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The global tubing spools market size reached US$ 571.8 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 787.5 Million by 2027, exhibiting a growth rate (CAGR) of 5.39% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
A tubing spool is a tool made using different metals, including carbon steel, stainless steel, and high manganese steel, for carrying out operations safely and smoothly. It comprises a test port, upper bowl, load shoulder, secondary seal area, lockdown screw, outlet, lower and upper flanges, and ring gasket groove. It accommodates a wide range of tubing-string sizes for single- and multiple-string completion programs at minimum expenditure. Besides this, as it supports the tubing string on an oil well to connect with a tubing adapter on the top and helps seal the annular space between the casing and tubing, its sales are increasing around the world.
There is currently a surge in the demand for energy worldwide on account of rapid urbanization, rising global population and the growing dependence on electronics. As a result, governing agencies of numerous countries are increasingly investing in drilling and exploration activities. This represents one of the key factors contributing to the growth of the tubing spools market. Besides this, the rising redevelopment of mature oil wells is also driving the overall sales. Moreover, leading players are introducing durable and efficient tubing spools to expand their market share. For instance, Integrated Equipment, Inc. launched an extensive range of these spools with a straight bowl profile. Similarly, development of cloud-based visualization systems for oil and gas operators has increased the demand for tubing spools. Apart from this, market players are engaging in mergers and acquisition (M&A) activities to retain a competitive edge in the market. Furthermore, the growing utilization of pipe and fittings in the chemical sector is expected to create a lucrative market outlook.
IMARC Group provides an analysis of the key trends in each sub-segment of the global tubing spools market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, application and end user.
Breakup by Type:
Breakup by Application:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Delta US Corporation LLC, Ethos Energy Group Limited (John Wood Group plc), Integrated Equipment, Inc, Jiangsu Sanyi Petroleum Equipment Co. Ltd., JMP Petroleum Technologies Inc., MSP Drilex Inc., Sunnda Corporation, TSC Group Holdings Limited, Uztel S.A., Weir Group plc and Yantai Jereh Oilfield Services Group Co. Ltd.
|Base Year of the Analysis||2021|
|Segment Coverage||Type, Application, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Delta US Corporation LLC, Ethos Energy Group Limited (John Wood Group plc), Integrated Equipment, Inc, Jiangsu Sanyi Petroleum Equipment Co. Ltd., JMP Petroleum Technologies Inc., MSP Drilex Inc., Sunnda Corporation, TSC Group Holdings Limited, Uztel S.A., Weir Group plc and Yantai Jereh Oilfield Services Group Co. Ltd.|
|Customization Scope||10% Free Customization|
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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