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.
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.
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.
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.
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.
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 |
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
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.
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
