According to the latest report by IMARC Group, titled “Wellhead Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The Global Wellhead Equipment Market size to exhibit moderate growth during the next five years. Wellhead equipment is a component that is installed at the surface of an oil or gas well. It comprises seals, test plugs, casing head, casing spools, casing hangers, choke manifold, tubing heads, tubing hangers, tubing head adapter and mudline suspension systems. This equipment can be re-used and refurbished for other well and drilling operations. It ensures safe drilling and completion by keeping the pressure in the well under control. Besides this, it offers numerous functions, which include casing suspension, tubing suspension, pressure monitoring and pumping access, and acting as a reliable means of accessing the well.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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Global Wellhead Equipment Market Trends:

The escalating demand for energy, especially from emerging economies, represents one of the significant factors impelling the wellhead equipment market growth. This can be accredited to rapid urbanization and fast-paced industrialization in these countries. Apart from this, the steady growth of the oil and gas sector, in confluence with the rising number of deep and ultra-deep-water drilling projects, is also strengthening the growth of the market. Furthermore, prominent vendors are focusing on the development of innovative products to support the demand for harsher and manually unapproachable drilling environments. For instance, unmanned wellhead platforms are being utilized as a resting facility on the seabed as they are an effective alternative to subsea wells and a cost-efficient solution for shallow water developments.

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Competitive Landscape with Key players:

The report has also analysed the competitive landscape of the market with some of the key players being.

• Aker Solutions ASA
• Baker Hughes
• Cameron International Corporation
• Forum Energy Technologies Inc.
• Nabors Industries Ltd.
• National Oilwell Varco Inc.
• Oil States International Inc

Wellhead Equipment Market Segmentation:

Our report has categorized the market based on Region, Component, Application and Sector.

Breakup by Component:

• Hangers
• Flanges
• Master Valve
• Choke
• Others

Breakup by Application:

• Onshore
• Offshore

Breakup by Sector:

• OEM
• Aftermarket

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2015-2020)
• Market Outlook (2021- 2026)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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