Global Landing String Equipment Market 2019-2023 | Rising Advances in Landing String Control Systems to Boost Growth | Technavio

Technavio has announced its latest market research report titled global landing string equipment market 2019-2023. (Graphic: Business Wire)

LONDON--()--The global landing string equipment market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

With the recovery of crude oil prices, the number of active offshore rigs has increased considerably over the recent years. This has led to a rise in the number of wells being drilled in offshore well sites, which has created a strong demand for landing strings. In addition, increasing investments in oil and gas production has led to a rise in the number of offshore drilling projects. These factors are expected to fuel the growth of the global landing string equipment market during the forecast period.

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As per Technavio, rising advances in landing string control systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Landing String Equipment Market: Rising Advances in Landing String Control Systems

Current generation landing strings are large, which makes it difficult in moving them around the rig. To overcome such drawbacks, vendors are introducing new generation landing strings with a much smaller footprint compared to current control systems. Newer landing systems also help reduce operational expenditure through minimized rig up times, logistics, deck space, personnel onboard requirements, and ancillary support equipment. Such advances in landing string control systems are expected to foster market growth during the forecast period.

“Apart from the advances in landing string control systems, growing advances in subsea processing and declining costs of offshore drilling projects are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.

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Global Landing String Equipment Market: Segmentation Analysis

This market report segments the global landing string equipment market by application (deepwater, ultra-deepwater, and shallow water) and geography (APAC, Europe, MEA, North America, and South America).

The APAC region led the market in 2018, followed by MEA, Europe, North America, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the growth in the number of offshore oil and gas exploration projects in the region.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com/

Release Summary

The global landing string equipment market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com/