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Wellhead Global Equipment During the forecast period of 2023–2030, market share will increase approximately at a CAGR of 4.25%. By 2030, it would amount to USD 7.20 billion. Growing drilling activity is one of the key factors propelling the global market. The United States Energy Information Agency also noted an increase in oil output in the country in 2017, mostly as a result of rising oil prices that stimulated more drilling.An essential part of the gas and oil business, the wellhead is located at the well's surface and serves as a pressure-containment interface for drilling and producing machinery. Typically, it is employed to join tubing and casing to an oil and gas pipeline. The market for wellhead equipment benefits from a shift towards an environmentally cleaner method of recovering oil and gas.
FMC Technologies and Baker Hughes, both US-based businesses, are the primary players in the global oil and gas wellhead industry. Aker Solutions, Cameron International Corporation, Weir (UK), and Stream Flo Industries Ltd. are similar businesses. The Abu Dhabi National Oil Company said in November 2021 that it will invest up to USD 6 billion in drilling expansion to increase crude oil production capacity to approximately 5 billion barrels per day by 2030.
Similarly, it is anticipated that the onshore segment would rule the market during the projection period due to ongoing rising onshore development in North America and also in the Asia Pacific region. By 2022, India also intends to cut its imports of crude oil by around 10%. Additionally, the government has made it simpler for foreign businesses to enter the market with the new licencing legislation.
The market for wellhead equipment has been divided into segments by component, application, and geography. The market is divided into hanger, flange, master valve, choke, and others based on component. Because it is a crucial part of the wellhead equipment system and is utilised in multi-bowl wellheads, the hanger sector is in the lead and holds the biggest market share. A slide and seal casing hanger assembly and a mandrel-style casing hanger are the two main types of hanger systems. The global market is further divided into onshore and offshore applications based on application. The worldwide wellhead equipment market's onshore segment is anticipated to develop at the fastest rate during the projected period.
An important part of the oil and gas business is the wellhead, which is located at the well's surface and serves as a pressure-containment interface for the drilling and production machinery. The major application for it is to join the tubing and casing to an oil and gas pipeline. Crosses, tubing head spools, casing heads, and casing spools are a few of the parts of a wellhead equipment. The market for wellhead equipment would benefit from the change to an environmentally safe method of oil and gas recovery.
Report Coverage
Global Wellhead Equipment research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Wellhead Equipment report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Wellhead Equipment competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Wellhead Equipment market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Wellhead Equipment market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Wellhead Equipment market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
FMC Technologies (US), Baker Hughes (US), Weir (UK), Aker Solutions (Norway), Cameron International Corporation (US), Stream-Flo Industries Ltd (Canada), Wellhead Systems, Inc. (US), Oil States International, Inc. (US), National Oilwell Varco (US), Shanghai Elim Petroleum Machinery (China), Forum Energy Technologies (US), and Brace Tool (Canada)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Wellhead Equipment market based on the below-mentioned segments:
Global Wellhead Equipment Market, By Component
Hanger
Flange
Master Valve
Choke
Others
Global Wellhead Equipment market, By Application
Onshore
Offshore
Global Wellhead Equipment market, Regional Analysis
FMC Technologies and Baker Hughes, both US-based businesses, are the primary players in the global oil and gas wellhead industry. Aker Solutions, Cameron International Corporation, Weir (UK), and Stream Flo Industries Ltd. are similar businesses. The Abu Dhabi National Oil Company said in November 2021 that it will invest up to USD 6 billion in drilling expansion to increase crude oil production capacity to approximately 5 billion barrels per day by 2030.
Similarly, it is anticipated that the onshore segment would rule the market during the projection period due to ongoing rising onshore development in North America and also in the Asia Pacific region. By 2022, India also intends to cut its imports of crude oil by around 10%. Additionally, the government has made it simpler for foreign businesses to enter the market with the new licencing legislation.
The market for wellhead equipment has been divided into segments by component, application, and geography. The market is divided into hanger, flange, master valve, choke, and others based on component. Because it is a crucial part of the wellhead equipment system and is utilised in multi-bowl wellheads, the hanger sector is in the lead and holds the biggest market share. A slide and seal casing hanger assembly and a mandrel-style casing hanger are the two main types of hanger systems. The global market is further divided into onshore and offshore applications based on application. The worldwide wellhead equipment market's onshore segment is anticipated to develop at the fastest rate during the projected period.
An important part of the oil and gas business is the wellhead, which is located at the well's surface and serves as a pressure-containment interface for the drilling and production machinery. The major application for it is to join the tubing and casing to an oil and gas pipeline. Crosses, tubing head spools, casing heads, and casing spools are a few of the parts of a wellhead equipment. The market for wellhead equipment would benefit from the change to an environmentally safe method of oil and gas recovery.
Report Coverage
Global Wellhead Equipment research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Wellhead Equipment report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Wellhead Equipment competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Wellhead Equipment market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | FMC Technologies (US), Baker Hughes (US), Weir (UK), Aker Solutions (Norway), Cameron International Corporation (US), Stream-Flo Industries Ltd (Canada), Wellhead Systems, Inc. (US), Oil States International, Inc. (US), National Oilwell Varco (US), Shanghai Elim Petroleum Machinery (China), Forum Energy Technologies (US), and Brace Tool (Canada) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Wellhead Equipment Market from 2021 to 2030.
- Market Forecast for Wellhead Equipment Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Wellhead Equipment competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Wellhead Equipment
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Wellhead Equipment market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Wellhead Equipment market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
FMC Technologies (US), Baker Hughes (US), Weir (UK), Aker Solutions (Norway), Cameron International Corporation (US), Stream-Flo Industries Ltd (Canada), Wellhead Systems, Inc. (US), Oil States International, Inc. (US), National Oilwell Varco (US), Shanghai Elim Petroleum Machinery (China), Forum Energy Technologies (US), and Brace Tool (Canada)
Primary Target Market
- Market Players of Wellhead Equipment
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Wellhead Equipment market based on the below-mentioned segments:
Global Wellhead Equipment Market, By Component
Hanger
Flange
Master Valve
Choke
Others
Global Wellhead Equipment market, By Application
Onshore
Offshore
Global Wellhead Equipment market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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