Global
oil
and gas packer market is anticipated to witness an exponential growth
in the forecast period. Oil and gas packers are cylindrical in shape, and are
made up of a rubber-like material, which could be compressed as and when
required. The oil and gas packers seal the well walls, thereby stopping any
vertical flow of fluid in that section of the well.
The
factors that propel the growth of the market include increasing applications of
packer as a downhole tool, increase in manufacture of shale oil and gas,
growing demand for energy driven by rapid economic growth and
industrialization, and increase in drilling activities to fulfill the
increasing need for fossil fuel. On the other hand, there are factors that may
hamper the growth of the market including variations in oil and gas charges.
Oil and gas packer market is anticipated to expand at a significant CAGR in the
upcoming period as the scope, product types, and its applications are
increasing across the globe.
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Oil
and gas packer market could be explored by type, application, and geography.
Market could be explored by type as Retrievable Packer and Permanent Packer.
The key applications that could be explored in the market include Natural Gas
Industry, Oil Industry and Other.
The
“Retrievable Packers” segment led the market in 2017 and will continue to lead in
the forecast period. The key factors that may be attributed to the growth of
market includes low cost of retrievable Packers than Permeant packer and
numerous installations during the well lifecycle.
North
America accounted for the major share of the oil and gas packer industry in
2017 and will continue to lead in the forecast period. The factors that could
be attributed to the growth include increasing demand from end user segment,
rising drilling activities in North American region and increase in drilling
activities relating to oil and gas extraction in the Canada and U.S. North
America is followed by APAC region.
Market Segment:
This report focuses on the top
manufacturers' Oil and Gas Packer capacity, production, value, price and market
share of Oil and Gas Packer in global market. The following manufacturers are covered
in this report:
•
Dril-Quip
•
GENERAL ELECTRIC
•
Halliburton
•
National Oilwell Varco
•
Schlumberger
•
Weatherford
Oil and Gas Packer Breakdown Data by
Type
•
Permanent Packer
•
Retrievable Packer
Oil and Gas Packer Breakdown Data by
Region
•
North America
•
United States
•
Canada
•
Mexico
•
Asia-Pacific
•
China
•
India
•
Japan
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