Landing String: Introduction
- Landing strings are similar to heavy-wall drill pipes possessing high tensile strength, which are used against regular drill pipes. Landing strings are extensively employed for off shore wells in deep water, owing to their high tensile strength, which enables running and landing casing of other heavy equipment.
- Landing strings possess a higher wall thickness as compared to that possessed by other drill pipes, which provides high strength and more control in emergency situations at the time of drilling. Landing strings have gained popularity in the oil & gas exploration industry due to their compatibility with conventional drill pipe handling systems.
- A landing string comprises a subsea test tree, retainer valve, and lubricator valve
Key Drivers and Restraints of Global Landing String Equipment Market
- Demand for landing string equipment has been increasing owing to a rise in deep water drilling and an increase in the demand for oil & gas in order to cater to the demand for fuel. Furthermore, steady rise in offshore activities around the globe is anticipated to propel the global landing string equipment market.
- Increase in active offshore rigs has fueled the number of wells being drilled in offshore well sites, which in turn is anticipated to boost the global landing string equipment market between 2021 and 2031. Landing string offers various benefits such as high tensile strength and more control. This is also expected to drive global landing string equipment market in the near future.
- Expansion of the landing string equipment market can be ascribed to a rise in technological advancements in landing string control systems owing to optimize the use of landing strings in subsea wells. These advances in landing string control systems is expected to fuel the global landing string equipment market.
- Global landing string equipment market is expected to expand further due to a rise in advancements in subsea processing
- Increase in the demand for renewable energy resources due to high volatility in prices of crude oil has hampered the oil & gas industry resulting in a decline in offshore drilling and subsea processing activities. This, in turn, is projected to restraint the global landing string equipment market, as landing string equipment is utilized for offshore drilling.
COVID-19 Impact Analysis
- Governments of various countries have enforced nationwide lockdowns, as a precautionary measure to curb the spread of the COVID-19 pandemic. This has disrupted oil & gas projects, globally. The pandemic has negatively impacted the supply of landing string equipment in the market, which in turn is likely to hamper the global landing string equipment market.
Global Landing String Equipment Market: Key Segment
- The global landing string equipment market can be segmented based on application and region
- Based on application, the global landing string equipment can be divided into shallow water, deep water, and ultra-deep water. The deep water segment is estimated to expand at a rapid pace during the forecast period due to an increase in deep sea mining to meet the energy requirement across the globe.
Global Landing String Equipment Market: Regional Segment
- Based on region, the global landing string equipment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is anticipated to dominate the global landing string equipment market. The market in the region is estimated to expand at a rapid pace during the forecast period. The region has increasing offshore drilling projects as well as subsea processing.
- Latin America and Middle East hold a prominent share of the market due to increase in optimization of drilling activities for oil & gas exploration in these regions
- Asia Pacific is estimated to be a highly attractive region of the global landing string equipment market due to an increase in investment in oil & gas projects in growing economies such as India
- The landing string equipment market in Africa is estimated to expand at a sluggish pace due to a lack of resources and economic downturn witnessed by countries in Africa
Key Players in Market
Leading players operating in the global landing string equipment market include:
- Enovate Systems Ltd.
- Expro Group
- NOV Inc.
- Quail Tools
- Schlumberger Ltd.
- Superior Energy Services, Inc.
- thyssenkrupp AG
- Yantai Enerserva Machinery Co. Ltd.
Global Landing String Equipment Market: Research Scope
Global Landing String Equipment Market, by Application
- Ultra Deepwater
- Shallow water
Global Landing String Equipment Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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