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Pulished Date April, 2021
ID: 10214
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Wellhead Equipment Market Segmentation By type (Casing Heads, Casing Spools, Christmas Trees, Tubing Adapters, and others), by application (On-Shore and Off-Shore), and Region - Industry Forecast to 2026

Pulished: April, 2021
ID: 10214
Pages: 175

Wellhead Equipment Market Value and Growth Analysis:

The global wellhead equipment market is predicted to reach USD 7.42 billion by 2026, with a CAGR of 3.48%. Wellhead equipment provides pressure joints and a suspension point for the carcass strings.

It forms an integral structure of the well. They are welded to the casing column during drilling operations. They can be reemployed and reconditioned for other drilling and well operations. Wellhead equipment is typically employed to connect casings and pipes to a gas or oil pipeline. This enclosure is a permanent installation. The wellhead is a flanged device that adheres to the casing and serves to seal the well and suspend the chains from the casing. There are various components of wellhead equipment such as crossovers, tees, tube head coils, casing coils, and casing heads among others. These multiple pieces are typically integrated together to form a set of wellhead equipment. Escalating oil exploration and drilling activity around the world, the recovery in oil prices and the escalating redevelopment of mature oil wells are driving the worldwide market for wellhead equipment. On the other hand, soaring commodity prices and currency fluctuations hamper expansion to some extent.

Wellhead Equipment Market Trends:

The main components of a wellhead system include the tube head adapter, tube supports, tube heads, mud line suspension systems, test plugs, gaskets, manifold. choke, casing supports, casing spools and casing head. The wellhead performs many functions such as casing suspension, tube suspension, pressure monitoring and pumping access, means of securing a well pump, and reliable means of accessing a well. Oil and gas projects are predicted to benefit as they will receive investments that will fuel the expansion of the worldwide market for wellhead equipment. Oil and gas is one of the most important industries in the world in terms of income generation. The industry has a large stake in government, as it includes most of the key players.

Wellhead Equipment Recent Developments in the industry:

  • Launch of a new subsea well casing technology in Italy. OSRL has launched Offset Installation Equipment (OIE) from its new headquarters in Trieste, Italy.
  • A UK OEM has announced a joint venture that will enable it to supply a revolutionary set of surface shaft and well production equipment that will improve the integrity of oil and gas production and reduce the need for long-term repair and maintenance.

Wellhead Equipment Market Drivers

The constant fluctuation in oil and gas prices is predicted to boost exploration and production activity around the world. This will thus create several business opportunities for companies engaged in the sale and manufacture of petroleum equipment. Growing call for wellhead equipment: In 2018, the recovery in oil and gas prices led to a dramatic increase in drilling activity around the world. This has opened up considerable opportunities for long-phased drill rigs and, in turn, is driving the overall expansion of the global wellhead equipment market. An escalating number of drilling rig counts, well completions and drilling activity are predicted to drive the worldwide market for wellhead equipment. Rising crude oil prices, coupled with rising crude oil production, are predicted to drive expansion in the wellhead equipment market. The addition and expansion of deep drilling and ultra-deep drilling for oil and gas is also escalating the call for wellhead equipment. Escalating exploration for unconventional resources such as shale oil and coal bed methane is predicted to drive the worldwide market for wellhead equipment.

Wellhead Equipment Market Restraints:

There are still some challenges that could slow the expansion of the global wellhead equipment market in the coming years of the foreseen period. One of the main limiting factors is that fluctuations in crude oil market prices have delayed several sanctioned oil and gas projects around the world. This has led to several project sites facing a backlog in work and an increase in budget. These delays are predicted to slow down the market in the near future.

Opportunities in the Wellhead Equipment Market:

However, the escalating call for wellhead equipment in more difficult and unmanned project sites, coupled with technological advancements, is likely to positively influence the expansion of the wellhead equipment market. Wells on land account for a significant part of world oil production. The growing call for energy from developing economies has led to new exploration and production activities. This increases the number of investments in the oil and gas sector due to the stabilization of oil prices, thus escalating the call for wellhead equipment. Thus, wellhead equipment companies are escalating their investments in onshore exploration and production projects to make profit margins.

Wellhead Equipment Market Challenges:

The main challenge for the expansion of the wellhead equipment market is the high cost of the equipment.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 – 2025

Base Year

2020

Forecast Period

2021 - 2026

CAGR

3.48%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

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

Wellhead Equipment Market

Wellhead Equipment Market Segmentation:

By type:

  • Casing Heads

  • Casing Spools

  • Christmas Trees

  • Tubing Adapters

  • Others

By type, the casing coil segment has the largest share in terms of revenue and the tubing adapter segment is predicted to grow over the foreseen period.

By application:

  • On-Shore

  • Off-Shore

Wellhead Equipment Regional Analysis:

  • North American Wellhead Equipment Industry includes U.S, Canada.
  • Europe Wellhead Equipment Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.
  • Asia Pacific Wellhead Equipment Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.
  • Latin America Wellhead Equipment Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.
  • Middle East & Africa Wellhead Equipment Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

North America has the largest market share and dominates the wellhead equipment systems market in 2020. The developed markets of Asia-Pacific and Europe also contribute a fair share of the worldwide wellhead equipment market. wellhead equipment. The evolving landscape of the oil and gas industry, with escalating importance for unconventional oil and gas reserves, is one of the important factors driving the market for wellhead equipment. North America has the largest market share, as unconventional resources expand in countries like the United States and Canada. Call for onshore and offshore fields in the Gulf of Mexico may also enhance market expansion, as drilling activities for oil extraction take place here. Mexico is the third country-specific critical market in this region. In South America, the market may grow during the foreseen period, as there are different oil fields in Brazil and Argentina. Some regional market revenue also comes from oil fields located in other South American countries. The Asia-Pacific market is important because this region has many oil and mineral fields that are extracted from the earth's crust.

Wellhead Equipment Market Key Players:

The key market players profiled in the global wellhead equipment market report 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.

 

1. Introduction                             

              1.1 Market Definition                  

              1.2 Scope of the report               

              1.3 Study Assumptions               

              1.4 Base Currency, Base Year and Forecast Periods                       

2. Research Methodology                                       

              2.1 Analysis Design                      

              2.2 Research Phases                    

                             2.2.1 Secondary Research          

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling    

                             2.2.4 Expert Validation 

              2.3 Study Timeline                       

3. Report Overview                                    

              3.1 Executive Summary              

              3.2 Key Inferencees                     

4. Market Dynamics                                   

              4.1 Impact Analysis                      

                             4.1.1 Drivers     

                             4.1.2 Restaints 

                             4.1.3 Opportunities       

              4.2 Regulatory Environment                    

              4.3 Technology Timeline & Recent Trends                         

5. Competitor Benchmarking Analysis                                

              5.1 Key Player Benchmarking                   

                             5.1.1 Market share analysis       

                             5.1.2 Products/Service  

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape                   

              5.3 Joint Ventures & Collaborations                     

6. Market Segmentation                                          

              6.1 Wellhead Equipment Market, By Type                        

                             6.1.1 Casing Heads        

                             6.1.2 Casing Spools       

                             6.1.3 Christmas Trees   

                             6.1.4 Tubing Adapters  

                             6.1.5 Market Size Estimations & Forecasts (2019-2024) 

                             6.1.6 Y-o-Y Growth Rate Analysis            

                             6.1.7 Market Attractiveness Index          

              6.2 Wellhead Equipment Market, By Application                           

                             6.2.1 On-Shore

                             6.2.2 Off-Shore

                             6.2.3 Market Size Estimations & Forecasts (2019-2024) 

                             6.2.4 Y-o-Y Growth Rate Analysis            

                             6.2.5 Market Attractiveness Index          

7. Geographical Landscape                                     

              7.1 Global Identity Governance and Administration Market, by Region                            

              7.2 North America - Market Analysis (2018 - 2024)                        

                             7.2.1 By Country            

                                           7.2.1.1 USA

                                           7.2.1.2 Canada

                             7.2.2 By Type    

                             7.2.3 By Application      

              7.3 Europe                      

                             7.3.1 By Country            

                                           7.3.1.1 UK

                                           7.3.1.2 France

                                           7.3.1.3 Germany

                                           7.3.1.4 Spain

                                           7.3.1.5 Italy

                                           7.3.1.6 Rest of Europe

                             7.3.2 By Type    

                             7.3.3 By Application      

              7.4 Asia Pacific                

                             7.4.1 By Country            

                                           7.4.1.1 China

                                           7.4.1.2 India

                                           7.4.1.3 Japan

                                           7.4.1.4 South Korea

                                           7.4.1.5 South East Asia

                                           7.4.1.6 Australia & NZ

                                           7.4.1.7 Rest of Asia-Pacific

                             7.4.2 By Type    

                             7.4.3 By Application      

              7.5 Latin America                         

                             7.5.1 By Country            

                                           7.5.1.1 Brazil

                                           7.5.1.2 Argentina

                                           7.5.1.3 Mexico

                                           7.5.1.4 Rest of Latin America

                             7.5.2 By Type    

                             7.5.3 By Application      

              7.6 Middle East and Africa                       

                             7.6.1 By Country            

                                           7.6.1.1 Middle East

                                           7.6.1.2 Africa

                             7.6.2 By Type    

                             7.6.3 By Application      

8. Key Player Analysis                                

              8.1 Delta Corporation                 

                             8.1.1 Business Description         

                             8.1.2 Products/Service  

                             8.1.3 Financials

                             8.1.4 SWOT Analysis     

                             8.1.5 Recent Developments       

                             8.1.6 Analyst Overview 

              8.2 EthosEnergy Group Limited               

              8.3 Integrated Equipment                        

              8.4 Jereh Oilfield Equipment                    

              8.5 Jiangsu Sanyi Petroleum Equipment Co., Ltd              

              8.6 JMP Petroleum Technologies, Inc                   

              8.7 Msp/drilex, Inc                      

              8.8 Uztel S.A                    

              8.9 Sunnda Corporation                           

              8.10 Weir Group                          

9. Market Outlook & Investment Opportunities                             

Appendix                                       

              List of Tables                   

              List of Figures                 

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  • Global Wellhead Equipment Market By Region, From 2021-2026 ( USD Billion )
  • Global Wellhead Equipment Market By Type, From 2021-2026 ( USD Billion )
  • Global Casing Heads Market By Region, From 2021-2026 ( USD Billion )
  • Global Casing Spools Market By Region, From 2021-2026 ( USD Billion )
  • Global Christmas Trees Market By Region, From 2021-2026 ( USD Billion )
  • Global Tubing Adapters Market By Region, From 2021-2026 ( USD Billion )
  • Global Wellhead Equipment Market By Application, From 2021-2026 ( USD Billion )
  • Global On-Shore Market By Region, From 2021-2026 ( USD Billion )
  • Global Off-Shore Market By Region, From 2021-2026 ( USD Billion )

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