According to Stratistics MRC, the Global Well Casing & Cementing Market is accounted for $7.86 billion in 2017 and is expected to reach $13.86 billion by 2026 growing at a CAGR of 6.5%. Factors such as demand from the onshore & offshore fields in the Gulf of Mexico and continuous shale developments are some of the key driving factors for the market growth. However, decreasing oil demand from Europe is hampering market growth.
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A good casing is a lining that is installed in an oil well once it is drilled and surrounds the well entirely. The casing is typically hollow steel pipe that lines the inside of the wellbore Well cementing is the process of introducing cement to the annular space between the well-bore and casing or to the annular space between two successive casing strings.
Based on the application, the offshore segment is expected to grow at the fastest rate during the forecast period. The growth of this segment is mainly driven by the cost decrease and digitalization of the oil & gas offshore projects. By geography, North America is estimated to be the largest market during forecast period. The market is driven by the growth in alternative resources in the US and Canada and demand from the onshore & offshore fields in the Gulf of Mexico.
Some of the key players in the Well Casing & Cementing market include Halliburton, Tenaris, TMK Group, National Oilwell Varco, Frank’s International (Blackhawk Specialty Tools), Schlumberger Limited, Centek Group, Baker Hughes, A GE Company, Innovex Downhole Solutions, Weatherford, Vallourec, Nabors Industries Ltd., and Trican Well Service Ltd.
Equipment & Service Types Covered:
• Cementing Equipment & Services
• Casing Equipment & Services
Well Types Covered:
• Vertical Well
• Horizontal Well
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Operation Types Covered:
• Remedial Cementing
• Primary Cementing
• Other Operation Types
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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