Global Well Casing & Cementing Market Trends, Applications, Analysis, Growth, and Forecast to 2028

Global Well Casing & Cementing Market: Overview

“The global Well Casing & Cementing Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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Well casing is lining such as hollow steel pipe which is installed in an oil well after drilling in order to support the well whereas well cementing is the process of using cement between the annular space of 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.

Increasing demand for well casing owing to low cost and digitalization of oil & gas offshore projects is a major factor expected to augment growth of the target market in the next coming years. Additionally, development in shale gas and increasing investments in oil & gas industry are factors expected to proliferate growth of the target market in the next 10 years.

Furthermore, increasing demand for well casing & cementing of new offshore drilling services in emerging countries is among some factors expected to fuel growth of the global well casing & cementing market in the next coming years.

However, stringent statutes and regulations regarding oilfield operations and carbon emissions, and decreasing oil demand in Europe are factors expected to restrain growth of the target market.

Technological advancements in well drilling processes and new oilfield discoveries are factors expected to offer lucrative opportunities for manufacturers operating in the target market.

Global Well Casing & Cementing Market: Segment Analysis

Among the equipment & service type segments, the casing equipment & services segment is expected to register highest growth in terms of value in the target market. Among the operation type segments, the primary cementing segment is expected to account for major revenue share in the years to come.

Among the well type segments, the horizontal well segment is expected to account for significant share in terms of revenue in the next 10 years. Among the application segments, the offshore segment is projected to register highest share in terms of revenue in the target market.

Global Well Casing & Cementing Market: Region Analysis

The North America well casing & cementing market is expected to register highest revenue share in the target market and projected to maintain its dominance in the next coming years. Growing unconventional resources, coupled with increasing demand for well casing & cementing in offshore and onshore oil fields are factors anticipated to drive growth of the well casing & cementing market in the region.

The well casing & cementing market in Asia Pacific is expected to register fastest CAGR in the global well casing & cementing market in the next 10 years. This is due to increasing demand for well casing & cementing in offshore oil field of Thailand and China.

Global Well Casing & Cementing Market Segmentation:

Segmentation on the Basis of Equipment & Service Type:

• Casing Equipment & Services
  • Casing Pipe
  • Casing Supporting Equipment & Services
• Cementing Equipment & Services
  • Cementing Head
  • Wiper Plug
  • Stage Tool
  • Others

Segmentation on the Basis of Operation Type:

• Primary Cementing
• Remedial Cementing
• Others

Segmentation on the Basis of Well Type:

• Horizontal Well
• Vertical Well

Segmentation on the Basis of Application:

• Onshore
• Offshore

Segmentation on the Basis of Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa