Market Size of Europe Liner Hanger System Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 3.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Liner Hanger Market Analysis
The Liner Hanger System Market in Europe is expected to grow at a CAGR of more than 3.4% in the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the long term, the surge in upstream activities in Russia and Norway is likely to boost the region's demand for Liner Hanger Systems (LHS).
- On the other hand, the global crude oil price decline in 2020 & 2021 has led to a halt or delay in various oil and gas projects. Also, declining production in Norway, Denmark, and Italy is expected to restrain the expected growth in the forecast period.
- The Bowland Shale in Northern England and the Midland Valley of Scotland, and the Weald Basin in Southern England are expected to create drilling and completion opportunities in the future, driving the market of the Liner Hanger System.
- Russia is one of the leading markets for Liner Hanger Systems in the region and is expected to continue its dominance in the forecast period.
Europe Liner Hanger Industry Segmentation
Liner hanger is a tool/system that is used to hang a liner in an oil and gas production well.
The Europe Liner Hanger System Market is segmented by type and location of deployment and geography. By type, the market is segmented into conventional and expandable. By location of deployment, the market is segmented into onshore and offshore. The report also covers the market size and forecasts for the Europe Liner Hanger System Market across the major countries in the region. For each segment, the market size and forecasts have been done based on revenue (USD billion).
| Type | |
| Conventional | |
| Expandable |
| Location of Deployment | |
| Offshore | |
| Onshore |
| Geogrpahy | |
| The United Kingdom | |
| Norway | |
| Russia | |
| Rest of Europe |
Europe Liner Hanger System Market Size Summary
The Europe Liner Hanger System Market is poised for growth, driven by increased upstream activities in Russia and Norway, despite challenges such as the decline in global crude oil prices and production setbacks in countries like Norway, Denmark, and Italy. The market has rebounded to pre-pandemic levels after the initial impact of COVID-19. Key regions such as the Bowland Shale, Midland Valley, and Weald Basin are expected to offer new drilling and completion opportunities, further propelling market demand. Russia stands out as a dominant player in the region, with significant shale oil and gas reserves, including the Bazhenov Shale, which is anticipated to see development in the coming years. The offshore segment, particularly in the North Sea, is expected to lead market growth, supported by new oil and gas field approvals and exploration activities in Norway.
The Liner Hanger System, an integral component of well completion, is experiencing a resurgence due to high-profile projects like the Culzean gas field in the North Sea. However, environmental concerns related to fracking pose challenges to shale gas development in the UK. The market is characterized by fragmentation, with major companies such as National-Oilwell Varco, Inc., Halliburton Company, Weatherford International plc, Baker Hughes, and Schlumberger Limited playing significant roles. The demand for liner hanger systems is expected to rise in tandem with increased drilling activities, particularly horizontal drilling, in Russia. This growth is further supported by initiatives like Equinor's exploration plans in Norway and ConocoPhillips' drilling permits, which underscore the ongoing need for liner hanger systems in the region.
Europe Liner Hanger System Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Conventional
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2.1.2 Expandable
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2.2 Location of Deployment
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2.2.1 Offshore
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2.2.2 Onshore
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2.3 Geogrpahy
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2.3.1 The United Kingdom
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2.3.2 Norway
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2.3.3 Russia
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2.3.4 Rest of Europe
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Europe Liner Hanger System Market Size FAQs
What is the current Europe Liner Hanger System Market size?
The Europe Liner Hanger System Market is projected to register a CAGR of greater than 3.40% during the forecast period (2024-2029)
Who are the key players in Europe Liner Hanger System Market?
Halliburton Company , Weatherford International plc , Schlumberger Limited , Baker Hughes Ltd and National-Oilwell Varco, Inc are the major companies operating in the Europe Liner Hanger System Market.
