Market Size of Middle-East and Africa Liner Hanger System Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.30 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Middle-East And Africa Liner Hanger System Market Analysis
Over the next five years, the liner hanger system market in the Middle East and Africa is expected to register a CAGR of more than 4.3%.
In 2020, COVID-19 had a detrimental effect on the market.Presently, the market has reached pre-pandemic levels.
- Over the long term, with the world's largest oil reserves, the region is expected to witness significant growth in upstream oil and gas activities in the forecast period. Moreover, the increasing gas production in the Middle East is driving the demand for the liner hanger system.
- On the other hand, the global crude oil price decline in 2020 and 2021 has led to a halt or delay in various oil and gas projects. Also, total crude oil production in the Middle East declined in 2021. If this declining trend continues, it is expected to have a negative impact on further market growth.
- With the largest proven reserves of natural gas and crude oil, the Middle East and Africa have significant potential for exploration and completion activities, which will create substantial opportunities for the liner hanger system market in the near future.
Middle-East And Africa Liner Hanger System Industry Segmentation
A liner hanger is a tool or system that is used to hang a liner in an oil and gas production well.
The market for liner hanger systems in the Middle East and Africa is split up by type, 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 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).
| Type | |
| Conventional | |
| Expandable |
| Location of Deployment | |
| Offshore | |
| Onshore |
| Geogrpahy | |
| The United Arab Emirates | |
| Saudi Arabia | |
| Nigeria | |
| Rest of Middle-East and Africa |
Middle-East and Africa Liner Hanger System Market Size Summary
The Middle-East and Africa liner hanger system market is poised for growth, driven by the region's vast oil and gas reserves and increasing upstream activities. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19. The demand for liner hanger systems is bolstered by rising gas production and exploration activities, particularly in the Persian Gulf. However, fluctuations in global crude oil prices and geopolitical factors, such as sanctions on Iran, pose challenges to market expansion. Despite these hurdles, the potential for exploration and completion activities in the region presents substantial opportunities for market players.
The market landscape is moderately consolidated, with key players like National-Oilwell Varco, Halliburton, Weatherford International, Baker Hughes, and Schlumberger leading the charge. These companies are actively involved in significant projects, such as Saudi Aramco's Jafurah project and Abu Dhabi National Oil Company's drilling initiatives, which are expected to drive demand for liner hanger systems. The focus on unconventional reserves in countries like Saudi Arabia further underscores the long-term growth prospects for the market. As onshore and offshore exploration activities intensify, the demand for both hydraulic and expandable liner hanger systems is anticipated to rise, supporting the market's expansion in the coming years.
Middle-East and Africa 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 2028
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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 Arab Emirates
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2.3.2 Saudi Arabia
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2.3.3 Nigeria
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2.3.4 Rest of Middle-East and Africa
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Middle-East and Africa Liner Hanger System Market Size FAQs
What is the current Middle-East and Africa Liner Hanger System Market size?
The Middle-East and Africa Liner Hanger System Market is projected to register a CAGR of greater than 4.30% during the forecast period (2024-2029)
Who are the key players in Middle-East and Africa Liner Hanger System Market?
Weatherford International plc , Schlumberger Limited , Baker Hughes Ltd , National-Oilwell Varco, Inc and Halliburton Company are the major companies operating in the Middle-East and Africa Liner Hanger System Market.
