Global packer market is expected to witness significant growth over the next seven years owing to increasing hydrocarbon sealing equipment demand in oil & gas extraction process. For More Information Visit - http://www.grandviewresearch.com/industry-analysis/packer-market

1. Grand View Research, Inc: Global Packer Market Analysis,
Market Size, Application Analysis, Regional Outlook,
Competitive Strategies And Forecasts, 2015 To 2022
Global packer market is expected to witness significant growth over the next seven
years owing to increasing hydrocarbon sealing equipment demand in oil & gas
extraction process. Growing drilling & extraction activities globally is anticipated
to spur packer demand over the forecast period. Packers are applied to pipes and
casing during drilling process for efficient and safe hydrocarbon extraction.
Packers are generally manufactured from elastomers which enhance resistance
from external shear and vibrations. Variation in formation type and petrophysical
properties within small range of topography makes it difficult for E&P companies
to extract oil & gas with high efficiency.
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2. Different ambient properties in various regions require variety of suitable packers
for the formations which is projected to augment the packer market growth over
the forecast period. Rising safety concerns coupled with increasing requirement for
optimum efficiency extraction process to reduce wastage during oil production is
expected to fuel packer market growth over the forecast period. Increasing E&P
activities in both onshore and ultra-deep offshore hydrocarbon reserves is expected
to promote safe drilling process and sustainable equipment management which in
turn is anticipated to drive packer market growth over the foreseeable future.
Growing horizontal drilling particularly in unconventional reserves is expected to
bolster the packer market growth over the forecast period. High raw material cost
due to customized design requirement is expected to hinder the packer market over
the next seven years.

3. Packers have been segmented into two types as permanent and retrievable.
Permanent packers can be removed after the completion of the extraction process.
These are applied on a small scale owing to high manufacturing cost and complex
design as per the requirements. Retrievable packers are anticipated to witness rapid
growth over the forecast period on account of low cost and simple installation
method. These can be changed multiple times during the extraction process using
milling tool.
North America was the dominant regional market in 2014 and is anticipated to
show considerable growth over the next seven years on account of growing
onshore E&P activities and increasing shale plays in the region. Asia pacific is
expected to be the fastest growing regional market over the forecast period due to
growing E&P activities particularly in Indonesia, China and Malaysia. Upcoming
E&P projects in shale reserves in China are anticipated to witness surging packer
demand over the foreseeable future.

4. Upcoming E&P projects in emerging economies such China, Brazil and India are
also projected to drive packer market growth over the next seven years.
Major companies operating in global packer market include Team Oil Tools Inc.,
TIW Corporation, Baker Hughes Incorporated, Map Oil Tools, Inc., Weatherford
International Limited, Tryton Tools Services, Schlumberger Limited, Logan
Completion Systems and Halliburton Company.
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Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports,
and consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals, materials,
healthcare and energy.
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