Onshore Sector is Expected to Dominate the Saudi Arabia Liner Hanger System Market.
Rising
Demand of Oil and Gas & Increasing Consumption rate of Transportation Fuels
is fueling the market growth.
According to TechSci Research report, “Saudi
Arabia Liner Hanger System Market - By Region, Competition Forecast &
Opportunities, 2018-2028F”, the Liner Hanger System Market is expected to register robust growth during the forecast period 2024-2028. In oil and gas
wells, a piece of machinery known as a "liner hanger" is used to
support, hold, and hang liners. Slips are a mechanical component used in liner
hangers that help with installation by giving the liner a solid hold from the
inside. Under an existing casing string, liner hangers help to close open
holes. Different liner hangers are also employed during drilling operations in
challenging and complex well types to avoid difficulties with trapped pipe.
Liner hangers are currently necessary for the majority of oil and gas
completion wells.
A liner hanger
assembly, releasing tool, cementing head, packer, etc. make up a liner hanger
system. A component of well completion, the liner hanger system can be
mechanical, hydraulic, expandable, premium, standard, rotating, or
non-rotating. It can also be pocket slip. Planned production of 0.65 bcm of
natural gas per day by Aramco by 2028 is anticipated to focus on unconventional
gas reserves in North Arabia, the South Ghawar, and the Jafurah Basin, East of
Ghawar.
The nation has
substantial shale reserves, and liner hanger system demand is anticipated to
rise over time as unconventional reserves are mined more frequently. The
onshore segment is anticipated to significantly influence the market since it
has the greatest oil and gas reserves and the highest production from multiple
onshore fields.
– In April 2019,
Saudi Arabia reported 20 operating offshore rigs and 100 active onshore rigs.
Drilling activities are predicted to rise as a result of the deployment of these
rigs, which will most likely lead to an increase in demand for LHS (Liquid Handling Station).
The number of rigs,
total drilled space per well, and technological advancements are all factors
that contribute to the expansion of the market for liner hangers. However, the
high-pressure wellhead housing's restrictions have slowed the market's
expansion. Also, the market's major players have a tonne of chances because of the
rise in used automobile sales.
One of the main oil
and gas producers in the Middle East, Kuwait, generated 12.88 billion standard
cubic meters (bscm) of natural gas and about 2.71 million barrels of crude oil
per day in 2021. The nation will have 1,784 bscm of natural gas and around
101.5 billion barrels of known crude oil reserves in 2021.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on the "Saudi Arabia Liner Hanger System Market."
The Saudi Arabia Liner
Hanger System Market is segmented into Well type, Hanger Type, and Application.
Based on well type, the market is segmented into horizontal/ directional well
and vertical well.
Based on hanger
type, the market is divided into Mechanical liner hangers, Hydraulic liner
hangers, and Expandable liner hangers. Due to their relatively lower cost and
easy operation, mechanical liner hangers are favored in shallow depths. It is
projected that the demand will continue to be focused on Brazil, Nigeria,
Canada, the United States, and Angola since expandable liner hangers are
intended to be used in deep-water wells where heavy and lengthy liners are
installed.
Based on
application, the market is split into onshore and offshore. Over the next years, the onshore sector is expected to dominate the
global market for liner hanger systems. The onshore segment's market share for
liner hanger systems will grow considerably throughout the expected time frame.
A rise in shale oil and gas E&P operations is anticipated to promote the
expansion of the onshore oil and gas equipment industry and, therefore, the global
market for liner hanger systems in the future years will grow.
Major market players in the Saudi Arabia
Liner Hanger System Market are: -
- National-Oilwell
Varco, Inc
- Halliburton Company
- Weatherford International plc
- Baker Hughes Company
- Schlumberger Limited
- NOV Inc.
- SCM Daleel
- Allamon Tool Company Inc.
- Tianjin Elegant Technology
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“The market for liner hangers is
expanding due to a rise in the number of rigs, an increase in the amount of
total drilling space per well, and technical improvement. However, the
high-pressure wellhead housing's restrictions have slowed the market's
expansion. Additionally, the market's major players have a tonne of potential,
thanks to the rise in used automobile sales." said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based Global management consulting firm.
Saudi
Arabia Liner Hanger System Market –Segmented By Well
Type (Horizontal/ Directional well, Vertical Well), By Hanger Type (Mechanical
liner hangers, Hydraulic liner hangers, Expandable liner hangers), By
Application (Onshore, Offshore), By Region, Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028F has evaluated the future
growth potential of Saudi Arabia Liner Hanger System Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities Saudi Arabia Liner Hanger
System Market.
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