Transparency Market Research

Packer Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2014 - 2020

Transparency Market Research (http://www.transparencymarketresearch.com) includes new market research report "Packer Market" to its huge collection of research reports.

 

Albany, NY -- (SBWIRE) -- 11/19/2014 -- Increasing drilling activities due to the increased investments in oil and gas exploration and production activities is accelerating the drilling market. This will ultimately increase the demand of packers. The market is expected to grow during the forecast period as the drilling activities are expected to increase across the globe. Oil and gas exploration and production companies are investing heavily to explore and drill offshore deep water and ultra deep water reserves that are unexplored. Depleting onshore reserves and attractive rate of returns from abundant offshore deep water reserves has shifted the focus of exploration companies from onshore to offshore reserves.

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A sealing device that contains and isolates production fluids and pressure within the desired wellbore area is called a packer. It is an important device for oil and gas industry. It protects the casing and other formations below and above the production zone. Some of the other benefits of packer include improving production and well flow rate, prevent down hole movement of tubing string, support some weight of tubing, prevent the annular casing from high pressure, production fluids and corrosion, helps in separation of multi production zone, limits well control to the tubing at the surface. A packer consists of a mandrel, packing element system, slip and cone. The body of a packer is known as a mandrel. Slip is used to grip the casing wall with its wickers when the packer is set. The packing element system creates a seal between the packer body and the inside diameter of the casing.

On the basis of type, the packers market can be segmented into retrievable packers and permanent packers. The permanent packers can be further divided into tension packer, compression packer, hydraulic set single string packer, sealbore packer, etc. The retrievable packers can be resettled from the wellbore. They do not require milling to remove them. However permanent packers can only be removed from the well bore by milling. Packer milling and a retrievable tools are required to mill and retrieve production packers. Permanent packers consist of a mill body and a replaceable mill.

Permanent packers perform extremely well in both high pressure and temperature than retrievable packer. It has a smaller outer diameter that offers more running clearance than retrievable packers. Large inside diameter of permanent packers make them compatible with large outer diameter tubing strings. A retrievable packer costs more than a permanent packer but its certain advantages such as resettability and reusability overshadow the added cost.

The packers market is driven by the increasing number of production wells resulted from huge investment in oil exploration and production activities. In North America, shale gas production has resulted in drilling large number of wells and much more wells are anticipated to be drilled during the forecast period to meet increasing energy demand. Abundant shale gas reserves and deep end ultra deep water oil and gas reserves provide a huge opportunity to the packers market.

Some of the key players in the packers market include Baker Hughes Incorporated, TEAM Oil Tools LP, Interwell Norway, Halliburton, Aavolyn Corp., Seals Eastern Inc., World Oil Tools Inc., RedSeal Packer Limited, Inflatable Packers International, LLC SPF "Master Packer", Packers Plus Energy Services Inc. and Weatherford International among others.

This research report analyzes this market on the basis of its market segments, major geographies, and current market trends.

Geographies analyzed under this research report include:

- North America
- Asia Pacific
- Europe
- Rest of the World

This report provides comprehensive analysis of:

- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years

This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

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