USD 619.55 billion
Liner Hanger Systems Market Size, Share, Growth Analysis, By Type(Conventional Liner Hangers (Mechanical Liner Hangers, Hydraulic Liner Hangers), Expandable Liner Hangers), By Location of Deployment(Onshore, Offshore), By Region - Industry Forecast 2024-2031
Report ID:
SQSG10B2007 |
Region:
Global |
Published Date: February, 2024
Pages:
270
|Tables:
62
|Figures:
75
Liner Hanger Systems Market Insights
Liner Hanger Systems Market size was valued at USD 619.55 billion in 2019 and is poised to grow from USD 643.35 billion in 2023 to USD 860.35 billion by 2031, growing at a CAGR of 3.70% in the forecast period (2024-2031).
A liner hanger is a tool used in oil and gas wells to support, secure, and hang a liner. In order to establish a solid hold from the interior of the liner and assist its installation, liner hangers require a mechanical component called slips. Under an already-existing casing string, liner hangers aid in capping open holes. To prevent issues with trapped pipe, some liner hangers are also employed during drilling operations in challenging and complex well types. Liner hangers are now required in the majority of oil and gas completion wells. The market for liner hangers is predicted to experience strong demand over the next several years as a result of increased investments in offshore exploration and production activities. The number of rigs, total drilled space per well, and technological advancements are all factors that contribute to the market for liner hangers expanding. Additionally, the market's major players have a tonne of chances because of the rise in used automobile sales.
In the upcoming years, it is projected that increasing use of hydraulic fracturing will greatly increase demand for liner hangers. Due to an increase in the production of complicated reservoir formations, unconventional wells, and the discovery of reserves in remote areas, horizontal drilling and directional drilling have become more popular recently. Because they are less expensive and easier to use, mechanical liner hangers are favored in shallow depths. Since heavy and lengthy liners are put in deep-water wells where expandable liner hangers are designed to be used, demand is expected to remain concentrated in Brazil, Nigeria, Canada, the U.S., and Angola. These are expected to further fuel the oil and gas industry's demand for liner hangers.
US Liner Hanger Systems Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Onshore
Fastest Growth
Onshore
Growth Rate
3.70% CAGR
Global Liner Hanger Systems Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Liner Hanger Systems Market Segmental Analysis
The Global Liner Hanger Systems Market is segmented based on type, location of deployment, and region. Based on Type, it is categorized into Conventional Liner Hangers and Expandable Liner Hangers. The Conventional Liner Hangers segment is further sub segmented into Mechanical Liner Hangers and Hydraulic Liner Hangers. Based on Location of Deployment, it is categorized into Onshore and Offshore. Based on region, it is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Liner Hanger Systems Market Analysis by Location of Deployment
On the basis of location of deployment, the onshore segment is expected to dominate the global liner hanger systems market over the forecast period. During the anticipated period, the onshore segment will significantly increase its market share for liner hanger systems. In the upcoming years, the growth of the onshore oil and gas equipment market and, in turn, the market is expected to be supported by an increase in shale oil and gas E&P activities.
On the other hand, about 30% of the world's crude oil production is accounted for by the offshore oil and gas sector. The main offshore oil and gas production regions include the Middle East, North Sea, Brazil, and the Gulf of Mexico.
Global Liner Hanger Systems Market By Location of Deployment, 2021(%)
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Liner Hanger Systems Market Regional Insights
Based on the region, the North American region currently dominates the global market. North America will account for 39% of the market's share over the forecasted timeframe. The main markets in North America for liner hanger systems are the US and Canada. Because of the abundance of unconventional oil and gas deposits in the US, Canada, and Argentina, among other nations, liner hanger systems are widely used in this region. Over the course of the projection period, this will support the expansion of the market in North America.
Global Liner Hanger Systems Market By Geography, 2021 - 2028
- Largest
- Fastest
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Liner Hanger Systems Market Dynamics
Liner Hanger Systems Market Drivers
- The increase in global liquid fuel consumption is one of the major reasons behind the growth of the liner hanger systems market. The International Energy Agency (IEA) forecasts a 30% rise in global energy demand in the upcoming years. In many nations, rapid urbanization and industrialization have increased fuel consumption. Because rising disposable incomes are encouraging more individuals in developing nations to own cars, the usage of liquid fuels in the transportation industry is also increasing. In growing economies, the expansion of transportation services is also resulting in higher fuel consumption, which raises the demand for oil production. Therefore, growing oil and gas production would directly affect the growth of the liner hanger systems market throughout the projection period in oil and gas production (where well completion is a significant factor).
Liner Hanger Systems Market Restraints
- The world bank's decision to stop funding E&P activities is one of the major factors limiting the growth of the worldwide liner hanger systems market. The World Bank Group had declared that, after 2019, it would not make any additional investments in upstream oil and gas, unless there were exceptional circumstances. By offering incentives and subsidies for the use of low-carbon fuels, the international organization hopes to encourage the substitution of clean energy fuels for conventional fuels in the production of energy. In order to advance the cause, the World Bank is also working in collaboration with other international organizations and nations, including The International Development Finance and The International Trade Union Confederation in nations like Canada, France, Morocco, Fiji, Ethiopia, the UK, and Germany. The Insu-Resilience Global Partnership seeks to dramatically scale up climate risk financing and insurance solutions in underdeveloped nations. Therefore, the decrease in World Bank funding for oil and gas projects will have an impact on exploration and production (E&P) activities and may limit market expansion in the upcoming years.
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Liner Hanger Systems Market Competitive Landscape
The liner hanger systems market is a fairly competitive area. In order to compete in the fragmented market for liner hanger systems, companies are using growth tactics like corporate expansion and acquisitions.
Liner Hanger Systems Market Top Players Company Profiles
- Schlumberger Limited
- Halliburton Company
- Weatherford International Ltd.
- Baker Hughes Company
- National Oilwell Varco, Inc.
- Weatherford International PLC
- Nabors Industries Ltd.
- TIW Corporation
- Vallourec S.A.
- Innovex Downhole Solutions
- Packers Plus Energy Services Inc.
- Delta Oil Tools
- AS Rubicon Oilfield International Holdings,
- L.P. RMSpumptools Ltd.
- Packers Plus Energy Services (USA) Inc.
- Pragma Well Technology
- AS American Completion Tools, Inc.
- Global Energy Services
- BICO Drilling Tools, Inc.
- Proserv Group Inc.
Liner Hanger Systems Market Recent Developments
- In August 2021, Dril-Quip, Inc. has officially launched its Environmental, Social, and Governance (ESG) platform on its website, which can be found at https://www.dril-quip.com/environmental-social-governance.html. The new website highlights the ongoing environmental and social measures the company has made in support of its sustainability goals and further affirms the company's commitment to CSR across all of its activities worldwide. The website will be used going ahead to help spread awareness of Dril-ESG Quip's programme objectives.
Liner Hanger Systems Key Market Trends
- One of the main market trends that is anticipated to have a beneficial effect on the sector throughout the projected period is the rise in deepwater and ultra-deepwater exploration. In its New Policies Scenario, the IEA claims that Brazil is a key location for offshore oil and gas development, with annual capital expenditures predicted to reach USD 60 billion by 2040. Vendors in the industry will be prompted to produce these systems designed expressly for deepwater and ultra-deepwater activities as these activities increase. For instance, the XtremeGrip deepwater liner hanger system from Halliburton broke the record for the longest expandable system ever installed. In the Gulf of Mexico, the system was set up at a depth of 30,924 feet. In its operations in the Gulf of Mexico, Schlumberger's thermal liner hanger system was found to have a 99.5% operational efficiency. The advancement of liner hanger systems for such investigations will promote market expansion during the forecast period.
Liner Hanger Systems Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global liner hanger systems market is currently led by countries in the North American region, due to the abundance of unconventional oil and gas deposits in the US, Canada, and Argentina, among other nations, liner hanger systems are widely used in this region. Along with this, the onshore deployment segment is projected to lead the market over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 619.55 billion |
| Market size value in 2031 | USD |
| Growth Rate | 3.70% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Data-sheets-value="{" |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Liner Hanger Systems Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Liner Hanger Systems Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Liner Hanger Systems Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Liner Hanger Systems Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Liner Hanger Systems Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Liner Hanger Systems Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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