Oilfield Casing Spools Market to increase by USD 45.22 million between 2023 to 2028- Technavio
NEW YORK, Oct. 30, 2023 /PRNewswire/ -- The oilfield casing spools market size is expected to grow by USD 45.22 million from 2023 to 2028, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 6.56% during the forecast period. Increasing investments in upstream oil and gas operations are notably driving the oilfield casing spools market. However, factors such as fluctuation in oil and gas prices may impede market growth. The market is segmented by type (stainless steel and low alloy steel), application (onshore and offshore), and geography (North America, APAC, Europe, Middle East and Africa, and South America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format
Key Segment Analysis
- The market share growth by the stainless steel segment is significant during the forecast period. There is an increasing emphasis by global governments, particularly the US Department of Energy (DOE) for r ecologically responsible and sustainable practices in the oil and gas industry. Therefore, such objectives can be achieved by utilizing stainless steel casing spools which is fuelling the growth of this segment which in turn drives the oilfield casing spools market growth during the forecast period.
To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.
Geographical Market Analysis
- North America accounts for 44% of the global market growth during the forecast period. Some of the main countries in North America which are significantly contributing to the market growth include the US, Canada, and Mexico as these countries are among the largest oil and gas producers in the world. Furthermore, Canada and the US are among the top five crude oil producers in the world and one of the significant suppliers of reliable crude oil to international markets. Hence, such factors drive the oilfield casing spools market growth in the region during the forecast period.
Company Insights
The oilfield casing spools market is concentrated, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:
Baker Hughes Co., Delta Corp., Jiangsu HongFei Petroleum Machinery Manufacturing Co. Ltd., Parveen Industries Pvt. Ltd., Sakward Oilfield Manufacturing Co. Ltd., Schlumberger Ltd., Sentry Wellhead Systems LLC, Shaanxi FYPE Rigid Machinery Co. Ltd., UZTEL SA, Worldwide Oilfield Machine Inc., and Yantai Jereh Oilfield Services Group Co. Ltd.
- View the PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
Related Reports:
The oil and gas upstream equipment market size is estimated to grow at a CAGR of 3.26% between 2024 and 2028. The market size is forecast to increase by USD 11,226.76 million.
The industrial valves market in the oil and gas industry size is estimated to grow at a CAGR of 3.79% between 2023 and 2027. The market size is forecast to increase by USD 2,509.5 million.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Application
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
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.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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