250 Pages Casing Centralizers Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.
The report offers actionable and valuable market insights of Casing Centralizers. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Casing Centralizers Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Casing Centralizers market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Casing Centralizers
This newly published and insightful report sheds light on Market Insights of Casing Centralizers, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Casing Centralizers Market.
The global casing centralizers market is anticipated to grow at a CAGR of 3.9% to create an absolute $ opportunity of more than US$ 215.9 million during the forecast period (2020-30). It is anticipated to be valued at more than US$ 675.0 million by 2030-end, according to a new Fact.MR study.
Increasing demand for oil and gas from a wide range of industries remains the key driving factor for the casing centralizers market growth. Subsequently, an estimated rise in both offshore and onshore oil & gas exploration activities is expected to propel the demand for casing centralizers.
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Key Segments of the Casing Centralizers Market
The Fact.MR’s study on the casing centralizers market offers information divided into three key segments-product, application, and materials across five regions. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
Product
- Bow Spring Casing Centralizers
- Rigid Blade Casing Centralizers
- Semi-Rigid Casing Centralizers
- Inter-Casing Centralizers Sub
Application
- Onshore
- Offshore
Materials
- Steel
- Aluminium
- Zinc
- Polymer
- Resin
Region
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
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Key Players
The casing centralizers market is highly consolidated in nature. Leading players are prioritizing the introduction of new products to strengthen their position in the market.
For instance, in April 2020, Centek Group developed a hinged centralizer to reduce the transportation costs and storage. The new hinged centralizer has no weak spots and can be used in challenging wells.
Leading players operating in the global casing centralizers market include Halliburton, Maxwell Oil Tools Ltd, Moonshine Solutions AS, NeOz Energy, National Oilwell Varco, Summit Casing Equipment, and Weatherford International.
However, amidst the COVID-19 outbreak, several companies have temporarily abandoned discoveries of new oil & gas fields, aligning with social distancing requirements and stay at home orders. A halt in operation of several end-use industries along with closures of production facilities and supply chains disruptions has creating a logistical havoc in the casing centralizers market. As the pandemic fades with significant containment measures and resumption of factories in the most affected countries such as China, the casing centralizers market is expected to rebound by the second half of the forecast period and create significant opportunities for manufacturers.
Key Takeaways of Casing Centralizers Market Study
- The global casing centralizers market is expected to grow at a volume CAGR of 3.7% and expand 1.4X through 2030.
- Bow spring casing centralizers will continue to hold maximum share of the total market value and create an absolute $ opportunity of US$ 93.5 million during the forecast period.
- Onshore application of casing centralizers is expected to grow at a value CAGR of 3.8%, however, lose 110 BPS from its market share through 2030.
- Steel remains the material of choice and accounts for nearly three-fifth of the overall casing centralizers market value.
- North America will remain at the forefront, accounting for more than 45% share of the global market value, owing to rapid exploration of unconventional resources.
“The adoption of casing centralizers is expected to be on a significant rise, with an estimated increase in the greenfield and brownfield projects in the upstream. However, postponement and cancellation of these projects and delays in investment in oil & gas exploration, due to the COVID-19 outbreak, will hinder the casing centralizers market growth in the first half of the forecast period,” concludes the Fact.MR analyst.
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More Valuable Insights on Casing Centralizers Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Casing Centralizers, Sales and Demand of Casing Centralizers, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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