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The sliding sleeves market size has the potential to grow by USD 743.19 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by application (onshore and offshore) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Baker Hughes, a GE company, D&L Oil Tools, Halliburton Co., National Oilwell Varco Inc., NCS Multistage Holdings Inc., Nine Energy Service, Inc., Sapex Group Ltd., Schlumberger Ltd., Schoeller-Bleckmann Oilfield Equipment AG, and Weatherford International plc.
The market is fragmented. Vendors are opting for inorganic growth strategies such as mergers and acquisitions (M&A), joint ventures, contracts, agreements as well as partnerships. to stay buoyant in the global sliding sleeves market. Nine Energy Service, Inc., Sapex Group Ltd., Schlumberger Ltd., Schoeller-Bleckmann Oilfield Equipment AG, and Weatherford International plc are some of the major market participants. Although the introduction of new oil and gas exploration policies will offer immense growth opportunities, the increased adoption of renewable sources of energy will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this sliding sleeves market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this sliding sleeves market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
North America will offer several growth opportunities to market vendors during the forecast period. The shale revolution and the rising demand for crude oil from the US and Canada will significantly drive sliding sleeves market growth in this region over the forecast period.
Almost 49% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for sliding sleeves in North America. Market growth in this region will be faster than the growth of the market in other regions.
The US has imposed sanctions on Iran, which led to a significant cut down in the global crude oil supply, prompting new drilling activities in several countries to counter the increase in crude oil costs. Furthermore, the increased focus on unconventional reserves such as shale gas and tar sands reserves is one of the significant factors driving the growth of the onshore segment in the sliding sleeves market.
The sliding sleeves market share growth by the onshore segment will be slower than the growth of the market by the offshore segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the sliding sleeves market size.
The introduction of new oil and gas exploration policies in countries such as India, Brazil, and Israel will be one of the primary growth drivers for the global sliding sleeves market. By introducing new policies, countries are attracting companies to explore their oil and gas fields. For instance, the changes in policies in Brazil by the federal government is encouraging investments in the oil and gas industry. Similarly, the government of India also modified its new exploration licensing policy-X (NELP-X) of 2014 for oil and gas exploration to hydrocarbon exploration and licensing policy (HELP). Moreover, the US government also introduced the US Federal offshore oil and gas leasing program for 2017-2022 to attract new investments from global players. Such policies will increase investments from players in the oil and gas industry, which will consequently fuel the adoption of sliding sleeves.
The adoption of new-generation automated drilling rigs is one of the key sliding sleeves market trends. The adoption of digitization involves the use of sensors in drilling tools and equipment, which, in turn, will create new growth opportunities for sliding sleeve manufacturers. Schlumberger and Nabors Industries already showcased their new rig concept that uses digital technology and integrates digital sensors in drilling and completion tools. Additionally, digitalization also helps in comparing the huge amount of recorded data to assist in effective decision-making. As a result of such factors, the market will register a CAGR of over 3% during 2020-2024.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendors covered
Appendix
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