Global Wellhead Equipments Market Overview:
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 location Some of the key players profiled in the study are Baker Hughes Inc. (United States), Weir Group (United Kingdom), National Oil Well Varco Inc. (Bermuda), Baker Hughes (United States), Aker Solutions (Norway), Oil States International. (United States), Cameron International Corporation (United States), Schlumberger Ltd. (United States), Weatherford International Ltd. (United States) and National Oilwell Varco Inc. (United States).
On the basis of geography, the market of Wellhead Equipments has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Manufacturing Material, the sub-segment i.e. Carbon Steel will boost the Wellhead Equipments market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Direct Sales will boost the Wellhead Equipments market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Drilling Type, the sub-segment i.e. Well will boost the Wellhead Equipments market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- 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
- The rise in sanctioned oil and gas projects in emerging economies
- Fluctuating prices of the crude oil causing delay in oil exploration projects
- There is an increasing opportunity for the wellhead manufacturers to tap the rising requirements for wellhead owing to increased oil and gas exploration activities
- Maintenance issues associated with the wellhead equipment like Chokes, and Valves
Major Market Developments:
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").
The Market For The Wellhead Equipment Is Fragmented With The Presence Of Many Players Worldwide. Leading Players Can Adopt Strategies Like As A Merger, Acquisition, Expansion, New Product Launches, In Order To Gain Share Within The Market. Owing To Booming Energy Exploration Industry, There Are Growing Prospects for the New Players to Expand Their Market
Manufacturers of Wellhead Equipment, Distributors/Traders, Importers/Exporters, Investors, Regulatory and Government Bodies, Downstream Vendors, Up-Stream Vendors and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Wellhead Equipments market on the basis of product [Flanges, Master valve, Choke, Hangers, Hangers, Casing Heads, Casing Spools, Tubing Heads, Secondary Seals, Tubing Head Adapters and Others] , application [Onshore and Offshore], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Wellhead Equipments market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Wellhead Equipments industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are Great Lakes Wellhead, Inc. (United States), Performance Wellhead & Frag Components Inc. (United States), Cactus Wellhead, LLC. (United States), FMC Technologies (Netherlands), Stream-Flo Industries (Canada), Aker Solutions (Norway), Cameron (United States), Drill Quip (United States), National OilWell Varco (United States) and Shanghai Wellhead Equipment Manufacture (China).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Wellhead Equipments market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.