Market Size of Europe Liner Hanger System Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 3.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Liner Hanger Market Analysis
The Liner Hanger System Market in Europe is expected to grow at a CAGR of more than 3.4% in the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the long term, the surge in upstream activities in Russia and Norway is likely to boost the region's demand for Liner Hanger Systems (LHS).
- On the other hand, the global crude oil price decline in 2020 & 2021 has led to a halt or delay in various oil and gas projects. Also, declining production in Norway, Denmark, and Italy is expected to restrain the expected growth in the forecast period.
- The Bowland Shale in Northern England and the Midland Valley of Scotland, and the Weald Basin in Southern England are expected to create drilling and completion opportunities in the future, driving the market of the Liner Hanger System.
- Russia is one of the leading markets for Liner Hanger Systems in the region and is expected to continue its dominance in the forecast period.
