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Allied Market Research

Oil & Gas Packer Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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Aug 2021 | 174 Views
 
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The oil & gas packer market is expected to observe an exponential development in the coming time frame. Oil & gas packers are round and hollow tubes made up of high elasticity materials, which could be expanded or contracted as and when required. The oil & gas packer provides a seal between the outside of the production tubing and the inside of the casing, liner, or wellbore wall. Well packer is an instrument that runs through the wellbore initially with a smaller diameter, which is later expanded to seal the wellbore and the packer is required for the well execution. As a downhole instrument, the packer is essential for the fundamental working of most wells, makers, or injectors. Packer offers advantages such as safeguarding the production casing from corrosion caused by the produced fluids and from extreme conditions including high pressure. Oil and gas packers also help in separating multiple producing zones.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Value (USD) 

  Segments covered

  Product, Application, and Region

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

  Companies covered

Dril-Quip, Inc., GENERAL ELECTRIC, Halliburton, National Oilwell Varco, Schlumberger Limited, Weatherford, Completion Oil Tools Pvt., Ltd., Gradwell Oilfield, Resato International, and Shengji Group

 

COVID-19 scenario analysis:

  • The coronavirus flare-up in China and it spread over the globe smashed the oil & gas market. Oil is down a fifth and liquefied natural gas has tumbled to record lows, placing oil & gas producers in a jam while bringing value alleviation and providing opportunities for consumers, for example, India. 
  • The COVID-19 pandemic has brought the global economy to a halt, influencing important tasks and prompting an industrial calamity. 
  • The oil & gas packer market was growing at a healthy growth rate from past few years but the market is anticipated to hamper in the next couple of years due to COVID-19. 

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

The factors that impel the growth of the market include the use of packer as a downhole apparatus and increment in assembling of shale oil & gas. Additionally, these help in driving the demand for energy due to fast financial development & industrialization and increment in drilling exercises to satisfy the increasing requirement for fossil fuel. In addition, there are factors that may hinder the price developments of oil & gas. The oil & gas packer market is foreseen to grow at a significant CAGR over the forecast period as the degree, item types, and applications are expanding over the globe. 

The oil & gas packer market is segmented by product, application, and region. Based on product, the market is segmented into permanent packer and retrievable packer. Based on applications, the market is segmented into natural gas industry, oil industry, and other. 

Expansion and growth of the market

North America represented the major portion of the oil & gas packer industry and will witness growth over the forecast period. The elements that drive the growth include increasing demand from end users, growing drilling works in North America, and increase in drilling works related to extraction of oil & gas in the U.S., Canada & Asia-Pacific. The oil & gas packer market is divided due to the presence of many players. This market research report gives data about the rivalry condition among the players in this market. Additionally, major procedures and zones would be made for vendors to follow to improve their market share and continue the rivalry condition in the oil & gas packer market. 

The expanding shale gas production is one of the major growth patterns in the oil & gas packer market. Shale gas is utilized by a few nations to reinforce their energy security and diminish the outflows. The U.S. diminished its raw petroleum imports, bringing about raw petroleum overflow in the market. Extraction of shale assets needs tremendous amount of water for hydraulic fracturing and drilling. The diminishing imports by the U.S. brought about the development of hydraulic fracturing, subsequently expanding the household supply.

Key segments covered:

Segments

Sub-segments

  Product

  • Permanent Packer
  • Retrievable Packer

  Application

  • Oil Industry
  • Natural Gas Industry
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global oil & gas packer market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global oil & gas packer market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global oil & gas packer market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the oil & gas packer market research report:

  • Which are the leading market players in the oil & gas packer market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

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  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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