Global Wellhead Equipment Market was valued at US$ XX Bn in 2019 and is expected to reach XX Bn by 2027, at a CAGR of XX % during the forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Global Wellhead Equipment Market, Definition:
A wellhead is a vital component, which is extensively used in the oil & gas industry, at the surface of a well to deliver pressure containing an interface for the drilling and production equipment. It is mostly used to connect the tubing and casing to an oil & gas pipeline.
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Global Wellhead Equipment Market Dynamics:
A growing number of rig counts, well completion, and drilling activities are expected to drive the global wellhead equipment market. Increasing crude oil prices coupled with growing crude oil production is projected to boost the wellhead equipment market growth. In addition, growing deep drilling, and ultra-deep drilling activities for oil and gas are also increasing the demand for wellhead equipment. Growing exploration of unconventional resources like shale oil, coal bed methane is expected to drive the global wellhead equipment market.
Oil and gas projects are expected to benefit as they will receive investments, resulting in the growth of the global wellhead equipment market. Oil and gas are one of the major industries in the globe in terms of revenue generation. The industry has a significant share of the government as it comprises the majority of the key players, which generate $ XX billion of dollars contributing significantly toward the economic development for the market growth.
Segment Analysis of the Global Wellhead Equipment Market:
The onshore segment is expected to grow at a XX % rate of CAGR during the forecast period. The growth in the market is attributed to the swelling demand for energy from the developing economies across the globe. The rising demand for energy is expected to increase exploration and production activities. Additionally, the rise in rig count and unconventional sources are some of the factors, which are expected to increase the demand for wellhead equipment.
Regional Insights of the Global Wellhead Equipment Market:
By geographic region, North America is estimated to contribute $ XX Mn share in the global wellhead equipment market owing to the maximum number of oil rigs in this region, the wellhead equipment market potential is increasing. Moreover, new exploration and drilling projects in this region are expected to propel the growth of the wellhead components market in the next five years. Shifting oil and gas sector scenario with growing importance towards unconventional oil and gas reserves is one of the important factors, which is expected to boost the wellhead equipment market in the region.
The objective of the report is to present a comprehensive assessment of the market and contain thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments and, projects the global wellhead equipment market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global wellhead equipment market.
Scope of the Global Wellhead Equipment Market Report: Inquire before buying
Global Wellhead Equipment Market, by Component
• Hangers
• Flanges
• Master valve
• Casing Heads
• Casing Spools
• Tubing Heads
• Secondary Seals
• Tubing Head Adapters
• Choke
• Others
Global Wellhead Equipment Market, by Application
• Onshore
• Offshore
Global Wellhead Equipment Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in the Global Wellhead Equipment Market:
• Baker Hughes - a GE Co.
• Schlumberger Ltd.
• Weatherford International Ltd.
• National Oilwell Varco Inc.,
• Great Lakes Wellhead, Inc.
• Performance Wellhead & Frag Components Inc.
• Cactus Wellhead, LLC.
• FMC Technologies
• GE-Alstom Grid
• Baker Hughes
• Stream Flo
• Aker Solutions
• Cameron
• Drill Quip
• National Oil Well Varco
• Shanghai Wellhead Equipment Manufacture
• Wellhead System
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