Landing String Equipment Market Analysis:
Landing String Equipment Market is expected to be valued at USD 384.95 Million, with a CAGR of 6.51% Forecast by 2027.
Landing string equipment are a combination of systemsthat are installed between the tubing hanger and the first riser point. The landing string system generally contains equipment such as a subsea test tree, lubricator valve, and retainer valve. Moreover, landing new and advanced string equipment are used owing to their compatibility with conventional drill pipe handling systems. This system enables higher running speeds as compared to alternative landing methods. On the other hand, traditional drill strings focus primarily on the ability to transfer drilling torque.
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In 2020, the deepwatersegment held the largest market share: MRFR
Based onapplication, the global landing string equipmentmarket has been dividedintodeepwater, ultra-deepwater, shallow water, and others. The deepwater segment is expected to hold the largest share in the global market during the forecast period due to an increase in deep-sea mining to meet the energy requirement across the globe. Moreover, deepwater is one of the major application areas for landing string equipment as many companies across the world are focusing on reviving the pending projects of deepwater. Additionally, deepwater offshore application accounts for asignificant share of the operated production of various companies and is a strategic and fast-growing segment for some major companies, including TotalEnergies.
Based on region, the landing string equipmentmarket has been segmented into Asia-Pacific, North America, Europe, the Middle EastAfrica, and South America. North America accounts for the largest share of the landing string equipment market due to increasing offshore drilling projects and subsea processing. Such investments would accelerate the growth of landing string equipment in this region.
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global landing string equipmentmarket, including high-growth regions and/or countries and political and economic environments. The project report further provides both historical market values and pricing and cost analysis.
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The key players operating in the global landing string equipmentmarket are Expro Holdings UK 2 Ltd., National Oilwell Varco Inc., Superior Energy Services Inc., Vallourec SA, Yantai Enerserva Machinery Co. Ltd., Enovate Systems Ltd., Expro Group, Quail Tools, Schlumberger Ltd., Superior Energy Services, Inc., Thyssenkrupp AG, Technip FMC, and Interventek Subsea Engineering.