Market Size of North America Liner Hanger System Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Liner Hanger Market Analysis
The liner hanger system market in North America is expected to grow at CAGR of more than 6.2% in the forecast period of 2020-2025. Increasing upstream activities in the Permian basin in the United States is one of the major driving factors for the liner hanger system market. Additionally, offshore exploration in eastern Canada is likely to create significant market demand in the forecast period. 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, a declining number of offshore wells in the United States is expected to restrain the market growth.
- With 990 active onshore rigs in the United States and increasing production from the Permian basin, the onshore sector is expected to dominate the liner hanger system market.
- The United States has one of the largest technically recoverable shale gas reserves and the second-largest tight oil reserves in the world. Moreover, the technological development in hydraulic fracturing is expected to create ample opportunities for the liner hanger system providers.
- With oil production of 17 million barrels per day in 2019, the United States is leading the market of the liner hanger system market. It is expected to continue its dominance in the forecast period.
North America Liner Hanger Industry Segmentation
The North America liner hanger system market report includes:
| Type | |
| Conventional | |
| Expandable |
| Location of Deployment | |
| Offshore | |
| Onshore |
| Geogrpahy | |
| The United States | |
| Canada | |
| Rest of North America |
North America Liner Hanger System Market Size Summary
The North America liner hanger system market is poised for significant growth, driven by increased upstream activities in the Permian Basin in the United States and offshore exploration in eastern Canada. The onshore sector, particularly in the United States, is expected to dominate the market due to the country's substantial technically recoverable shale gas and tight oil reserves. Technological advancements in hydraulic fracturing are anticipated to offer substantial opportunities for liner hanger system providers. Despite challenges such as the global crude oil price decline and a decrease in offshore wells in the United States, the market is expected to benefit from the completion of drilled wells and the initiation of new projects in the later forecast period.
In Canada, the focus on unconventional resources like oil sands is expected to drive demand for liner hanger systems, as these require longer drilling laterals. The combination of hydraulic fracturing and horizontal drilling techniques is anticipated to enhance access to natural gas, further boosting demand. The market is moderately consolidated, with major players including National-Oilwell Varco, Inc., Halliburton Company, Weatherford International plc, Baker Hughes, and Schlumberger Limited. The opening of coastal waters for oil and gas exploration in the United States is also expected to have a long-term positive impact on the offshore sector, contributing to the overall growth of the liner hanger system market in North America.
North America Liner Hanger System Market Size - Table of Contents
-
1. MARKET OVERVIEW
-
1.1 Introduction
-
1.2 Market Size and Demand Forecast in USD billion, till 2025
-
1.3 Recent Trends and Developments
-
1.4 Government Policies and Regulations
-
1.5 Market Dynamics
-
1.5.1 Drivers
-
1.5.2 Restraints
-
-
1.6 Supply Chain Analysis
-
1.7 Porter's Five Forces Analysis
-
1.7.1 Bargaining Power of Suppliers
-
1.7.2 Bargaining Power of Consumers
-
1.7.3 Threat of New Entrants
-
1.7.4 Threat of Substitute Products and Services
-
1.7.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Type
-
2.1.1 Conventional
-
2.1.2 Expandable
-
-
2.2 Location of Deployment
-
2.2.1 Offshore
-
2.2.2 Onshore
-
-
2.3 Geogrpahy
-
2.3.1 The United States
-
2.3.2 Canada
-
2.3.3 Rest of North America
-
-
North America Liner Hanger System Market Size FAQs
What is the current North America Liner Hanger System Market size?
The North America Liner Hanger System Market is projected to register a CAGR of greater than 6.20% during the forecast period (2024-2029)
Who are the key players in North America Liner Hanger System Market?
Halliburton Company , Weatherford International plc , Schlumberger Limited , Baker Hughes Ltd and National-Oilwell Varco, Inc are the major companies operating in the North America Liner Hanger System Market.
