The global landing string equipment market at a CAGR of over 6% during the forecast period

NEW YORK, July 10, 2019 /PRNewswire/ --

Global Landing String Equipment Market: About this market

Landing strings are the heavy-duty thick wall drill pipes, which can be used for offshore oil and gas drilling purposes, landing heavy equipment on the seabed, and landing heavy casing strings in offshore wells. This landing string equipment market analysis considers the applications of landing string equipment in shallow water, deepwater, and ultra-deepwater Our analysis also considers the sales of landing string equipment in North America, Europe, APAC, MEA, and South America. In 2018, the deepwater segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the rise in offshore deepwater oil and gas E&P projects will play a significant role in the deepwater segment to maintain its market position. Our global landing string equipment market report looks at factors such as the rise in deepwater and ultra-deepwater E&P activities, increase in global offshore rig count, and growing demand for oil and natural gas. However, the rise of renewable energy, difficulties involved offshore oil and gas production, and safety and environmental concerns associated with subsea E&P activities may hamper the growth of the landing string equipment industry over the forecast period.

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Global landing string equipment market: Overview

Increase in global offshore rig count

The recovery of crude oil prices has encouraged several oil and gas companies to increase their investments in new drilling projects. The increase in active offshore rigs has heightened the number of wells being drilled in offshore well sites, which has increased the demand for landing strings. Thus, the rise in global offshore rig count will be a key factor driving the growth of the global landing string equipment market at a CAGR of over 6% during the forecast period.

Growing advances in landing string control systems

The landing string equipment market is witnessing significant technological advancements in landing string control systems owing to the growing need for optimizing the use of landing string in subsea wells. Vendors are developing landing string control systems that offer enhanced well control and enable quick sealing and shutting of subsea wells during adverse weather conditions. These advances in landing string control systems are expected to fuel the demand for landing string equipment throughout the next five years.

For the detailed list of factors that will drive the global landing string equipment market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global landing string equipment market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading landing string equipment manufacturers, that include Expro Holdings UK 2 Ltd., National Oilwell Varco Inc., Superior Energy Services Inc., Vallourec SA, and Yantai Enerserva Machinery Co. Ltd.

Also, the landing string equipment market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

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