Global Casing Connectors Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Casing Connectors Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Connector is a general term for tubular connection which is welded on the butt-end of the pipe. Casing Connectors can be used as an alternative to the conventional weld-on. Casing Connectors can be divided into Integral connection and Threaded and coupled connection. This report studies the global Casing Connectors market.

Market Overview:

The latest research study on the global Casing Connectors market finds that the global Casing Connectors market reached a value of USD 748.16 million in 2022. It’s expected that the market will achieve USD 1008.32 million by 2028, exhibiting a CAGR of 5.1% during the forecast period.

Casing Connectors Market Challenges

The outbreak and persistence of the COVID-19 epidemic will undoubtedly have a severe impact on the global oil industry in 2020. The sharp drop and rebound of oil demand have caused drastic fluctuations in global oil product inventories and oil prices.
The International Energy Agency warned that the impact of the epidemic on the energy system will continue for many years. This year, global oil demand will drop by 8%, and Brent oil prices will not reach the level of US$ 50 per barrel until 2023. If the policies and goals of various countries are implemented smoothly, global energy demand will also return to pre-epidemic levels in early 2023. If the epidemic prolongs and the decline deepens, this point will be postponed to 2025.
The oil and gas industry is one of the main downstream applications of Casing Connectors. With the outbreak of the epidemic, the oil industry fluctuates sharply, the demand side and the supply side will be more cautious, and related investments have decreased, which will increase the risk of future market fluctuations. Affected by this, the Casing Connectors market will also fluctuate, and market investment needs to be more cautious.
In order to curb the COVID-19 epidemic, most countries have introduced many policies, including border blockade and social distancing. The epidemic prevention and control measures will affect the flow of people and activities, and in turn affect logistics, making the production of manufacturing, especially labor-intensive industries, affected by the supply of raw materials and labor shortages.
For the Casing Connectors industry, the blockade policy will affect the supply of raw materials and export trade of products. The social distancing policy may have a great impact on the production of products, especially for some small factories, they will spend more money to maintain production during the epidemic, and factories may face the risk of closure in some areas.
But in the long term, the COVID-19 outbreak may cause more factories to start using more automated production lines to avoid the pandemic's impact on the industry. In addition, the application of IoT technology may also bring more opportunities for industry participants.

Region Overview:

From 2023-2028, Europe is estimated to witness robust growth prospects.

Company Overview:

VAM is one of the major players operating in the Casing Connectors market, holding a share of 19.92% in 2021.

VAM® became the leader in premium connections worldwide since inception in 1960 and remains today at the foremost edge of technological advances with a global presence in all major oil and gas fields worldwide. Vallourec is VAM’s Parent Companies.

Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec’s pioneering spirit and cutting-edge R&D open new technological frontiers. Operating in more than 20 countries, its 20,000 dedicated and passionate people work hand-in-hand with their customers to offer more than just tubes: they deliver innovative, safe, competitive and smart tubular solutions, to make every project possible.

Tenaris is a leading supplier of tubes and related services for the world’s energy industry and certain other industrial applications. Its customers include most of the world’s leading oil and gas companies as well as engineering companies engaged in constructing oil and gas gathering, transportation and processing facilities. Its principal products include casing, tubing, line pipe, and mechanical and structural pipes.

Segmentation Overview:

Among different product types, Threaded and coupled connection segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Onshore segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Casing Connectors market covered in Chapter 3:

TPS-Technitube Röhrenwerke GmbH
Baker Hughes
Schlumberger
Dril-Quip
NOV
Tenaris
OMS Oilfield Services Pte Ltd
Oil States Industries
Hunting Energy Services
VAM

In Chapter 4 and Chapter 14.2, on the basis of types, the Casing Connectors market from 2018 to 2029 is primarily split into:

Integral connection
Threaded and coupled connection

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Casing Connectors market from 2018 to 2029 covers:

Onshore
Offshore

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)