Oil and Gas Packer Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions, and By Key Players: Dril-Quip, GENERAL ELECTRIC, National Oilwell Varco, Schlumberger, Halliburton

Registering a CAGR of 3.3% over the forecast period, the market value of Oil and Gas Packer is expected to reach US$ 1,405.70 million in the year 2027.

Oil and Gas Packer Market Overview

The oil and gas packer market is expected to grow at an exponential rate in the coming years. Oil and gas packers are round and hollow tubes made of high elasticity materials that can be expanded and contracted as needed.

Increasing oil and gas drilling and extraction activities, particularly in unconventional reserves, are expected to drive the global packer market over the forecast period. Global horizontal drilling activity is expected to boost the packer market. Upcoming E&P projects, particularly in the Asia Pacific and Latin America, are also expected to boost packer demand over the next five years. Variations in ambient properties in different reservoir formations necessitate more safety during the extraction process, which is expected to drive packer demand over the next five years.

An increase in energy demand, an increase in deepwater drilling activities, and a surge in shale gas exploration and production (E&P) activities are driving the growth of the global oil and gas packer market. Furthermore, as crude oil prices have risen, so has the demand for efficient technologies to extract oil from unconventional resources such as tight sandstone formations. During the forecast period, this factor is expected to boost demand for oil and gas packers. Increasing investment costs, on the other hand, may stifle market growth during the forecast period. The human intervention required for retrievable packer retrieval results in high operational costs.

The report aspects discussed the profile of the top manufacturers of the global Oil and Gas Packer market. These aspects include the financial status of major companies, trending advancements, and the entire market scenario. Growth of the report has examined Oil and Gas Packer Market production, demand and growth potential, geographic analysis, as well as current market developments in various regions and countries.

Who are the Major Players in the Oil and Gas Packer Market?

The global Oil and Gas Packer includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include Dril-Quip, GENERAL ELECTRIC, National Oilwell Varco, Schlumberger, Halliburton, Weatherford and others.

Industry News and Updates:

Halliburton Introduces the New Casing Annulus Packer Collar

31 January 2022 - Halliburton Company (NYSE: HAL) introduced ObexTM IsoLockTM, a new compression-set packer that prevents casing pressure from being sustained (SCP). The Obex IsoLock packer collar acts as an effective barrier to fluid migration and supports multiple-stage cementing via the tool's integrated stage cementing ports.

What are the major Applications, Types, and Regions for the Oil and Gas Packer Market?

The market is segmented based on the type, applications, companies, and regions.

By Type, it is segmented into

• Permanent Packer


• Retrievable Packer

By Application, it is segmented into

• Oil Industry


• Natural Gas Industry


• Other

Oil and Gas Packer Market Regional Analysis

North America is expected to experience healthy growth in the coming years as onshore extraction activities expand and shale gas production increases. Growth in the automobile industry in Europe, particularly in Germany, will boost the growth of the packer market. Increased drilling activity in Russia and Norway will also help the market.

In the Asia Pacific region, upcoming E&P projects in countries such as India and China will drive market growth. In addition, increased extraction and drilling activities in countries such as China, India, and Singapore will propel the market. Countries in the Middle East and Africa, such as the UAE and Saudi Arabia, have massive oil and gas reserves, which will drive market growth. Increased shale gas production will also lead to market growth in the coming years.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Oil and Gas Packer Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global Oil and Gas Packer Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Oil and Gas Packer Market report scope?

Scope of the Report covers Oil and Gas Packer Market with a detailed analysis of the overall scenario for the market. It also highlights the business participants’ environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background, and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this Oil and Gas Packer Market analysis report as it has vital details to provide about regional markets and expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how the worldwide market is working through efficient information graphics.

Key Takeaways from this Oil and Gas Packer Report

• Evaluate Oil and Gas Packer market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level - for product types, end-use applications, and different industries verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.


• Get in-depth insights on your competitor’s performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies to your processes.


• Get a quick outlook on the Oil and Gas Packer market entropy – M&As, deals, partnerships, and product launches of all key players for the past 5 years.


• Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.

Frequently Asked Questions

What is the study period of this market?

The Oil and Gas Packer Market is studied from 2017 - 2027.

What is the growth rate of the Oil and Gas Packer Market?

The Oil and Gas Packer Market is growing at a CAGR of 3.3% over the next 5 years.

Who are the key players in Oil and Gas Packer Market?

Dril-Quip, GENERAL ELECTRIC, National Oilwell Varco, Schlumberger, Halliburton, Weatherford

What regions does this Oil and Gas Packer Market report cover?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of Oil and Gas Packer Market?

Permanent Packer, Retrievable Packer

What are the major end-use applications of Oil and Gas Packer Market?

Oil Industry, Natural Gas Industry, Other

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