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Global Wellhead Equipment Market to reach USD XX billion by the end of 2030.

Global Wellhead Equipment Market Size study & Forecast, by Component (Hangers, Flanges, Master valve, Choke, Others), by Application (Onshore, Offshore) and Regional Analysis, 2023-2030

Product Code: OIRIA-64702612
Publish Date: 20-10-2023
Page: 200

Global Wellhead Equipment Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Wellhead equipment refers to a set of components and devices used in the oil and gas industry to control the flow of fluids (oil and natural gas) from a wellbore. It is installed at the surface of an oil or gas well and serves as the primary interface between the subsurface reservoir and the surface production facilities. The wellhead equipment plays a crucial role in ensuring the safe and efficient extraction of hydrocarbons from the well. The Wellhead Equipment market is expanding because of factors such as rising oil exploration and drilling activities across the globe, growing global energy demand, and rising government investment.

The increasing demand for oil and gas has led to higher E&P activities globally. Wellhead equipment is essential in the drilling and extraction processes, which drives the demand for such equipment. According to the International Energy Agency, total oil demand across the globe was 91 million barrels per day in 2020, climbed to 99.4 million barrels per day in 2022, and is expected to reach 104.1 million barrels per day by 2026. Furthermore, The Abu Dhabi National Oil Company (ADNOC) planned investments in November 2021 that could total up to about USD 6 billion (AED 22 billion) in order to support increased drilling as it increases its ability to produce crude oil to 5 million barrels per day (mmbpd) by 2030. Similarly, in January 2023, the Uganda government announced its plans to develop oil rigs and production with an investment of USD 2 billion and the start of drilling the first production well, a key milestone as the country races to meet its target of first oil output in 2025 after a long delay. Thus, rising oil exploration and drilling activities are driving the market growth. In addition, technological developments in wellhead systems and the rise in the redevelopment of mature oil wells are some factors creating new opportunities for market growth. However, the high cost of wellhead equipment stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Wellhead Equipment Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising oil demand, rising government investment in the development of various oil drilling and exploration projects, and rising production innovation activities in wellhead equipment. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising oil demand, rising development of new oil production projects, and rising investment in the industry.

Major market player included in this report are:
Baker Hughes Company
Weatherford International PLC
TechnipFMC PLC
Schlumberger Limited
NOV Inc.
Weir Group PLC
Oil States International Inc.
Forum Energy Technologies Inc.
Great Lakes Wellhead Inc.
Cactus Wellhead LLC

Recent Developments in the Market:
Ø In February 2021, PETRONAS Carigali Sdn Bhd granted a sizable contract to TechnipFMC subsidiary FMC Wellhead Equipment Sdn Bhd for the Limbayong deepwater development project offshore Malaysia. The development of 10 deepwater wells under this contract will be tied back to Malaysia’s Limbayong Floating Production Storage and Offloading (FPSO) unit.
Ø In May 2022, Baker Hughes unveiled a new subsea wellhead technology called the MS-2 Annulus Seal to drastically lower operational rig costs. The MS-2 Annulus Seal interfaces with Baker Hughes’ current MS-800 wellhead system to minimise well construction and intervention costs, increase intervention possibilities, and assure security and confidence in the well’s integrity under difficult conditions.

Global Wellhead Equipment Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Component, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:
Master valve

By Application:

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Wellhead Equipment Market, by Region, 2020-2030 (USD Billion)
1.2.2. Wellhead Equipment Market, by Component, 2020-2030 (USD Billion)
1.2.3. Wellhead Equipment Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Wellhead Equipment Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Wellhead Equipment Market Dynamics
3.1. Wellhead Equipment Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising oil exploration and drilling activities across globe Growing global energy demand. Rising government investment
3.1.2. Market Challenges High cost of wellhead equipment
3.1.3. Market Opportunities Technological developments in wellhead system Rise in redevelopment of mature oil wells
Chapter 4. Global Wellhead Equipment Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Wellhead Equipment Market, by Component
5.1. Market Snapshot
5.2. Global Wellhead Equipment Market by Component, Performance – Potential Analysis
5.3. Global Wellhead Equipment Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
5.4. Wellhead Equipment Market, Sub Segment Analysis
5.4.1. Hangers
5.4.2. Flanges
5.4.3. Master valve
5.4.4. Choke
5.4.5. Others
Chapter 6. Global Wellhead Equipment Market, by Application
6.1. Market Snapshot
6.2. Global Wellhead Equipment Market by Application, Performance – Potential Analysis
6.3. Global Wellhead Equipment Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Wellhead Equipment Market, Sub Segment Analysis
6.4.1. Onshore
6.4.2. Offshore
Chapter 7. Global Wellhead Equipment Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Wellhead Equipment Market, Regional Market Snapshot
7.4. North America Wellhead Equipment Market
7.4.1. U.S. Wellhead Equipment Market Component breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Wellhead Equipment Market
7.5. Europe Wellhead Equipment Market Snapshot
7.5.1. U.K. Wellhead Equipment Market
7.5.2. Germany Wellhead Equipment Market
7.5.3. France Wellhead Equipment Market
7.5.4. Spain Wellhead Equipment Market
7.5.5. Italy Wellhead Equipment Market
7.5.6. Rest of Europe Wellhead Equipment Market
7.6. Asia-Pacific Wellhead Equipment Market Snapshot
7.6.1. China Wellhead Equipment Market
7.6.2. India Wellhead Equipment Market
7.6.3. Japan Wellhead Equipment Market
7.6.4. Australia Wellhead Equipment Market
7.6.5. South Korea Wellhead Equipment Market
7.6.6. Rest of Asia Pacific Wellhead Equipment Market
7.7. Latin America Wellhead Equipment Market Snapshot
7.7.1. Brazil Wellhead Equipment Market
7.7.2. Mexico Wellhead Equipment Market
7.8. Middle East & Africa Wellhead Equipment Market
7.8.1. Saudi Arabia Wellhead Equipment Market
7.8.2. South Africa Wellhead Equipment Market
7.8.3. Rest of Middle East & Africa Wellhead Equipment Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Baker Hughes Company Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. Weatherford International PLC
8.3.3. TechnipFMC PLC
8.3.4. Schlumberger Limited
8.3.5. NOV Inc.
8.3.6. Weir Group PLC
8.3.7. Oil States International Inc.
8.3.8. Forum Energy Technologies Inc.
8.3.9. Great Lakes Wellhead Inc.
8.3.10. Cactus Wellhead LLC
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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