Market Size of United States Liner Hanger System Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Liner Hanger System Market Analysis
The liner hanger system (LHS) market in the United States is expected to grow at a CAGR of more than 6.5% in the forecast period of 2020-2025. Increasing upstream activities in the Permian basin in the United States is one of the major driving factors for the liner hanger market. On the other hand, the global price decline in crude oil prices in 2020 has led to a halt or delay in various oil and gas projects. Also, a declining number of offshore wells in the United States is expected to restrain the market growth.
- With 990 active onshore rigs in the United States and increasing production from the Permian basin, the onshore sector is expected to dominate the liner hanger market.
- The United States has one of the largest technically recoverable shale gas reserves and the second-largest tight oil reserves in the world. Moreover, the technological development in hydraulic fracturing is expected to create ample opportunities for the liner hanger system.
- Most of the oil and gas projects in the United States are onshore, deploying conventional liner hangers. In the forecast period also, conventional LHS is expected to dominate the market.
