Global Liner Hanger Systems Market 2019-2023| Increase in Deepwater And Ultra-deepwater Exploration to Boost Demand| Technavio
The global liner hanger systems market is expected to post a CAGR of
close to 5% during the period 2019-2023, according to the latest market
research report by Technavio.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20181206005531/en/
Technavio has released a new market research report on the global liner hanger systems market for the period 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the liner hanger systems market is
the global increase in rig count. As global crude oil prices gradually
recovered to USD 70.7 per barrel in July 2018 after the sudden price
plunge in 2016, the average active rig count increased by 38%. The
increase in the global rig count and the use of liner hanger systems to
reduce total rig time in a well will lead to better productivity and
enhance the oil recovery from the reserve. Therefore, the global liner
hanger systems market is expected to grow with the increase in the
number of active rigs across the world during the forecast period.
This market research report on the global
liner hanger systems market 2019-2023 also provides an analysis
of the most important trends expected to impact the market outlook
during the forecast period. Technavio classifies an emerging trend as a
major factor that has the potential to significantly impact the market
and contribute to its growth or decline.
This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing
In this report, Technavio highlights the increase in deepwater and
ultra-deepwater exploration as one of the key emerging trends in the
global liner hanger systems market:
Global liner hanger systems market: Increase in
deepwater and ultra-deepwater exploration
With the increase in deepwater and ultra-deepwater activities, many
market vendors are introducing liner hanger systems that are
specifically meant for such activities. For example, Halliburton’s
deepwater liner hanger system, XtremeGrip, set a record for the longest
installed expandable liner hanger system in the world. The system was
installed at a depth of 30,924 feet in the Gulf of Mexico. Thus, the
development of liner hanger systems for deepwater and ultra-deepwater
explorations and the increase in deepwater and ultra-deepwater E&P
projects support the growth of the global liner hanger systems market
during the forecast period.
“The equipment related to drilling is undergoing improvements with
innovations to meet the needs of the oil and gas companies. Liner hanger
systems have different areas of applications, including offshore,
onshore, vertical, and horizontal wells. The major market vendors that
provide liner hanger systems are constantly upgrading the reliability of
the equipment, which supports the growth of the market during the
forecast period,” says a senior analyst at Technavio for research on
oil and gas.
Global liner hanger systems market:
Segmentation analysis
This market research report segments the global liner hanger systems
market by applications (onshore and offshore) and geographical regions
(APAC, EMEA, and the Americas).
The Americas led the market in 2018 with a market share of close to 51%,
followed by APAC and EMEA respectively. The Americas is expected to
continue to dominate the market with the highest incremental growth,
followed by APAC and EMEA.
Looking for more information on this market? Request
a free sample report
Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
-
Market ecosystem
-
Market characteristics
-
Market segmentation analysis
Market Sizing
-
Market definition
-
Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
-
Regional comparison
-
Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
-
Vendors covered
-
Vendor classification
-
Market positioning of vendors
-
Competitive scenario
About Technavio
Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team
at media@technavio.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181206005531/en/
Copyright Business Wire 2018