Middle-East And Africa Liner Hanger System Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.30 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Middle-East And Africa Liner Hanger System Market Analysis
Over the next five years, the liner hanger system market in the Middle East and Africa is expected to register a CAGR of more than 4.3%.
In 2020, COVID-19 had a detrimental effect on the market.Presently, the market has reached pre-pandemic levels.
- Over the long term, with the world's largest oil reserves, the region is expected to witness significant growth in upstream oil and gas activities in the forecast period. Moreover, the increasing gas production in the Middle East is driving the demand for the liner hanger system.
- On the other hand, the global crude oil price decline in 2020 and 2021 has led to a halt or delay in various oil and gas projects. Also, total crude oil production in the Middle East declined in 2021. If this declining trend continues, it is expected to have a negative impact on further market growth.
- With the largest proven reserves of natural gas and crude oil, the Middle East and Africa have significant potential for exploration and completion activities, which will create substantial opportunities for the liner hanger system market in the near future.
Middle-East And Africa Liner Hanger System Market Trends
Onshore Segment is Expected to Dominate the Market
- A liner hanger system consists of a liner hanger assembly, a releasing tool, a cementing head, a packer, etc. Liner hanger systems can be mechanical or hydraulic, premium or standard, rotating or non-rotating, conventional or expandable, and pocket slip.
- The Liner Hanger System witnessed growth in 2021 as the exploration and drilling activities in the Persian Gulf ramped up. In December 2021, Iranian oil and gas firm Pars Oil and Gas Company (POGC) announced the start of drilling operations at the South Pars gas field in the Persian Gulf as part of its field development strategy.
- In August 2022, the Abu Dhabi National Oil Company gave out five framework agreements worth a total of USD 1.83 billion to increase drilling in the oilfields of the emirate.The growing drilling activities in the onshore region will, in turn, culminate in the growth of the linger hanger systems across the region.
- Moreover, due to ongoing sanctions on Iran by the United States, major companies like Total are withdrawing their investment, which can negatively impact the LHS market. Furthermore, rising crude oil production in the Middle East to 28.15 million barrels per day in 2021 will result in significant growth of the liner hanger system during the forecast period.
- Since several onshore fields produce the most oil and gas and have the most oil and gas reserves, the onshore segment is expected to drive the market a lot.
Saudi Arabia to Dominate the Market
- According to Baker Hughes, Saudi Arabia is estimated to have the world's fifth-largest estimated shale gas reserve. Thus, it has great potential to replicate North America's unconventional reserves' development growth. The country has vast shale reserves, and the increasing exploitation of its unconventional reserves is expected to drive the demand for liner hanger systems in the long run.
- Saudi Aramco is always doing exploration and development to make up for fields that are getting smaller in other places. This opens up new markets for liner-hanger systems. In December 2021, Saudi Aramco awarded USD 100 billion in contracts on the Jafurah project to position itself as the third-largest natural gas producer by 2030. Further, the project's development is expected to help the country incline more towards natural gas as a source of electricity generation, thus supporting the pursuit of its 2060 net-zero target.
- Saudi Arabia's oil production amounted to 10.95 million barrels per day in 2021. By 2022, the country was expected to have more than 100 active onshore rigs. The deployment of these rigs is expected to increase drilling activities, which is further likely to increase the demand for liner hanger systems.
- Aramco also wants to produce 0.65 bcm of natural gas per day by 2028. It plans to do this by going after unconventional gas reserves in North Arabia, South Ghawar, and the Jafurah Basin, which is east of Ghawar.
- Because the onshore fields produced more crude oil and natural gas, more hydraulic and mechanical liner hanger systems were still used in the country. But as more people look for oil and gas reserves offshore, the demand for expandable LHS is likely to rise.
Middle-East And Africa Liner Hanger System Industry Overview
The market for liner hanger systems in the Middle East and Africa is moderately consolidated. Some of the major companies (in no particular order) include National-Oilwell Varco, Inc., Halliburton Company, Weatherford International Plc, Baker Hughes, and Schlumberger Limited Ltd., among others.
Middle-East And Africa Liner Hanger System Market Leaders
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Weatherford International plc
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Schlumberger Limited
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Baker Hughes Ltd
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National-Oilwell Varco, Inc
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Halliburton Company
*Disclaimer: Major Players sorted in no particular order
Middle-East And Africa Liner Hanger System Market News
- September 2022: Weatherford International plc received a five-year framework agreement from Abu Dhabi National Oil Company to provide directional drilling and logging-while-drilling services. The drilling process includes the deployment of conventional line hangers, drill bits, drill pipes, centrifuges, etc. The contract is valued at over USD 400 million, and ADNOC has the option to extend the contract for an additional two years.
- March 2022: Saudi Aramco awarded a major contract to Schlumberger for integrated drilling and well construction services in a gas drilling project. The integrated project includes drilling rigs, technologies, and services, including drill bits, liner hanger systems, logging while drilling (LWD) and measurement while drilling (MWD), cementing, drilling fluids, and completing wells.
MEA Liner Hanger System Market Report - Table of Contents
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 2028
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 Geogrpahy
5.3.1 The United Arab Emirates
5.3.2 Saudi Arabia
5.3.3 Nigeria
5.3.4 Rest of Middle-East and Africa
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 Ltd
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.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Middle-East And Africa Liner Hanger System Industry Segmentation
A liner hanger is a tool or system that is used to hang a liner in an oil and gas production well.
The market for liner hanger systems in the Middle East and Africa is split up by type, location of deployment, and geography. By type, the market is segmented into conventional and expandable. By location of deployment, the market is segmented into onshore and offshore. The report also covers the market size and forecasts for the liner hanger system market across the major countries in the region. For each segment, the market size and forecasts have been done based on revenue (USD).
| Type | |
| Conventional | |
| Expandable |
| Location of Deployment | |
| Offshore | |
| Onshore |
| Geogrpahy | |
| The United Arab Emirates | |
| Saudi Arabia | |
| Nigeria | |
| Rest of Middle-East and Africa |
MEA Liner Hanger System Market Research FAQs
What is the current Middle-East and Africa Liner Hanger System Market size?
The Middle-East and Africa Liner Hanger System Market is projected to register a CAGR of greater than 4.30% during the forecast period (2024-2029)
Who are the key players in Middle-East and Africa Liner Hanger System Market?
Weatherford International plc , Schlumberger Limited , Baker Hughes Ltd , National-Oilwell Varco, Inc and Halliburton Company are the major companies operating in the Middle-East and Africa Liner Hanger System Market.
What years does this Middle-East and Africa Liner Hanger System Market cover?
The report covers the Middle-East and Africa Liner Hanger System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Middle-East and Africa Liner Hanger System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Middle-East and Africa Liner Hanger System Industry Report
Statistics for the 2024 Middle-East and Africa Liner Hanger System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Middle-East and Africa Liner Hanger System analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
