Market Research Future added New Report Named "Wellhead Equipment Market” 2019: Global Industry Analysis, Market Growth and Opportunity Assessment, Segmentation by Component (Hanger, Flange, Master Valve, Choke, and Others), Application (Onshore and Offshore), and Region (North America, Asia-Pacific, South America, and others)– Forecast till 2024. Wellhead Equipment Market is projected to reach USD 7.20 billion by 2024 and Growing at a Massive CAGR of 3.25% by Forecast 2024.
Global Wellhead Equipment Market Leading Players Analyzed are:
FMC Technologies (US), Baker Hughes (US), Weir (UK), Aker Solutions (Norway), Cameron International Corporation (US), Stream-Flo Industries Ltd (Canada), Wellhead Systems, Inc. (US), Oil States International, Inc. (US), National Oilwell Varco (US), Shanghai Elim Petroleum Machinery (China), Forum Energy Technologies (US), and Brace Tool (Canada)
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Wellhead Equipment Market Overview
A wellhead is an essential component used in the oil & gas industry, at the surface of a well to provides pressure containing interface for the drilling and production equipment. It is mainly used to connect the tubing and casing to an oil & gas pipeline. Casing heads, casing spools, tubing head spools, and crosses are some of the components of a wellhead equipment. The shift towards implementing an environmentally safe approach in oil & gas recovery, would positively impact the wellhead equipment market.
The wellhead equipment is widely used to control the pressure and provide access to the main casing or tubing. A wellhead equipment ensures safe drilling and completion by maintaining the pressure level in the well. A rise in demand for oil and gas supports higher investments into oil & gas exploration activities, including unconventional resource exploration. These factors would drive the growth of wellhead equipment market.
Global wellhead equipment market is expected to witness substantial growth during the forecast period owing to an increase in the exploration and production activities, across the world. According to the IEA, offshore oil production is estimated to reach 27.4 million barrels of oil equivalent per day (mboe) by 2040 from 26.4 million barrels of oil equivalent per day (mboe) in 2016. This would result in an increase in the demand for wellhead equipment, globally. Increasing interest in exploration of unconventional resources, such as shale oil, coal bed methane will also add to the growth of the global wellhead equipment market.
Wellhead Equipment Industry Segmental Analysis
Global wellhead equipment market has been segmented based on component, application, and region.
On the basis of component, the market is classified into hanger, flange, master valve, choke, and others.
The global wellhead equipment market is further segmented based on application, including onshore and offshore.
Based on region, the global wellhead equipment market cover growth opportunities and latest trends across North America, Europe, South America, Asia Pacific and the Middle East and Africa.
Global Wellhead Equipment Regional Market Analysis
Region wise, North America held the largest market share of the global wellhead equipment market in 2018. The wellhead equipment market in the oil & gas industry would mainly be driven by the growth of the unconventional resources in the countries, such as the US and Canada. The demand from the onshore & offshore fields in the Gulf of Mexico is also likely to add to the growth of the global wellhead equipment market during the forecast period.
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Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
List Of Tables
Table 1 Global Wellhead Equipment Market, By Region, 2018–2024 (USD Million)
Table 2 North America Wellhead Equipment Market, By Country, 2017–2024 (USD Million)
Table 3 Europe Wellhead Equipment Market, By Country, 2017–2024 (USD Million)
Table 4 Asia-Pacific Wellhead Equipment Market, By Country, 2017–2024 (USD Million)
Table 5 Middle East & Africa Wellhead Equipment Market, By Country, 2017–2024 (USD Million)
List Of Figures
Figure 1 Research Process Of MRFR
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
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