Industry Background:
A Wellhead is an equipment that is mounted on the top of a natural oil or gas well. Its function is to ensure a safe operation and manage the flow of oil or gas from the well into the collecting system. It comprises valves, spools and assorted adapters that control the pressure of the production well. It finds its usage for providing suspension to casing-strings and acts as an aid for attaching Christmas trees that are used to perform production operations. After the completion of the wellbore, it is used as a medium for injecting things inside the well and also to attach a pump to the wellbore. It can differ in complexity and size according to the type of the well and its location such as land, offshore or subsea locationThis growth is primarily driven by Increased demand for energy resulting in a rise in oil and gas exploration and Growing exploration for renewable energy resources like shale oil and coal bed methane.
Globally, a noticeable market trend is evident The rise in sanctioned oil and gas projects in emerging economies. Major Manufacturers, such as Baker Hughes Inc. (United States), Weir Group (United Kingdom), National Oil Well Varco Inc. (Bermuda), Aker Solutions (Norway), Oil States International. (United States), Cameron International Corporation (United States), Schlumberger Ltd. (United States) and Weatherford International Ltd. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In May 2019, QCI, a producer of the electronic submersible pump (ESP) penetrators and wellhead solutions announced the launch of a gas lift wellhead solution-QCI Gas Lift Wellhead Hanger and Adapter and In August 2018, Trelleborg Sealing Solutions announced the launch of a new metal end cap seal specifically engineered for high temperature/high pressure (HTHP) wellhead tubing and casing hanger sealing environments
In February 2017, Pelican Energy Partners, a Houston-based private equity firm focused on the oilfield equipment and service sector announced the recapitalization and combination of Performance Wellhead & Frac Components, Inc. ("Performance") and Slingshot Supply, Inc. ("Slingshot").
Market Drivers
- Increased demand for energy resulting in a rise in oil and gas exploration
- Growing exploration for renewable energy resources like shale oil and coal bed methane
Market Trend
- The rise in sanctioned oil and gas projects in emerging economies
Restraints
- Fluctuating prices of the crude oil causing delay in oil exploration projects
Opportunities
There is an increasing opportunity for the wellhead manufacturers to tap the rising requirements for wellhead owing to increased oil and gas exploration activities
Challenges
Maintenance issues associated with the wellhead equipment like Chokes, and Valves
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Wellhead Equipments Study Sheds Light on
The Wellhead Equipments Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Wellhead Equipments industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Wellhead Equipments industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.