Increasing demand for oil and gas and rising transportation fuel consumption are driving market growth.
TechSci Research forecasts robust growth for the Saudi Arabia Liner Hanger System Market from 2024 to 2028. Liner hangers are crucial machinery in oil and gas wells, supporting and hanging liners while aiding installation with slips. They are essential for most completion wells, especially in challenging drilling conditions.
Liner hanger systems consist of various components like releasing tools, cementing heads, and packers, offering mechanical, hydraulic, expandable, and other configurations. With Aramco’s plans to produce 0.65 bcm of natural gas daily by 2028, focusing on unconventional reserves, demand for liner hanger systems is expected to increase, particularly in onshore drilling where the majority of reserves are located.
Saudi Arabia’s significant shale reserves will drive further demand for liner hanger systems as unconventional resources are exploited. Despite constraints from high-pressure wellhead housings, market expansion is supported by factors like increased rig deployment and technological advancements. Moreover, major market players stand to benefit from the rise in used car sales.
Kuwait, a major oil and gas producer in the Middle East, is expected to maintain strong production levels, with significant reserves of natural gas and crude oil, further contributing to regional market dynamics.
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The Saudi Arabia Liner Hanger System Market is categorized by Well type, Hanger Type, and Application. Well types include horizontal/directional and vertical wells. Hanger types consist of Mechanical, Hydraulic, and Expandable liner hangers.
Mechanical liner hangers, preferred for their cost-effectiveness and simplicity, are commonly used in shallow depths. Expandable liner hangers, designed for deep-water wells with heavy and lengthy liners, are expected to see demand mainly from Brazil, Nigeria, Canada, the United States, and Angola.
In terms of application, the onshore segment is anticipated to dominate the market in the coming years. Growth in shale oil and gas exploration and production activities is expected to drive expansion in the onshore oil and gas equipment industry and consequently, the global market for liner hanger systems.
Major market players in the Saudi Arabia Liner Hanger System Market are: –
- National-Oilwell Varco, Inc
- Halliburton Company
- Weatherford International plc
- Baker Hughes Company
- Schlumberger Limited
- NOV Inc.
- SCM Daleel
- Allamon Tool Company Inc.
- Tianjin Elegant Technology
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“The liner hangers market is expanding due to increased rig count, larger drilling spaces per well, and technical advancements. However, growth is hindered by restrictions in high-pressure wellhead housings. Nonetheless, major market players show promising potential, especially with the rise in used car sales,” stated Mr. Karan Chechi, Research Director at TechSci Research, a global management consulting firm.
The report on the Saudi Arabia Liner Hanger System Market evaluates its future growth potential from 2018 to 2028, providing insights on market size, structure, and future prospects. It aims to offer cutting-edge market intelligence to aid investment decisions, while also identifying emerging trends, drivers, challenges, and opportunities in the market.
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