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Homepage > CMRC understandings > 【CMRC understanding】The domestic casing Market is expected to grow by more than 10% in the next five years.
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Oil?casing?is?one?of?the?necessary?products?in?the?field?of?energy?equipment.?It?is?a?steel?pipe?used?to?support?the?well?wall?of?oil?and?gas?wells.?Its?main?function?is?to?ensure?the?normal?operation?of?oil?and?gas?wells?during?the?drilling?process?and?later?operation.?According?to?different?well?depths?and?geological?conditions,?each?oil?and?gas?well?needs?to?use?multi-layer?casing,?which?is?different?from?tubing?and?drill?pipe?and?cannot?be?reused.?It?is?a?disposable?consumable?material.?Therefore,?the?consumption?of?casings?in?oil?and?gas?fields?is?large,?accounting?for?about?70%?of?all?well?casings?in?oil?and?gas?fields.
Energy?consumption?demand,?economic?cycle?changes?and?raw?material?price?fluctuations?are?the?main?factors?affecting?the?prosperity?of?the?energy?equipment?manufacturing?industry.?Since?2021,?the?overall?development?trend?of?the?global?economy?has?gradually?improved,?and?the?demand?for?oil?and?gas?has?gradually?increased.?In?2021,?the?domestic?crude?oil?output?reached?198.98?million?tons,?and?the?natural?gas?output?was?about?205.3?billion?cubic?meters.
With?the?increasing?downstream?demand?and?the?rising?international?oil?price,?the?exploration?expenditure?of?domestic?oil?and?gas?enterprises?has?also?been?increased,?which?has?promoted?the?development?of?domestic?energy?equipment,?especially?the?oil?casing?industry.?According?to?the?"domestic?energy?equipment?Market?Research?Report"?released?by?CMRC?Zhongyan?Century?Consulting,?the?national?oil?casing?production?reached?about?5.35?million?tons?in?2021,?with?an?average?annual?growth?of?about?4.3%?in?the?past?five?years.
Moreover,?China?is?already?the?world's?largest?producer?of?oil?casings,?and?domestic?production?is?mainly?concentrated?in?Jiangsu,?Shandong,?Tianjin,?Zhejiang?and?other?provinces?and?cities.?At?present,?there?are?about?80?authorized?enterprises?of?domestic?pipe?products?API?(American?Petroleum?Institute),?including?more?than?20?authorized?enterprises?of?API?casing,?and?the?market?competition?is?relatively?fierce.
From?the?perspective?of?the?development?trend?of?the?global?energy?market,?the?global?demand?for?oil?and?gas?will?continue?to?increase?for?a?long?time?in?the?future,?and?the?price?will?generally?maintain?an?upward?trend?or?maintain?a?high?operation;?Moreover,?the?"14th?five?year?plan"?and?other?policies?also?put?forward?requirements?for?China's?oil?and?gas?exploration?and?development.?In?the?future,?domestic?oil?and?gas?production?will?be?stable?and?increased.?The?domestic?oil?and?gas?exploration?and?development?market?has?also?been?fully?liberalized.?Private?and?foreign-funded?enterprises?and?other?capital?from?all?walks?of?life?are?expected?to?enter?the?domestic?oil?and?gas?exploration?and?development?market.
With?the?acceleration?of?oil?and?gas?production?and?the?continuous?growth?of?oil?and?gas?capital?expenditure,?the?overall?demand?for?energy?equipment?represented?by?oil?casings?will?continue?to?expand,?and?the?prosperity?of?the?industry?will?further?improve.?CMRC?Zhongyan?century?market?research?company?predicts?that?the?overall?size?of?the?domestic?casing?market?will?increase?by?more?than?10%?in?the?next?five?years.
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