APAC Liner Hanger System Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.60 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Liner Hanger System Market Analysis
The liner hanger system market in Asia-Pacific is expected to grow at CAGR of more than 6.6% in the forecast period of 2020-2025. Increasing upstream activities in regions like China, Australia, and India are driving the need for liner hanger systems. An increase in exploration activities in the shale reservoir and deepwater reservoirs are also expected to drive the market in the forecast period. On the other hand, the global crude oil price decline in 2020 has led to a halt or delay in various oil and gas projects, which is expected to restrain the market growth.
- With the depletion of onshore reserves, the shift towards offshore exploration is expected to drive the market of liner hangers in the forecast period.
- The exploration of deepwater and ultra-deepwater projects and increasing investment in the shale are likely to create ample opportunities for the market players in the future.
- China is anticipated to dominate the market during the forecast period. With the largest proven reserves of oil and the highest production, the country is expected to lead in the market.
APAC Liner Hanger System Market Trends
This section covers the major market trends shaping the APAC Liner Hanger System Market according to our research experts:
Offshore Sector to Witness Significant Growth
- In Australia, the Browse gas project is expected to be developed in the forecast period. With an estimated capacity of 15.4 trillion cubic feet of dry gas, multiple wells in the future are likely to drive the demand of liner hanger systems offshore.
- Vedanta's upstream subsidiary and Cairn Oil and Gas are planning to invest INR 58,521 crore across to conclude exploration work across 30 blocks in India, With new exploration activities, demand for liner hanger systems is anticipated to rise during the forecast period.
- Further, in India, large new field developments in deepwater are expected to be the key drivers for growth in the Indian liner hanger system market. In April 2018, BP and Reliance Industries sanctioned the 2nd phase development of the 'Satellite cluster' project, located in the Bay of Bengal.
- The increase in global crude oil production to 94.7 million barrels per day has resulted due to the drilling of new wells, which are increasing the demand for casing hardware significantly.
- In 2019, Asia-Pacific produced 65 bcf natural gas per day. With growing investments in offshore gas projects in India, China, Indonesia, and Australia, the new production wells are expected, which are likely to create significant demand for liner hanger systems,
- Due to the COVID-19 pandemic in 2020, delay in upstream projects can be expected. Later in the forecast period, with the initiation of new offshore projects, the market of the liner hanger system is expected to grow considerably.
China to Dominate the Market
- The new reforms related to the oil and gas industry are expected to make it easier for private companies to invest in the country, which, in turn, is expected to help reduce the monopoly of state-owned companies. The growing investment by the private sector is expected to drive the liner hanger system market.
- In January 2018, CNOOC announced its plan to double its exploration activities and proven oil and gas reserves in China over the next seven years. This is expected to boost the demand for the liner hanger systems.
- The shale formations in the country tend to be relatively deep. Also, Chinese shale gas production is expected to mark progress with around 700 planned new wells were coming on-stream in 2018-2020.
- With 3.8 million barrels per day production of crude oil in 2019, new wells are expected to increase production further and drive the market of the liner hanger system in China.
- Factors, such as increasing lateral lengths, growth in the shale gas industry, and country's reforms to boost international participation in the oil and gas sector, are expected to boost the demand for liner hanger systems over the forecast period
APAC Liner Hanger System Industry Overview
The Asia-Pacific liner hanger system market is moderately consolidated. Some of the major companies include National-Oilwell Varco, Inc., Halliburton Company, Weatherford International plc, Baker Hughes, Schlumberger Limited Ltd.
APAC Liner Hanger System Market Leaders
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Halliburton Company
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Weatherford International plc
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Schlumberger Limited
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National-Oilwell Varco, Inc
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Baker Hughes Company
*Disclaimer: Major Players sorted in no particular order
APAC Liner Hanger System Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Scope of Study
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1.2 Market Definiton
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1.3 Study Assumptions
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET OVERVIEW
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4.1 Introduction
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4.2 Market Size and Demand Forecast in USD billion, till 2025
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4.3 Recent Trends and Developments
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4.4 Government Policies and Regulations
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4.5 Market Dynamics
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4.5.1 Drivers
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4.5.2 Restraints
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4.6 Supply Chain Analysis
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4.7 Porter's Five Forces Analysis
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4.7.1 Bargaining Power of Suppliers
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4.7.2 Bargaining Power of Consumers
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4.7.3 Threat of New Entrants
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4.7.4 Threat of Substitute Products and Services
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4.7.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 Conventional
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5.1.2 Expandable
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5.2 Location of Deployment
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5.2.1 Offshore
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5.2.2 Onshore
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5.3 Geogrpahy
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5.3.1 China
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5.3.2 India
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5.3.3 Australia
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5.3.4 Indonesia
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5.3.5 Rest of Asia-Pacific
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
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6.3.1 Halliburton Company
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6.3.2 Weatherford International plc
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6.3.3 National Oilwell Varco Inc.
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6.3.4 Baker Hughes Company
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6.3.5 National-Oilwell Varco, Inc
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6.3.6 Well Innovation AS
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6.3.7 NCS Multistage LLC
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6.3.8 Schlumberger Limited
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6.3.9 Drill-Quip Inc.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
APAC Liner Hanger System Industry Segmentation
The Asia-Pacific liner hanger system market report includes:
| Type | |
| Conventional | |
| Expandable |
| Location of Deployment | |
| Offshore | |
| Onshore |
| Geogrpahy | |
| China | |
| India | |
| Australia | |
| Indonesia | |
| Rest of Asia-Pacific |
APAC Liner Hanger System Market Research FAQs
What is the current Asia-Pacific Liner Hanger System Market size?
The Asia-Pacific Liner Hanger System Market is projected to register a CAGR of greater than 6.60% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Liner Hanger System Market?
Halliburton Company , Weatherford International plc, Schlumberger Limited , National-Oilwell Varco, Inc and Baker Hughes Company are the major companies operating in the Asia-Pacific Liner Hanger System Market.
What years does this Asia-Pacific Liner Hanger System Market cover?
The report covers the Asia-Pacific Liner Hanger System Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Liner Hanger System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Liner Hanger System Industry Report
Statistics for the 2024 Asia-Pacific Liner Hanger System market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Asia-Pacific Liner Hanger System analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
