Allied Market Research

2024

Well Casing And Cementing Market

Well Casing and Cementing Market Size, Share, Competitive Landscape and Trend Analysis Report by Operation Type and by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

EP : Green/Alternative/ Renewable Energy

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Author's: | Eswara Prasad
Publish Date:

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Well casing and cementing are services that are offered while drilling a reservoir or well for the extraction of crude oil. Well casing is performed to stabilize the walls of the well by putting in a hollow steel pipe. On the other hand, well cementing Is the process of sealing the space between the well-bore and the casing in a newly dug well. Well casing and cementing are done to provide isolation to the well so that the fluid is prevented from leaking out.

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

  Operation Type, Application, 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

Consolidated Oil Well Services LLC, Nine Energy Service Inc., Gulf Energy SAOC, Magnum Cementing Services Ltd., Calfrac Well Services Ltd., China Oilfield Services Limited, Baker Hughes, a GE company, Schlumberger N.V., Halliburton Company, and Weatherford International plc.

 

COVID-19 scenario analysis:

The outbreak of the COVID-19 pandemic has severely affected the global well casing and cementing market.

  • Most of the business activities have come to a halt because of the nationwide lockdowns and restrictions on national and international transport imposed by the governments. This has resulted in a drastic fall in the demand for oil & gas around the world and as a result the applications for well casing and cementing decreased significantly.

Top impacting factors: Market Scenario Analysis, Trends , Drivers and Impact Analysis

There is an increase in demand for oil & gas in the market with the rapid growth in urbanization around the world. As a result, there is a steep increase in the number of both onshore and offshore drilling activities. This is to prevent the groundwater and the surrounding ecosystem from any sort of leakage. The stringent government regulations to minimize the adverse environmental effects caused by the exploration activities also drive the popularity of the well casing and cementing market. However, the fluctuating prices of crude oil limit the market growth.

In terms of market share, the market in the North America region accounts for the major fraction of the global well casing and cementing market because of the increase in number of onshore and offshore drilling activities in the region. The market in the Middle East and Africa also hold a significant share on the global well casing and cementing market because of the presence of a large number of oil & gas industries in the region.

Key segments covered:

Segments

Sub-segments

  Operation Type

  • Remedial Cementing
  • Primary Cementing
  • Other Operation Types

  Application

    • Offshore
    • Onshore


Key benefits of the report:

  • This study presents the analytical depiction of the global well casing and cementing industry 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 well casing and cementing market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global well casing and cementing market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global well casing and cementing market analysis based on competitive intensity and how the competition will take shape in coming years.

Well Casing and Cementing Market Report Highlights

Aspects Details
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By Operation Type
  • Remedial Cementing
  • Primary Cementing
  • Others
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By Application
  • Onshore
  • Offshore
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Rest of LAMEA)
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Key Market Players

Gulf Energy SAOC, China Oilfield Services Limited, Schlumberger N.V., Magnum Cementing Services Ltd., Halliburton Company, Baker Hughes, Calfrac Well Services Ltd., Nine Energy Service Inc., GE company, Consolidated Oil Well Services LLC

Key Market Players

Weatherford International Plc., Centek Group, Innovex Downhole Solutions, Others

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Well Casing and Cementing Market

Global Opportunity Analysis and Industry Forecast, 2023-2032