Report Description

The Global Bridge Plugs Market is anticipated to grow robustly in the forecast period 2024-2028. Rising oil and gas demand worldwide are the major factor propelling the growth of the global bridge plugs in year 2024-2028. Bridge Plugs are downhole tools  slips, a mandrel, and a sealing part made of elastomer. It is routed through a hole and fitted in a casing to separate a lower and higher zone. It can be installed permanently to shut off a well or temporarily to undertake well maintenance. Bridge plugs are essentially utilized to abandon the well following the manufacturing procedure. New developments in the oil and gas sector are improving the sector's effectiveness, safety, and intelligence. To do this, businesses investigate effective and competitive ways to digitize, automate, and address challenging sub-surface engineering issues.

Rapidly rising in demand of oil and Gas Demand and Environmental Concern Fueling the Market Growth.

The market for bridge plugs is propelled by the rising demand for gas and oil. For instance, according to a monthly report from the Organization of the Petroleum Exporting Countries (OPEC), global oil consumption would increase by 2.25 million barrels per day (bpd) or around 2.3% in 2023. Due to which the market is expected to grow in the forecast period.

An open oil & gas well can cause fires and explosions the ignition of combustible vapors or gases poses a fire and explosion danger to anyone working in the oil and gas industries. Wells, trucks, production equipment, or surface equipment such tanks and shale shakers can all produce flammable gases such well gases, vapors, and hydrogen sulfide. Hence environmental concern is taking place due to which bridge plug market is expected to grow in future.

As the industry continues to recover from the epidemic and the obstacles presented by the Omicron variety, global investments in oil and gas would increase by USD26 billion this year. Rystad Energy study predicts that overall oil and gas spending would increase by 4% to USD628 billion this year from USD602 billion in 2021.

Rising upstream oil and gas industry investment driving the global bridge plug market, since a rise of 14% in upstream LNG and gas investments is a key factor. With an increase in investment from USD 131 billion in 2021 to around USD 149 billion in 2022, which has the largest growth this year.

Latest Technological Advancement of One Trip Bridge Plugs Expanding the Market Growth

Bridge plug technological innovations are the most recent trend in the bridge plug industry; drillers employ several types of bridge plugs in the subsurface. Nowadays, the new tool, when used in conjunction with the cement plug in the top portion, improves the accuracy of the plug setting operation and solves the obstacles associated with setting cement plug operations in granite open hole intervals with high leakage.

One trip is sufficient to correctly fix the cement plug and drillable open hole bridge plug, it can be economical in the field. When the cement plug's length was drastically shortened, it showed no movement under a 220 kN load. Since the drillable open hole bridge plug and cement plug may completely fulfil the requirements for MFE tests with liner support in the bottom hole, drillers are turning to open hole bridge plugs since drillers are moving towards one trip bridge plug market.

Latest Environmental, Health, and Safety (EHS) Guidelines related to offshore and onshore oil and gas industry future fueling the market grow with a high CAGR in the forecast period. For instance, The Production Sharing Contract (PSC(Article)'s 14) "Protection of Environment" clause states that the Contractor is responsible for ensuring environmental protection and resource conservation using cutting-edge technologies, modern oilfield practices, and operational procedures that minimize environmental impact.

Fire or explosion caused by the presence of combustible liquids and gases is one of the main reasons restraining the worldwide market for bridge plugs. A further danger of burns, asphyxiation, cancer, or system corrosion may be present when toxic substances or gases are encountered during these procedures.


Download Free Sample Report

Market Segmentation

The Global Bridge Plugs Market is divided into type, condition, material, and application. Based on Type, the market is segmented into Retrievable Bridge Plugs (RBP) and Non- Retrievable Bridge Plugs. Based on Condition, the market is divided into High Pressure and Others, Based on Material, the market is split into Cast Iron and Composite Plugs. Based on Application, the market is segmented into offshore and onshore.

Market player

Major market players in the Global Bridge Plugs Market are Omega Well Intervention, Halliburton, Baker Hughes, Schlumberger, Rubicon Oilfield International, D&L Oil Tools, Interwell, Coretrax, Avalon Global Research, Peak Completion Technologies.

Recent Developments

  •       The area of the oil and gas industry expected to show a rise in investment volume is the market for gas and LNG. Investments in gas and LNG are anticipated to increase to 171 billion US dollars in 2024 from 131 billion US dollars in 2021. The projection is made considering an energy supply crisis that is expected to occur in late 2021, mostly because of a gas shortage. The recent decision by the European Union to include natural gas as clean energy in its Fit for 55 green transition packages further demonstrates how countries continue to use this category of fossil fuels while also accelerating their use-reduction efforts for coal and oil.
  •       Current estimates place India's conventional hydrocarbon resources at over 42 BMT of oil and oil equivalent gas (O+OEG), distributed over 26 sedimentary basins spanning an area of 3.36 million square kilometers.

Download Sample Report

Attribute

Details

Base Year

2022

Historic Data

2018– 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, value, and CAGR for 2018 -2022 and 2023 - 2028

Report coverage

Revenue forecast, Company Share, growth factors, and trends

Segments covered

Type

Condition

Material

Application

Regional scope

North America; Asia-Pacific; Europe; South America; Middle East

Country scope

North America, U.S, Canada, Mexico, Europe, United Kingdom, Germany, France, Italy, Spain, Russia, Asia Pacific China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific, Latin America Brazil, Rest of Latin America, Middle East and Africa, South Africa, South Arabia, UAE, Rest of Middle East and Africa

Key companies profiled

Omega Well Intervention, Halliburton, Baker Hughes, Schlumberger, Rubicon Oilfield International, D&L Oil Tools, Interwell, Coretrax, Avalon Global Research, Peak Completion Technologies

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, Global Bridge Plugs Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

         ·         Bridge Plugs Market, By Type:

o   Retrievable Bridge Plugs (RBP)

o   Non- Retrievable Bridge Plugs

         ·         Bridge Plugs Market, By Condition:

o   High Pressure

o   Others

         ·         Bridge Plugs Market, By Material:

o   Cast Iron

o   Composite Plugs

         ·         Bridge Plugs Market, By Application:

o   Offshore

o   Onshore

         ·         Bridge Plugs Market, By Region:

o   North America

§  United States

§  Mexico

§  Canada

o   Asia-Pacific

§  India

§  Japan

§  South Korea

§  Australia

§  Singapore

§  Malayasia

§  China

o   Europe

§  Germany

§  United Kingdom

§  France

§  Italy

§  Spain

§  Poland

§  Denmark

o   South America

§  Brazil

§  Argentina

§  Colombia

§  Peru

§  Chile

o   Middle East

§  South Arabia

§  South Africa

§  UAE

§  Iraq

§  Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Bridge Plugs Market.

Available Customizations:

Global Bridge Plugs Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

The Global Bridge Plugs Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 Global Bridge Plugs Market

4.    Executive Summary

5.    Voice of Customers

5.1.  Factors considered while selecting a supplier

5.2.  Challenges/issues faced post purchase

5.3.  Major Challenges Faced

5.4.  Technological Awareness

6.    Global Bridge Plugs Market

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Type (Retrievable Bridge Plugs (RBP) and Non- Retrievable Bridge Plugs)

6.2.2.    By Condition (High Pressure and Others)

6.2.3.    By Material (Cast Iron and Composite Plugs)

6.2.4.    By Application (Offshore & Onshore)

6.2.5.    By Region

6.2.6.    By Company

6.3.  Market Map

7.    North America Bridge Plugs Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Type

7.2.2.    By Condition

7.2.3.    By Material

7.2.4.    By Application

7.2.5.    By Country

7.3.  North America: Country Analysis

7.3.1.    United States Bridge Plugs Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Type

7.3.1.2.2.           By Condition

7.3.1.2.3.           By Material

7.3.1.2.4.           By Application

7.3.1.3.        Canada Bridge Plugs Market Outlook

7.3.1.4.        Market Size & Forecast

7.3.1.4.1.           By Value 

7.3.1.5.        Market Share & Forecast

7.3.1.5.1.           By Type

7.3.1.5.2.           By Condition

7.3.1.5.3.           By Material

7.3.1.5.4.           By Application

7.3.1.6.        Mexico Bridge Plugs Market Outlook

7.3.1.7.        Market Size & Forecast

7.3.1.7.1.           By Value 

7.3.1.8.        Market Share & Forecast

7.3.1.8.1.           By Type

7.3.1.8.2.           By Condition

7.3.1.8.3.           By Material

7.3.1.8.4.           By Application

8.    Asia-Pacific Bridge Plugs Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Type

8.2.2.    By Condition

8.2.3.    By Material

8.2.4.    By Application

8.2.5.    By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.    China Bridge Plugs Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Type

8.3.1.2.2.           By Condition

8.3.1.2.3.           By Material

8.3.1.2.4.           By Application

8.3.2.    India Bridge Plugs Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Type

8.3.2.2.2.           By Condition

8.3.2.2.3.           By Material

8.3.2.2.4.           By Application

8.3.3.    Japan Bridge Plugs Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Type

8.3.3.2.2.           By Condition

8.3.3.2.3.           By Material

8.3.3.2.4.           By Application

8.3.4.    South Korea Bridge Plugs Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Type

8.3.4.2.2.           By Condition

8.3.4.2.3.           By Material

8.3.4.2.4.           By Application

8.3.5.    Australia Bridge Plugs Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Type

8.3.5.2.2.           By Condition

8.3.5.2.3.           By Material

8.3.5.2.4.           By Application

8.3.6.    Singapore Bridge Plugs Market Outlook

8.3.6.1.        Market Size & Forecast

8.3.6.1.1.           By Value 

8.3.6.2.        Market Share & Forecast

8.3.6.2.1.           By Type

8.3.6.2.2.           By Condition

8.3.6.2.3.           By Material

8.3.6.2.4.           By Application

8.3.7.    Malaysia Bridge Plugs Market Outlook

8.3.7.1.        Market Size & Forecast

8.3.7.1.1.           By Value 

8.3.7.2.        Market Share & Forecast

8.3.7.2.1.           By Type

8.3.7.2.2.           By Condition

8.3.7.2.3.           By Material

8.3.7.2.4.           By Application

9.    Europe Bridge Plugs Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Type

9.2.2.    By Condition

9.2.3.    By Material

9.2.4.    By Application

9.2.5.    By Country

9.3.  Europe: Country Analysis

9.3.1.    Germany Bridge Plugs Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.2.        By Value 

9.3.1.3.        Market Share & Forecast

9.3.1.3.1.           By Type

9.3.1.3.2.           By Condition

9.3.1.3.3.           By Material

9.3.1.3.4.           By Application

9.3.2.    United Kingdom Bridge Plugs Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Type

9.3.2.2.2.           By Condition

9.3.2.2.3.           By Material

9.3.2.2.4.           By Application

9.3.3.    France Bridge Plugs Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Type

9.3.3.2.2.           By Condition

9.3.3.2.3.           By Material

9.3.3.2.4.           By Application

9.3.4.    Russia Bridge Plugs Market Outlook

9.3.4.1.        Market Size & Forecast

9.3.4.1.1.           By Value 

9.3.4.2.        Market Share & Forecast

9.3.4.2.1.           By Type

9.3.4.2.2.           By Condition

9.3.4.2.3.           By Material

9.3.4.2.4.           By Application

9.3.5.    Spain Bridge Plugs Market Outlook

9.3.5.1.        Market Size & Forecast

9.3.5.1.1.           By Value 

9.3.5.2.        Market Share & Forecast

9.3.5.2.1.           By Type

9.3.5.2.2.           By Condition

9.3.5.2.3.           By Material

9.3.5.2.4.           By Application

9.3.6.    Poland Bridge Plugs Market Outlook

9.3.6.1.        Market Size & Forecast

9.3.6.1.1.           By Value 

9.3.6.2.        Market Share & Forecast

9.3.6.2.1.           By Type

9.3.6.2.2.           By Condition

9.3.6.2.3.           By Material

9.3.6.2.4.           By Application

9.3.7.    Italy Bridge Plugs Market Outlook

9.3.7.1.        Market Size & Forecast

9.3.7.1.1.           By Value 

9.3.7.2.        Market Share & Forecast

9.3.7.2.1.           By Type

9.3.7.2.2.           By Condition

9.3.7.2.3.           By Material

9.3.7.2.4.           By Application

9.3.8.    Denmark Bridge Plugs Market Outlook

9.3.8.1.        Market Size & Forecast

9.3.8.1.1.           By Value 

9.3.8.2.        Market Share & Forecast

9.3.8.2.1.           By Type

9.3.8.2.2.           By Condition

9.3.8.2.3.           By Material

9.3.8.2.4.           By Application

10.  South America Bridge Plugs Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Type

10.2.2. By Condition

10.2.3. By Material

10.2.4. By Application

10.2.5. By Country

10.3.             South America: Country Analysis

10.3.1. Brazil Bridge Plugs Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Type

10.3.1.2.2.         By Condition

10.3.1.2.3.         By Material

10.3.1.2.4.         By Application

10.3.2. Argentina Bridge Plugs Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Type

10.3.2.2.2.         By Condition

10.3.2.2.3.         By Material

10.3.2.2.4.         By Application

10.3.3. Colombia Bridge Plugs Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Type

10.3.3.2.2.         By Condition

10.3.3.2.3.         By Material

10.3.3.2.4.         By Application

10.3.4. Peru Bridge Plugs Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value 

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Type

10.3.4.2.2.         By Condition

10.3.4.2.3.         By Material

10.3.4.2.4.         By Application

10.3.5. Chile Bridge Plugs Market Outlook

10.3.5.1.     Market Size & Forecast

10.3.5.1.1.         By Value 

10.3.5.2.     Market Share & Forecast

10.3.5.2.1.         By Type

10.3.5.2.2.         By Condition

10.3.5.2.3.         By Material

10.3.5.2.4.         By Application

11.  Middle East & Africa Bridge Plugs Market Outlook

11.1.             Market Size & Forecast

11.1.1. By Value

11.2.             Market Share & Forecast

11.2.1. By Type

11.2.2. By Condition

11.2.3. By Material

11.2.4. By Application

11.2.5. By Country

11.3.             Middle East & Africa: Country Analysis

11.3.1. Saudi Arabia Bridge Plugs Market Outlook

11.3.1.1.     Market Size & Forecast

11.3.1.1.1.         By Value 

11.3.1.2.     Market Share & Forecast

11.3.1.2.1.         By Type

11.3.1.2.2.         By Condition

11.3.1.2.3.         By Material

11.3.1.2.4.         By Application

11.3.2. South Africa Bridge Plugs Market Outlook

11.3.2.1.     Market Size & Forecast

11.3.2.1.1.         By Value 

11.3.2.2.     Market Share & Forecast

11.3.2.2.1.         By Type

11.3.2.2.2.         By Condition

11.3.2.2.3.         By Material

11.3.2.2.4.         By Application

11.3.3. UAE Bridge Plugs Market Outlook

11.3.3.1.     Market Size & Forecast

11.3.3.1.1.         By Value 

11.3.3.2.     Market Share & Forecast

11.3.3.2.1.         By Type

11.3.3.2.2.         By Condition

11.3.3.2.3.         By Material

11.3.3.2.4.         By Application

11.3.4. Israel Bridge Plugs Market Outlook

11.3.4.1.     Market Size & Forecast

11.3.4.1.1.         By Value 

11.3.4.2.     Market Share & Forecast

11.3.4.2.1.         By Type

11.3.4.2.2.         By Condition

11.3.4.2.3.         By Material

11.3.4.2.4.         By Application

11.3.5. Turkey Bridge Plugs Market Outlook

11.3.5.1.     Market Size & Forecast

11.3.5.1.1.         By Value 

11.3.5.2.     Market Share & Forecast

11.3.5.2.1.         By Type

11.3.5.2.2.         By Condition

11.3.5.2.3.         By Material

11.3.5.2.4.         By Application

12.  Market Dynamics

12.1.             Drivers

12.1.1. The market for bridge plugs is propelled by the rising demand for gas and oil.

12.1.2. Rising investment in the upstream oil and gas sector.

12.1.3. Stringent safety regulations for offshore drilling operations.

12.2.             Challenges

12.2.1. High oil and gas demand & hazard of open well

13.  Market Trends & Developments

13.1.             Technological advancements in bridge plug technology.

13.2.             The market for bridge plugs is being pushed by the rise in popularity of renewable energy sources like solar and wind power.

13.3.             Rising demand for electric vehicles is what is driving the bridge plugs industry.

14.  Company Profiles

14.1.            Omega Well Intervention

14.1.1. Business Overview

14.1.2. Key Revenue and Financials

14.1.3. Recent Developments

14.1.4. Key Personnel

14.1.5. Key Product/Services

14.1.6. SWOT Analysis

14.2.             Halliburton

14.2.1. Business Overview

14.2.2. Key Revenue and Financials

14.2.3. Recent Developments

14.2.4. Key Personnel

14.2.5. Key Product/Services

14.2.6. SWOT Analysis

14.3.             Baker Hughes

14.3.1. Business Overview

14.3.2. Key Revenue and Financials

14.3.3. Recent Developments

14.3.4. Key Personnel

14.3.5. Key Product/Services

14.3.6. SWOT Analysis

14.4.             Schlumberger

14.4.1. Business Overview

14.4.2. Key Revenue and Financials

14.4.3. Recent Developments

14.4.4. Key Personnel

14.4.5. Key Product/Services

14.4.6. SWOT Analysis

14.5.             Rubicon Oilfield International

14.5.1. Business Overview

14.5.2. Key Revenue and Financials

14.5.3. Recent Developments

14.5.4. Key Personnel

14.5.5. Key Product/Services

14.5.6. SWOT Analysis

14.6.             D&L Oil Tools

14.6.1. Business Overview

14.6.2. Key Revenue and Financials

14.6.3. Recent Developments

14.6.4. Key Personnel

14.6.5. Key Product/Services

14.6.6. SWOT Analysis

14.7.             Interwell

14.7.1. Business Overview

14.7.2. Key Revenue and Financials

14.7.3. Recent Developments

14.7.4. Key Personnel

14.7.5. Key Product/Services

14.7.6. SWOT Analysis

14.8.             Coretrax

14.8.1. Business Overview

14.8.2. Key Revenue and Financials

14.8.3. Recent Developments

14.8.4. Key Personnel

14.8.5. Key Product/Services

14.8.6. SWOT Analysis

14.9.             Avalon Global Research,

14.9.1. Business Overview

14.9.2. Key Revenue and Financials

14.9.3. Recent Developments

14.9.4. Key Personnel

14.9.5. Key Product/Services

14.9.6. SWOT Analysis

14.10.           Peak Completion Technologies

14.10.1.               Business Overview

14.10.2.               Key Revenue and Financials

14.10.3.               Recent Developments

14.10.4.               Key Personnel

14.10.5.               Key Product/Services

14.10.6.               SWOT Analysis

15.  Strategic Recommendations

16.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

down-arrow

Bridge plugs are downhole devices used to seal off the bottom of a wellbore. Bridge plugs can be either permanent or retrievable, allowing for the temporary or permanent isolation of a lower wellbore from a treatment being performed on an upper zone.

down-arrow

Bridge Plugs are downhole tools made up of slips, a mandrel, and a sealing part made of elastomer. To separate a lower zone from an upper zone, it is routed through a hole and installed in a casing. It can be erected either permanently to shut off a well or momentarily to perform maintenance on the well.

down-arrow

Major market players in the Global Bridge Plugs Market are Omega Well Intervention, Halliburton, Baker Hughes, Schlumberger, Rubicon Oilfield International, D&L Oil Tools, Interwell, Coretrax, Avalon Global Research, Peak Completion Technologies.

down-arrow

The QUP retrievable bridge plug is a high-quality selective plug created to enable pressure control or tubing anchoring in monobore completions when current production nipples are destroyed. Various setup tools, such as E-line or coiled tubing, can be used to set the QUP retrievable bridge plug.