Market Size of Liner Hanger System Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.46 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Liner Hanger Market Analysis
The market for liner hanger system is expected to witness a CAGR of more than 5.46% during the forecast period (2020-2025).
- Major factors driving the market studied are the rising unconventional and deepwater E&P activities, increasing need for higher productivity and efficiency, and the advantage of covering vast areas by a single rig employing long lateral drilling methods. The risk of failure associated with liner hanger systems and the challenges associated with the availability of raw materials are likely to hinder the growth of the market studied.
- With the revival of oil and gas prices and kick start of various offshore projects, the offshore segment is likely to register a higher growth rate, as compared to onshore. Moreover, a greater degree of complexity in offshore oil and gas reserve formations is expected to push the companies to innovate and develop offshore specific liner hanger system.
- The development of deepwater and ultra-deepwater reserves is likely to act as an opportunity in the future.
- Asia-Pacific is expected to witness the fastest growth during the forecast period. China is by far the largest market in the Asia-Pacific region and is dominated by many local liner hanger system manufacturers unlike many other countries across the world.
