Pune, India, Aug. 04, 2022 (GLOBE NEWSWIRE) -- The global well casing market size was USD 7.93 billion in 2021. The market is projected to grow USD 13.40 billion in 2026 at a CAGR of 6.8% during the 2021-2026 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Well Casing Market Share, 2021-2026.” Factors such as increasing demand for hydrocarbon around the world will be a critical factor in boosting the well casing market revenue during the forecast period.

The surge in aviation industry and growing electricity requirement will spur demand for oil and gas, which, in turn, will aid the market in the forthcoming years. The surge in offshore exploration activities will consequently create opportunities for the well casing market in the foreseeable future.


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Report Coverage Details
Forecast Period 2019-2026
Forecast Period 2019 to 2026 CAGR 6.8%
2026 Value Projection USD 13.40 billion
Base Year 2018
Market Size in 2018 USD 7.93 billion
Historical Data for 2015-2017
No. of Pages 120
Segments covered By Casing Type (Conductor Casing, Surface Casing, Intermediate Casing, and Production Casing), By Application (Onshore and Offshore) and Regional
Growth Drivers Rising Energy Consumption to Spur Market Opportunities
  Surge in Hydrocarbon Projects to Propel Market in North America


Market Driver:

Rising Energy Consumption to Spur Market Opportunities

The rising electricity demand in the residential sector will have a positive impact on the well casing market share during the forecast period. For instance, the use of household appliances such as refrigerator, toaster, kettle, microwave and blender in emerging nations.  The increasing implementation of numerous government schemes to promote electrification will bolster healthy growth of the market in the forthcoming years.

The rising income in the developing nations and capital investment in the power sector will accelerate the well casing market trends. The growing investment by key players in offshore exploration activities of oil and gas will enable speedy growth of the market in the forthcoming years. For instance, Kuwait Oil Company (KOC) bagged an award for an integrated offshore drilling services contract for six high pressure high-temperature exploration wells on two jackup rigs in the Arabian Gulf sea. KOC will receive assistance from Halliburton company for manage drilling, fluids, wireline and perforating, well testing, cementing, and all offshore logistical services.


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The well casing market report focuses and elaborates the definition, types, applications and major players in detail. Deep analysis about well casing market status, competition pattern, enterprise, advantages and disadvantages of enterprise products, industry development trends, regional industrial layout characteristics and macroeconomic policies, industrial policy has also been studied and provided within the synopsis. From raw materials to downstream buyers of this industry has been analyzed scientifically, the feature of product circulation and sales channel is presented as well. This report is aimed at helping companies, investors and potential shareholders along with       establish a bird’s eye view prospect of industrial development and characteristics of the market. The report also benefits its readers by providing the unrivalled data in well-organized manner.

Regional Analysis:

Surge in Hydrocarbon Projects to Propel Market in North America

The market in North America generated a revenue of USD 3.59 billion in 2018 and is expected to witness high growth during the forecast period. The growth in the region is attribute to the growing demand for hydrocarbon to enable power generation. The surge in transport industry along with ongoing hydrocarbon projects in the U.S. and Canada will create opportunities for the market in the region. The stellar requirement for petroleum and natural gas owing to the passenger and private vehicles in the region will contribute positively to the market growth. For instance, petroleum and gas energy accounts for more than 65% in U.S. primary consumption.

Asia Pacific is predicted to witness rapid growth in the forthcoming years owing to massive demand for energy from India and China. The rising urbanization, industrialization and population growth will boost the well casing market growth in the region. The increasing investment in E&P to reduce the foreign exchange on imports of oil and gas along with hydrocarbon consumption will create opportunities for the market in Asia Pacific.

Europe is likely to hold the second largest share in the market owing to the ongoing hydrocarbon projects in Norway, the UK, Russia, and Germany

Well Casing Market Segmentation:

On the basis of Casing Type, the market is segmented into Conductor Casing, Surface Casing, Intermediate Casing, and Production Casing.

By Application the market is divided into Onshore and Offshore.

In terms of geography, the Cloud Security Market Share can be categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.


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A List of Key Manufacturers Operating in the Global Market:

Well Casing Market Segmentation:

By Casing Type:

By Application:


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Frequently Asked Questions On Well Casing Market:

Who are the key players in Well Casing Market?

Schlumberger, Halliburton, Weatherford, Baker Hughes, Vallourec, Parker Drilling Company, Odfjell Well Services, Gulf Oil & Gas International, Express Energy Services, Nabors Industries, COSL – China Oilfield Services Limited, Noble Casing & Drilling

How Big is Global Well Casing Market?

According Fortune Business Insights. The global well casing market size was USD stood at USD 7.93 billion in 2018 and is projected to reach USD 13.40 billion by 2026, at CAGR of 6.8%.

Which region held the highest share in the Well Casing Market?

North America projected to dominate the industry outlook owing to the expansion of hydrocarbon projects.

Table of Content:

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