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[ 英語タイトル ] Europe Liner Hanger System Market - Growth, Trends, and Forecasts (2020 - 2025)


Product Code : MDEP0087783
Survey : Mordor Intelligence
Publish On : November, 2020
Number of Pages : 110
Category : Energy and Power
Report format : PDF
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 - Halliburton Company
- Weatherford International plc
- National Oilwell Varco Inc.
- Baker Hughes Company
- National-Oilwell Varco, Inc
- Well Innovation AS
- NCS Multistage LLC
- Schlumberger Limited
- Drill-Quip Inc.

[Report Description]

The liner hanger system market in Europe is expected to grow at CAGR of more than 3.4% in the forecast period of 2020 - 2025. A recent surge in upstream activities in Russia and Norway is likely to boost the demand for liner hanger systems (LHS) in the region. Additionally, Romania, Turkey, Germany, and the Netherlands are some of the major markets, which are expected to create opportunities for LHS manufacturers. On the other hand, the global crude oil price decline in 2020 has led to a halt or delay in various oil and gas projects. Also, declining production in Norway, Denmark, and Italy are expected to restrain the expected growth in the forecast period.

- With declining onshore reserves and developing offshore deepwater and horizontal wells, the offshore market is expected to witness the highest growth in the forecast period.
- The Bowland Shale in Northern England and the Midland Valley of Scotland and the Weald Basin in Southern England are expected to create drilling and completion opportunities in the future, driving the market of the liner hanger system.
- With oil production of 11.5 million barrels per day in 2019, Russia is one of the leading markets for the liner hanger systems in the region and is expected to continue its dominance in the forecast period.

Key Market Trends

Offshore Market is Expected to Witness the highest growth

- A liner hanger system consists of a liner hanger assembly, releasing tool, cementing head, packer, etc. The liner hanger system is a part of well completion and can be mechanical or hydraulic, premium, or standard, rotating or non-rotating, conventional or expandable, and pocket slip.
- Liner hanger system is expected to witness growth in 2019, as the high pressure, high-temperature Culzean gas field in the central North Sea, one of the biggest start-ups, comes onstream.
- Estimates suggest that the amount of shale gas lies between 2.8 and 39.9 trillion cubic meters (TCM). However, public opposition, due to the environmental risk associated with fracking, has become one of the biggest hurdles in shale gas development in the United Kingdom. This eventually restrains the possible growth of the liner hanger system.
- In July 2018, Equinor applied for development and operation for Phase 3 of Troll, which entails producing the gas cap in Troll Vest. Such activities are a good indicator of market demand for oilfield equipment, such as liner hanger systems.
- Owing to the declining crude oil production to 17 million barrels per day in Europe, the growth of the liner hanger system is less in comparison to other global regions.
- Although most of the reserves in the North Sea area in the declining phase. With large scale exploration activities in Russia, the market of liner hanger in the offshore segment is expected to grow significantly.

Russia to Dominate the Market

- In 2019, Russia held a 20% share of global drilling activities, followed by the United States. With this, Russia is leading in the European region in terms of the liner hanger system market also.
- Horizontal drilling is growing at a significant pace in the country, reaching from a mere 12% of the total drilling in 2011 to approximately 48% in 2018. With this, the demand for liner hanger systems is likely to grow in the coming years.
- Gazprom Neft continues to conduct studies on its Bazhenov acreage and is targeting 40,000 b/d of production from shale by 2023. With this significant demand for the liner, hangers can be expected in the forecast period.
- Drilling activity by the length in Russia witnessed a steady CAGR of 6.47% during 2011-2018, reaching 76 kilometers per day in 2018. The increased drilling length is also driving the demand for liner hanger systems.
- Demand for the liner hanger system in Russia is expected to continue to increase, in line with the drilling volume, driven by the considerable increase in the number of rigs and a higher proportion of rigs being used for horizontal drilling.

Competitive Landscape

The Europe liner hanger system market is moderately consolidated. The major companies include National-Oilwell Varco, Inc., Halliburton Company, Weatherford International plc, Baker Hughes, and Schlumberger Limited Ltd.

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1 INTRODUCTION
1.1 Scope of Study
1.2 Market Definiton
1.3 Study Assumptions

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Type
5.1.1 Conventional
5.1.2 Expandable
5.2 Location of Deployment
5.2.1 Offshore
5.2.2 Onshore
5.3 Geography
5.3.1 United Kingdom
5.3.2 Norway
5.3.3 Russia
5.3.4 Rest of Europe

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Halliburton Company
6.3.2 Weatherford International plc
6.3.3 National Oilwell Varco Inc.
6.3.4 Baker Hughes Company
6.3.5 National-Oilwell Varco, Inc
6.3.6 Well Innovation AS
6.3.7 NCS Multistage LLC
6.3.8 Schlumberger Limited
6.3.9 Drill-Quip Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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