NEW YORK, Nov. 21, 2023 /PRNewswire/ -- The christmas trees market is estimated to grow by USD 777.73 million from 2022 to 2027, growing at a CAGR of 4.52%. The Christmas tree market is concentrated owing to the presence of many global and regional companies. A few prominent companies that offer Christmas trees market are Aker Solutions ASA, Baker Hughes Co., Delta Corp., Dril Quip Inc., Halliburton Co., Kingsa Industries (USA) Inc., NOV Inc., Schlumberger Ltd., Solar Alert Sdn Bhd, Stream Flo Industries Ltd., TechnipFMC plc, The Weir Group Plc, and Worldwide Oilfield Machine Inc.. The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying
Company Offering:
- Aker Solutions ASA: The company offers products such as Horizontal Trees, Vertical Trees, and Tubing head spool vertical trees for extreme temperature and pressure ranges.
- Baker Hughes Co: The company offers subsea tree systems named Aptara lightweight compact tree, D Series for deep water, M Series for medium water, S Series for shallow water, and Subsea choke valves
- Delta Corp: The company offers a range of Wellhead Systems, Casing Head Housing, Casing Head Spools, Casing Hangers, C22 Casing hangers, Tubing Spools, Tubing Hangers, and Dual Tubing Hangers
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By Geography, the market is classified as North America, Europe, APAC, Middle East and Africa, and South America. North America will have the largest share of the market.
- North America accounts for 45% of the market growth during the forecast period. One of the main factors that contribute to the market growth in North America is the increased exploration and production activities in countries. In addition, the US has a strong presence of the world's largest technically recoverable shale gas reserves and the second-largest tight oil reserves. Hence, such factors are driving the market growth in North America during the forecast period.
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- Impactful driver- Growing demand for oil and natural gas
- Key Trend - Crude oil exploration
- Major Challenges - Cost and time associated with maintenance
Market Segmentation
- The market share growth by the horizontal tree segment is significant during the forecast period. A horizontal tree is referred to as a workover-friendly tree because the valves are not located in the center of the wellbore, enabling easy tubing retrieval. In addition, These are a vertical assembly of valves with gauges and chokes that allow for flow control adjustments as well as production stimulation injections. Factors such as the governmental push and innovative technologies fuel the growth of this segment which in turn drives the market growth.
Technavio Research experts have provided more insights on the market share of segments - View the Free Sample Report
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Christmas Trees Market Scope |
|
Report Coverage |
Details |
Historic period |
2017-2021 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.52% |
YoY growth 2022-2023 (%) |
4.25 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Key countries |
US, Canada, Saudi Arabia, China, and Germany |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Location
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 17,000 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.
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SOURCE Technavio
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