.Weatherford
19.5.Tenaris
19.6.Vallourec
19.7.TMK Group
19.8.Trican
19.9.Nabors Industries
19.10.Frank’s International

20 DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global well casing & cementing market were the three major steps undertaken to create and analyze the adoption of well casing & cementing in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Well casing & cementing market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the well casing & cementing market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the well casing & cementing market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as type, operation type, well type, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the well casing & cementing market. Further, we conducted factor analysis using dependent and independent variables such as low cost and digitalization of oil & gas offshore projects. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Well casing & cementing market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global well casing & cementing market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of well casing & cementing market across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the global well casing & cementing market in terms of the category offered. Also, the growth strategies adopted by these players to compete in the fast-growing market


Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Well Casing & Cementing Market 2
Well Casing & Cementing Market 2

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global well casing & cementing market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, operation type, well type, and application in the global well casing & cementing market.

The main objective of the Global Well casing & cementing Market Study

The current & future market trends of the global well casing & cementing market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the well casing & cementing market in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of type, operation type, well type, and application.
  • Define and analysis of the regulatory framework for the well casing & cementing market industry.
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
  • Analyze the current and forecast market size of the well casing & cementing market for the major region.
  • Major regions studied in the report include Asia Pacific, South America, Europe, North America, and Middle East & Africa.
  • Company profiles of the well casing & cementing market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry

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