Research Report: By Equipment (Centralizers, Float Equipment), Application (Onshore, Offshore), Regional Insight (U. S. , Canada, Norway, U. K. , Russia, China, India, Indonesia, Malaysia, Mexico, Brazil, Venezuela, Saudi Arabia, U.

New York, Oct. 24, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Centralizers and Float Equipment Market" - https://www.reportlinker.com/p05815889/?utm_source=GNW
A.E., Kuwait, Nigeria, Algeria, Angola) - Global Industry Analysis and Growth Forecast to 2024

The rising demand for oil & gas and increasing discovery of reserves are positively impacting the centralizers and float equipment market. It valued $991.6 million in 2018 and is expected to reach $1,439.3 million by 2024 at a 6.3% CAGR during the forecast period (2019–2024). Float equipment reduces the strain on derrick and provides a landing platform for backpressure valve and bottom and top cementing plugs to prevent the cement from flowing back into the well. A centralizer is used to maintain the cement sheath uniformity around the pipe determines.

The centralizers and float equipment market is being positively impacted by the growing oil and gas demand across the world. The fact that these are the primary sources of energy in many countries and the improving world economy have contributed in the increasing demand for these. While gas serves as the primary fuel source for domestic purposes, it, along with oil, is also used in electricity generation and transportation. China and India, which have large populations, are among the biggest consumers of oil & gas, thereby resulting in high centralizer and float equipment sales.

Another major factor contributing to the growth of the centralizers and float equipment market is the discovery of new gas & oil reserves. Investments in exploration and production (E&P) activities by many government and private entities are being increased to identify profitable reserves, as the demand for fuel in emerging economies, such as Brazil, India, and China, continues to grow. For instance, several oil reserves were discovered in the Sakakemang Block in southern Sumatra, Permian Basin in the U.S., Arctic region, and Glengorm in the U.K., in 2018.

The segments of the centralizers and float equipment market are region, equipment, and application. The application segment of the market is bifurcated into offshore and onshore. During the historical period (2014–2018), the larger market revenue share of about 80.0% was held by the onshore application due to the increasing E&P activities at the onshore sites. In the forecast period, the onshore application is expected to remain the highest revenue contributor to the market, owing to the increasing demand for oil & gas and rising E&P activities.

Market Segmentation by Equipment
Centralizers
Bow-spring
Non-welded
Hinged welded
One-piece
Slip on
Rigid
Semi-rigid
Mold-on
Float Equipment
Float collar
Float shoe
Guide shoe
Plugs
Top
Bottom
Others

Market Segmentation by Application
Onshore
Offshore

Market Segmentation by Geography
North America Centralizers and Float Equipment Market
By equipment
By application
By country – U.S. and Canada
Europe Centralizers and Float Equipment Market
By equipment
By application
By country – Norway, U.K., Russia, and Rest of Europe
Asia-Pacific (APAC) Centralizers and Float Equipment Market
By equipment
By application
By country – China, India, Indonesia, Malaysia, and Rest of APAC
Latin America (LATAM) Centralizers and Float Equipment Market
By equipment
By application
By country – Mexico, Brazil, Venezuela, and Rest of LATAM
Middle East and Africa (MEA) Centralizers and Float Equipment Market
By equipment
By application
By country – Saudi Arabia, U.A.E., Kuwait, Nigeria, Algeria, Angola, and Rest of MEA
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