A nexus of technologies are involved in the production of produce hydrocarbons to meet the rising global energy demand. The Oil and gas industry has to take utmost care of its operations because if a single operation goes wrong, huge revenue losses take place. To take care of the efficiency of one very important operation, casing centralizer is used. This mechanical device secures the casing from contacting the wellbore walls and improves the efficiency of the cementing process.
The most common types of casing centralizers used in the industry are:
- Bow Spring Centralizers
- Rigid Centralizers
- Semi-Rigid Centralizers
- Mold on Centralizers
The demand for casing centralizer has increased over a period of time. It is estimated that 10 million centralizers are manufactured and used every year globally. Let us look into the market of these devices to analyse its future outlook.
Future Outlook of Centralizers
The surge in the demand for crude and growing oil and gas operations have been the primary drivers of the casing centralizers’ market. And according to the ongoing trend, low friction composite centralizers are getting adopted more in the market. This is expected to drive the casing centralizer market in the near future.
The crude oil prices have always impacted the new oil and gas drilling operations. Presently, the international crude market is on a continuous rise, which makes the upstream oil and gas process industries to regularly change the production and operations frequency. This has led to time to time requirements of installation and replacement of casing centralizers.
The oil and gas companies have been drilling deep in the Middle East and American oil and gas reserves. This is also one of the factors, apart from well integrity, which has resulted in the increased need for robust casing centralizer. Analysts expect a substantial rise in brownfield and greenfield projects related to upstream oil and gas operations in the next 4-5 years. With this, the adoption of casing centralizer is also expected to increase.
Next important factor that has the potential to improve the market growth of casing centralizer is shale gas production. With the increase in the production of shale gas in countries like China, Canada, Argentina and the US, analysts expect a substantial rise in the market opportunities for the sales of the casing. Developing countries in Asia and Africa are expected to show a higher growth rate for the global casing centralizer market as compared to the other regions.
And lastly, the market of casing centralizer very much depends upon the growing production operations in economies like the US, Russia, Saudi Arabia, China, Indonesia, Thailand, Morocco, Norway, and other Middle-East and African countries.
Valued at $395.34 million in 2017, the global Casing Centralizer market is expected to touch $670.10 million by the end of 2025. The CAGR of the growth will be of 6.82% during 2018-2025.
Top Manufacturers of Centralizers
Sledgehammer Oil Tools
Established in 1994, Sledgehammer is a leading manufacturer of centralizer. It is the only company in Asia which has the manufacturing facility of Bow Spring Centralizer and Solid Body Centralizer and Float Equipment. It has a diverse clientele in both offshore and onshore drilling locations. It has been a reliable manufacturer of the equipment since the beginning and has been able to easily gain the trust of the industry.
Summit Casing Equipment
Texas-based Summit Casing is a manufactures its own line of solid body centralizers, bow spring centralizers, composite centralizers, and float equipment. The company provides innovative solutions to the customers and helps them overcome prolonging casing challenges.
Centek provides engineering solutions for the toughest casing running environments. It manufactures a range of bow spring centralizers which aid pipe rotation and give maximum pipe centralization. All its range are designed to be compressed virtually flat and later return to its actual diameter.
More business opportunities for Casing Centralizer Companies
With the oil and gas industry moving towards digitalization, the casing centralizer companies need a digital platform like Energy Dais to enhance their reach and strengthen their clientele. With changing times, platforms like these are becoming an urgent requirement for the companies in order to survive in the long run.