Oilfield Casing Spools Market Research Report - Global Forecast till 2027

Oilfield Casing Spools Market Research Report: Information by Type (Stainless Steel and Low Alloy Steel), by Casing Size (8” to 10”, 10.1” to 12”, 12.1” to 15”, 15.1” to 18” and Above 18”), by Working Pressure (Below 2000 PSI, 2001 PSI to 3000 PSI, 3001 PSI to 5000 PSI and Above 5000 PSI), Flange Pressure (11” to 13”, 13.1” to 15”, 15.1” to 18” and Above 18”) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2027

ID: MRFR/E&P/8619-HCR | February 2021 | Region: Global | 111 pages

Oilfield Casing Spools Market Scenario


Oilfield Casing Spools Market is projected to grow at a CAGR of XX% during the forecast period.


The major factors driving the growth of the global oilfield casing spools market are rising dependency on pressure pumping solutions and significant growth in the oil and gas industry in developing countries. Moreover, increasing mining activities is also likely to boost the market as drilling is an integral part of mining, of which casing spool is a part. The governments of various countries are participating in the reformation of mining taxation to attract foreign players and invest in their respective countries. For instance, the government in the US, Canada, and Australia have successfully introduced tax policies to attract foreign players in mineral exploration. These initiatives include concession and incentives to undertake exploration, which ultimately forms a competitive framework. Similar trends will promote the global oilfield casing spools market during the forecast period. However, risks associated with explosive decompression damage and fluid swell of the casing spools during use can restrict the growth of the global oilfield casing spools market.


Key Players


The key players operating in the global Oilfield casing spools market are Baker Hughes, a GE Co. LLC (US), Delta US Corp. LLC (US), Jiangsu HongFei Petroleum Machinery Manufacturing Co. Ltd (China), Schlumberger Ltd. (US), Sentry Wellhead Systems LLC (US), Shaanxi FYPE Rigid Machinery Co. Ltd (China), The Weir Group Plc (UK), Uztel SA (Romania), Worldwide Oilfield Machine Inc. (US), Yantai Jereh Oilfield, Services Group Co. Ltd. (China), and Jereh Group (China).


Many major players such as Baker Hughes (US), Delta US Corp. LLC (US), Schlumberger Ltd (US), and The Weir Group Plc (UK) are actively focusing on signing contracts and agreements with various marine companies. For instance, in August 2018, Baker Hughes entered into a contract for developing Mangala, Bhagyam, and Aishwarya (MBA) fields in Rajasthan operated by Vedanta’s oil and gas subsidiary, Cairn Oil & Gas. The contract included the provision of integrated oilfield service and equipment, of which casing spool is a part. This contract has helped the company to strengthen its footprint in the Asia-Pacific market. Such developments in the market are expected to drive the growth of the global oilfield casing spools market during the forecast period.


The global oilfield casing spools market has been segmented based on type, casing size, working pressure, and flange pressure. Based on type, the global market is divided into stainless steel and low alloy steel. The stainless steel segment is expected to hold a larger share of the market and grow at a faster rate during the forecast period owing to its various advantages, including corrosion-resistant alloy ring grooves, which generally are provided with studded end connection. All these factors would result in a higher share of the stainless steel segment.


Market Segmentation


Oilfield Casing Spools Market


The global oilfield casing spools market is expected to rate high growth during the forecast period owing to the increasing investments in upstream oil and gas operations. This is expected to drive the demand for oilfield casing spools during the forecast period.


Oilfield casing spools are wellhead components, which are used in flanged wellhead assemblies to secure the upper end of the casing string. These components are generally furnished with studded outlets and threaded outlets. These spools are deployed to perform multiple tasks, such as they act as outlets for fluid returns, retaining the bowl protector, testing blowout preventers (BOPs) while drilling, and pressure-testing casing seals through a test port. Casing spools are available in a wide range of sizes and pressure ratings and are selected to suit the specific conditions.


Based on region, the global oilfield casing spools market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. North America holds the largest share of the oilfield casing spools market due to the rapid growth in the mining and oil and gas sector. Moreover, according to the US Energy Information Administration (EIA), in 2018, approximately 6.44 million bpd of crude oil was produced from tight oil resources in the US. The increase in the extraction and production of oil and gas surges the demand for drilling activities, which will ultimately enhance the market for oilfield casing spools as it is an integral part of drilling activities. All these factors will drive the demand for oilfield casing spools in the region.


Intended Audience



  • Government and research organization

  • Consulting companies in the oil & gas industry

  • Research consultants

  • Investors and shareholders



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   Substantial CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Casing Size, Working Pressure and Flange Pressure
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Baker Hughes, a GE Co. LLC (US), Delta US Corp. LLC (US), Jiangsu HongFei Petroleum Machinery Manufacturing Co. Ltd (China), Schlumberger Ltd. (US), Sentry Wellhead Systems LLC (US), Shaanxi FYPE Rigid Machinery Co. Ltd (China), The Weir Group Plc (UK), Uztel SA (Romania), Worldwide Oilfield Machine Inc. (US), Yantai Jereh Oilfield, Services Group Co. Ltd. (China), and Jereh Group (China).
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers   Increasing oil and gas exploration


Frequently Asked Questions (FAQ) :


It is an essential equipment used for drilling process.

North America will lead the global oilfield casing spools market.

Low alloy steel and stainless steel are the different types of oilfield casing pool.

Increasing oil and gas exploration is driving the oilfield casing pool market.

Key contenders profiled in the global oilfield casing pool market include Baker Hughes, a GE Co. LLC (US), Schlumberger Ltd (US), Delta US Corp. LLC (US), Sentry Wellhead Systems LLC (US), Shaanxi FYPE Rigid Machinery Co. Ltd (China), The Weir Group Plc (UK), Uztel SA (Romania), Worldwide Oilfield Machine Inc. (US), Jiangsu HongFei Petroleum Machinery Manufacturing Co. Ltd (China), Yantai Jereh Oilfield, Services Group Co. Ltd. (China), and Jereh Group (China).