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

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.