openPR Logo
Press release

Casing Drilling Market: Information by Type (Casing Pipe, Casing Equipment & Services, Cementing Equipment & Services), Application (Onshore, Offshore), and Region — Forecast till 2029

10-13-2021 06:09 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: StraitsResearch

Casing Drilling Market

Casing Drilling Market

Casing drilling is an alternative approach to conventional drilling, where downhole tools can be easily recovered and retrieved in minutes than conventional drilling. It aids in reducing mud loss, improving whole quality, and providing strength to the wellbore. Rising demand for primary energy is subsequently increasing the drilling and intervention activities across the globe, both onshore and offshore. Additionally, the leading players are incorporating advanced technologies to gain a competitive edge and increase the customer base.

Development of Unconventional Hydrocarbon Resources

The development of unconventional hydrocarbon resources has widened the drilling applications, further driving the market growth. The unconventional hydrocarbon resources include coal bed methane (CBM), coal mine methane (CMM), shale gas, and tight gas. In the U.S., the shale gas extraction activities rose by 23% in 2010, completely transforming the oil and gas industries. As per the report published by the Indian Government (National Institution for Transforming India), the production rate of the country is expected to account for nearly half of the total global natural gas supply by 2035. Technological advancement, an abundance of shale and tight gas resources, increasing adoption of unconventional hydrocarbon resources, and rising energy demand drive the market growth.
Casing Drilling Market: Segmentation

Casing Equipment and Services Segment to Grow With A CAGR Of 6.1%

Request For Sample Report : https://straitsresearch.com/report/casing-drilling-market/request-sample

The casing equipment and services segment held the largest market share of about USD 418.5 million in 2019 and is expected to grow with a CAGR of 6.1%. Casing equipment includes centralizer, casing collar, scratchers, float equipment, and casing slips, among others. The equipment plays a crucial role in making drilling and oil production economically viable. Halliburton and Schlumberger Limited are the leading players offering casing equipment globally.
Onshore Segment to Dominate the Market with A Value of Around USD 516 Million

The onshore segment dominated the casing drilling market, accounting for around USD 516 million in 2019. The onshore segment refers to the oil and gas exploration sites located across the globe. In 2016, the soaring production cost and low oil prices, petroleum exploration, and exploitation activities disrupted the supply and demand of energy. In the last three years, the exploration and production industry has recovered remarkably on account of rising demand for primary energy consumption and crude oil. Globally, over 70% of the total crude production is derived from onshore crude oil production, further driving the segment growth. However, shifting customer preference for renewable and alternate energy sources hamper the segment growth.
Venezuela and Brazil: Leading Contributors to South America’s Casing Drilling Market

The oil production in South America has been rising steadily since the early 1990s, with Venezuela and Brazil leading in terms of production capacity. As per the BP Statistical Review of World Energy, Venezuela reserves contribute about 17.5% of the global oil reserves, further grabbing the attention of the international players in the oil and gas industry. This scenario is subsequently surging investments in drilling and intervention activities in Venezuela and Brazil. For instance, in 2013, Chevron collaborated with YPF, Argentina’s national integrated oil company, to develop a field in Argentina. Both the companies signed an agreement to drill around 2000 wells by 2024, producing 100,000 barrels of oil equivalent per day.
Key Players

Schlumberger Limited
Halliburton Energy Services, Inc.
Baker Hughes, a GE Company LLC
China Oilfield Services Limited
Nabors Industries Ltd
Frank’s International N.V.
Centek Holdings Limited
National Oilwell Varco
Weatherford International plc
Vallourec
Tenaris S.A.

Buy Now :https://straitsresearch.com/buy-now/casing-drilling-market/global/

Casing Drilling Market Segmentation

By Type

Casing pipe
Casing equipment and services
Cementing equipment and services
By Application

Onshore
Offshore
By Region

North America
Europe
China
Asia-Pacific
South America
The Middle East and Africa

Contact Us:
Email: sales@straitsresearch.com
Address: 825 3rd Avenue, New York, NY, USA, 10022
Tel: +1 6464807505, +44 203 318 2846
Website: https://straitsresearch.com/

About Us :
StraitsResearch.com is a leading market research and market intelligence organization, specializing in research, analytics, and advisory services along with providing business insights & market research reports.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Casing Drilling Market: Information by Type (Casing Pipe, Casing Equipment & Services, Cementing Equipment & Services), Application (Onshore, Offshore), and Region — Forecast till 2029 here

News-ID: 2426735 • Views: 301

More Releases from StraitsResearch

Maleic Anhydride Market 2022: Explore Top Factors that Will Boost the Global Mar …
Maleic Anhydride Market The research methodology of Straits Research involves an ideal combination of primary and secondary research with the help of which the experts' inferences and calculations are derived. Our reports are revised at regular intervals to be able to give recent information to our clients and help them make efficient business decisions. The information provided in the reports is verified in terms of quality and reliability. The Major Players Covered in this
Blood Glucose Lancets Market Emerging Technological Growth, Future Growth and Bu …
Blood Glucose Lancets Market The research methodology of Straits Research involves an ideal combination of primary and secondary research with the help of which the experts' inferences and calculations are derived. Our reports are revised at regular intervals to be able to give recent information to our clients and help them make efficient business decisions. The information provided in the reports is verified in terms of quality and reliability. The Major Players Covered in
Graphic Film Market: Business Class Seating Type To Rising at 4.6% During 2022-2 …
Graphic Film Market The research methodology of Straits Research involves an ideal combination of primary and secondary research with the help of which the experts' inferences and calculations are derived. Our reports are revised at regular intervals to be able to give recent information to our clients and help them make efficient business decisions. The information provided in the reports is verified in terms of quality and reliability. The Major Players Covered in this
Digital PCR Market to See Wonderful Rise during 2022-2029 with High CAGR Growth
Digital PCR Market The research methodology of Straits Research involves an ideal combination of primary and secondary research with the help of which the experts' inferences and calculations are derived. Our reports are revised at regular intervals to be able to give recent information to our clients and help them make efficient business decisions. The information provided in the reports is verified in terms of quality and reliability. The Major Players Covered in this

All 5 Releases


More Releases for Casing

Seamless casing pipe vs ERW casing pipe
Seamless steel casing pipes-casing made of seamless steel pipe as raw material Seamless pipe refers to a steel pipe manufactured by four methods: hot rolling, cold rolling, hot drawing, and cold drawing. There is no weld seam on the pipe body itself. ERW casing pipe-casing made of electric welded pipe as raw material ERW pipe refers to a straight seam welded pipe manufactured through a high-frequency resistance welding process. The raw material steel
Global Casing Centralizer Market Size & Trends
According to a new market research report published by Global Market Estimates, the Global Casing Centralizer Market is projected to grow from USD 231.9 billion in 2022 to USD 650.7 billion in 2027 at a CAGR of 4.3% from 2022 to 2027. The major driver of a casing centralizer is its good and strong structure and durability which saves costs of production and ensures drilling quality. The main function of the
Man-made Sausage Casing Market, Business Will Grow in 2025, Prominent Players: K …
According to a new report published by Allied Market Research, titled, "Man-made Sausage Casing Market by Type (Animal, Collagen, Cellulose, Fibrous, and Polymer) and Application (Household and Industrial): Global Opportunity Analysis and Industry Forecast, 2018-2025" The report has offered an all-inclusive analysis of the global Man-made Sausage Casing Market taking into consideration all the crucial aspects like growth factors, constraints, market developments, top investment pockets, future prospects, and trends. At
Natural Casing Market Outlook to 2025 - Amjadi GmbH, World Casing Corporation, P …
UpMarketResearch offers a latest published report on Global Natural Casing Market industry analysis and forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains XX pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. Natural Casing Market research report delivers a close watch on leading competitors with strategic analysis, micro and
Global Pump Casing Market 2019- Wilo SE, KSB, CP Pumpen AG, Pump Casing, Andritz …
Global Pump Casing Market 2019-2026 QY Market Study offers an Seven-year forecast for the worldwide Pump Casing Market between 2019 and 2026. During a recently published report by QY Market Study, the global Pump Casing market is predicted to register a CAGR of cardinal throughout the forecast period. The first objective of the report is to supply insights on the advancements and chance within the Pump Casing market. The study demonstrates
Top leading players of the global sausage casing market are Almol (Australia) Ca …
Axiom Market Research & Consulting™ added a report on global sausage casing market. The global sausage casing market was valued at USD 6.8 billion in 2017, growing at a CAGR of 4.66% for the forecast period 2019 to 2024. The global market is estimated and forecasted in terms of revenue (USD million) generated by the sausage casing market. The global sausage casing market is segmented based on type, end user and