Regional Analysis

Regional analysis of hydraulic tubing anchor market

On the basis of the region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America is expected to account for the largest market share over the forecast period owing to presence of key players in the region such as D&L Oil Tools, Peak Completion Technologies, Inc., and Oilenco Limited. The growth of the global hydraulic tubing anchor market due to an increasing number drilling activities in exploration and production activities of oil and shale reserves.

Various companies are using these tubing anchors for drilling oil which is driving the growth of this market. According to a report published by the Energy Information Administration (EIA) in December 2019, the U.S. oil production reached 9.97 million barrels per day in December 2017 and 12.04 million barrels per day in December 2018.

Additionally, the production of natural gas in U.S reached 97.59 billion cubic feet per day in December 2017 and 108.56 billion cubic feet per day in December 2018.

Geographies Covered