US Liner Hanger System Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 6.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Liner Hanger System Market Analysis
The liner hanger system (LHS) market in the United States is expected to grow at a CAGR of more than 6.5% in the forecast period of 2020-2025. Increasing upstream activities in the Permian basin in the United States is one of the major driving factors for the liner hanger market. On the other hand, the global price decline in crude oil prices in 2020 has led to a halt or delay in various oil and gas projects. Also, a declining number of offshore wells in the United States is expected to restrain the market growth.
- With 990 active onshore rigs in the United States and increasing production from the Permian basin, the onshore sector is expected to dominate the liner hanger market.
- The United States has one of the largest technically recoverable shale gas reserves and the second-largest tight oil reserves in the world. Moreover, the technological development in hydraulic fracturing is expected to create ample opportunities for the liner hanger system.
- Most of the oil and gas projects in the United States are onshore, deploying conventional liner hangers. In the forecast period also, conventional LHS is expected to dominate the market.
US Liner Hanger System Market Trends
This section covers the major market trends shaping the US Liner Hanger System Market according to our research experts:
Onshore Sector to Dominate the Market
- A liner hanger system consists of a liner hanger assembly, releasing tool, cementing head, packer, etc. The liner hanger system is a part of well completion and can be mechanical or hydraulic, premium or standard, rotating or non-rotating, conventional or expandable, and pocket slip.
- The United States was one of the largest producers of crude oil and natural gas, accounting for around 18% and 23% of the global production, respectively, in 2019. The production surged in 2019, mainly due to robust drilling in its shale reserves, led by the Permian Basin.
- ConocoPhillips reported its exploration success in Alaska in 2018. Based on the results, the company believes that it has captured 0.5 to 1.1 Bboe of gross discovered resource, with 75% of its prospective exploration acreage still to be drilled. The discovered field is expected to drive the LHS demand significantly.
- With total crude oil production of 17 million barrels per day in the United States, the market of oil and gas is growing and simultaneously driving the need for liner hanger systems.
- Due to the Coronavirus pandemic in 2020, delay in upstream projects can be expected. Later in the forecast period, with the initiation of new onshore projects and completion of drilled wells, the market of the liner hangers is expected to grow considerably.
Conventional Liner Hanger System to Dominate the Market
- Mechanical LHS is designed for vertical, onshore, and low-deviation wells, whereas the hydraulic liner hangers are mostly used in offshore wells and horizontal, deep, and HP/HT onshore wells.
- As of April 2019, 8390 drilled wells are incomplete in the country, with the Permian Basin having the largest share. These wells are expected to be completed in the coming years, creating ample opportunity for the liner hanger system suppliers.
- At the beginning of 2018, the government announced the opening of 98% of the coastal water for oil and gas exploration and production. The announcement is expected to drive the demand for conventional liner hanger systems in the offshore sector in the long run.
- Despite the decrease in the number of active rig count to 990 in 2019, the production of both crude oil and natural gas is increasing, driving the market of the liner hanger system significantly.
- Factors, such as increasing share of horizontal and directional drilling, significant oil and gas discoveries in both onshore and offshore segments, along with the shift toward unconventional fields, are expected to boost the demand for conventional liner hangers.
US Liner Hanger System Industry Overview
The United States liner hanger system market is moderately consolidated. Some of the major companies include National-Oilwell Varco, Inc., Halliburton Company, Weatherford International plc, Baker Hughes Company, Schlumberger Limited Ltd.
US Liner Hanger System Market Leaders
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Halliburton Company
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Weatherford International plc
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Schlumberger Limited
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Baker Hughes Company
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National-Oilwell Varco, Inc
*Disclaimer: Major Players sorted in no particular order
US Liner Hanger System Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of Study
- 1.2 Market Definiton
- 1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2025
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
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4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitute Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Type
- 5.1.1 Conventional
- 5.1.2 Expandable
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5.2 Location of Deployment
- 5.2.1 Offshore
- 5.2.2 Onshore
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 Halliburton Company
- 6.3.2 Weatherford International plc
- 6.3.3 National Oilwell Varco Inc.
- 6.3.4 Baker Hughes Company
- 6.3.5 National-Oilwell Varco, Inc
- 6.3.6 Well Innovation AS
- 6.3.7 NCS Multistage LLC
- 6.3.8 Schlumberger Limited
- 6.3.9 Drill-Quip Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityUS Liner Hanger System Industry Segmentation
The United States liner hanger system market report includes:
| Type | Conventional |
| Expandable | |
| Location of Deployment | Offshore |
| Onshore |
US Liner Hanger System Market Research FAQs
What is the current United States Liner Hanger System Market size?
The United States Liner Hanger System Market is projected to register a CAGR of greater than 6.5% during the forecast period (2024-2029)
Who are the key players in United States Liner Hanger System Market?
Halliburton Company , Weatherford International plc , Schlumberger Limited , Baker Hughes Company and National-Oilwell Varco, Inc are the major companies operating in the United States Liner Hanger System Market.
What years does this United States Liner Hanger System Market cover?
The report covers the United States Liner Hanger System Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United States Liner Hanger System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United States Liner Hanger System Industry Report
Statistics for the 2024 United States Liner Hanger System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Liner Hanger System analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
