Primary Cementing Equipment Market By Equipment Type (Floating Equipment, Casing Accessories, Cementing Plugs, And Other Equipment Types), By Application (Onshore, Offshore), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Market.us announces the publication of its most recently generated research report titled, “Global primary cementing equipment market by Equipment Type (Floating Equipment, Casing Accessories, Cementing Plugs, External Casing Packers, Diversion Tools, Plug Containers, Stage Cementing Tools, and Other Equipment Types), By Application (Onshore, Offshore), and by Region – Global Forecast to 2029.”, which offers a holistic view of the global primary cementing equipment market through systematic segmentation that covers every aspect of the target market.

The Global Primary Cementing Equipment Market is projected to be US$ 2,819.9 Mn in 2022 to reach US$ 5,119.5 Mn by 2032 at a CAGR of 6.2%.

A casing is a pipe with a large diameter, inserted and assembled into a freshly drilled section of a borehole. The casing is placed inside the drilled borehole to support and protect the well stream, just like the bones of a spine protect the spinal cord. Cement held the lower portion of this casing in place. Not just cement is used to hold the casing in the position, but it also prevents fluid migration in between the subsurface formations. Typically cementing operations can be divided into two broad categories, those are: primary cementing and remedial cementing. The major purpose of primary cementing is to provide zonal isolation. Cementing operation is a process of mixing cement slurry, water, and cement additives, and pumping it down into the casing. Inside the open hole below the casing string and through all the critical points in the annulus around the casing. Primary cementing equipment includes items used during drilling in oil, gas, or water wells.

The global primary cementing equipment market is anticipated to register stable growth over the forecast period, particularly in economies such as North America, owing to favorable growth factors present in these regions. Growing demand for energy worldwide urges the E&P companies to increase their investments in offshore and onshore oil & gas reserves. Increasing E&P companies for recovering unconventional (hydrocarbons) energy sources will augment the primary cementing operations, which will certainly drive the demand for primary cementing equipment hence driving target market growth. Amongst the well cementing, primary cementing is dominating the market. As primary cementing provides zonal isolation that prevents the migration of fluids in the annulus, it supports the casing and protects the casing strings from corrosive fluids. Growing applications of primary cementing in several end-use industries are further driving the growth of the global primary cementing equipment market.

Global Primary Cementing Equipment Market Revenue (US$ Mn), 2019–2029 

Growing demand for energy worldwide urges the E&P companies to increase their investments in offshore and onshore oil & gas reserves. Expanding E&P companies for recovering unconventional (hydrocarbon) energy sources will augment the primary cementing operations which will certainly drive the demand for primary cementing equipment hence driving target market growth. Hydrocarbon production has gained traction, as it increased the reputation of being an additional source of energy. The growing number of cementing operations for hydrocarbon resources is certainly augmenting demand for primary cementing equipment which is expected to drive the market over the forecasted timeframe

Global Primary Cementing Equipment Market Attractiveness Analysis by Application, 2013–2019

Furthermore, E&P companies are increasing expenditures for improving sub-sea construction activities is augmenting the market for primary cementing equipment. Also, the continuously increasing area for offshore oil & gas blocks is augmenting offshore drilling activities, which are increasing demand for primary cementing; hence, driving the growth of the target market. Ever-increasing proper operations in onshore fields, particularly in countries such as the US, Saudi Arabia, Russia, and China, coupled with growing demand for Oil and Gas is driving the market. Amongst the segment based on type, floating equipment holds a significant market share, followed by casing accessories. Based on application, the market is segmented in Offshore and Onshore applications out of which offshore applications are anticipated to hold a significant market share. The growth of the offshore segment is owing to the cost decrease and digitalization of the oil & gas offshore projects.

The research report on the Global Primary Cementing Equipment Market includes profiles of some of the major companies such as Schlumberger Limited, Halliburton Company, Forum Energy Technologies, BJ Services, ACC Corporate, Bottle Oil Tools India Private Limited, Rubicon Oilfield International Holdings, L.P, Seenopex, VULCAN Completion Products, and Tangent Oil & Gas Equipment and Supply.

Key Market Segments

Type

• Floating Equipment
• Casing Accessories
• Cementing Plugs And Other Equipment Types

Application

• Offshore
• Onshore

Key Market Players included in the report:

• Schlumberger Limited
• Halliburton Company
• Forum Energy Technologies
• BJ Services
• ACC Corporate
• Botil Oil Tools India Private Limited
• Rubicon Oilfield International Holdings
• L.P
• Seenopex
• VULCAN Completion Products
• Tangent Oil & Gas Equipment and Supply

For the Primary Cementing Equipment Market research study, the following years have been considered to estimate the market size: