Packer are devices made up of elastomers. They have useful properties like high pressure sustainability, elasticity for bearing shear stress and high heat resistance. These are installed between casings, tubing and bore well walls to withstand external force and protect against vibrations during the drilling process.
Its use have significantly increased over the years as safety regulations for mining and extraction have been placed in various countries. Its very useful for a safer working environment in on shore exploration or drilling.
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Market key player:
Weatherford International Ltd., Baker Hughes Incorporated, Map Oil Tools Inc., Tryton Tool Services, Pinnacle Oil Tools Inc., Halliburton Company, Schlumberger Limited, TIW Corporation, Logan Completion Systems, KazDuCo LLP
The Packer market is segmented based upon product, application and region.
Based upon product, the global packer market is categorized as
Based upon application, the global packer market is categorized as
Based upon geography, the global packer market can be categorized as
- North America (USA, Canada)
- Europe (Germany, France, UK, Italy, Russia, Spain, Italy)
- Asia Pacific (China, India, Japan, Korea, Australia, New Zealand)
- Latin America (Mexico, Brazil, Argentina, Chile, Colombia, Peru)
North America is a major contributor to the global market of Packer. With major oil and gas consumption for commercial and industries, high industrial output and a global trade route drives the growth of the packer market in the region. Rapid increase in onshore extraction and increase in shale gas production are other major drivers for the growth of packer industry in the region.
Asia Pacific is another major market for offshore vessel. With greater focus on deep sea exploration, underwater oil and gas exploration and major trade activities in Pacific and Indian ocean, the region is expected to drive fastest growth for packer market over the years. Recent investment upon on shore exploration by countries such as China an India are major scope for market growth.
Future growth will be mostly driven by E&P in the shale gas reserves in Asia Pacific, for example – China is predicted to drive the growth in the region over the forecast period. Countries like Brazil, China are the future market drivers in the packers market.
Europe and middle east are other key regions for the market of offshore vessels. The focus on exploration of deep water and oil and gas production are driving factors in the region.
Rising safety concerns and increase in fastening material in oil & gas industry is predicted to be future market drivers for the global packer market growth over the forecast period. Growth of oil & gas extraction globally is expected to bolster the growth in the market. Casings and tubing’s are deployed in well bore for efficiency in fluid extraction. These are used for controlling the well pressure, supporting bore wall and restricting contamination of water along the wellbore.
The increase in extraction specially along the unconventional locations are major market drivers. Adverse topographical factors accentuates a safety protocol for drilling and is a major driving force for the expansion of packer industry.
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