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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Oilfield Casing Spools Market
Request Now !Casing spool is an important component for the drilling processes as it controls the pressure on the wellhead. It is generally flange ended on the top of the casing head and connected with the bottom of the tubing head of the wellhead system. A casing spool is provided with the straight bore bowl with a landing shoulder which is at an angle of 45-degree. This design prevents the equipment from damage of sealing areas by drilling tools along with preventing bowl protector wedging problems that occur when pressure is applied. The casing spools are often equipped with threaded outlets and studded outlets. These are used for different applications such as testing blowout preventers while drilling, pressure testing casing seals and also as outlets for fluid returns.
Market scope and structure analysis :
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast units | Value (USD) |
Segments covered | Type, Casing Size, Working Pressure, and Region |
Geographies covered | North America (U.S. and Canada), Europe (Germany, 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 Middle East and Africa (Saudi Arabia, UAE, Kuwait, South Africa, and Rest of MEA) |
Companies covered | Baker Hughes, Delta US Corp. LLC, Jiangsu HongFei Petroleum Machinery Manufacturing Co. Ltd., Schlumberger Ltd., Sentry Wellhead Systems LLC, Shaanxi FYPE Rigid Machinery Co. Ltd., The Weir Group Plc, Uztel SA, Worldwide Oilfield Machine Inc., and Yantai Jereh Oilfield Services Group Co. Ltd. |
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the oilfield casing spools market.
With the rapid industrialization, there is an ever increasing demand for fuel across the globe. As a result, the rapid increase in the number of onshore oil and gas exploration activities has played a significant role in driving the growth of the oilfield casing spools market. Moreover, factors such as increase in dependency on pressure pumping solutions and rise in focus on efficient methods for the extraction of crude oil to maximize profit also adds to the surge in demand for casing spools as essential pressure control equipment in the market. On the other hand, there is a rise in deep-water drilling activities in the recent past. Companies such as Shell Brasil Petróleo Ltd. in February 2019 started a Lula North Deepwater project in Santos Basin in Brazil. The rise in popularity of deep-water offshore drilling activities is also expected to boost the growth of the oilfield casing spools market during the forecast period. However, the volatility in the prices of crude oil limits the market growth.
In terms of market share, the North American region accounts for a significant share of the global oilfield casing spools market with rapid growth in the oil & gas industry in the region. The market in the Middle East and Africa is also likely to witness a lucrative growth in demand for casing spools due to the presence of high number of oil & gas industries in the region.
Key segments covered:
Segments | Sub-segments |
Type |
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Casing Size |
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Working Pressure |
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Key benefits of the report:
Key Market Segments
| Segments | Sub-segments |
|---|---|
| By Type |
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| By Working Pressure |
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| By Application |
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| By Region |
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Key Market Players
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