Attractive Opportunities in the Well Casing & Cementing Market by 2024

According to the new market research report "Well Casing & Cementing Market by Type (Casing, Cementing), Service (Casing pipe, equipment & services, Cementing equipment & services), Operation (Primary, Remedial), Application (Onshore, Offshore), Well, and Region – Global Forecast to 2024", published by MarketsandMarkets™, the Well Casing & Cementing Market is projected to reach USD 11.7 billion by 2024 from an estimated USD 9.2 billion in 2019, at a CAGR of 5.0% during the forecast period. Increasing drilling activities along with shale developments in North America, Asia Pacific, and some parts of South & Central America are the driving factors for the Well Casing & Cementing Market, globally. The well completion procedure involves well casing & cementing as primary operations, which are directly affected by the rising exploration & production activities.

The cementing segment is expected to be the fastest growing Well Casing & Cementing Market, by type, during the forecast period. 

The cementing segment of the Well Casing & Cementing Market is estimated to grow at the fastest rate during the forecast period. This is mainly because the cost of cementing operations is lower compared to the casing activities. Moreover, the process of well cementing is challenging as it requires a more technical skillset, thus demanding appropriate equipment and manual workforce. The cementing related equipment are costlier, although the volume used is less. Additionally, the cementing services do not have any alternative, unlike casing, where liner systems can be used as a substitute. Such factors propel the growth of cementing operations in the Well Casing & Cementing Market.

Browse and in-depth TOC on “Well Casing & Cementing Market”

134 - Tables

55 - Figures

197 - Pages

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The primary cementing operation segment is expected to dominate the Well Casing & Cementing Market, by operation type, during the forecast period.

Primary cementing is the initial method undertaken to cement the casings and fit the equipment, giving tensile strength to the well. According to industry experts, primary cementing is a widely accepted practice, globally. The other cementing processes, which include remedial cementing and stage cementing, are undertaken only when primary cementing fails. Thus, in order to save capital and operational expenditures, primary cementing is done. Moreover, the increased horizontal drilling activities have provided market opportunities for primary cementing.

North America: The largest Well Casing & Cementing Market.

In this report, the Well Casing & Cementing Market has been analyzed with respect to 6 regions, namely, North America, South & Central America, Europe, Asia Pacific, Middle East, and Africa. According to the IEA, the US is determined to become the net exporter of energy by 2020; and to fulfill this objective, the oil production is being increased across the nation. Moreover, the US retained its position as a top oil producer in 2018, due to the shale revolution.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Well Casing & Cementing Market.

Some of the key players are Schlumberger (US), Halliburton (US), NOV (US), Weatherford (US), and BHGE (US). The leading players are adopting various strategies to increase their share in the Well Casing & Cementing Market. Contracts & agreements has been a widely adopted strategy by the major players in the Well Casing & Cementing Market.

Gas Turbines Market Insights with statistics and Growth Prediction 2017 to 2022

The gas turbines market is estimated to be USD 17.51 billion in 2017 and is projected to reach USD 20.66 billion by 2022, at a CAGR of 3.36%, from 2017 to 2022. The increasing demand for natural gas-fired power plants, rising demand for electricity, reduction in emissions of carbon dioxide, and availability of efficient power technology are driving the gas turbines market. Natural gas is the cleanliest source of fossil fuel used to support intermittent generation from renewable sources. Thus, an increase in the demand for natural gas power plants is expected as governments implement strict norms for the emission of carbon dioxide. The shale gas boom in North America and the decommissioning of nuclear plants in Europe are likely to boost the demand for gas turbines in these regions. The demand for gas turbines in the Middle East & Africa, Latin America, and the Asia Pacific is expected to be influenced by the new gas-fired power plants and the upgrade of old existing thermal power plants in the regions. Natural gas price volatility and natural gas infrastructure concerns are the major restraining factors for the gas turbines market.

Scope of the Report:

Application

·         Power Generation

·         Oil & Gas

·         Other Industrial

Rating Capacity

·         Less than 40 MW

·         40–120 MW

·         120–300 MW

·         Above 300 MW

Region

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East & Africa

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The power generation application segment is expected to be the fastest growing segment during the forecast period. The demand for electricity is growing due urbanization and industrialization. Gas turbines are used in open cycle and combined cycle plants. Combined cycle power plants are more efficient than steam turbines as they generate more power. Gas turbines are used in utilities for base load standby power and peak load applications. The power generated from combined cycle power plants have lower carbon dioxide emissions and governments are implementing stricter norms on such emissions. Thus, an increase in the demand for natural gas power plants will lead to the growth of the power generation segment. In the oil & gas application, gas turbines are used to pump natural gas through pipelines where a small part of the pumped gas serves as the fuel. Industrial gas turbines range from 1,000 to 50,000 HP, with a majority installed in the oil & gas industry.

The market in the Asia Pacific is expected to grow at the highest CAGR from 2017 to 2022.

The market in the Asia Pacific is currently the largest for gas turbines, followed by the North American and European markets. The Japanese market accounted for a majority share of the Asia Pacific market in 2016 while China is projected to grow at the highest CAGR, from 2017 to 2022 The slowdown in the nuclear power industry due to the Fukushima incident and the continuing replacement of nuclear and aging coal plants with gas-fired ones would continue to drive the Japanese gas turbines market. In developing countries such as China and India, the demand for gas turbines is spurred on by factors such as the increasing demand for electricity fueled by high levels of urbanization, industrialization, and infrastructural developments and the subsequent investments in developing new large gas-fired combined cycle power generation.

The leading players in the gas turbines market include GE (US), Siemens (Germany), MHPS (Japan), and Ansaldo (Italy).

Smart Meters Market: a New Era for Power and Utilities Industry

The smart meters market is projected to reach USD 19.98 billion by 2022, at a CAGR of 9.34% from 2017 to 2022. The North American market is estimated to be the largest market for smart meters, followed by Asia-Pacific in 2017. This trend is expected to continue till 2022. Smart meters are used in the industrial, commercial, and residential sector, measuring energy consumption of the consumers. Factors such as government policies & mandates in developed economies and accurate billing & improved customer service are driving the market globally. Residential customers are the fastest end-users of smart meters, followed by commercial and industrial customers. High installation costs for end-users would be a restraint for the smart meters market.

Target Audience:

·         Electric, water, and gas utilities

·         Smart electric, gas, and water manufacturing companies

·         Distributed energy generation solution providers

·         Smart electric, water, and gas meter vendors

·         Government and industry associations

·         State and national regulatory authorities

·         Distribution grid operators

·         Energy regulatory agencies

·         Investors and financial community professionals

·         State or government-owned corporations

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Scope of the Report:

By Type

·         Smart Energy Meters

·         Smart Water Meters

·         Smart Gas Meters

By Application

·         Industrial

·         Commercial

·         Residential

By Technology

·         Automatic Meter Reading (AMR)

·         Advanced Metering Infrastructure (AMI)

By Region

·         North America

·         Europe

·         Asia-Pacific

·         South America

·         Middle East

·         Africa

North America: The leading market for smart meters

The North American market dominates the smart meters market during the forecast period. In North America, the growth of the smart meters market can be attributed to focus on electricity, water, & gas, monitoring & prevention of leakage, and the repair & upgrade of aging infrastructure. Lot of smart meters rollouts are taking place in countries such as the U.S., Canada, and Mexico which would impart growth in the North American region.

Market Ecosystem:

The smart meters market ecosystem comprises of power and automation technology companies such as Itron, Inc. (U.S.), Kamstrup A/S (Denmark), Holley Metering, Ltd. (China), Honeywell International, Inc. (U.S.), and Toshiba Corporation (Japan), among others.