Growing need to enhance safety during oil exploration activities to drive the growth of the global safety clamp market.
According to TechSci Research report on, “Safety Clamp market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global safety clamp market is anticipated to witness robust CAGR over the forecast period 2023-2027. The market growth can be attributed to the increase in oil & gas exploration activities and enhanced focus of organizations on improving the safety of operators engaged in drilling. Safety clamps serve as a backup safety mechanism to guard against dropping flush-joint pipe, streamlined drill collars, etc. and provide more control in case of component failure during downhole operations. Rapid urbanization and industrialization have led to a surge in need for energy. Hence, power generation companies are continuously exploring new offshore and onshore locations to fulfill the growing energy needs for domestic and industrial purposes. Various industry players are striving to perform research & development activities and advancing drilling equipment to maximize their output, which is expected to contribute to the global safety clamp market growth. Besides, market players are involved in research & development to improve the quality and efficiency of safety clamps. Emergence of new varieties of safety clamps by market players to further enhance the efficiency of drilling operations is expected to boost the growth of safety clamp market in the coming years. New rules and standards issued by OSHA to regulate the safety of workers involved in drilling process is further expected to fuel the demand for safety clamps, which is anticipated to boost their market growth.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "Global Safety Clamp Market"
The global safety clamp market is segmented on the basis of type, product type, location, and region.
Based on the product type, the market is further divided into tubing and casing. The casing segment is expected to hold the largest share in the global safety clamp market, owing to their greater adoption for creating a uniform gripping pressure to prevent risks of crushing thin wall pipes. Casing safety clamp acts as individual gripping member to hold down against floatation of surface pipe while cementing. However, these safety clamps are used in conjunction with slips and are not designed to hold or hoist the string weight.
Based on product type, the market is divided into Type T, Type C, and Type MP. The Type MP segment is anticipated to hold the largest share in the market during the forecast period. The Type MP segment is designed to offer significant flexibility as they are adjustable to a variety of tubular. Hence, Type MP is being widely utilized by oil and gas companies to carry out different gripping functions with the same kind of tool.
Based on location, the market is bifurcated into onshore and offshore. The offshore segment is expected to hold the largest share in the global safety clamp during the forecast period, owing to the advancement in drilling technologies like vertical and horizontal drilling. Besides, an increase in investments by various countries across the world to discover new oil reserves are aiding the market growth.
A list of major market players of the global safety clamp market includes:
- Texas International
- Janki Oil Tools
- Autobahn Industries
- Keystone Pipe Handling Tools
- Premium Oilfield Technologies
- General Petroleum Oil Tools
- FYPE Rigid Machinery Co. Ltd.
- Alco Group
- Shaanxi Gaoton Highlong Machinery Co. Ltd.
- Rbdxki Co. Ltd.
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“Rising number of deep-water and ultra-deep-water oil and gas excavation activities to extract hydrocarbons essential for energy generation in counties such as Nigeria, Brazil, Saudi Arabia, etc. are anticipated to fuel the growth of the global safety clamp market. Furthermore, shifting focus of oil and gas companies on shale gas reserves and other unconventional oil fields are likely to propel the market growth. Various companies are focusing on the organic and inorganic growth strategies for finding lucrative growth opportunities in the forecast period, which is expected to drive the global safety clamp market.” said Mr. Karan Chechi, Research Director, TechSci Research, a research based global management consulting firm.
“Safety Clamp market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Type (Tubing, and Casing), By Product Type (Type T, Type C, Type MP), By Location (Onshore, Offshore) and By Region” has evaluated the future growth potential of global safety clamp market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global safety clamp market.
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