Global Landing String Equipment Market Size By Application (Deep Water, Shallow Water, Ultra-Deep Water), By Competitive Landscape, By Geographic Scope And Forecast

Landing String Equipment Market Size And Forecast

Landing String Equipment Market size was valued at USD 215.39 Million in 2024 and is projected to reach USD 485.74 Million by 2031, growing at a CAGR of 10.70% from 2024 to 2031.

Owing to escalating activities in ultra-deepwater and deep-water E & P, the Global Landing String Equipment Market is expected to register substantial gains. Additionally, increasing demand for natural gas and oil is further expected to foster the growth of the Global Landing String Equipment Market. The Global Landing String Equipment Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Landing String Equipment Market Definition

The landing strings are designed to provide enhanced and improved tensile strength, improved higher slip-crushing resistance, and elevator capacity to allow running and landing casing and various other heavy-duty equipment on offshore wells, especially in deep water. Landing strings are similar to drill pipes with higher wall thickness and use a high-strength pipe. Landing strings are gaining popularity owing to their high compatibility with traditional drill pipe handling systems. Also, such a system enables higher running speed as compared to any other landing method.

As the weight goes up, you might find the string's load capacity is limited by whether it can even fit in the elevator. Plus, it's got some nice perks like boosting fatigue life, stopping slip crushing, helping those slips really grip, keeping the pipe from bending in the rotary table, and avoiding washouts caused by slip damage. The landing string itself? It's basically a tube filled with oil. Or, you could swap out those tubes for casing. The whole point of the landing string is to keep those pressurized fluids safely contained between the subsea well and the surface tree way up on the drill floor.

The landing string should be suitable enough to fit within the internal profile of the marine riser and BOP stack.  This is one of the major external requirements of landing strings. Additionally, to fulfill the internal requirements, the landing string should carry a minimum bore to permit the passage of tree equipment and wireline tools. The material using which the landing strings are connected should be suitable enough to bear the heavy-duty load, and also should be non-reactive towards the fluids it may come in contact with.

Plastic coating within the tubes or cases of the landing string should be carefully examined and evaluated. Serious attention should be paid to minimize corrosion. Any corrosion-related issues developing from landing strings can hinder the completion of work. The structural integrity of the landing strings should be such that they shouldn’t fail while being tested in normal, and even contingency conditions.

Global Landing String Equipment Market Overview

Hey, guess what's fueling the Global Landing String Equipment Market? It's the boom in offshore rigs all over the world! And with crude oil prices bouncing back so fast, oil and gas companies are feeling good and pouring money into new drilling projects. That's a big plus for the market, too! More offshore rig action means more wells being drilled, which just makes the market grow even more. Plus, landing string control systems are getting way more advanced, which is just adding fuel to the fire for the Global Landing String Equipment Market.

Furthermore, technological advancements being made in landing string control systems due to the rising need for optimizing the use of landing string in subsea wells is adding significant traction to the growth of the global market. Another factor that is anticipated to stimulate the market growth is vendors developing landing string control systems to offer optimized well control in tandem with enabling quick sealing and shutting of subsea wells during rough weather conditions.  Such advancements being made in landing string control systems are poised to propel the demand for the market.

With all the action happening way out in ultra-deep and deep water for oil and gas exploration & production (E&P), the Global Landing String Equipment Market is looking at some serious growth. Plus, our need for natural gas and oil keeps climbing, which should really boost the market even more. We're also seeing some cool advancements in subsea processing, which will likely help optimize and modify the existing systems, further fueling market expansion. But, there's a catchwith crude oil prices being so unpredictable, more people are turning to renewable energy. This could potentially slow down the oil & gas industry, which wouldn't be great for offshore drilling and subsea processing.

This, in turn, is predicted to slow down the growth of the market. Additionally, governments of various countries have implemented nationwide lockdowns, to curb the spread of the COVID-19 which has disrupted oil & gas projects. Hence, the pandemic has already negatively affected the supply of Landing String Equipment, which is expected to hamper the growth of the Global Landing String Equipment Market.

Global Landing String Equipment Market Segmentation Analysis

The Global Landing String Equipment Market is segmented based on Application and Geography.

Landing String Equipment Market, By Application

• Deep Water
• Shallow Water
• Ultra-Deep Water

Based on Application, the market is segmented into Deep Water, Shallow Water, and Ultra-Deep Water. Among all the listed segments, the deep-water segment is expected to record the fastest growth rate. It has been noticed that there is a massive upsurge in the demand for energy, globally. Hence, to match the surging energy demands, the deep-sea mining activities are expected to be intensified, in turn, bolstering the segment growth.

Landing String Equipment Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, the Global Landing String Equipment Market is classified into North America, Asia Pacific, Europe, and the Rest of the World. Among these, North America is expected to grow at a rapid rate owing to intensifying offshore drilling activities. Also, increasing subsea processing is likely to spur the growth of the Global Landing String Equipment Market in North America. However, Asia-Pacific has also expected to record notable gains due to an upsurge in oil & gas projects investment.

Key Players

The “Global Landing String Equipment Market” study report will provide valuable insight with an emphasis on the global market. The key players operating in the global Landing String Equipment Market are Enovate Systems Ltd., NOV Inc., Expro Group, Schlumberger Ltd., Quail Tools, Thyssenkrupp AG, Superior Energy Services, Inc., Yantai Enerserva Machinery Co. Ltd., WellPartner AS, and Vallourec SA.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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