Sales of zonal isolation packers exceeded 25438 units in the year 2018 and the sales are expected to go beyond 26000 in the year 2019 as per the report of Fact.MR. The issue of gas immigration is a long-lasting challenge that needs to be addressed. This turn of events is making the way for zonal isolation technologies which includes zonal packers.
The demand for Zonal isolation packers is related to the work over and life cycle. The increase in well drilling activities throughout the world industrial operators are trying to find the isolation packers that can enhance life cycle and reduce the workover of well. The increased demand for well intervention services is making space for the Zonal Isolation packers.
The users will prefer permanent zonal packers over the retrievable ones due to their better performance. The gripping and sealing and gripping ability along with the low cost are the key factors that are increasing the sale of Permanent zonal isolation packers, the global sales are expected to surpass 15600 units in 2019. The demand for zone packers for the onshore site will go beyond 22500 units in the year 2019.
The top three companies dominating zonal isolation packers market include Schlumberger Limited, Baker Hughes Inc. and Halliburton. The zonal isolation packer market is also dominated by some local companies which can force big companies to reduce their price. The manufacturers are also constantly improving their tools to offer the best products to their customers.
The major companies are placing their production units near the oil and gas sites to reduce the transportation cost. The market is competitive which is putting the users of zonal isolation packers in a good position. The leading players of the market are adopting a different approach to get ahead of their competition and evolve according to the requirements of users. According to the report of Fact.MR the CAGR of zonal isolation packers market from 2019 to 2027 will be 3.5%.