MR Forecast provides premium market intelligence on deep technologies that can cause a high level of disruption in the market within the next few years. When it comes to doing market viability analyses for technologies at very early phases of development, MR Forecast is second to none. What sets us apart is our set of market estimates based on secondary research data, which in turn gets validated through primary research by key companies in the target market and other stakeholders. It only covers technologies pertaining to Healthcare, IT, big data analysis, block chain technology, Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), Energy & Power, Automobile, Agriculture, Electronics, Chemical & Materials, Machinery & Equipment's, Consumer Goods, and many others at MR Forecast. Market: The market section introduces the industry to readers, including an overview, business dynamics, competitive benchmarking, and firms' profiles. This enables readers to make decisions on market entry, expansion, and exit in certain nations, regions, or worldwide. Application: We give painstaking attention to the study of every product and technology, along with its use case and user categories, under our research solutions. From here on, the process delivers accurate market estimates and forecasts apart from the best and most meaningful insights.
Products generically come under this phrase and may imply any number of goods, components, materials, technology, or any combination thereof. Any business that wants to push an innovative agenda needs data on product definitions, pricing analysis, benchmarking and roadmaps on technology, demand analysis, and patents. Our research papers contain all that and much more in a depth that makes them incredibly actionable. Products broadly encompass a wide range of goods, components, materials, technologies, or any combination thereof. For businesses aiming to advance an innovative agenda, access to comprehensive data on product definitions, pricing analysis, benchmarking, technological roadmaps, demand analysis, and patents is essential. Our research papers provide in-depth insights into these areas and more, equipping organizations with actionable information that can drive strategic decision-making and enhance competitive positioning in the market.
Landing String Equipment Market by Application (Shallow, Deepwater, Ultra-Deepwater), by End-user (Oil & Gas Companies, Oilfield Service Companies, Research & Development Institutions), by By Application (Shallow and Deepwater, Ultra-Deepwater) Forecast 2026-2034
Landing String Equipment Market Market Size (In Million)
750.0M
600.0M
450.0M
300.0M
150.0M
0
500.0 M
2023
600.0 M
2024
700.0 M
2025
The global landing string equipment market is projected to grow from USD 311.6 million in 2025 to USD 555.8 million by 2033, at a CAGR of 6.5%. The market is driven by factors such as the increasing demand for offshore oil and gas exploration and production activities, the need for safe and efficient drilling operations, and the growing adoption of advanced technologies in the oil and gas industry. The shallow and deepwater segment is expected to dominate the market due to the increased focus on the development of offshore oil and gas reserves in these water depths.
Landing String Equipment Market Company Market Share
Loading chart...
Market Segmentation and Key Players
Based on application, the market is segmented into shallow water, deepwater, and ultra-deepwater. The deepwater segment is expected to grow at a faster CAGR during the forecast period due to the increasing exploration and development activities in deepwater environments. Based on end-user, the market is segmented into oil and gas companies, oilfield service companies, and research and development institutions. Key players operating in the landing string equipment market include Expro Group Holdings N.V., Nov, Inc., TechnipFMC plc, SLB, Aker Solutions, ExPert E&P Companies, LLC., Interventek Subsea Engineering, Hilong Holding Limited, Yantai Enerserva Machinery Co., Ltd., and Optime Subsea. These companies are investing in research and development to enhance their product offerings and meet the evolving demands of the market.
Landing String Equipment Market Trends
The global landing string equipment market is projected to grow from USD 550 million in 2023 to USD 830 million by 2029, exhibiting a CAGR of 6.3% during the forecast period. The market growth is primarily attributed to the increasing exploration and production activities in deepwater and ultra-deepwater environments, rising demand for subsea oil and gas production, advancements in landing string technology, and the growing adoption of remote-operated landing string systems.
The demand for landing string equipment is largely driven by the increasing number of deepwater and ultra-deepwater drilling operations. These operations require specialized equipment capable of handling high pressure and temperature conditions, making landing strings essential for safe and efficient well construction.
Moreover, the growing adoption of subsea oil and gas production systems is contributing to the market growth. Subsea production systems offer several advantages, including lower environmental impact, reduced operating costs, and increased production efficiency. As a result, the demand for landing strings specifically designed for subsea applications is expected to surge in the coming years.
Technological advancements in landing string equipment are also fueling market growth. The integration of sensors, automated control systems, and advanced materials is enhancing the performance and safety of landing strings. These advancements enable real-time monitoring, remote operation, and improved reliability, leading to increased adoption and cost savings for operators.
Driving Forces: What's Propelling the Landing String Equipment Market
Rising Exploration and Production Activities: The growing global energy demand is driving exploration and production activities in deepwater and ultra-deepwater environments, where landing string equipment is essential for well construction and production operations.
Increased Subsea Oil and Gas Production: Subsea oil and gas production systems offer cost-effective and environmentally friendly solutions, leading to increased demand for landing strings designed specifically for these applications.
Technological Advancements: Innovations in landing string technology, such as automated control systems, sensors, and advanced materials, are improving performance, safety, and efficiency, resulting in increased adoption.
Remote Operations: Remote-operated landing string systems enhance safety and efficiency by eliminating the need for divers and manual intervention, driving market growth.
Government Support and Incentives: Governments worldwide are providing incentives and support for deepwater and ultra-deepwater exploration and production, boosting the demand for landing string equipment.
Challenges and Restraints in Landing String Equipment Market
Despite the growth potential, the landing string equipment market faces several challenges and restraints:
High Equipment Costs: The manufacturing and operation of landing string equipment can be expensive, posing a major investment barrier for some operators, particularly small and medium-sized companies.
Complex Operations: Deploying and operating landing strings in deepwater and ultra-deepwater environments require specialized expertise and resources, limiting their accessibility to some companies.
String Failure Risks: Landing strings are subjected to extreme conditions, such as high pressure, temperature, and corrosive fluids, increasing the risk of equipment failure and potential environmental hazards.
Limited Availability of Skilled Workforce: The operation of landing strings requires highly skilled and experienced personnel, which can be a challenge to secure in some regions.
String Availability in Deepwater: In certain deepwater regions, the availability of landing strings may be limited due to logistical challenges and the need for specialized equipment, leading to potential project delays.
Key Region or Country & Segment to Dominate the Market
The Asia Pacific region is expected to dominate the landing string equipment market throughout the forecast period. The region's growing energy demand and increasing exploration and production activities in deepwater and ultra-deepwater environments are driving the demand for landing string equipment. China, India, and Malaysia are major contributors to the market in the Asia Pacific region.
Among the end-user segments, oil and gas companies are expected to hold a significant market share due to their primary role in exploration and production operations. Oilfield service companies also play a crucial role in the market by providing landing string equipment rental and maintenance services.
Growth Catalysts in Landing String Equipment Industry
Increase in Deepwater and Ultra-Deepwater Exploration: The expansion of exploration and production activities in deepwater and ultra-deepwater environments will continue to drive the demand for landing string equipment.
Advancements in Subsea Technology: Technological advancements in subsea oil and gas production systems, such as remote-operated controls and sensors, will enhance the efficiency and safety of landing string operations.
Government Incentives and Regulations: Governments worldwide are offering incentives and implementing regulations to promote exploration and production activities, supporting the growth of the landing string equipment market.
Focus on Environmental Sustainability: The push for environmentally sustainable oil and gas production will drive the adoption of subsea production systems and associated equipment, including landing strings.
Collaboration and Partnerships: Strategic partnerships and collaborations between original equipment manufacturers (OEMs), oilfield service providers, and operating companies will foster innovation and accelerate the development of advanced landing string equipment solutions.
Leading Players in the Landing String Equipment Market
Expro Group Holdings N.V. (U.S.)
Nov, Inc. (U.S.)
TechnipFMC plc (U.K.)
SLB (U.S.)
Aker Solutions (Norway)
ExPert E&P Companies, LLC. (U.S.)
Interventek Subsea Engineering (Scotland)
Hilong Holding Limited (China)
Yantai Enerserva Machinery Co., Ltd. (China)
Optime Subsea (Norway)
Significant Developments in Landing String Equipment Sector
February 2023: Optime Subsea signed an agreement with Wintershall Holding GmbH to rent three landing string systems and two wireless electric subsea control and intervention systems (eSCILS).
October 2021: Interventek Subsea Engineering launched the Revolution-7 Subsea Landing String, equipped with a 7-inch nominal and 10,000psi rating, integrated gas-accumulated power source, and PowerPlus technology.
October 2021: SLB and Nov, Inc. formed a strategic partnership to accelerate automated drilling solutions, including landing string equipment, for oil and gas companies and contractors.
April 2021: Halliburton Company and Optime Subsea announced a strategic partnership to integrate Optime's remotely operated controls system into Halliburton's completion landing string services.
This comprehensive report provides an in-depth analysis of the global landing string equipment market, covering key market trends, driving forces, challenges, growth catalysts, leading players, and significant developments. The report offers valuable insights into the market dynamics, competitive landscape, and future growth prospects, enabling stakeholders to make informed decisions and implement effective market strategies.
Landing String Equipment Market Segmentation
1. Application
1.1. Shallow
1.2. Deepwater
1.3. Ultra-Deepwater
2. End-user
2.1. Oil & Gas Companies
2.2. Oilfield Service Companies
2.3. Research & Development Institutions
Landing String Equipment Market Segmentation By Geography
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
Web Analytics
Survey Reports
Research Institute
Latest Research Reports
Opinion Leaders
Secondary Research
Annual Reports
White Paper
Latest Press Release
Industry Association
Paid Database
Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Landing String Equipment Market?
The projected CAGR is approximately 6.5%.
2. Which companies are prominent players in the Landing String Equipment Market?
Key companies in the market include Expro Group Holdings N.V. (U.S.), Nov, Inc. (U.S.), TechnipFMC plc (U.K.), SLB (U.S.), Aker Solutions (Norway), ExPert E&P Companies, LLC. (U.S.), Interventek Subsea Engineering (Scotland), Hilong Holding Limited (China), Yantai Enerserva Machinery Co., Ltd. (China), Optime Subsea (Norway).
3. What are the main segments of the Landing String Equipment Market?
The market segments include Application, End-user.
4. Can you provide details about the market size?
The market size is estimated to be USD 311.6 USD Million as of 2022.
5. What are some drivers contributing to market growth?
Increasing Investment in Offshore Oil & Gas Projects to Drive Market Growth.
6. What are the notable trends driving market growth?
Increasing Investment in Offshore Oil & Gas Projects to Drive Market Growth.
7. Are there any restraints impacting market growth?
Increasing Investment in Offshore Oil & Gas Projects to Drive Market Growth.
8. Can you provide examples of recent developments in the market?
February 2023: Optime Subsea, a provider of subsea solutions, signed an agreement with Wintershall Holding GmbH to rent three landing string systems and two wireless electric subsea control and intervention systems (eSCILS).
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4850, USD 5850, and USD 6850 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in USD Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Landing String Equipment Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Landing String Equipment Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Landing String Equipment Market?
To stay informed about further developments, trends, and reports in the Landing String Equipment Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Landing String Equipment Market