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Liner Hanger System Market Size (2024 - 2029)

The liner hanger systems market is poised for growth, driven by increasing unconventional and deepwater exploration and production activities, which demand higher productivity and efficiency. The market's expansion is challenged by the risks of system failure and raw material availability issues. The offshore segment is anticipated to grow more rapidly than onshore, spurred by the resurgence of oil and gas prices and the complexity of offshore reserve formations, which necessitate innovative solutions. The development of deepwater and ultra-deepwater reserves presents future opportunities, with the Asia-Pacific region, particularly China, expected to experience the fastest growth due to its substantial local manufacturing base.

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Market Size of Liner Hanger System Industry

Liner Hanger Market Size
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR > 5.46 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Liner Hanger Market key players

*Disclaimer: Major Players sorted in no particular order

Liner Hanger Market Analysis

The market for liner hanger system is expected to witness a CAGR of more than 5.46% during the forecast period (2020-2025).

  • Major factors driving the market studied are the rising unconventional and deepwater E&P activities, increasing need for higher productivity and efficiency, and the advantage of covering vast areas by a single rig employing long lateral drilling methods. The risk of failure associated with liner hanger systems and the challenges associated with the availability of raw materials are likely to hinder the growth of the market studied.
  • With the revival of oil and gas prices and kick start of various offshore projects, the offshore segment is likely to register a higher growth rate, as compared to onshore. Moreover, a greater degree of complexity in offshore oil and gas reserve formations is expected to push the companies to innovate and develop offshore specific liner hanger system.
  • The development of deepwater and ultra-deepwater reserves is likely to act as an opportunity in the future.
  • Asia-Pacific is expected to witness the fastest growth during the forecast period. China is by far the largest market in the Asia-Pacific region and is dominated by many local liner hanger system manufacturers unlike many other countries across the world.

Liner Hanger Industry Segmentation

The liner hanger system market report includes:

Type
Conventional Liner Hangers
Mechanical Liner Hangers
Hydraulic Liner Hangers
Expandable Liner Hangers
Location of Deployment
Onshore
Offshore
Geography
North America
United States
Canada
Rest of North America
Europe
United Kingdom
Norway
Russia
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Asia-Pacific
China
India
Indonesia
Australia
Rest of Asia-Pacific
Middle-East and Africa
Saudi Arabia
Nigeria
Iran
United Arab Emirates
Rest of Middle-East and Africa
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Liner Hanger System Market Size Summary

The liner hanger systems market is poised for significant growth, driven by the increasing demand for unconventional and deepwater exploration and production activities. The need for enhanced productivity and efficiency, along with the ability to cover extensive areas using long lateral drilling methods, are key factors propelling market expansion. However, challenges such as the risk of failure and raw material availability pose potential hindrances. The offshore segment is anticipated to experience higher growth compared to onshore activities, fueled by the revival of oil and gas prices and the initiation of various offshore projects. The complexity of offshore reserve formations is encouraging innovation and the development of specialized liner hanger systems for these environments. The development of deepwater and ultra-deepwater reserves presents future opportunities, with Asia-Pacific, particularly China, expected to witness the fastest growth due to increased domestic exploration and production activities.

The offshore oil and gas industry, accounting for a significant portion of global crude oil production, is a major driver for the liner hanger systems market. Regions such as the Middle East, North Sea, Brazil, and the Gulf of Mexico are key contributors to offshore production. The demand for mechanical liner hangers in shallow waters is high due to their cost-effectiveness and technical feasibility. As more than half of current crude oil production comes from mature oilfields, there is a shift towards deepwater and ultra-deepwater resources, supported by low breakeven prices in the offshore sector. The expandable liner hanger system is preferred for deepwater well completion, with advancements in technology facilitating deeper explorations. In Asia-Pacific, particularly China and India, government initiatives and large field developments are expected to drive market growth, with other developing markets like Indonesia and Australia also contributing. The market is moderately consolidated, with key players including Halliburton, Schlumberger, Weatherford, Drill Quip, and Baker Hughes.

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Liner Hanger System Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD million, till 2025

    3. 1.3 Global Onshore and Offshore Active Rig Count of Major Countries

    4. 1.4 Estimated Number of Liner Hanger System Used in 2018, by Region and US Basin

    5. 1.5 Onshore CAPEX Forecast in USD billion, till 2025

    6. 1.6 Offshore CAPEX Forecast in USD billion, by Region, till 2025

    7. 1.7 Historical and Forecast of Production from Deepwater, Oil Sands, and Tight Oil, till 2025

    8. 1.8 Brent Crude Oil and Henry Hub Spot Prices Forecast, till 2025

    9. 1.9 Key Upstream Projects for Investment Purposes

    10. 1.10 Recent Trends and Developments

    11. 1.11 Market Dynamics

      1. 1.11.1 Drivers

      2. 1.11.2 Restraints

    12. 1.12 Industry Supply Chain Analysis

    13. 1.13 Porter's Five Forces Analysis

      1. 1.13.1 Bargaining Power of Suppliers

      2. 1.13.2 Bargaining Power of Consumers

      3. 1.13.3 Threat of New Entrants

      4. 1.13.4 Threat of Substitute Products and Services

      5. 1.13.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Conventional Liner Hangers

        1. 2.1.1.1 Mechanical Liner Hangers

        2. 2.1.1.2 Hydraulic Liner Hangers

      2. 2.1.2 Expandable Liner Hangers

    2. 2.2 Location of Deployment

      1. 2.2.1 Onshore

      2. 2.2.2 Offshore

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 Norway

        3. 2.3.2.3 Russia

        4. 2.3.2.4 Rest of Europe

      3. 2.3.3 South America

        1. 2.3.3.1 Brazil

        2. 2.3.3.2 Argentina

        3. 2.3.3.3 Colombia

        4. 2.3.3.4 Rest of South America

      4. 2.3.4 Asia-Pacific

        1. 2.3.4.1 China

        2. 2.3.4.2 India

        3. 2.3.4.3 Indonesia

        4. 2.3.4.4 Australia

        5. 2.3.4.5 Rest of Asia-Pacific

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 Nigeria

        3. 2.3.5.3 Iran

        4. 2.3.5.4 United Arab Emirates

        5. 2.3.5.5 Rest of Middle-East and Africa

Liner Hanger System Market Size FAQs

The Liner Hanger System Market is projected to register a CAGR of greater than 5.46% during the forecast period (2024-2029)

Halliburton Company, Schlumberger Limited, Weatherford International PLC, Drill Quip Inc. and Baker Hughes Company are the major companies operating in the Liner Hanger System Market.

Liner Hangers Market Report Snapshots

Liner Hanger Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)