Wellhead Equipment Market Top Industry Expansion Strategies to Reach $7,991.8 Mn by 2026

Rise in exploration and drilling activities for oil around the globe, oil price recovery, and increase in redevelopment of mature oil wells fuel the global wellhead equipment market However, high-end technological developments in wellhead system are expected to pave the way for lucrative opportunities in the industry.

The manufacturers of wellhead equipment are focusing on business expansion and new projects as a strategy to increase their wellhead equipment market share. For instance, in February 2019, Integrated Equipment, Inc., a manufacturer of oilfield equipment received $9 million from Veritas Financial Partners for future growth.

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The global wellhead equipment market size was valued at $5.3 billion in 2018, and is projected to reach $7.9 billion by 2026, growing at a CAGR of 5.0% from 2019 to 2026.

The casing pools segment to dominate by 2026-
Based on type, the casing spools segment is accounted for nearly one-third of the global wellhead equipment market revenue in 2018 and is expected to lead the trail by the end of 2026.

Technological advancements to improve drilling efficiency in the oil & gas industry is expected to drive the segment growth. The tubing adapters segment, on the other hand, would manifest the fastest CAGR of 6.7% throughout the forecast period. Ongoing expansion of the oil & gas industries around the globe fuels the growth of the segment.

The onshore segment to maintain the dominant share-

Based on application, the onshore segment contributed to more than two-thirds of the global wellhead equipment market share in 2018 and is anticipated to maintain its top status by 2026. The same segment is also projected to register the fastest CAGR of 5.5% during the study period, owing to rise in investments in the onshore oil & gas exploration activities.

North America garnered the major share in 2018-

Based on geography, North America garnered the major share in 2018, generating around two-fifths of the global wellhead equipment market. The same region would also portray the fastest CAGR of 5.8% from 2019 to 2026. The growing number of petrochemical companies in the region propels the market growth.

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Top Players:
The key players profiled in the wellhead equipment market report include Delta Corporation, EthosEnergy Group Limited, Integrated Equipment, Jereh Oilfield Equipment, Jiangsu Sanyi Petroleum Equipment Co., Ltd, JMP Petroleum Technologies, Inc., Msp/drilex, Inc., Uztel S.A, Sunnda Corporation, and Weir Group.

Key Findings of the Study -
• The report provides an extensive analysis of the current and emerging wellhead equipment market trends and dynamics.
• Depending on type, the casing spools segment dominated the global market, in terms of revenue in 2018 and tubing adapters is projected to grow at a CAGR 6.7% during the forecast period.
• By application, the on-shore segment led the global market in 2018.
• North America is projected to register the highest growth rate in the coming years.
• The key market players within the wellhead equipment market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the wellhead equipment industry.
• In-depth analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
• The global wellhead equipment market forecast analysis from 2018 to 2026 is included in the report.

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