Market Size of Asia-Pacific Liner Hanger System Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.60 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Liner Hanger System Market Analysis
The liner hanger system market in Asia-Pacific is expected to grow at CAGR of more than 6.6% in the forecast period of 2020-2025. Increasing upstream activities in regions like China, Australia, and India are driving the need for liner hanger systems. An increase in exploration activities in the shale reservoir and deepwater reservoirs are also expected to drive the market in the forecast period. On the other hand, the global crude oil price decline in 2020 has led to a halt or delay in various oil and gas projects, which is expected to restrain the market growth.
- With the depletion of onshore reserves, the shift towards offshore exploration is expected to drive the market of liner hangers in the forecast period.
- The exploration of deepwater and ultra-deepwater projects and increasing investment in the shale are likely to create ample opportunities for the market players in the future.
- China is anticipated to dominate the market during the forecast period. With the largest proven reserves of oil and the highest production, the country is expected to lead in the market.
