Global Oil and Gas Conductor Pipe Market 2022-2028
About this market
Increase in onshore and offshore oil and gas drilling projects due to high global crude oil prices has motivated oil and gas companies to invest in projects due to potential profits. The increase in drilling activities has consequently surged the requirement for drilling equipment to prepare the well. Apart from conventional drilling activities, directional drilling technique is also used for unconventional oil and gas production. The gradual recovery in the prices of crude oil from the third quarter of 2016 resulted in a global increase in the number of active rigs. This increase in active rigs has heightened the number of wells being drilled in both onshore and offshore well sites. This drives the demand for equipment required during well drilling, thereby driving the market. analysts have predicted that the oil and gas conductor pipe market will register a CAGR of almost 7% by 2023.
Market Overview
Growing consumption of oil and gas
Major oil and gas companies have resorted to exploration and production projects to support the need for oil and gas. The demand for fuel in developing economies and from developed economies, the largest consumers of fuel, is increasing.
Increase in adoption of renewable energy
Increase in renewable energy sources will impact the adoption of conventional fuels in the market. They have a negative impact on the growth of the conventional fuels market, which will affect the market during our forecast period.
For the detailed list of factors that will drive and challenge the growth of the oil and gas conductor pipe market during the 2019-2023, view our report.
Competitive Landscape
The global oil and gas conductor pipe market is fairly fragmented, and as the market is in a growth phase, the competition among companies is intense. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Increase in onshore and offshore oil and gas drilling projects due to high global crude oil prices has motivated oil and gas companies to invest in projects due to potential profits. The increase in drilling activities has consequently surged the requirement for drilling equipment to prepare the well. Apart from conventional drilling activities, directional drilling technique is also used for unconventional oil and gas production. The gradual recovery in the prices of crude oil from the third quarter of 2016 resulted in a global increase in the number of active rigs. This increase in active rigs has heightened the number of wells being drilled in both onshore and offshore well sites. This drives the demand for equipment required during well drilling, thereby driving the market. analysts have predicted that the oil and gas conductor pipe market will register a CAGR of almost 7% by 2023.
Market Overview
Growing consumption of oil and gas
Major oil and gas companies have resorted to exploration and production projects to support the need for oil and gas. The demand for fuel in developing economies and from developed economies, the largest consumers of fuel, is increasing.
Increase in adoption of renewable energy
Increase in renewable energy sources will impact the adoption of conventional fuels in the market. They have a negative impact on the growth of the conventional fuels market, which will affect the market during our forecast period.
For the detailed list of factors that will drive and challenge the growth of the oil and gas conductor pipe market during the 2019-2023, view our report.
Competitive Landscape
The global oil and gas conductor pipe market is fairly fragmented, and as the market is in a growth phase, the competition among companies is intense. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
Please Select a Format
