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Tubing Spools Market by Type (Single Tubing and Dual Tubing), and Application (Onshore and Offshore): Global Opportunity Analysis and Industry Forecast, 2019–2026

A05908
Pages: 167
Jan 2020 | 988 Views
 
Author(s) : Priyanka Khandelwal , Onkar Sumant
Tables: 76
Charts: 40
 

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Tubing Spools Market Outlook - 2026

The global tubing spools market size was valued at $490.5 million in 2018, and is projected to reach $725.8 million by 2026, registering a CAGR of 4.9% from 2019 to 2026. The tubing spool is an equipment that is attached to the smallest casing string or uppermost casing head. It is used to seal the annular space between the casing and tubing. There are a variety of tubing spools available in metals such as high manganese steel, carbon steel,  and stainless steel. Moreover, the spool supports the tubing string on an oil well, and connects with a tubing adapter on the top. It consists of upper and lower flange for packoff tubing hanger retention and testing of the secondary seal. Its parts include upper bowl, lockdown screw, load shoulder, secondary seal area, test port, outlet, lower & upper flanges, and ring gasket groove. 

Major players such as EthosEnergy Group Limited, Integrated Equipment, Jereh Oilfield Equipment, Weir Group, and others, are offering durable and efficient tubing spools to the market. For instance, Integrated Equipment offers wide range of tubing heads & spools designed with a straight bowl profile. 

Tubing Spools Market

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The growing exploration and drilling activities for oil around the globe, and oil price recovery are some of the major factors which drives the tubing spools market growth. In addition, the rise in redevelopment of mature oil wells propel the demand for tubing spools in the oil and gas industry. However, increase in prices of raw materials and fluctuations in foreign currencies are expected to hinder the tubing spools market growth. 

Furthermore, the technological developments in wellhead system offer lucrative growth opportunities for the market players during the forecast period. The tubing spools are an integral and essential part of wellhead system. The tubing spools is an associated accessory required to assemble the wellhead system. Wellhead systems are required to control the pressure during production and drilling operation. In addition, it connects the surface pressure-control equipment and serves as a point to suspend  tubing & casing strings. The advance technology in wellhead system provides reduced life cycle cost, and superior reliability for pressure seals  and suspension point. For instance, in March 2019, ABB, a Swiss-Swedish multinational corporation launched ABB Ability Wellhead Manager, a versatile new cloud-based visualization system for oil and gas operators.  Similarly, in August 2017, Australia-based KINETIC and WEFIC collaborated to launch high-end wellheads in Australia. The new feature of wellheads include nested hanger configurations. The new wellheads have an ability to drill without dismantling blowout preventer (BOP).

The global tubing spools market is segmented based on type, application, and region. Based on type, the market is segmented into single tubing, and dual tubing. The single tubing spool is projected to experience growth during the forecast period due its utilization for HTHP application in the oil & gas industry. These single tubing spools are an essential part of a piping system in the oil and gas industry, which are also utilized to supports the tubing string on an oil well, and connect with tubing adapter on the top.

Tubing Spools Market
By Type

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Single Tubing segment is projected to grow at a significant CAGR

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Based on application, the market is divided into onshore, and offshore The onshore segment is a largest segment in 2018 in terms of revenue owing to the discovery of new oil and gas resources. In addition, The tubing spool  in onshore application is widely used for proper pressure sealing of the total casing, which are used in the respective operation. Moreover, increase in investments in offshore oil & gas exploration and production activities offers lucrative growth opportunities for the tubing spools market growth.

Tubing Spools Market
By Application

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Onshore segment holds dominant position in 2018

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Based on region, the tubing spools market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The North America region is projected to experience growth during the forecast period owing to expansion of the oil and gas sector in the region. Moreover, rise in investment in new well drilling activities is also expected to fuel the market growth in the region.

Tubing Spools Market
By Region

2026
North America 
Europe
Asia-pacific
Lamea

North America holds a dominant position in 2018 and is expected to grow at a highest rate during the forecast period.

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Competition Analysis

The key market players profiled in the report of the tubing spools market 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.

The major players operating in the global market have adopted key strategies such as acquisitions and business expansion, to strengthen their market outreach and sustain the stiff competition in the tubing spools market. For instance, in July 2018,  Weir Group , a Scottish engineering firm acquired ESCO Corporation. The ESCO Corporation is merged with Weir Group to operate as a new division. The company deals in oil and gas drilling tool and other parts. Similarly, in April 2019, Weir Group opened a new 92,000 square-foot customer service center at David Mims Business Park in New Mexico, U.S. to fulfil the rise in customer demand. Moreover, in February 2019, Integrated Equipment, Inc., a manufacturer of oilfield equipment received $9 million from Veritas Financial Partners for future growth and improve its supply chain by establishing a global support network. 

Key Benefits for Stakeholders

  • The report provides an extensive analysis of the current and emerging tubing spools market trends and dynamics.  
  • In-depth tubing spools market analysis is conducted by constructing estimations for the key segments between 2018 and 2026. 
  • Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
  • A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
  • The global tubing spools market forecast analysis from 2018 to 2026 is included in the report.
  • Key market players operating in the market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the tubing spools industry. 

Global Tubing Spools Market Segments

By Type

  • Single tubing
  • Dual tubing

By Application

  • Onshore
  • Offshore

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • Italy
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Thailand
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East 
    • Africa

Key Players

  • Delta Corporation
  • EthosEnergy Group Limited
  • Integrated Equipment
  • Jereh Oilfield Equipment
  • Jiangsu Sanyi Petroleum Equipment Co., Ltd
  • JMP Petroleum Technologies, Inc.
  • MSP/Drilex, Inc.
  • Sunnda Corporation
  • Uztel S.A 
  • Weir Group
 

CHAPTER 1:  INTRODUCTION

1.1.  Report description
1.2.  Key benefits for stakeholders
1.3.  Key market segments
1.4.  Research methodology

1.4.1.  Primary research
1.4.2.  Secondary research
1.4.3.  Analyst Application and models

CHAPTER 2:  EXECUTIVE SUMMARY

2.1.  CXO perspective

CHAPTER 3:  MARKET OVERVIEW

3.1.  Market definition and scope
3.2.  Key Findings

3.2.1.  Top Investment Pockets

3.3.  Porter's five forces analysis
3.4.  Key player positioning, 2018
3.5.  Market dynamics

3.5.1.  Drivers

3.5.1.1.  Growing exploration and drilling activities for oil around the globe
3.5.1.2.  Oil price recovery
3.5.1.3.  Rise in redevelopment of mature oil wells

3.5.2.  Restraints

3.5.2.1.  Threat of substitute products
3.5.2.2.  Fluctuations in foreign currencies continues its influence over profit margins

3.5.3.  Opportunity

3.5.3.1.  Technological developments in wellhead system

CHAPTER 4:  TUBING SPOOLS MARKET , BY TYPE

4.1.  Overview

4.1.1.  Market size and forecast, by type

4.2.  Single tubing

4.2.1.  Key market trends, growth factors and opportunities
4.2.2.  Market size and forecast, by region
4.2.3.  Market analysis by country

4.3.  Dual tubing

4.3.1.  Key market trends, growth factors and opportunities
4.3.2.  Market size and forecast, by region
4.3.3.  Market analysis by country

CHAPTER 5:  TUBING SPOOLS MARKET , BY APPLICATION

5.1.  Overview

5.1.1.  Market size and forecast, by application

5.2.  Onshore

5.2.1.  Key market trends, growth factors and opportunities
5.2.2.  Market size and forecast, by region
5.2.3.  Market analysis by country

5.3.  Offshore

5.3.1.  Key market trends, growth factors and opportunities
5.3.2.  Market size and forecast, by region
5.3.3.  Market analysis by country

CHAPTER 6:  TUBING SPOOLS MARKET , BY REGION

6.1.  Overview

6.1.1.  Market size and forecast, by region

6.2.  North America

6.2.1.  Key market trends, growth factors and opportunities
6.2.2.  Market size and forecast, by type
6.2.3.  Market size and forecast, by application
6.2.4.  Market analysis by country

6.2.4.1.  U.S.

6.2.4.1.1.  Market size and forecast, by type
6.2.4.1.2.  Market size and forecast, by application

6.2.4.2.  Canada

6.2.4.2.1.  Market size and forecast, by type
6.2.4.2.2.  Market size and forecast, by application

6.2.4.3.  Mexico

6.2.4.3.1.  Market size and forecast, by type
6.2.4.3.2.  Market size and forecast, by application

6.3.  Europe

6.3.1.  Key market trends, growth factors and opportunities
6.3.2.  Market size and forecast, by type
6.3.3.  Market size and forecast, by application
6.3.4.  Market analysis by country

6.3.4.1.  Germany

6.3.4.1.1.  Market size and forecast, by type
6.3.4.1.2.  Market size and forecast, by application

6.3.4.2.  Italy

6.3.4.2.1.  Market size and forecast, by type
6.3.4.2.2.  Market size and forecast, by application

6.3.4.3.  UK

6.3.4.3.1.  Market size and forecast, by type
6.3.4.3.2.  Market size and forecast, by application

6.3.4.4.  Russia

6.3.4.4.1.  Market size and forecast, by type
6.3.4.4.2.  Market size and forecast, by application

6.3.4.5.  Rest of Europe

6.3.4.5.1.  Market size and forecast, by type
6.3.4.5.2.  Market size and forecast, by application

6.4.  Asia-Pacific

6.4.1.  Key market trends, growth factors and opportunities
6.4.2.  Market size and forecast, by type
6.4.3.  Market size and forecast, by application
6.4.4.  Market analysis by country

6.4.4.1.  China

6.4.4.1.1.  Market size and forecast, by type
6.4.4.1.2.  Market size and forecast, by application

6.4.4.2.  India

6.4.4.2.1.  Market size and forecast, by type
6.4.4.2.2.  Market size and forecast, by application

6.4.4.3.  Thailand

6.4.4.3.1.  Market size and forecast, by type
6.4.4.3.2.  Market size and forecast, by application

6.4.4.4.  Australia

6.4.4.4.1.  Market size and forecast, by type
6.4.4.4.2.  Market size and forecast, by application

6.4.4.5.  Rest of Asia-Pacific

6.4.4.5.1.  Market size and forecast, by type
6.4.4.5.2.  Market size and forecast, by application

6.5.  LAMEA

6.5.1.  Key market trends, growth factors and opportunities
6.5.2.  Market size and forecast, by type
6.5.3.  Market size and forecast, by application
6.5.4.  Market analysis by country

6.5.4.1.  Latin America

6.5.4.1.1.  Market size and forecast, by type
6.5.4.1.2.  Market size and forecast, by application

6.5.4.2.  Middle East

6.5.4.2.1.  Market size and forecast, by type
6.5.4.2.2.  Market size and forecast, by application

6.5.4.3.  Africa

6.5.4.3.1.  Market size and forecast, by type
6.5.4.3.2.  Market size and forecast, by application

CHAPTER 7:  COMPANY PROFILES

7.1.  Delta US Corporation LLC

7.1.1.  Company overview
7.1.2.  Company snapshot
7.1.3.  Product portfolio

7.2.  EthosEnergy Group Limited

7.2.1.  Company overview
7.2.2.  Key Executives
7.2.3.  Company snapshot
7.2.4.  Product portfolio

7.3.  Integrated Equipment, Inc.

7.3.1.  Company overview
7.3.2.  Company snapshot
7.3.3.  Product portfolio
7.3.4.  Key strategic moves and developments

7.4.  Jiangsu Sanyi Petroleum Equipment Co., Ltd.

7.4.1.  Company overview
7.4.2.  Company snapshot
7.4.3.  Product portfolio

7.5.  JMP Petroleum Technologies, Inc.

7.5.1.  Company overview
7.5.2.  Company snapshot
7.5.3.  Product portfolio

7.6.  MSP/DRILEX, (Shanghai) Co., Ltd.

7.6.1.  Company overview
7.6.2.  Company snapshot
7.6.3.  Product portfolio

7.7.  Sunnda Corporation

7.7.1.  Company overview
7.7.2.  Company snapshot
7.7.3.  Product portfolio

7.8.  UZTEL S.A.

7.8.1.  Company overview
7.8.2.  Key Executives
7.8.3.  Company snapshot
7.8.4.  Product portfolio
7.8.5.  Business performance

7.9.  The Weir Group PLC

7.9.1.  Company overview
7.9.2.  Key Executives
7.9.3.  Company snapshot
7.9.4.  Operating business segments
7.9.5.  Product portfolio
7.9.6.  R&D Expenditure
7.9.7.  Business performance
7.9.8.  Key strategic moves and developments

7.10.  Yantai Jereh Oilfield Services Group Co., Ltd.

7.10.1.  Company overview
7.10.2.  Key Executives
7.10.3.  Company snapshot
7.10.4.  Product portfolio
7.10.5.  R&D Expenditure
7.10.6.  Business performance

LIST OF TABLES

TABLE 01.  GLOBAL TUBING SPOOLS MARKET REVENUE, BY TYPE, 2018-2026 ($MILLION)
TABLE 02.  TUBING SPOOLS MARKET REVENUE FOR SINGLE TUBING , BY REGION 2018–2026($MILLION)
TABLE 03.  TUBING SPOOLS MARKET REVENUE FOR DUAL TUBING, BY REGION 2018–2026($MILLION)
TABLE 04.  GLOBAL TUBING SPOOLS MARKET REVENUE, BY APPLICATION, 2018-2026 ($MILLION)
TABLE 05.  TUBING SPOOLS MARKET REVENUE FOR ONSHORE, BY REGION 2018–2026($MILLION)
TABLE 06.  TUBING SPOOLS MARKET REVENUE FOR OFFSHORE, BY REGION 2018–2026($MILLION)
TABLE 07.  GLOBAL TUBING SPOOLS MARKET REVENUE, BY REGION 2018–2026($MILLION)
TABLE 08.  NORTH AMERICA TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 09.  NORTH AMERICA TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 10.  NORTH AMERICA TUBING SPOOLS MARKET REVENUE, BY COUNTRY, 2018–2026 ($MILLION)
TABLE 11.  U.S. TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 12.  U.S. TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 13.  CANADA TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 14.  CANADA TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 15.  MEXICO TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 16.  MEXICO TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 17.  EUROPE TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 18.  EUROPE TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 19.  EUROPE TUBING SPOOLS MARKET REVENUE, BY COUNTRY, 2018–2026 ($MILLION)
TABLE 20.  GERMANY TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 21.  GERMANY TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 22.  ITALY TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 23.  ITALY TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 24.  UK TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 25.  UK TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 26.  RUSSIA  TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 27.  RUSSIA  TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 28.  REST OF EUROPE TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 29.  REST OF EUROPE TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 30.  ASIA-PACIFIC TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 31.  ASIA-PACIFIC TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 32.  ASIA-PACIFIC TUBING SPOOLS MARKET REVENUE, BY COUNTRY, 2018–2026 ($MILLION)
TABLE 33.  CHINA TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 34.  CHINA TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 35.  INDIA TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 36.  INDIA TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 37.  THAILAND TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 38.  THAILAND TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 39.  AUSTRALIA TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 40.  AUSTRALIA TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 41.  REST OF ASIA-PACIFIC TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 42.  REST OF ASIA-PACIFIC TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 43.  LAMEA TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 44.  LAMEA TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 45.  LAMEA TUBING SPOOLS MARKET REVENUE, BY COUNTRY, 2018–2026 ($MILLION)
TABLE 46.  LATIN AMERICA TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 47.  LATIN AMERICA TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 48.  MIDDLE EAST TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 49.  MIDDLE EAST TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 50.  AFRICA TUBING SPOOLS MARKET REVENUE, BY TYPE 2018–2026($MILLION)
TABLE 51.  AFRICA TUBING SPOOLS MARKET REVENUE, BY APPLICATION 2018–2026($MILLION)
TABLE 52.  DELTA: COMPANY SNAPSHOT
TABLE 53.  DELTA: PRODUCT PORTFOLIO
TABLE 54.  ETHOSENERGY: KEY EXECUTIVES
TABLE 55.  ETHOSENERGY: COMPANY SNAPSHOT
TABLE 56.  ETHOSENERGY: PRODUCT PORTFOLIO
TABLE 57.  INTEGRATED: COMPANY SNAPSHOT
TABLE 58.  INTEGRATED: PRODUCT PORTFOLIO
TABLE 59.  SANYI: COMPANY SNAPSHOT
TABLE 60.  SANYI: PRODUCT PORTFOLIO
TABLE 61.  JMP: COMPANY SNAPSHOT
TABLE 62.  JMP: PRODUCT PORTFOLIO
TABLE 63.  MSP/DRILEX: COMPANY SNAPSHOT
TABLE 64.  MSP/DRILEX: PRODUCT PORTFOLIO
TABLE 65.  SUNNDA: COMPANY SNAPSHOT
TABLE 66.  SUNNDA: PRODUCT PORTFOLIO
TABLE 67.  UZTEL: KEY EXECUTIVES
TABLE 68.  UZTEL: COMPANY SNAPSHOT
TABLE 69.  UZTEL: PRODUCT PORTFOLIO
TABLE 70.  WEIR: KEY EXECUTIVES
TABLE 71.  WEIR: COMPANY SNAPSHOT
TABLE 72.  WEIR: OPERATING SEGMENTS
TABLE 73.  WEIR: PRODUCT PORTFOLIO
TABLE 74.  JEREH: KEY EXECUTIVES
TABLE 75.  JEREH: COMPANY SNAPSHOT
TABLE 76.  JEREH: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.  KEY MARKET SEGMENTS
FIGURE 02.  EXECUTIVE SUMMARY
FIGURE 03.  GLOBAL TUBING SPOOLS MARKET : KEY PLAYERS
FIGURE 04.  TOP INVESTMENT POCKETS
FIGURE 05.  MODRATE HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 06.  MODEARTE TO HIGH BARGAINING POWER OF BUYERS
FIGURE 07.  LOW TO MODERATE THREAT OF SUBSTITUTES
FIGURE 08.  MODERATE THREAT OF NEW ENTRANTS
FIGURE 09.  MODERATE TO HIGH INTENSITY OF RIVALRY
FIGURE 10.  KEY PLAYER POSITIONING
FIGURE 11.  GLOBAL TUBING SPOOLS MARKET , BY TYPE, 2018-2026
FIGURE 12.  COMPARATIVE SHARE ANALYSIS OF SINGLE TUBING SPOOLS MARKET , BY COUNTRY, 2018 & 2026 (%)
FIGURE 13.  COMPARATIVE SHARE ANALYSIS OF DUAL TUBING SPOOLS MARKET , BY COUNTRY, 2018 & 2026 (%)
FIGURE 14.  GLOBAL TUBING SPOOLS MARKET, BY APPLICATION, 2018-2026
FIGURE 15.  COMPARATIVE SHARE ANALYSIS OF ONSHORE TUBING SPOOLS MARKET , BY COUNTRY, 2018 & 2026 (%)
FIGURE 16.  COMPARATIVE SHARE ANALYSIS OF OFFSHORE TUBING SPOOLS MARKET , BY COUNTRY, 2018 & 2026 (%)
FIGURE 17.  TUBING SPOOLS MARKET, BY REGION, 2018-2026
FIGURE 18.  U.S.TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 19.  CANADA TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 20.  MEXICO TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 21.  GERMANY TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 22.  ITALY TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 23.  UK TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 24.  RUSSIA  TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 25.  REST OF EUROPE TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 26.  CHINA TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 27.  INDIA TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 28.  THAILAND TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 29.  AUSTRALIA TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 30.  REST OF ASIA-PACIFIC TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 31.  LATIN AMERICA TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 32.  MIDDLE EAST TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 33.  AFRICA TUBING SPOOLS MARKET REVENUE, 2018-2026($MILLION)
FIGURE 34.  UZTEL: REVENUE, 2016–2018 ($MILLION)
FIGURE 35.  WEIR: R&D EXPENDITURE, 2016–2018 ($MILLION)
FIGURE 36.  WEIR: REVENUE, 2016–2018 ($MILLION)
FIGURE 37.  WEIR: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 38.  WEIR: REVENUE SHARE BY REGION, 2018 (%)
FIGURE 39.  JEREH: R&D EXPENDITURE, 2017–2018 ($MILLION)
FIGURE 40.  JEREH: REVENUE, 2016–2018 ($MILLION)

 
 

The tubing spools  is a part of wellhead system that is widely used in the oil and gas industries. The tubing spools market is projected to depict a prominent growth during the forecast period, owing to various factors, such as rise in number of oil and gas exploration due to increase in demand for crude oil. In addition, increase in investment in the petrochemical industry is also expected to boost the demand for tubing spools in oil exploration and production processes in the developing economies such as Brazil, China, and India.

The advantageous features such as versatile straight bore design for single completions, and sealing off the pressure between the casing and tubing annulus is currently creating the highest demand for single tubing spools. These tubing spools are more efficient as compared to the other types. Various leading manufacturers such as Weir Group, Yantai Jereh Oilfield Services Group Co., Ltd., UZTEL S.A., and others occupy a prominent revenue share in the market.

Based on application, the onshore segment garnered the highest market share in 2018, as the demand for tubing spools is increasing in the oil equipment industry, as they play a vital function by offering a control of wellhead pressure for drilling equipment.

Among the analyzed regions, North America is expected to account for the CAGR revenue in the global market throughout the forecast period.

 

 

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FREQUENTLY ASKED QUESTIONS?
 

A. Growing exploration and drilling activities for oil around the globe, rise in redevelopment of mature oil wells, and technological developments in wellhead system are some of the factors which are anticipated to drive tubing spools market trends.

A. The global tubing spools market size was valued at $490.5 million in 2018, and is projected to reach $725.8 million by 2026, registering a CAGR of 4.9% from 2019 to 2026.

A. The global tubing spools market will be valued at $725.8 million in 2026.

A. By application, the onshore segment has maximum market share of the tubing spools market in 2018.

A. The key trend includes growing exploration and drilling activities for oil and oil price recovery around the globe.

A. The global tubing spools market size was valued at $490.5 million in 2018, and is projected to reach $725.8 million by 2026, registering a CAGR of 4.9% from 2019 to 2026.

A. Many major companies dealing in oil and gas exploration are expanding their business by strategic partnership agreements. Such factor will offers growth opportunities for the market players in the region.

A. The number of petrochemical companies which are situated in the prominent regions of the North America are expected to boost the demand of the tubing spool.

A. The global tubing spools market was valued at $490.5 million in 2018.

A. The tubing spool is a part of wellhead system installed at the external opening of an oil or gas drilling well. It plays a vital function by offering a control of wellhead pressure for drilling equipment.

 

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