Casing Drilling Market 2026: Import-Export, Industry Chain Structure and Development Opportunities |Schlumberger Limited, Halliburton Energy Services, Inc. etc.

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.

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.

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.

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.

The offshore segment is projected to grow with a significant CAGR during the forecast period. Depleting onshore oil reserves and stringent regulations on onshore operating drilling operations is subsequently increasing the extraction of oil and gas from offshore reservoirs. Rising adoption of advanced technologies such as subsea processing and unmanned tiebacks has enhanced the economics of oil exploration and production from deepwater and harsh environment offshore fields, further driving the segment growth. On the other hand, the oil and gas industry segment is projected to witness lucrative growth on account of reducing production costs (by 30­–40%), improving the supply chain, and enhancing design concepts.

North America’s casing drilling market was valued at USD 366.5 million in 2019 and is expected to reach USD 547.3 million by 2025. The region holds a prominent share in the global oil and gas industry, which is projected to double in the coming years due to burgeoning shale gas operations, especially in the U.S. In 2018, the U.S. annual natural gas production was about 30.6 trillion cubic feet (Tcf), the highest ever recorded. Rising energy demand is subsequently increasing the drilling and intervention activities in the region. As per the BP Statistical Review of World Energy, in 2018, around 59.4% of total electricity was generated in the region using oil, natural gas, and coal.

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The Major Prominent Players Covered in this Report:
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. & More.

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

By Type, Casing pipe, Casing equipment, and services, Cementing equipment and services
By Application, Onshore, Offshore

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2019 to 2026, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key Casing Drilling Market Trends:
- The report identifies, determines, and forecasts the Global Casing Drilling Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Casing Drilling Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Casing Drilling Market.

Key Questions Answered in The Report:
What will the Casing Drilling market growth rate?
What are the key factors driving the global Casing Drilling market?
Who are the key manufacturers in the Casing Drilling market space?
What are the market opportunities, market risk, and market overview of the Casing Drilling market?
What are sales, revenue, and price analysis of top manufacturers of the Casing Drilling market?
Who are the distributors, traders, and dealers of the Casing Drilling market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Casing Drilling Industry?
What are sales, revenue, and price analysis by regions of the Casing Drilling industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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