Rapid growth in world trade is driving the demand for ships and other vessels for their low cost and bulk carrying capacity. Thus, increasing global oil demand is expected to drive the shipping industry. Rising population, surging energy demand, and increasing exploration and production activities have compelled the leading market players to capitalize on the opportunities, further driving the market growth. The introduction of unconventional sources of oil and gas, such as shale oil and tight oil, is burgeoning the drilling activities across the globe, further driving the market growth.
Impact of Covid-19 on the Sliding Sleeves Market
The current COVID-19 pandemic has created havoc across the globe. The oil demand has decreased by 5% due to curtailment in mobility and aviation, accounting for nearly 60% of global oil demand. The pandemic has severely hit the oil exploration activities, negatively impacting the oil and gas sector.
The prominent market players are striving to navigate through these unprecedented times and are formulating aggressive strategies. In China, the companies strategized to reduce the supply chain disruption and source alternative suppliers in the country. The pandemic is projected to have a long-term effect on the global demand for oil and gas, further hampering the market growth.
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Sliding Sleeves Market: Segmentation
By Standard Tubing Size
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now