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Casing Centralizer Market Size, Share & Industry Analysis, By Type (Spring Type Centralizer, Semi-Rigid Centralizer, Rigid Centralizer, Others), By Application (Onshore, Offshore) And Regional Forecast 2022-2029

Region : | Report ID: FBI105617 | Status : Ongoing

 

KEY MARKET INSIGHTS

A casing centralizer can be defined as a device that is secured around the casing during drilling so that it can hold the pipe in a center position and It permits a uniform cement sheath to be constructed around the pipe. It ensures satisfactory zone isolation at the drilling fluid and it helps in creating a 360-degree annular space around the casing which allows cement to completely seal the casing to the borehole wall.


Based on type, the global casing centralizer market is segmented into spring type centralizer, semi-rigid centralizer, rigid centralizer, and others. The spring-type centralizers segment is likely to witness higher growth during the forecast period. The demand for spring-type casing centralizers is widely increasing as they are extensively used during oil & gas exploration and production processes. The spring-type casing centralizers generate a retraining force using flexible bows that helps in providing separation between the wellbore and casing. The investment in this sector is also increasing and the demand for crude oil is rising rapidly. This drives growth in the spring-type centralizer segment during the forecast period. Rigid centralizers are rugged and work efficiently even in deviated wellbores, irrespective of the side force. This type of centralizer is built of cast iron or solid steel bars and contains fixed blade height and it is sized to fit a specific casing or hole size. However, they are smaller than wellbore and do not provide good centralization than the spring type.


Based on application, the global casing centralizer market is segmented into onshore and offshore. The onshore application segment is estimated to dominate the market during the forecast period. The production and exploration activities are widely increasing in the onshore oil & gas fields. The demand for drilling oil & gas wells is widely increasing to satisfy the needs of expanding industries across the world. This drives growth in onshore application in the casing centralizers market during the forecast period. Offshore drilling provides long-term security and has a longer life span than onshore but they take significantly longer duration to set up and it requires large areas to accommodate production facilities, derricks, etc. Thus, onshore production and exploration are quite popular than offshore.        


The demand for oil & gas is widely increasing among a wide range of industries. The onshore and offshore oil & gas exploration activities are rising and this increases demand for casing centralizers in the market. The adoption of casing centralizers is widely increasing in oilfields and it ensures the quality of drilling and cementing. It has a durable and good structure. However, the outbreak of COVID-19 has impacted the growth of the casing centralizer market as the industrial operations, drilling of new wells has been put on hold. The companies are postponing maintenance due to a sharp drop in global prices of oil. This restraint the growth of the casing centralizer market during the forecast period. 


Key Market Driver -

Rising demand for oil & gas exploration and production activities

Key Market Restraint -

Temporary shutdown of industrial operations due to COVID-19


Key Players Covered:


Some of the major companies in the global casing centralizer market are Neoz Energy Pvt. Ltd., Halliburton, Weatherford International, Summit Casing Equipment, NOV, Sledgehammer Oil Tools Pvt. Ltd., Centek Group, Ray Oiltool Company, Zhongshi Group Co., Ltd., Dezhou Yuanda Petroleum Machinery Co., Drilling Tools International Inc., Schlumberger, and Innovex.


Regional Analysis:


The global casing centralizer market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region is estimated to dominate the casing centralized market during the forecast period. The demand for hydrocarbon from the transport and power generation industries is increasing. The growing production and shale gas exploration activities in this region and boost the demand for casing centralizers. North America region produces 15% of total world’s total crude oil production in 2020, according to Energy Information Administration. This drives growth in the North America region during the forecast period. Asia Pacific region is likely to register significant growth during the forecast period due to growing oil & gas exploration and production activities in this region.


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Segmentation






















  ATTRIBUTE



  DETAILS



 


By Type




  • Spring Type Centralizer

  • Semi-Rigid Centralizer

  • Rigid Centralizer

  • Others



 


By Application




  • Onshore

  • Offshore



 


By Geography




  • North America (U.S. and Canada)

  • Europe (UK, Germany, France, Spain, Italy and Rest of Europe)

  • Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)



Key Industry Developments



  • In February 2021, Centek Group has introduced the new small by mighty OBS-2 centralizer. It is considered as most cost-effective spring centralizer and provides 13.5% improvement in flow by area as compared to standard spring centralizers.

  • In March 2021, Innovex has acquired Rubicon Oilfield International to expand its technological portfolio and to provide customers better drilling, well construction, and other products.


  • Ongoing
  • 2021
  • 2018-2020

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