Well Casing Market - Forecast(2024 - 2030)
Casing refers to large diameter pipe that is inserted in the drill portion of the bore well. This casing is generally held in the position with the help of cement or other materials between the casings and wellbore. Well casing is considered as a significant part of the well completion activity. It provides structural support and strengthens the walls of the well. It also prevents unwanted fluid or gases including surface water, ground water and others from entering the well. Moreover, it also protects the equipment such as pumps and rising main from damage.
The well casing market is segmented by type that comprises of conductor casing, surface casing, intermediate casing, production casing and others. The market has been segmented by equipment that includes liners, centralizers, wiper plugs, float equipment and others. This is followed by function of the well casing consisting of Zone Isolation and segregation, corrosion control, pipe strength improvement and others. The market is also segmented based on the location that include offshore and onshore.
The well casing market had revenues of around $XX bn in 2015 and this is estimated to grow at a CAGR of XX% during 2016 – 2021 to reach $XX bn in 2021. The market has been segmented on the basis of geography that includes North America, Asia Pacific, Europe and RoW. Increasing drilling activities both offshore and onshore for oil and gas exploration is the main driver for well casing market. North America has the largest market share for well casing market owing to the key players present in the region. Moreover, the rise in capital expenditure in exploration and production activities will also accelerate the well casing market.
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Sample Companies profiled in this Report are:
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