CHICAGO, June 3, 2019 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets, 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. Increasing drilling activities along with shale developments in North America, Asia Pacific, and some parts of South & Central America are the driving factors for the Well Casing & Cementing Market, globally. The well completion procedure involves well casing & cementing as primary operations, which are directly affected by the rising exploration & production activities.
The cementing segment is expected to be the fastest growing Well Casing & Cementing Market, by type, during the forecast period.
The cementing segment of the Well Casing & Cementing Market is estimated to grow at the fastest rate during the forecast period. This is mainly because the cost of cementing operations is lower compared to the casing activities. Moreover, the process of well cementing is challenging as it requires a more technical skillset, thus demanding appropriate equipment and manual workforce. The cementing related equipment are costlier, although the volume used is less. Additionally, the cementing services do not have any alternative, unlike casing, where liner systems can be used as a substitute. Such factors propel the growth of cementing operations in the Well Casing & Cementing Market.
Browse in-depth TOC on "Well Casing & Cementing Market"
134 - Tables
55 - Figures
197 - Pages
Ask for PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=199239921
The primary cementing operation segment is expected to dominate the Well Casing & Cementing Market, by operation type, during the forecast period.
Primary cementing is the initial method undertaken to cement the casings and fit the equipment, giving tensile strength to the well. According to industry experts, primary cementing is a widely accepted practice, globally. The other cementing processes, which include remedial cementing and stage cementing, are undertaken only when primary cementing fails. Thus, in order to save capital and operational expenditures, primary cementing is done. Moreover, the increased horizontal drilling activities have provided market opportunities for primary cementing.
North America: The largest Well Casing & Cementing Market.
In this report, the Well Casing & Cementing Market has been analyzed with respect to 6 regions, namely, North America, South & Central America, Europe, Asia Pacific, Middle East, and Africa. According to the IEA, the US is determined to become the net exporter of energy by 2020; and to fulfill this objective, the oil production is being increased across the nation. Moreover, the US retained its position as a top oil producer in 2018, due to the shale revolution.
Speak to Analyst:
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=199239921
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Well Casing & Cementing Market.
Some of the key players are Schlumberger (US), Halliburton (US), NOV (US), Weatherford (US), and BHGE (US). The leading players are adopting various strategies to increase their share in the Well Casing & Cementing Market. Contracts & agreements has been a widely adopted strategy by the major players in the Well Casing & Cementing Market.
Related Reports:
Sand Control Systems Market by Application (Onshore and Offshore), Techniques (Gravel Pack, Frac Pack, Sand Screens, Inflow Control Devices), Well Completions Type (Cased Hole and Open Hole), and Region - Global Forecasts to 2022
North America Pressure Pumping Market by Type (Hydraulic Fracturing and Cementing), Resource Type (Conventional and Unconventional), Well Type (Horizontal and Vertical), and Country - Global Forecasts to 2021
Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/casing-cementation-hardware-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
