LONDON–(BUSINESS WIRE)–Technavio has been monitoring the wellhead equipment market and it is poised to grow by USD 0.61 bn during 2020-2024, progressing at a CAGR of over 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aker Solutions ASA, Baker Hughes Co., Dril-Quip Inc., Forum Energy Technologies Inc., Nabors Industries Ltd., National Oilwell Varco Inc., Oil States International, Inc., TechnipFMC Plc, The Weir Group Plc, and Wellhead Systems Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Rising oil and gas consumption has been instrumental in driving the growth of the market.
Wellhead Equipment Market 2020-2024 : Segmentation
Wellhead Equipment Market is segmented as below:
- North America
- South America
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Wellhead Equipment Market 2020-2024 : Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our wellhead equipment market report covers the following areas:
- Wellhead Equipment Market size
- Wellhead Equipment Market trends
- Wellhead Equipment Market industry analysis
This study identifies an increasing number of deep and ultra-deepwater drilling projects as one of the prime reasons driving the wellhead equipment market growth during the next few years.
Wellhead Equipment Market 2020-2024 : Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the wellhead equipment market, including some of the vendors such as Aker Solutions ASA, Baker Hughes Co., Dril-Quip Inc., Forum Energy Technologies Inc., Nabors Industries Ltd., National Oilwell Varco Inc., Oil States International, Inc., TechnipFMC Plc, The Weir Group Plc, and Wellhead Systems Inc. Backed with competitive intelligence and benchmarking, our research reports on the Wellhead Equipment Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Wellhead Equipment Market 2020-2024 : Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist wellhead equipment market growth during the next five…
Read More: COVID-19 Impact & Recovery Analysis – Wellhead Equipment Market (2020-2024)
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