This report provides exclusive insights into the COVID-19 impact on the Well Casing and Cementing Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Well Casing and Cementing Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Well Casing and Cementing Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by
Infinium Global Research on well casing and cementing market provides in-depth
analysis of segments and sub-segments in the global as well as regional well
casing and cementing market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional well casing and
cementing market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of global well
casing and cementing market. According to the report, the global well casing
and cementing market is projected to grow at a CAGR of 4.7% over the forecast
period of 2019-2025.
The oil and gas industry is
constantly seeking cost-effective methods of drilling and producing oil and gas
wells to optimize production and maximize profits. After drilling for oil or
gas exploration casing is done to stabilize and keep the sides of the well from
caving in. It protects the well stream from external contaminants and prevents
groundwater from getting polluted by oil or gas produced. Well cementing is the
most significant aspects of the drilling activity and its complete process. It
holds the well, preventing the slurry from coming out of the walls. The key
function of well cementing is to cover the inner line of the well, control
corrosion, and provide uniformity and strength to pipes.
Worldwide new oilfield
discoveries are the major driving factor of the well casing and cementing
market. Furthermore, increasing demand for oil and gas is also one of the major
driving factors of the market. The demand for well casing and cementing is
increasing due to increased drilling activities along with shale developments
in North America, Asia Pacific, and some parts of South & Central America.
The factors such as rise in both offshore and onshore oil and gas exploration
activities, shale developments, stimulating oil prices expediting upstream investments
are also driving the market growth. However, decreasing oil demand from Europe
hamper market growth. Moreover, technological developments in carrying out
well-drilling processes are anticipated to provide growth opportunities to the
market players in the future.
Geographically, North America
dominates the global well casing and cementing market. The casing activities in
North America is rapidly growing due to the stabilized WTI crude oil prices
since 2016. The continuous shale activities are driving the demand for well
casing and cementing in this region. The presence of major industry players is
also driving the market growth in the North America region.
The report on the global well
casing and cementing market covers segments such as type, equipment &
service type, operation type, well type, and applications. On the basis of
type, the sub-markets include casing, and cementing. On the basis of equipment
& service type, the sub-markets include casing equipment & services,
and cementing equipment & services. On the basis of operation type, the
sub-markets include primary cementing, remedial cementing, and other operation
types. On the basis of well type, the sub-markets include horizontal well, and
vertical well. On the basis of applications, the sub-markets include onshore,
The report provides profiles of
the companies in the market such as Halliburton, Schlumberger Limited,
Weatherford International plc, National Oilwell Varco, Tenaris S.A., Vallourec
S.A., TMK Group, Trican Well Service Ltd., Frank’s International N.V., Innovex
Downhole Solutions, Inc., and other companies.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of well casing and cementing market. Moreover, the study highlights
current market trends and provides forecast from 2019-2025. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.