Tubing Spools Market by Type, and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026

Executive Summary

According to the report, titled, 'Tubing Spools Market by Type, and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global tubing spools market size was valued at $490.5 million in 2018, and is projected to reach $725.8 million by 2026, registering a CAGR of 4.9% from 2019 to 2026.

North America is expected to be the leading contributor to the global tubing spools market, followed by Asia-Pacific, and Europe. Based on type, the single tubing spools segment accounted for the highest market share in 2018 and is expected to witness significant growth during the forecast period, owing to its capability of supporting maximum loads.

In terms of application, the onshore segment contributed the highest share in the market in 2018 and is expected to witness growth at a CAGR of 5.5% during the forecast period owing to technical innovations. This is expected to provide lucrative growth opportunities to the market players in developing economies.

The major players in the market such as EthosEnergy Group Limited, Integrated Equipment, Jereh Oilfield Equipment, Weir Group, and others, have focused on business expansion and acquisition to strengthen their presence in the market. For instance, in July 2018, Weir Group , a Scottish engineering firm acquired ESCO Corporation. The ESCO Corporation is merged with Weir Group to operate as a new division. The company deals in oil and gas drilling tool and other parts. Similarly, in April 2019, Weir Group opened new 92,000 square-foot customer service center at David Mims Business Park in New Mexico, U.S. to fulfil the growing customer demand. Moreover, in February 2019, Integrated Equipment, Inc., a manufacturer of oilfield equipment received $9 million from Veritas Financial Partners for future growth and to improve its supply chain by establishing a global support network.

The key players profiled in the report include Delta Corporation, EthosEnergy Group Limited, Integrated Equipment, Jereh Oilfield Equipment, Jiangsu Sanyi Petroleum Equipment Co., Ltd, JMP Petroleum Technologies, Inc., Msp/drilex, Inc., Uztel S.A, Sunnda Corporation, and Weir Group.

Key Findings of the Study
The report provides an extensive analysis of the current and emerging tubing spools market trends and dynamics.
Depending on type, the single tubing segment dominated the tubing spools market, in terms of revenue in 2018 and is projected to grow at a CAGR 5.6% during the forecast period.
By application, the onshore segment led the market in 2018.
North America is projected to register the highest growth rate in the coming years.
Key market players within the tubing spools market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the tubing spools industry.
In-depth tubing spools market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.

Companies Mentioned

• Delta Corporation
• EthosEnergy Group Limited
• Integrated Equipment
• Jereh Oilfield Equipment
• Jiangsu Sanyi Petroleum Equipment Co. Ltd
• JMP Petroleum Technologies Inc.
• Msp/drilex Inc.
• Uztel S.A
• Sunnda Corporation
• Weir Group

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.