Press release
Wellhead Equipment Market Estimated to Reach US$ 9.5 Billion Globally By 2027 | CAGR of 6.5%
Wellhead Equipment Market
Wellhead equipment is permanently installed at the surface of an oil or gas well. It consists of various components, including crosses, tees, tubing, head spools, casing spools, heads, valves, flanges, and chokes. Wellhead equipment is installed where casings are terminated by hanging them with the help of casing hangers and seals. In addition, wellhead equipment provides ancillary support as it consists of a rim that is attached to the casings to ensure safe drilling and completion by keeping the pressure in the well under control. It also serves as the endpoint of the casing and tubing strings, control pressure, and provide access to the main casing.
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Global Wellhead Equipment Market Trends:
The global wellhead equipment market is driven by the increasing redevelopment of mature oil and gas wells. Wellhead equipment is utilized to control oil flow rates, which reduce the pressure to protect the equipment and also guides the refining process of oil. In addition to this, the growing demand for oil and gas is creating opportunities in offshore deep-sea beds, thus facilitating the demand for wellhead equipment. Furthermore, technological development in wellhead equipment, such as the introduction of nested hanger configuration and the ability to drill without dismantling blowout preventer (BOP), is also fueling the market growth. For instance, ABB Inc., a Swiss-Swedish MNC, has launched ABB ability wellhead manager equipped with a versatile new cloud-based visualization system for oil and gas operators.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
• Aker Solutions ASA
• Baker Hughes
• Cameron International Corporation
• Forum Energy Technologies Inc.
• Nabors Industries Ltd.
• National Oilwell Varco Inc.
• Oil States International Inc
Wellhead Equipment Market Segmentation:
Our report has categorized the market based on region, component, application and sector.
Breakup by Component:
• Hangers
• Flanges
• Master Valve
• Choke
• Others
Breakup by Application:
• Onshore
• Offshore
Breakup by Sector:
• OEM
• Aftermarket
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: We are updating our reports, If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.
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The global Wellhead Equipment market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of xx%% in the forecast period of 2020 to 2025 and will expected to reach USD xx million by 2025, from USD xx million in 2019.
Market segmentation
Wellhead Equipment market is split by Type and by Application. For the period 2015-2025, the growth among segments…
