Liner Hanger Market Report and Forecast 2024-2032

Market Outlook

According to this report, the global liner hanger market size reached a value of USD 90.1 billion in 2023. Aided by the rising investments in offshore exploration and production activities owing to the increasing demand for natural gas and oil, the market is projected to further grow at a CAGR of 4.9% between 2024 and 2032 to reach a value of USD 140.2 billion by 2032.

Liner hangers are critical components in the oil and gas industry, used during the well completion process to support and secure the liner to the casing. These systems are designed to provide reliable and efficient sealing and are essential in maintaining the structural integrity of wells. Liner hangers are deployed in both onshore and offshore drilling operations, facilitating effective production and ensuring the longevity of wells.

The booming oil and gas sector, particularly with the resurgence of exploration and production activities, is driving the liner hanger market growth. With the increasing demand for energy and the rising investments in drilling operations, there is a heightened need for reliable well completion solutions, subsequently propelling the demand for liner hangers. Moreover, the advancements in drilling technologies and the shift towards unconventional resources, such as shale gas and tight oil, are further augmenting the market growth.

The expanding applications of liner hangers in various segments of the oil and gas industry also play a significant role in propelling the liner hanger market expansion. Liner hangers are used in horizontal, deviated, and deepwater wells, providing enhanced efficiency and operational performance. The increasing focus on maximizing oil recovery and improving well productivity is driving the demand for advanced liner hanger systems.

Additionally, the rising trend of offshore drilling activities, driven by the discovery of new offshore reserves and the increasing investments in deepwater exploration, is contributing to the market growth. Offshore drilling operations require robust and reliable well completion solutions, leading to a surge in demand for liner hangers. Furthermore, the growing adoption of liner hangers in high-pressure and high-temperature (HPHT) wells is further bolstering the market growth.

The oil and gas industry's emphasis on operational efficiency and cost-effectiveness is also increasing the liner hanger market share. Liner hangers provide significant cost savings by reducing the time and resources required for well completion. The increasing focus on minimizing operational risks and enhancing safety is further propelling the demand for reliable liner hanger systems.

Moreover, the growing environmental concerns and the stringent regulations regarding drilling operations are influencing the liner hanger market dynamics. The increasing adoption of environmentally friendly and sustainable drilling practices is driving the demand for advanced liner hanger systems that comply with regulatory standards. The shift towards green and sustainable energy solutions is also creating growth opportunities for market players.

As per the global liner hanger market analysis, the oil and gas industry's resurgence, particularly in exploration and production activities, is a significant driver of the market. The increasing demand for energy and the rising investments in drilling operations are propelling the need for reliable well completion solutions, subsequently boosting the demand for liner hangers. Technological advancements in drilling techniques and the shift towards unconventional resources, such as shale gas and tight oil, are augmenting the market growth. The development of advanced liner hanger systems that enhance operational efficiency and well productivity is driving the market.

Market Segmentation

The market can be divided based on type, well type, location, and region.

Market Breakup by Type

• Conventional Liner Hangers
• Mechanical Liner Hangers
• Hydraulic Liner Hangers
• Expandable Liner Hangers

Market Breakup by Well Type

• Horizontal/ Directional
• Vertical

Market Breakup by Location

• Onshore
• Offshore

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global liner hanger market. Some of the major players explored in the report are as follows:

• Baker Hughes Company
• Halliburton Company
• Schlumberger NV
• Nov Inc.
• Weatherford International plc
• Packers Plus Energy Services Inc.
• Innovex Downhole Solutions Inc.
• Dongying JC Petro
• Dril-Quip, Inc.
• NCS Multistage, LLC
• Others