Liner Hanger Market Size

Liner Hanger Market size was over USD 95.22 Billion in 2023 and is poised to cross USD 198.17 Billion by 2036, witnessing more than 5.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of liner hanger is evaluated at USD 100.44 Billion. The growing focus and investments in oil exploration activities are estimated to increase the utilization of liner hangers in the casing string during the production process. Global investment in oil and gas is estimated to increase by USD 25 Billion by the end of this year. Out of this, the investments in offshore activities are set to increase by 7%, to USD 155 billion, while conventional onshore is projected to jump by 8%, to USD 290 billion.

A liner hanger is an advanced tool that is primarily used for hanging a liner in an oil production well. However, with the advancement in technology, several different types of liner hangers are now available in the market that could be used for various purposes in numerous industries. This factor is anticipated to create positive opportunities that are in favor of market expansion. Also, the global market value is estimated to increase owing to rising demand for high total drilled footage per well along with enhanced productivity and efficiency during the drilling process.