Oilfield Casing Spools Market Size - Dynamic Growth & Industry Forecast to 2027
Casing spool is essential equipment that is used for the drilling process owing to its ability to control the wellhead pressure. These are often flange ended on the top and connected to the bottom of the tubing head that becomes a part of the wellhead system of the oil well.
The global oilfield casing spools market has been segmented into five regions, namely, Asia-Pacific, the Middle East & Africa, Europe, North America, and South America. North America is expected to hold the largest market share of the oilfield casing spools market due to the rapid growth in the mining and oil and gas sectors. Moreover, according to the US Energy Information Administration (EIA), in 2018, approximately 6.44 million bpd of crude oil was produced from tight oil resources in the US. In Asia-Pacific, the market is expected to expand significantly, owing to rising oil & gas production and extraction. Europe is also expected to foresee positive trends in the upcoming years owing to the increasing mining activities. The Middle East & Africa and South America are likely to grow owing to their rapid growth in high pressure and critical service applications.
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The global oilfield casing spools market has been segmented based on type, casing size, working pressure, and flange pressure. Based on type, the global market is divided into stainless steel and low alloy steel. The stainless steel segment is expected to hold a larger share of the global market during the forecast period owing to its various advantages, including corrosion-resistant alloy ring grooves, which is usually provided with studded end connection.
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Scope of the Report
This report provides an in-depth analysis of the global oilfield casing spools market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and share for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global oilfield casing spools market by type, casing size, working pressure, flange pressure, and region.
The key players operating in the global Oilfield casing spools market are Baker Hughes, a GE Co. LLC (US), Schlumberger Ltd (US), Delta US Corp. LLC (US), Sentry Wellhead Systems LLC (US), Shaanxi FYPE Rigid Machinery Co. Ltd (China), The Weir Group Plc (UK), Uztel SA (Romania), Worldwide Oilfield Machine Inc. (US), Jiangsu HongFei Petroleum Machinery Manufacturing Co. Ltd (China), Yantai Jereh Oilfield, Services Group Co. Ltd. (China), and Jereh Group (China).
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