The casing centralizers market refers to the market for devices that are used to position the casing in the center of a wellbore during the drilling process. This is important to ensure that the casing is properly supported and to prevent it from getting stuck in the wellbore. Casing centralizers can be made from a variety of materials, including steel, aluminum, and plastic, and can be either rigid or flexible. The market for casing centralizers is driven by factors such as the increasing demand for oil and gas exploration and production, advancements in drilling technology, and changes in regulations. It is expected to grow in the future due to the increasing number of drilling projects and the need for better wellbore integrity.
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Key Segments of the Casing Centralizers Market
Product
- Bow Spring Casing Centralizers
- Rigid Blade Casing Centralizers
- Semi-Rigid Casing Centralizers
- Inter-Casing Centralizers Sub
Application
- Onshore
- Offshore
Materials
- Steel
- Aluminium
- Zinc
- Polymer
- Resin
Manufacturers Focus on Business Expansion through M&A Activities
The global casing centralizers market is highly competitive in nature. Key players are focusing on expanding their business operations through acquisitions. For instance,
- In January 2018, Madison Industries completed its acquisition of Centek Group. The acquisition was aimed at producing highest quality products and delivering outstanding customer service
- In November 2017, Maxwell Oil Tools completed its acquisition of the composites manufacturing and supply division of Innovex Downhole Solution
Key Takeaways of Casing Centralizers Market Study
- The global casing centralizers market is expected to grow at a volume CAGR of 3.7% and expand 1.4X through 2030.
- Bow spring casing centralizers will continue to hold maximum share of the total market value and create an absolute $ opportunity of US$ 93.5 million during the forecast period.
- Onshore application of casing centralizers is expected to grow at a value CAGR of 3.8%, however, lose 110 BPS from its market share through 2030.
- Steel remains the material of choice and accounts for nearly three-fifth of the overall casing centralizers market value.
- North America will remain at the forefront, accounting for more than 45% share of the global market value, owing to rapid exploration of unconventional resources.
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