The global tubing spools market size was valued at $490.5 million in 2018, and is projected to reach $725.8 million by 2026, registering a CAGR of 4.9% from 2019 to 2026.
The major market participants profiled in this report include Delta Corporation, EthosEnergy Group Limited, Integrated Equipment, Jereh Oilfield Equipment, Jiangsu Sanyi Petroleum Equipment Co., Ltd, JMP Petroleum Technologies, Inc., Msp/drilex, Inc., Uztel S.A, Sunnda Corporation, and Weir Group.
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The tubing spool refers to the part of wellhead system, which consist of two flange that provides support to the tubing string. It includes a tubing head that connects the Christmas tree with the upper casing head. In addition, it is used for sealing the annular space and hanging the tubing hanger. Its feature includes 45° landing shoulder, versatile straight-bore design, and flanged padded outlets. Moreover, it offers ancillary support to oil and gas production and exploration activities.
The growing oil & gas exploration activities by respective companies around the globe is expected to drive the global tubing spools market during the forecast period. In addition, increase in crude oil prices have positively impacted the market growth. However, the increase in raw material price is expected to hamper the market growth. Furthermore, the fresh investments in the oil and gas exploration, especially in the Middle Eastern countries fuels the demand for tubing spools.
The global tubing spools market is segmented based on type, application, and region. Based on type, the market is segmented into single tubing, and dual tubing. Based on application, the market is divided into onshore, and offshore Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The major players operating in the global market have adopted key strategies such as acquisitions and business expansion, to strengthen their market outreach and sustain the stiff competition in the market.
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KEY BENEFITS FOR STAKEHOLDERS
• The report provides an extensive analysis of the current and emerging tubing spools market trends and dynamics.
• In-depth tubing spools market analysis is conducted by constructing market estimations for the key market segments between 2018 and 2026.
• Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the tubing spools market framework.
• A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
• The global tubing spools market forecast analysis from 2018 to 2026 is included in the report.
• Key market players within tubing spools market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the tubing spools industry.
GLOBAL TUBING SPOOLS MARKET SEGMENTS
• Single tubing
• Dual tubing
North America(U.S., Canada, Mexico)
Asia-Pacific(China, India, Japan, Australia, South Korea, Rest of Asia-Pacific)
Europe(Germany, France, UK, Spain, Italy, Rest of Europe)
LAMEA(Middle East, Latin America, Africa)
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