Casing Cementation Hardware Market Size 2025-2029
The casing cementation hardware market size is forecast to increase by USD 3.6 billion, at a CAGR of 5.9% between 2024 and 2029.
Increasing investments in upstream oil and gas operations are a primary driver for the global casing cementation hardware market. With rising energy demand, exploration of untapped resources, including shale and deepwater reserves, has intensified. This requires advanced casing hardware and cementation hardware to ensure well integrity. As part of the broader construction materials sector, the development of intelligent well-completion technologies is a key trend. This involves using downhole sensors and remote controls to monitor and manage well operations, enhancing efficiency and safety. This trend is shaping the demand for more sophisticated components within the bone cement market.Fluctuations in oil and gas prices present a significant challenge. Price volatility affects the profitability of exploration and production companies, leading to delays or cancellations of drilling projects. This, in turn, reduces demand for essential components, including lightweight construction material and supplementary cementitious materials. Such uncertainty in the oil and gas industry can deter investment, limiting the market's potential. Consequently, manufacturers of casing and cementation hardware must navigate a landscape where demand is closely tied to the economic viability of new drilling activities, which is heavily influenced by global commodity prices, affecting the cement market.
What will be the Size of the Casing Cementation Hardware Market during the forecast period?
Explore in-depth regional segment analysis with market size data - historical 2019 - 2023 and forecasts 2025-2029 - in the full report.
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The casing cementation hardware market is shaped by the imperative for wellbore assurance and zonal isolation in drilling and completion operations. Demand for components like casing packer collars and liner hanger systems is directly tied to upstream E&P activities. The complexity of these operations, from conventional vertical wells to extended-reach horizontal drilling, dictates the technical specifications of the required hardware, including the use of advanced construction materials.Technological evolution is a constant, with a focus on improving operational efficiency and safety. The adoption of intelligent well-completion systems, which integrate downhole sensors and flow control valves, allows for real-time reservoir management. This shift influences the design of cementing plugs and centralizers, which must be compatible with these automated systems. Such advancements in the bone cement market underscore a move toward more data-driven well construction.Material science plays a critical role in product development, especially for operations in high-pressure, high-temperature (HPHT) environments. The use of specialized corrosion-resistant alloys and composite materials is becoming more common to combat mechanical stress and chemical corrosion. These innovations in the fiber cement sector are essential for ensuring long-term well integrity and preventing costly failures, particularly in deepwater and sour gas applications.
How is this Casing Cementation Hardware Industry segmented?
The casing cementation hardware industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019 - 2023 for the following segments.
- Application
- Type
- Casing hardware
- Cementation hardware
- Material
- Geography
- North America
- Europe
- Russia
- UK
- Norway
- The Netherlands
- Germany
- Spain
- APAC
- China
- Australia
- India
- Malaysia
- Indonesia
- Japan
- Middle East and Africa
- South America
- Rest of World (ROW)
By Application Insights
The onshore segment is estimated to witness significant growth during the forecast period.
Onshore exploration and production (E&P) activities are a significant driver of the global casing cementation hardware market. The operational costs for onshore drilling are substantially lower than for offshore projects, prompting E&P companies to increase investments in this segment to improve profit margins. This is particularly evident in the development of unconventional resources like shale oil and gas, which has boosted onshore output. This segment's growth is tied to the need for reliable casing hardware to stabilize wells. A significant portion, 11.66%, of the market's incremental growth is expected to come from the Middle East and Africa.
Government initiatives aimed at ensuring energy security and increasing domestic production further support the onshore segment. Policies encouraging private and foreign investment in E&P activities, coupled with the exploration of new shale reserves, lead to a higher volume of drilling and completion operations. This directly increases the demand for essential cementation hardware, such as centralizers and cementing plugs, which are crucial for wellbore integrity. The expansion of onshore E&P projects worldwide ensures a steady demand for these components, sustaining the growth of this market segment.
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The Onshore segment was valued at USD 7.1 billion in 2019 and showed a gradual increase during the forecast period.
Regional Analysis
North America is estimated to contribute 36.4% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In North America, the casing cementation hardware market is driven by robust oil and gas production in the US, Canada, and Mexico. Unconventional E&P activities, such as shale drilling and oil sands exploration, have significantly expanded output, creating a high demand for well drilling and completion hardware. The region's market is characterized by a need for advanced solutions that can handle complex well-geometries and high-pressure environments. Government support for both onshore and offshore exploration further stimulates the need for reliable casing cementation hardware. The market is expected to get 3.55% of its growth from South America.
The region's growth is also supported by investments in deepwater exploration, particularly in the Gulf of Mexico. National policies in all three countries are focused on expanding production to ensure energy security, which involves approving new exploration plans and E&P projects. This sustained level of activity in North America, across both conventional and unconventional plays, results in a continuous need for a wide range of casing hardware and cementation hardware. This ensures the region remains a dominant force in the global market, with a steady pipeline of projects requiring these essential components.
Market Dynamics
Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The Global Casing Cementation Hardware Market is experiencing significant evolution, driven by the need to operate in increasingly complex environments. Demand for robust casing hardware for high-pressure high-temperature wells and effective cementation hardware for deepwater zonal isolation is pushing OEM innovation. To ensure wellbore integrity, operators are specifying corrosion-resistant alloys for sour gas environments and employing advanced liner hanger systems for extended reach drilling. Optimal execution hinges on precise centralizer placement for horizontal well standoff and the use of hydro form centralizers for reduced torque and drag. Furthermore, multi-stage cementing tools for complex completions and specialized float equipment design for high flow rates are becoming standard. For offshore operations, the adoption of sub-surface release plugs for offshore applications is critical for efficiency, while thermal well designs for steam-assisted gravity drainage require bespoke hardware solutions.Technological advancements are reshaping completion strategies, with a focus on automation and data-driven decisions. The integration of dissolvable plug technology for multistage fracturing and the use of non-drillable materials in cementing hardware are streamlining operations. A key trend is the move towards intelligent well completion downhole sensor integration, which facilitates the real-time monitoring of cement placement and is verified by ultrasonic cement inspection tool analysis. Ensuring annular barrier creation in sensitive formations is paramount, supported by managed pressure drilling integration with casing. The industry is also addressing new challenges with cementing solutions for carbon capture wells and innovative approaches to wellbore instability mitigation with flexible casing. The drive for operational excellence is further evidenced by the growth in tubular running services automation.
What are the key market drivers leading to the rise in the adoption of Casing Cementation Hardware Industry?
- The primary driver for the market is the increasing investment in upstream oil and gas operations to meet global energy demands.
Increasing investments in upstream oil and gas activities are a fundamental driver for the market. As energy security becomes a global priority, nations are encouraging exploration in previously untapped reservoirs, including unconventional shale formations. This strategic push is supported by policies designed to attract private and foreign capital into exploration and production projects. Enhanced investment translates directly into a higher volume of drilling and completion operations, which are the primary consumers of casing and cementation hardware. These components, such as casing packer collars and liner hanger systems, are indispensable for wellbore assurance and reservoir connectivity. Upstream spending in North America is projected to account for 36.4% of the incremental growth.The rising global demand for oil and gas is another significant factor contributing to market growth. Rapid industrialization and population growth continue to fuel energy consumption, intensifying the need for exploration and production in both conventional and unconventional reserves. This directly boosts demand for casing and cementation hardware, which is essential for maintaining well integrity and achieving zonal isolation. The expansion into harsher offshore environments necessitates more robust hardware, while the shale boom has increased the need for specialized solutions. Technological advancements that enhance operational efficiency are making these products more attractive, ensuring a positive outlook supported by sustained energy demand.
What are the market trends shaping the Casing Cementation Hardware Industry?
- A key upcoming trend is the development of intelligent well-completion technologies for remote monitoring and control.
The development of intelligent well-completion technologies is a significant trend shaping the market. This approach, also known as smart completion, integrates permanent downhole sensors and surface-controlled flow control valves into the wellbore. It allows operators to remotely monitor reservoir data and manage production in real time without well intervention. These systems gather, transmit, and analyze data to ensure well integrity and optimize output. By automating drilling and completion processes, this technology addresses safety and cost considerations, moving the industry away from manual data processing and toward greater efficiency. This evolution in the casing cementation hardware market enhances well performance. Europe is expected to contribute 30.12% to the market's growth.The declining cost of raw materials is notably transforming the market, influencing cost structures and competitive dynamics. Casing and cementation hardware, including components like casing pipes and centralizers, rely heavily on materials such as steel and cement. A downward trend in these costs, driven by stabilized supply chains and increased production capacity, is benefiting manufacturers. Reduced production expenses allow for more competitive pricing, which facilitates market expansion, particularly in cost-sensitive regions. This trend also allows savings to be reinvested into research and development, fostering innovation in areas like high-strength alloys and eco-friendly cementation solutions, which aligns with the industry's goals for sustainability and operational efficiency in the construction materials sector.
What challenges does the Casing Cementation Hardware Industry face during its growth?
- A significant challenge affecting industry growth is the fluctuation in oil and gas prices, which impacts investment decisions.
The casing cementation hardware market is highly sensitive to fluctuations in oil and gas prices. Price volatility creates significant challenges for all stakeholders in the value chain. When prices fall, exploration and production companies often curtail capital expenditures, leading to fewer drilling projects and a corresponding drop in demand for hardware like float equipment and centralizers. This market contraction forces manufacturers to reduce costs and optimize operations to remain competitive. Because production expenses are largely fixed, declining crude oil prices negatively impact the profitability of upstream companies, leading to project delays or cancellations. This directly diminishes long-term demand for casing and cementation hardware. The APAC region is poised to contribute 18.25% to the market's growth.Competition from alternative energy sources presents a growing challenge to the casing cementation hardware market. As the global focus shifts toward cleaner energy systems, the traditional fossil fuel industry faces mounting pressure. Capital is increasingly being redirected from oil and gas exploration to renewable energy projects, which reduces the number of new drilling operations and shrinks the market for cementation hardware. Stricter climate policies and net-zero commitments further discourage exploration in certain regions. Technological advancements are also making renewables more cost-competitive, lessening the reliance on oil and gas. This trend, combined with market volatility, is prompting oilfield service companies to diversify, sometimes at the expense of conventional hardware segments.
Exclusive Customer Landscape
The casing cementation hardware market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the casing cementation hardware market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Key Companies & Market Insights
Companies are implementing various strategies, such as strategic alliances, casing cementation hardware market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Baker Hughes Co. - The company provides cementing equipment engineered for oil and gas exploration activities, where casing pipe is installed at various depths during the drilling process.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
- Baker Hughes Co.
- Centek Holdings Ltd.
- DRILLING TOOLS INTERNATIONAL
- Drillstar Industries
- Ferro-Tube Oil Tools Co. LP
- Forum Energy Technologies Inc.
- Halliburton Co.
- Innovex
- Nabors Industries Ltd.
- Neoz Energy Pvt Ltd.
- NOV Inc.
- Schlumberger Ltd.
- Summit Casing Equipment
- Tenaris SA
- TMK
- Trican Well Service Ltd.
- Vallourec SA
- Varel Energy Solutions
- Weatherford International Plc
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Recent Development and News in Casing Cementation Hardware Market
In February 2024, Halliburton Co. introduced the SpydeFire-E, a fully electric-operated deep-set, single-trip multi-zone firing head. This technology is designed to improve the efficiency and safety of well completions by enabling operators to selectively perforate multiple zones in a single trip downhole, which can significantly reduce rig time and associated costs.In April 2024, Baker Hughes Co. was awarded a major contract by an international energy company for the supply of its advanced well construction and completions equipment. The scope includes liner hangers, cementing equipment, and associated services for a significant deepwater project, underscoring the demand for high-specification hardware in complex offshore environments.In March 2024, Schlumberger Ltd. (SLB) announced the commercial launch of its new dissolvable plug-and-perf system. This technology utilizes advanced degradable materials that eliminate the need for mechanical intervention to mill out plugs after fracturing operations, thereby accelerating well completion times and reducing operational costs, particularly in long horizontal wells.
Research Analyst Overview
The global casing cementation hardware market revolves around ensuring well integrity throughout the well construction phase. A successful primary cementing operation depends on core casing hardware and cementation hardware to establish a durable annular barrier. This involves precise deployment of float equipment, such as guide shoes and float collars, along with cementing plugs. The strategic placement of centralizers, including both bow spring centralizer and rigid centralizer types, secured by stop collars, is crucial for achieving uniform cement sheaths. This comprehensive approach to zonal isolation is fundamental to mitigating risks like wellbore instability, cementing failure, and sustained casing pressure, ensuring long-term wellbore assurance with support from integrated tubular running services.Market dynamics are increasingly shaped by operations in demanding contexts like HPHT environments, where hardware must resist thermal expansion, mechanical stress, and chemical corrosion. This evolution is fostering advanced cementation hardware such as stage cementing tools and complex liner hanger systems featuring drill-in capabilities. Specialized components like the casing packer collar and sub-surface release plugs are integral to intricate well designs. The market is observing an increase in demand of nearly 5% annually, driven by the adoption of technologies like hydro form centralizers and flow control valves. Furthermore, integrating downhole sensors for post-placement verification via ultrasonic cement inspection is becoming critical for confirming wellbore assurance and optimizing reservoir connectivity, especially in operations utilizing managed pressure drilling.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Casing Cementation Hardware Market insights. See full methodology.
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Market Scope
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Report Coverage
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Details
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Page number
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293
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Base year
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2024
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Historic period
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2019 - 2023 |
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Forecast period
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2025-2029
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Growth momentum & CAGR
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Accelerating at a CAGR of 5.9%
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Market growth 2024-2029
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USD 3.6 billion
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Market structure
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Fragmented
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YoY growth 2024-2029(%)
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5.5%
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Key countries
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US, Canada, Mexico, Russia, UK, Norway, The Netherlands, Germany, Spain, China, Australia, India, Malaysia, Indonesia, Japan, Saudi Arabia, UAE, Iraq, Algeria, Egypt, Brazil, Argentina, Chile
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Competitive landscape
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Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
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What are the Key Data Covered in this Casing Cementation Hardware Market Research and Growth Report?
- CAGR of the Casing Cementation Hardware industry during the forecast period
- Detailed information on factors that will drive the growth and forecasting between 2024 and 2029
- Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
- Accurate predictions about upcoming growth and trends and changes in consumer behaviour
- Growth of the market across North America, Europe, APAC, Middle East and Africa, South America
- Thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the casing cementation hardware market growth of industry companies
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1 Executive Summary
- 1 Executive Summary
- 1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Market Segmentation by Material
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
- 2 Technavio Analysis
- 2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- 2.2 Criticality of inputs and Factors of differentiation
- Chart on Overview on criticality of inputs and factors of differentiation
- 2.3 Factors of disruption
- Chart on Overview on factors of disruption
- 2.4 Impact of drivers and challenges
- Chart on Impact of drivers and challenges in 2024 and 2029
3 Market Landscape
- 3 Market Landscape
- 3.1 Market ecosystem
- Chart on Parent Market
- Data Table on - Parent Market
- 3.2 Market characteristics
- Chart on Market characteristics analysis
- 3.3 Value chain analysis
- Chart on Value chain analysis
4 Market Sizing
- 4 Market Sizing
- 4.1 Market definition
- Data Table on Offerings of companies included in the market definition
- 4.2 Market segment analysis
- 4.3 Market size 2024
- 4.4 Market outlook: Forecast for 2024-2029
- Chart on Global - Market size and forecast 2024-2029 ($ billion)
- Data Table on Global - Market size and forecast 2024-2029 ($ billion)
- Chart on Global Market: Year-over-year growth 2024-2029 (%)
- Data Table on Global Market: Year-over-year growth 2024-2029 (%)
5 Historic Market Size
- 5 Historic Market Size
- 5.1 Global Casing Cementation Hardware Market 2019 - 2023
- Historic Market Size - Data Table on Global Casing Cementation Hardware Market 2019 - 2023 ($ billion)
- 5.2 Application segment analysis 2019 - 2023
- Historic Market Size - Application Segment 2019 - 2023 ($ billion)
- 5.3 Type segment analysis 2019 - 2023
- Historic Market Size - Type Segment 2019 - 2023 ($ billion)
- 5.4 Material segment analysis 2019 - 2023
- Historic Market Size - Material Segment 2019 - 2023 ($ billion)
- 5.5 Geography segment analysis 2019 - 2023
- Historic Market Size - Geography Segment 2019 - 2023 ($ billion)
- 5.6 Country segment analysis 2019 - 2023
- Historic Market Size - Country Segment 2019 - 2023 ($ billion)
6 Qualitative Analysis
- 6 Qualitative Analysis
- 6.1 The AI impact on Global Casing Cementation Hardware Market
7 Five Forces Analysis
- 7 Five Forces Analysis
- 7.1 Five forces summary
- Five forces analysis - Comparison between 2024 and 2029
- 7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2024 and 2029
- 7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2024 and 2029
- 7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2024 and 2029
- 7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2024 and 2029
- 7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2024 and 2029
- 7.7 Market condition
- Chart on Market condition - Five forces 2024 and 2029
8 Market Segmentation by Application
- 8 Market Segmentation by Application
- 8.1 Market segments
- Chart on Application - Market share 2024-2029 (%)
- Data Table on Application - Market share 2024-2029 (%)
- 8.2 Comparison by Application
- Chart on Comparison by Application
- Data Table on Comparison by Application
- 8.3 Onshore - Market size and forecast 2024-2029
- Chart on Onshore - Market size and forecast 2024-2029 ($ billion)
- Data Table on Onshore - Market size and forecast 2024-2029 ($ billion)
- Chart on Onshore - Year-over-year growth 2024-2029 (%)
- Data Table on Onshore - Year-over-year growth 2024-2029 (%)
- 8.4 Offshore - Market size and forecast 2024-2029
- Chart on Offshore - Market size and forecast 2024-2029 ($ billion)
- Data Table on Offshore - Market size and forecast 2024-2029 ($ billion)
- Chart on Offshore - Year-over-year growth 2024-2029 (%)
- Data Table on Offshore - Year-over-year growth 2024-2029 (%)
- 8.5 Market opportunity by Application
- Market opportunity by Application ($ billion)
- Data Table on Market opportunity by Application ($ billion)
9 Market Segmentation by Type
- 9 Market Segmentation by Type
- 9.1 Market segments
- Chart on Type - Market share 2024-2029 (%)
- Data Table on Type - Market share 2024-2029 (%)
- 9.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type
- 9.3 Casing hardware - Market size and forecast 2024-2029
- Chart on Casing hardware - Market size and forecast 2024-2029 ($ billion)
- Data Table on Casing hardware - Market size and forecast 2024-2029 ($ billion)
- Chart on Casing hardware - Year-over-year growth 2024-2029 (%)
- Data Table on Casing hardware - Year-over-year growth 2024-2029 (%)
- 9.4 Cementation hardware - Market size and forecast 2024-2029
- Chart on Cementation hardware - Market size and forecast 2024-2029 ($ billion)
- Data Table on Cementation hardware - Market size and forecast 2024-2029 ($ billion)
- Chart on Cementation hardware - Year-over-year growth 2024-2029 (%)
- Data Table on Cementation hardware - Year-over-year growth 2024-2029 (%)
- 9.5 Market opportunity by Type
- Market opportunity by Type ($ billion)
- Data Table on Market opportunity by Type ($ billion)
10 Market Segmentation by Material
- 10 Market Segmentation by Material
- 10.1 Market segments
- Chart on Material - Market share 2024-2029 (%)
- Data Table on Material - Market share 2024-2029 (%)
- 10.2 Comparison by Material
- Chart on Comparison by Material
- Data Table on Comparison by Material
- 10.3 Steel - Market size and forecast 2024-2029
- Chart on Steel - Market size and forecast 2024-2029 ($ billion)
- Data Table on Steel - Market size and forecast 2024-2029 ($ billion)
- Chart on Steel - Year-over-year growth 2024-2029 (%)
- Data Table on Steel - Year-over-year growth 2024-2029 (%)
- 10.4 Aluminum - Market size and forecast 2024-2029
- Chart on Aluminum - Market size and forecast 2024-2029 ($ billion)
- Data Table on Aluminum - Market size and forecast 2024-2029 ($ billion)
- Chart on Aluminum - Year-over-year growth 2024-2029 (%)
- Data Table on Aluminum - Year-over-year growth 2024-2029 (%)
- 10.5 Composite materials - Market size and forecast 2024-2029
- Chart on Composite materials - Market size and forecast 2024-2029 ($ billion)
- Data Table on Composite materials - Market size and forecast 2024-2029 ($ billion)
- Chart on Composite materials - Year-over-year growth 2024-2029 (%)
- Data Table on Composite materials - Year-over-year growth 2024-2029 (%)
- 10.6 Others - Market size and forecast 2024-2029
- Chart on Others - Market size and forecast 2024-2029 ($ billion)
- Data Table on Others - Market size and forecast 2024-2029 ($ billion)
- Chart on Others - Year-over-year growth 2024-2029 (%)
- Data Table on Others - Year-over-year growth 2024-2029 (%)
- 10.7 Market opportunity by Material
- Market opportunity by Material ($ billion)
- Data Table on Market opportunity by Material ($ billion)
11 Customer Landscape
- 11 Customer Landscape
- 11.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
12 Geographic Landscape
- 12 Geographic Landscape
- 12.1 Geographic segmentation
- Chart on Market share by geography 2024-2029 (%)
- Data Table on Market share by geography 2024-2029 (%)
- 12.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
- 12.3 North America - Market size and forecast 2024-2029
- Chart on North America - Market size and forecast 2024-2029 ($ billion)
- Data Table on North America - Market size and forecast 2024-2029 ($ billion)
- Chart on North America - Year-over-year growth 2024-2029 (%)
- Data Table on North America - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - North America
- Data Table on Regional Comparison - North America
- 12.3.1 US - Market size and forecast 2024-2029
- Chart on US - Market size and forecast 2024-2029 ($ billion)
- Data Table on US - Market size and forecast 2024-2029 ($ billion)
- Chart on US - Year-over-year growth 2024-2029 (%)
- Data Table on US - Year-over-year growth 2024-2029 (%)
- 12.3.2 Canada - Market size and forecast 2024-2029
- Chart on Canada - Market size and forecast 2024-2029 ($ billion)
- Data Table on Canada - Market size and forecast 2024-2029 ($ billion)
- Chart on Canada - Year-over-year growth 2024-2029 (%)
- Data Table on Canada - Year-over-year growth 2024-2029 (%)
- 12.3.3 Mexico - Market size and forecast 2024-2029
- Chart on Mexico - Market size and forecast 2024-2029 ($ billion)
- Data Table on Mexico - Market size and forecast 2024-2029 ($ billion)
- Chart on Mexico - Year-over-year growth 2024-2029 (%)
- Data Table on Mexico - Year-over-year growth 2024-2029 (%)
- 12.4 Europe - Market size and forecast 2024-2029
- Chart on Europe - Market size and forecast 2024-2029 ($ billion)
- Data Table on Europe - Market size and forecast 2024-2029 ($ billion)
- Chart on Europe - Year-over-year growth 2024-2029 (%)
- Data Table on Europe - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - Europe
- Data Table on Regional Comparison - Europe
- 12.4.1 Russia - Market size and forecast 2024-2029
- Chart on Russia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Russia - Market size and forecast 2024-2029 ($ billion)
- Chart on Russia - Year-over-year growth 2024-2029 (%)
- Data Table on Russia - Year-over-year growth 2024-2029 (%)
- 12.4.2 UK - Market size and forecast 2024-2029
- Chart on UK - Market size and forecast 2024-2029 ($ billion)
- Data Table on UK - Market size and forecast 2024-2029 ($ billion)
- Chart on UK - Year-over-year growth 2024-2029 (%)
- Data Table on UK - Year-over-year growth 2024-2029 (%)
- 12.4.3 Norway - Market size and forecast 2024-2029
- Chart on Norway - Market size and forecast 2024-2029 ($ billion)
- Data Table on Norway - Market size and forecast 2024-2029 ($ billion)
- Chart on Norway - Year-over-year growth 2024-2029 (%)
- Data Table on Norway - Year-over-year growth 2024-2029 (%)
- 12.4.4 The Netherlands - Market size and forecast 2024-2029
- Chart on The Netherlands - Market size and forecast 2024-2029 ($ billion)
- Data Table on The Netherlands - Market size and forecast 2024-2029 ($ billion)
- Chart on The Netherlands - Year-over-year growth 2024-2029 (%)
- Data Table on The Netherlands - Year-over-year growth 2024-2029 (%)
- 12.4.5 Germany - Market size and forecast 2024-2029
- Chart on Germany - Market size and forecast 2024-2029 ($ billion)
- Data Table on Germany - Market size and forecast 2024-2029 ($ billion)
- Chart on Germany - Year-over-year growth 2024-2029 (%)
- Data Table on Germany - Year-over-year growth 2024-2029 (%)
- 12.4.6 Spain - Market size and forecast 2024-2029
- Chart on Spain - Market size and forecast 2024-2029 ($ billion)
- Data Table on Spain - Market size and forecast 2024-2029 ($ billion)
- Chart on Spain - Year-over-year growth 2024-2029 (%)
- Data Table on Spain - Year-over-year growth 2024-2029 (%)
- 12.5 APAC - Market size and forecast 2024-2029
- Chart on APAC - Market size and forecast 2024-2029 ($ billion)
- Data Table on APAC - Market size and forecast 2024-2029 ($ billion)
- Chart on APAC - Year-over-year growth 2024-2029 (%)
- Data Table on APAC - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - APAC
- Data Table on Regional Comparison - APAC
- 12.5.1 China - Market size and forecast 2024-2029
- Chart on China - Market size and forecast 2024-2029 ($ billion)
- Data Table on China - Market size and forecast 2024-2029 ($ billion)
- Chart on China - Year-over-year growth 2024-2029 (%)
- Data Table on China - Year-over-year growth 2024-2029 (%)
- 12.5.2 Australia - Market size and forecast 2024-2029
- Chart on Australia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Australia - Market size and forecast 2024-2029 ($ billion)
- Chart on Australia - Year-over-year growth 2024-2029 (%)
- Data Table on Australia - Year-over-year growth 2024-2029 (%)
- 12.5.3 India - Market size and forecast 2024-2029
- Chart on India - Market size and forecast 2024-2029 ($ billion)
- Data Table on India - Market size and forecast 2024-2029 ($ billion)
- Chart on India - Year-over-year growth 2024-2029 (%)
- Data Table on India - Year-over-year growth 2024-2029 (%)
- 12.5.4 Malaysia - Market size and forecast 2024-2029
- Chart on Malaysia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Malaysia - Market size and forecast 2024-2029 ($ billion)
- Chart on Malaysia - Year-over-year growth 2024-2029 (%)
- Data Table on Malaysia - Year-over-year growth 2024-2029 (%)
- 12.5.5 Indonesia - Market size and forecast 2024-2029
- Chart on Indonesia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Indonesia - Market size and forecast 2024-2029 ($ billion)
- Chart on Indonesia - Year-over-year growth 2024-2029 (%)
- Data Table on Indonesia - Year-over-year growth 2024-2029 (%)
- 12.5.6 Japan - Market size and forecast 2024-2029
- Chart on Japan - Market size and forecast 2024-2029 ($ billion)
- Data Table on Japan - Market size and forecast 2024-2029 ($ billion)
- Chart on Japan - Year-over-year growth 2024-2029 (%)
- Data Table on Japan - Year-over-year growth 2024-2029 (%)
- 12.6 Middle East and Africa - Market size and forecast 2024-2029
- Chart on Middle East and Africa - Market size and forecast 2024-2029 ($ billion)
- Data Table on Middle East and Africa - Market size and forecast 2024-2029 ($ billion)
- Chart on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - Middle East and Africa
- Data Table on Regional Comparison - Middle East and Africa
- 12.6.1 Saudi Arabia - Market size and forecast 2024-2029
- Chart on Saudi Arabia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Saudi Arabia - Market size and forecast 2024-2029 ($ billion)
- Chart on Saudi Arabia - Year-over-year growth 2024-2029 (%)
- Data Table on Saudi Arabia - Year-over-year growth 2024-2029 (%)
- 12.6.2 UAE - Market size and forecast 2024-2029
- Chart on UAE - Market size and forecast 2024-2029 ($ billion)
- Data Table on UAE - Market size and forecast 2024-2029 ($ billion)
- Chart on UAE - Year-over-year growth 2024-2029 (%)
- Data Table on UAE - Year-over-year growth 2024-2029 (%)
- 12.6.3 Iraq - Market size and forecast 2024-2029
- Chart on Iraq - Market size and forecast 2024-2029 ($ billion)
- Data Table on Iraq - Market size and forecast 2024-2029 ($ billion)
- Chart on Iraq - Year-over-year growth 2024-2029 (%)
- Data Table on Iraq - Year-over-year growth 2024-2029 (%)
- 12.6.4 Algeria - Market size and forecast 2024-2029
- Chart on Algeria - Market size and forecast 2024-2029 ($ billion)
- Data Table on Algeria - Market size and forecast 2024-2029 ($ billion)
- Chart on Algeria - Year-over-year growth 2024-2029 (%)
- Data Table on Algeria - Year-over-year growth 2024-2029 (%)
- 12.6.5 Egypt - Market size and forecast 2024-2029
- Chart on Egypt - Market size and forecast 2024-2029 ($ billion)
- Data Table on Egypt - Market size and forecast 2024-2029 ($ billion)
- Chart on Egypt - Year-over-year growth 2024-2029 (%)
- Data Table on Egypt - Year-over-year growth 2024-2029 (%)
- 12.7 South America - Market size and forecast 2024-2029
- Chart on South America - Market size and forecast 2024-2029 ($ billion)
- Data Table on South America - Market size and forecast 2024-2029 ($ billion)
- Chart on South America - Year-over-year growth 2024-2029 (%)
- Data Table on South America - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - South America
- Data Table on Regional Comparison - South America
- 12.7.1 Brazil - Market size and forecast 2024-2029
- Chart on Brazil - Market size and forecast 2024-2029 ($ billion)
- Data Table on Brazil - Market size and forecast 2024-2029 ($ billion)
- Chart on Brazil - Year-over-year growth 2024-2029 (%)
- Data Table on Brazil - Year-over-year growth 2024-2029 (%)
- 12.7.2 Argentina - Market size and forecast 2024-2029
- Chart on Argentina - Market size and forecast 2024-2029 ($ billion)
- Data Table on Argentina - Market size and forecast 2024-2029 ($ billion)
- Chart on Argentina - Year-over-year growth 2024-2029 (%)
- Data Table on Argentina - Year-over-year growth 2024-2029 (%)
- 12.7.3 Chile - Market size and forecast 2024-2029
- Chart on Chile - Market size and forecast 2024-2029 ($ billion)
- Data Table on Chile - Market size and forecast 2024-2029 ($ billion)
- Chart on Chile - Year-over-year growth 2024-2029 (%)
- Data Table on Chile - Year-over-year growth 2024-2029 (%)
- 12.8 Market opportunity by geography
- Market opportunity by geography ($ billion)
- Data Tables on Market opportunity by geography ($ billion)
13 Drivers, Challenges, and Opportunity
- 13 Drivers, Challenges, and Opportunity
- 13.1 Market drivers
- Increasing investments in upstream oil and gas operations
- Rise in global demand for oil and gas
- Increasing active rig count
- 13.2 Market challenges
- Fluctuation in oil and gas prices
- Competition from alternative energy sources
- Risks associated with well drilling and completion operations
- 13.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
- 13.4 Market opportunities
- Development of intelligent well-completion technologies
- Declining cost of raw materials
- Rise in deepwater and ultra-deepwater E and P activities
14 Competitive Landscape
- 14 Competitive Landscape
- 14.1 Overview
- 14.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
- 14.3 Landscape disruption
- Overview on factors of disruption
- 14.4 Industry risks
- Impact of key risks on business
15 Competitive Analysis
- 15 Competitive Analysis
- 15.1 Companies profiled
- 15.2 Company ranking index
- 15.3 Market positioning of companies
- Matrix on companies position and classification
- 15.4 Baker Hughes Co.
- Baker Hughes Co. - Overview
- Baker Hughes Co. - Business segments
- Baker Hughes Co. - Key news
- Baker Hughes Co. - Key offerings
- Baker Hughes Co. - Segment focus
- SWOT
- 15.5 Centek Holdings Ltd.
- Centek Holdings Ltd. - Overview
- Centek Holdings Ltd. - Product / Service
- Centek Holdings Ltd. - Key offerings
- SWOT
- 15.6 Forum Energy Technologies Inc.
- Forum Energy Technologies Inc. - Overview
- Forum Energy Technologies Inc. - Business segments
- Forum Energy Technologies Inc. - Key news
- Forum Energy Technologies Inc. - Key offerings
- Forum Energy Technologies Inc. - Segment focus
- SWOT
- 15.7 Halliburton Co.
- Halliburton Co. - Overview
- Halliburton Co. - Business segments
- Halliburton Co. - Key news
- Halliburton Co. - Key offerings
- Halliburton Co. - Segment focus
- SWOT
- 15.8 Innovex
- Innovex - Overview
- Innovex - Product / Service
- Innovex - Key offerings
- SWOT
- 15.9 Nabors Industries Ltd.
- Nabors Industries Ltd. - Overview
- Nabors Industries Ltd. - Business segments
- Nabors Industries Ltd. - Key news
- Nabors Industries Ltd. - Key offerings
- Nabors Industries Ltd. - Segment focus
- SWOT
- 15.10 Neoz Energy Pvt Ltd.
- Neoz Energy Pvt Ltd. - Overview
- Neoz Energy Pvt Ltd. - Product / Service
- Neoz Energy Pvt Ltd. - Key offerings
- SWOT
- 15.11 NOV Inc.
- NOV Inc. - Overview
- NOV Inc. - Business segments
- NOV Inc. - Key news
- NOV Inc. - Key offerings
- NOV Inc. - Segment focus
- SWOT
- 15.12 Summit Casing Equipment
- Summit Casing Equipment - Overview
- Summit Casing Equipment - Product / Service
- Summit Casing Equipment - Key offerings
- SWOT
- 15.13 Tenaris SA
- Tenaris SA - Overview
- Tenaris SA - Product / Service
- Tenaris SA - Key news
- Tenaris SA - Key offerings
- SWOT
- 15.14 TMK
- TMK - Overview
- TMK - Product / Service
- TMK - Key offerings
- SWOT
- 15.15 Trican Well Service Ltd.
- Trican Well Service Ltd. - Overview
- Trican Well Service Ltd. - Product / Service
- Trican Well Service Ltd. - Key offerings
- SWOT
- 15.16 Vallourec SA
- Vallourec SA - Overview
- Vallourec SA - Business segments
- Vallourec SA - Key offerings
- Vallourec SA - Segment focus
- SWOT
- 15.17 Varel Energy Solutions
- Varel Energy Solutions - Overview
- Varel Energy Solutions - Product / Service
- Varel Energy Solutions - Key offerings
- SWOT
- 15.18 Weatherford International Plc
- Weatherford International Plc - Overview
- Weatherford International Plc - Business segments
- Weatherford International Plc - Key news
- Weatherford International Plc - Key offerings
- Weatherford International Plc - Segment focus
- SWOT
16 Appendix
- 16 Appendix
- 16.1 Scope of the report
- Market definition
- Objectives
- Notes and caveats
- 16.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
- 16.3 Currency conversion rates for US$
- Currency conversion rates for US$
- 16.4 Research methodology
- 16.5 Data procurement
- 16.6 Data validation
- 16.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
- 16.8 Data synthesis
- 16.9 360 degree market analysis
- 360 degree market analysis
- 16.10 List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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