Market Size of United States Liner Hanger System Industry
| 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 Industry Segmentation
The United States liner hanger system market report includes:
| Type | |
| Conventional | |
| Expandable |
| Location of Deployment | |
| Offshore | |
| Onshore |
United States Liner Hanger System Market Size Summary
The United States liner hanger system market is poised for significant growth, driven primarily by increased upstream activities in the Permian Basin. This region's robust production capabilities, coupled with the country's vast technically recoverable shale gas and tight oil reserves, position the market for expansion. Despite challenges such as the global decline in crude oil prices and a decrease in offshore wells, the onshore sector, dominated by conventional liner hangers, is expected to lead the market. Technological advancements in hydraulic fracturing further enhance opportunities for liner hanger systems, supporting the completion of numerous onshore projects.
The market landscape is moderately consolidated, with key players like National-Oilwell Varco, Inc., Halliburton Company, Weatherford International plc, Baker Hughes Company, and Schlumberger Limited Ltd. driving competition. The demand for liner hanger systems is anticipated to rise as new onshore projects commence and previously drilled wells are completed. Additionally, the opening of coastal waters for oil and gas exploration is expected to bolster the demand for conventional liner hangers in offshore sectors. The shift towards horizontal and directional drilling, along with significant oil and gas discoveries, is likely to further propel market growth, ensuring a robust demand for liner hanger systems in the coming years.
United States 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 2025
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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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United States Liner Hanger System Market Size 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.
