Wellhead Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Wellhead Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • June 2021 •
  • 142 pages •
  • Report ID: 5878860 •
  • Format: PDF
The global wellhead equipment market reached a value of US$ 6.2 Billion in 2020. Looking forward, the analyst expects the market to exhibit moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Wellhead equipment refers to a device that is permanently installed at the surface of an oil and gas well. It provides a structural and pressure interface for the drilling and production equipment and acts as a connection between the tubing and casings of the pipeline. The equipment primarily consists of casing spools, isolation seals, test plugs, mudline suspension system, tubing head, hanger and tubing head adapter. These devices are used to seal the well and suspend the casings and can be configured according to the pressure, temperature, location, well size and drilling method.

Steady growth in the oil and gas industry, along with the increasing number of deep and ultra-deep-water drilling projects, represent as the key factors driving the market growth. Furthermore, growing exploration of unconventional resources like shale oil and coal bed methane (CBM) has led to the increasing utilization of long-suppressed oilfield devices, including wellhead systems, thereby providing a boost to the market growth. Additionally, manufacturers are creating innovative product variants to support the demand for harsher and manually unapproachable drilling environments. For instance, unmanned wellhead platforms are being used as a resting facility on the seabed, where the wells are placed on the platform deck. This acts as an effective alternative to subsea wells and a cost-efficient solution for shallow water developments. Other factors, including the implementation of favourable government initiatives to explore sustainable options for oil extraction, are projected to drive the market further.

Breakup by Component:
Hangers
Flanges
Master Valve
Choke
Others

Breakup by Application:
Onshore
Offshore

Breakup by Sector:
OEM
Aftermarket

Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Aker Solutions ASA, Baker Hughes, Cameron International Corporation, Forum Energy Technologies Inc., Nabors Industries Ltd., National Oilwell Varco Inc., Oil States International Inc., TechnipFMC PLC, Weatherford International PLC, Weir Group PLC, etc. Key Questions Answered in This Report:

How has the global wellhead equipment market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global wellhead equipment market?
What is the breakup of the market based on the component?
What is the breakup of the market based on the application?
What is the breakup of the market based on the sector?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the market?
What is the structure of the global wellhead equipment market and who are the key players?
What is the degree of competition in the market?