| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2020 - 2023 |
| CAGR | 1.65 % |
| Fastest Growing Market | Middle-East and Africa |
| Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Casing & Cementation Hardware Market Analysis
The Casing and Cementation Hardware Market is expected to register a CAGR of greater than 1.65% during the forecast period.
- The casing is a steel tubular that runs through the well depth. With deepwater project and horizontal drilling, more length of casing and hardware are being used, which is resulting in market dominance.
- In the future, with high-pressure high-temperature ultradeep projects and a growing shift towards shale and condensates, large scale opportunities are expected to be provided for the casing and cementation hardware companies.
- Middle-East and Africa is anticipated to witness significant growth in the market in the forecast period, owing to the upcoming upstream projects in the region.
Casing & Cementation Hardware Market Trends
Casing Hardware to Dominate the Market
- Successful casing installation requires several tools and equipment like floating equipment, stage tools, centralizers, scratchers, casings, liners, and others.
- Despite global crude price fall in 2020, Petroleos Mexicanos is aiming to double the drilling wells to 423 in 2020. New wells are expected to create significant demand for casing hardware in the forecast period.
- Vedanta's upstream subsidiary, Cairn Oil and Gas, is planning to invest INR 58,521 crore across to conclude exploration work across 30 blocks in India, With new exploration activities, demand for casing and cementation is anticipated to rise during the upcoming period.
- Surat Gas project in Australia is expected to hold more than 60% of the country's proven coal seam gas. With an estimated project development cost of USD 7.15 billion, the project is expected to be initiated by 2021. Multiple wells will be drilled, requiring casing and equipment at a massive scale.
- The increase in global crude oil production to 94.7 million barrels per day has resulted due to the drilling of new wells, which are increasing the demand for casing hardware significantly.
- Due to the Coronavirus pandemic in 2020, delay in upstream projects is anticipated to slowdown the growth of the market. However, later in the forecast period, with the initiation of projects, casing hardware is expected to dominate the market.
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Middle-East and Africa to Witness Significant Growth
- Pars Oil and Gas company is expected to develop phases 13 and 14 of South Pars gas field in 2020. Thirty-eight new wells in phase 13 and 44 new wells in phase 14 are to be drilled, which will require casing hardware for completion work in the forecast period.
- Middle-East has the largest proven reserves of oil. With 113 thousand million tons of crude reserves, large scale drilling and completion activities are expected in the region, driving the casing and cementation hardware market in the future.
- Kish gas Field in Iran spread on both offshore and onshore locations is expected to hold 59 trillion cubic feet of gas. The field is to be developed in three phases with multiple wells. The project is expected to create ample market growth in the forecast period.
- In January 2019, Halliburton signed two contracts with operators Eni to provide integrated drilling services at the Zubair oil field. Development wells are to be drilled in the forecast period, creating demand for casing and cementation hardware.
- Middle-East and Africa has one of the highest proven reserves and produced one-third of global oil production. With multiple exploration and development projects in both oil and gas fields, the region is expected to witness significant growth in the casing and cementation hardware market.
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Casing & Cementation Hardware Industry Overview
The casing and cementation hardware market is moderately fragmented. Some of the major companies operating in the market include National-Oilwell Varco, Inc., Halliburton Company, Weatherford International plc, Vallourec S.A, and Baker Hughes Company.
Casing & Cementation Hardware Market Leaders
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Halliburton Company
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Weatherford International plc
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Vallourec S.A
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National-Oilwell Varco, Inc
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Baker Hughes Company
- *Disclaimer: Major Players sorted in no particular order
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Casing & Cementation Hardware Industry Segmentation
The casing and cementation hardware market report includes:
| Type | Casing Hardware |
| Cementation Hardware | |
| Location of Deployment | Offshore |
| Onshore | |
| Geogrpahy | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
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Casing & Cementation Hardware Market Research FAQs
What is the current Casing and Cementation Hardware Market size?
The Casing and Cementation Hardware Market is projected to register a CAGR of greater than 1.65% during the forecast period (2025-2030)
Who are the key players in Casing and Cementation Hardware Market?
Halliburton Company, Weatherford International plc, Vallourec S.A, National-Oilwell Varco, Inc and Baker Hughes Company are the major companies operating in the Casing and Cementation Hardware Market.
Which is the fastest growing region in Casing and Cementation Hardware Market?
Middle-East and Africa is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Casing and Cementation Hardware Market?
In 2025, the North America accounts for the largest market share in Casing and Cementation Hardware Market.
What years does this Casing and Cementation Hardware Market cover?
The report covers the Casing and Cementation Hardware Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Casing and Cementation Hardware Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Casing and Cementation Hardware Industry Report
Statistics for the 2025 Casing and Cementation Hardware market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Casing and Cementation Hardware analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
