Flourishing World Trade to Drive the Demand for Sliding Sleeves across the Globe

Introduction

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.

Key Highlights

• The sliding sleeves market is anticipated to grow with a lucrative CAGR of xx%, strongly supported by the rapidly rising global demand for oil & gas and technological advancements.
• The onshore exploration segment is projected to account for the highest market share in the sliding sleeves market. The availability of advanced machinery is encouraging the oil & gas companies to explore in deep waters, further driving the market growth. On the other hand, the offshore exploration segment is anticipated to grow at the fastest pace during the forecast period.
• North America dominates the sliding sleeves market on account of favorable government regulations and large shale oil reserves in the region. Moreover, increasing investments for tapping the untapped shale reserves drives the market growth.

Competitive Players

Key Players

• Halliburton
• National Oilwell Varco
• NCS Multistage Holdings, Inc
• Schlumberger Limited
• American Completion Tools
• China Vigor Drilling Oil Tools and Equipment Co., Ltd
• DandL Oil Tools
• Evolution Oil Tools Inc.
• Giant Oil Tools
• Map Oil Tools
• Parveen Industries Pvt. Ltd.
• Schoeller-Bleckmann Oilfield Equipment AG
• Shengli Highland Oilfield Services
• Stage Completions
• Team Oil Tools, LLC
• Top Tools the Oilfield Partner

Recent Developments

Segmentation

Sliding Sleeves Market: Segmentation

By Application

• Onshore
• Offshore

By Type

• Open/ Close
• Choking

By Standard Tubing Size

• 2–3/8
• 2–7/8
• 3–1/2
• 4
• 4–1/2
• 5
• 5–1/2
• 7

By Region

• North America
• Europe
• Asia-Pacific
• South America
• The Middle-East and Africa