United States Downhole Casing Market was valued at USD 1.5 Billion in 2022 and is projected to reach USD 2.3 Billion by 2030, growing at a CAGR of 6.0% from 2024 to 2030.
The U.S. downhole casing market plays a pivotal role in the oil and gas industry, ensuring well integrity during drilling operations. In 2023, North America, led by the United States, contributed approximately 35% of the global well casing market share, reflecting the region's extensive shale gas exploration and production activities. citeturn0search0 A notable development in the industry is the joint venture between U.S.-based Hunting Energy Services and India's Jindal SAW Ltd. In 2023, they inaugurated a $25 million Oil Country Tubular Goods (OCTG) threading plant in Nashik, India, aiming to supply domestically manufactured products at competitive prices. citeturn0search1 The well casing market is projected to grow at a Compound Annual Growth Rate (CAGR) of 5.2% from 2021 to 2028, driven by increasing oil and gas exploration activities and advancements in drilling technologies. citeturn0search2 However, challenges such as fluctuating raw material prices and environmental regulations may impact this growth. Technological advancements are leading to the adoption of advanced materials like corrosion-resistant alloys and composite casings, enhancing well integrity and performance. citeturn0search3 Additionally, the integration of digital technologies and automation is optimizing drilling operations and reducing costs. citeturn0search4 Despite the rise of alternative energy sources, the demand for oil and gas remains robust, particularly in emerging economies. This ongoing demand underscores the importance of well casing systems in ensuring safe and efficient extraction processes. citeturn0search5 The U.S. downhole casing market is poised for continued growth, driven by technological innovations and sustained energy demand. Companies that invest in advanced materials and technologies are well-positioned to meet the evolving needs of the industry.
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Schlumberger
Deep Casing Tools
Sandvik
Centura Oil
Ardyne
Gryphon Oil Field
Ray Oil Tool
WB Supply
Hovoy
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Downhole Casing Market
Conventional Casing
Lined Casing
Expandable Casing
Composite Casing
Others
Steel
Fiberglass
Thermoplastic
Cement
Others
Onshore
Offshore
Geothermal
Mining
Others
Oil and Gas
Water Management
Mining
Geothermal Energy
Others
Support and Stability
Fluid Containment
Temperature Regulation
Pressure Management
Environmental Protection
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Downhole Casing Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Downhole Casing Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Downhole Casing Market, By Type
6. US Downhole Casing Market, By Application
7. US Downhole Casing Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Downhole Casing Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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