Unwavering Hydrocarbon Exploration Projects to Sustain Casing Centralizers Demand in the Long-Run: Fact.MR

Exponential population growth is accelerating primary energy requirements, prompting increased conventional fossil fuels exploration projects, thus sustaining demand

ROCKVILLE, MD / ACCESSWIRE / February 15, 2021 / Fact.MR’s global casing centralizers market report forecasts a moderate expansion rate for FY2021-22, with key recessionary impacts induced by the coronavirus pandemic expected to prevail for a considerable amount of time. As oil & gas exploration projects gradually resume, growth is expected to revert to normal levels. Long-term projection appear positive, with Fact.MR projecting a CAGR of nearly 4% through 2031.

Since the implementation of the sustainable development goals in 2015, a conscious attempt is being made to investigate renewable alternatives for energy generation. While this is expected to have a considerable impact on conventional energy sources, dependence is not likely to wane off completely. The BP Statistical Review of World Energy predicts that primary energy consumption shall increase by almost 40% over the next two decades. Collectively, all three fossil fuels are likely to converge at around 27%.

Consequently, hydrocarbon exploration projects are proliferating. By 2021-end, an addition of 900 thousand barrels of oil equivalent per day from upstream operations. Key projects include the Upper Zakum Production Capacity Enhancement, the Yanbu Crude Oil-to-Chemicals Complex and the Ruwais Refinery Complex 3rd Grassroot Refinery among others.

“Increased frequencies of greenfield and brownfield exploration projects are prompting casing centralizer manufacturers to introduce highly streamlined and operational specific equipment, with emerging economies expected to emerge as key revenue hotspots,” says a Fact.MR analyst.

Request a report sample with 170 pages to gain comprehensive insights at https://www.factmr.com/connectus/sample?flag=S&rep_id=2788

Key Takeaways from Fact.MR’s Casing Centralizers Market Study

  • By product, bow spring casing centralizers to generate high demand, owing to high operational flexibility
  • Onshore applications to account for a high revenue share, as global oil production account for four out of five operations
  • By material, steel casing centralizers to remain the ideal choice, generating almost 60% of the revenue
  • US to register impressive gains, attributed to burgeoning oil & gas exploration projects in the pipeline
  • UK to experience steady growth amid dominance of hydrocarbons as the primary energy source
  • Germany and France likely to experience modest growth amid stringent regulations prompting adoption of renewable alternatives
  • Expanding population base and the consequent increase in energy demand to catapult Indian and Chinese markets

Casing Centralizers Market- Prominent Drivers

  • Large-scale urbanization is augmenting demand for fossil-fuel driven automobiles, leading to increased hydrocarbon consumption, thus fueling growth
  • Manufacturers are capitalizing on potential shale gas reserves across emerging economies to expand their sales
  • Increasing off-shore drilling operations are widening revenue pools for existing casing centralizer manufacturers

Casing Centralizers Market- Key Restraints

  • Growth is likely to remain moderate in the short-run, attributed to the downswing induced by COVID-19
  • Preference for renewable energy sources is likely to hinder adoption amid dwindling hydrocarbon projects

Discover more about the casing centralizers market with 108 figures and 72 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/2788/casing-centralizer-market

Competitive Landscape

Halliburton, Maxwell Oil Tools Ltd., Moonshine Solutions AS, NeOz Energy, National Oilwell Varco, Summit Casing Equipment and Weatherford International are some prominent casing centralizer manufacturers profiled by Fact.MR. New product launches combined with strategic acquisitions constitute part and parcel of the aforementioned players’ growth strategies.

Halliburton, for instance, manufactures the ProtechCRB® Centralizers, which help prevent packing-off during pumping operations, reduces equivalent circulating density (ECD), is wear resistant and results in no galvanic corrosion. The casing centralizer helps mitigate cement-bond failure risk while reducing time for running and landing casing to total depth.

In March 2020, Maxwell Oil Tools Ltd. inaugurated a new branch office in Houston with the objective of expanding the scope of their manufacturing capabilities in the wake of increasing demand. This expansion is touted to enable the company respond more effectively to the burgeoning needs of US oil companies.

More Valuable Insights on the Casing Centralizers Market

Fact.MR, in its new offering, presents an unbiased analysis of the global casing centralizers market. The study divulges essential insights on the casing centralizers market on the basis of product (bow spring casing centralizers, rigid blade casing centralizers, semi-rigid casing centralizers, and inter-casing centralizers sub), application (onshore, and offshore), and materials (steel, aluminium, zinc, polymer and resin) across five major regions.

Key Questions Answered in the Report

  • What drives the global casing centralizer market expansion?
  • How lucrative is the opportunity in the US market?
  • Why are manufacturers increasing inroads in India and China?
  • What growth prospects are exhibited by the UK, French & German markets?
  • Which are the key factors expected to hinder casing centralizers adoption?
  • Which are the prominent casing centralizer manufacturers?

Request More Information about Report Methodology


Explore Fact.MR’s Coverage on the Industrial Goods Domain

Forestry Machinery Market: Delve into Fact.MR’s insightful coverage on the forestry machinery market. The study elaborates on the key growth dynamics responsible for shaping expansion trajectory of the forthcoming decade. This report sheds light on the prominent drivers, opportunities and trends prevailing across key segments in prominent geographies.

Light Towers Market: The global light towers market research report compiled by Fact.MR explicates on vital growth dynamics such as the drivers, trends and opportunities present across prominent segments in key geographical locations for the upcoming decade. Information regarding major stakeholders as well as key market players has also been provided in this insightful coverage.

Pallet Jack Market: Fact.MR has published a detailed market study on the global market for pallet jacks. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the pallet jack market structure.

About Fact.MR

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.


Sudip Saha

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates


View source version on accesswire.com:

error: Content is protected !!