Bow Spring Casing Centralizers Market is expected to grow at a CAGR of 6.5%.
Rising onshore and offshore oil & gas exploration activities are increasing the demand for centralizers across the globe.
According to TechSci Research report, “Bow Spring Casing Centralizers Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast 2019-2029”.
A Bow Spring Casing Centralizers is a mechanical device placed at various
points around the casing to hold it in place and prevent the casing from
touching the borehole walls. Due to casing centering, a continuous annular gap
around the casing allows the cement to completely seal the casing against the
borehole wall.Piping centralization is one of the key elements to ensure the
quality of a cementing job by preventing mud channels and poor zone isolation.
Centralizers can also support the case and prevent the differential from
binding.
Oil is a commodity that tends to
experience more significant price fluctuations than other stable assets such as
stocks and bonds. Oil prices are influenced by various factors, most notably
production decisions made by OPEC, independent petro states such as Russia,
private oil exploration companies such as ExxonMobil, geopolitical events, and
awareness about environment-friendly energy solutions. Therefore, the
decreasing demand for crude oil and natural gas would directly affect
production, impacting the market negatively as casing centralizers are used to
cement oil well bores.Due to growing concerns about environmental pollution,
various governments across the globe have implemented multiple regulations and
policies to reduce vehicle emissions. Countries such as China, the U.S.,
Germany, France, Norway, and the United Kingdom have established certain
targets for the deployment of electric vehicles, with plans to phase out
Internal Combustion Engine (ICE) vehicles. Thus, increase in the usage of
electric vehicles is expected to hamper oil & gas demand, thereby affecting
the market growth during the forecast period.
Based on type, the market has been
segmented into bow spring centralizer, rigid centralizer, and others. The bow
spring centralizer is effective on vertical and slightly deviated wellbores to
center the casing in the wellbore, thus improving cementing efficiency. The
demand for bow spring centralizers is increasing as they are extensively used
in oil & gas exploration and production processes. Furthermore, bow spring
centralizers generate a retraining force using flexible bows that help in
providing separation between the wellbore and casing.Rigid centralizers are
made from cast aluminum or steel as their diameter is smaller than the drilled
hole, so the solid rigid centralizers are strong and work well in deviated
drill holes. Moreover, rigid centralizers are robust and work efficiently in
deviated boreholes, regardless of lateral force. Constructed of cast iron or
solid steel bars, this type of centralizer has a fixed blade height and is
sized to fit a specific case or hole size.
Browse over XX market data Figures
spread through 186 Pages and an in-depth TOC on the "Global Bow SpringCasing Centralizers Market.”
Recent
Developments: -
- August 2022 - Halliburton Labs announced
that it selected three new companies to participate in its collaborative
environment program to advance a cleaner, affordable, and reliable energy. As
Halliburton Labs participants, AW-Energy, RedShift Energy, and Renkube will
receive access to a broad range of industrial capabilities, technical
expertise, and mentorships to scale their respective businesses.
- July 2022 - The Halliburton Company
introduced the new Hedron platform of fixed Polycrystalline Diamond Compact
(PDC) drills. These drills combine the latest technology with an
industry-leading customization process to deliver high-performance,
application-specific designs for customers.
- August 2022 - NOV has won the
Non-Drilling Contractor - Best Safety Initiative Award for 2021 from IADC -
Southern Arabian Peninsula Chapter (IADC-SAPC) for the "Make It
Right" program. The award recognizes a comprehensive safe work system that
aims to implement superior controls and contemporary health and safety
management approaches in the southern Arabian Peninsula.
- July 2022 - NOV started developing the
Max Platform a few years ago to create a flexible system that can easily
interface data sources and convert data into useful information. GustoMSC started
developing the Operator Support System (OSS) two years ago. This system is an
application layer on the Max Platform that increases safety and performance for
offshore operations.
- December 2021 - Weatherford
International plc has been awarded a three-year digital oilfield contract by
one of the digital leaders in the upstream industry, Kuwait Oil Company
("KOC"), which aims to support its digital transformation strategy in
the North Kuwait heavy oil field and implement Integrated Enterprise Excellence
platform for KOC. The award also includes instrumentation, real-time
monitoring, production optimization and well backup to enable KOC to optimize
its production and processing plans.
Key market players in the Global Bow
Spring Casing Centralizers Market are: -
- Schlumberger
Limited
- Halliburton
Company
- Weatherford
International
- Baker Hughes
(now part of GE)
- National
Oilwell Varco
- Swell Packers
Plus Energy Services Inc.
- TAM
International
- NCS
Multistage
- Rubicon
Oilfield International
- Omega
Completion Technology
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“Increasing government investment in new
oil and gas reserves creates new growth avenues in the market. Moreover,
projects are being launched in several regions to meet the increasing demand
for crude oil, further increasing the demand for drilling equipment and
centralizers.In 2020, Egypt announced an investment of USD 1.4 billion for oil
and natural gas exploration in nine new locations in the Mediterranean Sea and
the Red Sea. The state Department of Petroleum and Natural Resources announced
the news and expected to drill 23 new wells in both seas.Additionally, oil and
gas exploration has been growing steadily due to economic development and
technological advancement, pushing the demand for drilling and well-cementing
equipment, including casing centralizers. Furthermore, international and local
government policies are impacting the evolution of the oil and gas market,
mainly focusing on the eradication of hydrocarbon poverty, majorly in
developing countries. ”said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Bow Spring Casing
Centralizers Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented
By Type (Steel,
Aluminium, Zinc, Polymer, Resin), By Application (Onshore, Offshore), By Region, and By Competition 2019-2029” provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Bow Spring Casing Centralizers Market.
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