The global casing centralizers market is anticipated to grow at a CAGR of 3.9% to create an absolute $ opportunity of more than US$ 215.9 million during the forecast period (2020-30). It is anticipated to be valued at more than US$ 675.0 million by 2030-end, according to a new Fact.MR study.
However, amidst the COVID-19 outbreak, several companies have temporarily abandoned discoveries of new oil & gas fields, aligning with social distancing requirements and stay at home orders. A halt in operation of several end-use industries along with closures of production facilities and supply chains disruptions has creating a logistical havoc in the casing centralizers market. As the pandemic fades with significant containment measures and resumption of factories in the most affected countries such as China, the casing centralizers market is expected to rebound by the second half of the forecast period and create significant opportunities for manufacturers.
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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.
“The adoption of casing centralizers is expected to be on a significant rise, with an estimated increase in the greenfield and brownfield projects in the upstream. However, postponement and cancellation of these projects and delays in investment in oil & gas exploration, due to the COVID-19 outbreak, will hinder the casing centralizers market growth in the first half of the forecast period,” concludes the Fact.MR analyst.
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Key Segments of the Casing Centralizers Market
The Fact.MR’s study on the casing centralizers market offers information divided into three key segments-product, application, and materials across five regions. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
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
Region
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
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Questionnaire answered in the Casing Centralizers Market report include:
- How the market for Casing Centralizers has grown?
- What is the present and future outlook of the global Casing Centralizers on the basis of region?
- What are the challenges and opportunities for the Casing Centralizers?
- Why the consumption of Casing Centralizers highest in region?
- In which year segment is expected to overtake segment?
What makes Fact.MR report stand out from others?
- MR follows a six-point mechanism known as E.V.O.L.V.E. (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.). The report is specially created to assess the COVID-19 impact on the Casing Centralizers market. This mechanism focuses on almost all the factors in a definite manner to provide the best research report for the market stakeholders.
- Evaluate: A Fact.MR report evaluates every small aspect that can prove to be a growth generator for the Casing Centralizers market, thus, making it different and special from other reports.
- Visualize: The authors involved in the research activities visualized the post-COVID-19 era so that the key stakeholders of market get an overview and helps them take certain steps to ensure continuous growth during the forecast period.
- Overcome: The report scrutinizes on points that can prove to be an Achilles heel to the Casing Centralizers market and assists to create strategies to overcome the obstacles that may hinder the growth of the Casing Centralizers market.
- Leverage: The Casing Centralizers market can leverage certain aspects that can prove beneficial for the increase in growth rate. Fact.MR covers all the points on which the key stakeholders can leverage upon.
- Verify: Research is done systematically to assure validation of all the aspects covered in the report. All the points are rechecked and verified thoroughly to avoid flaws and fake information.
- Eradicate: Last but not the least, this aspect helps the key stakeholder eradicate all the obstacles that come between the growth rate and the Casing Centralizers market.
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