PUBLISHER: TechSci Research | PRODUCT CODE: 1348777
PUBLISHER: TechSci Research | PRODUCT CODE: 1348777
Bridge Plugs Market - Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028. Segmented By Type (Retrievable Bridge Plugs and Non- Retrievable Bridge Plugs), By Condition, By Material, By Application, By Region, By Competition.
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Global Bridge Plugs Market is anticipated to grow robustly in the forecast period 2024-2028. Rising oil and gas demand worldwide are the major factor propelling the growth of the global bridge plugs in year 2024-2028. Bridge Plugs are downhole tools slips, a mandrel, and a sealing part made of elastomer. It is routed through a hole and fitted in a casing to separate a lower and higher zone. It can be installed permanently to shut off a well or temporarily to undertake well maintenance. Bridge plugs are essentially utilized to abandon the well following the manufacturing procedure. New developments in the oil and gas sector are improving the sector's effectiveness, safety, and intelligence. To do this, businesses investigate effective and competitive ways to digitize, automate, and address challenging sub-surface engineering issues.
Rapidly rising in demand of oil and Gas Demand and Environmental Concern Fueling the Market Growth.
The market for bridge plugs is propelled by the rising demand for gas and oil. For instance, according to a monthly report from the Organization of the Petroleum Exporting Countries (OPEC), global oil consumption would increase by 2.25 million barrels per day (bpd) or around 2.3% in 2023. Due to which the market is expected to grow in the forecast period.
| Market Overview | |
|---|---|
| Forecast Period | 2024-2028 |
| Market Size 2022 | USD 1.01 Billion |
| Market Size 2028 | USD 1.29 Billion |
| CAGR (2023-2028) | 4.1% |
| Fastest Growing Segment | Offshore |
| Largest Market | North America |
An open oil & gas well can cause fires and explosions the ignition of combustible vapors or gases poses a fire and explosion danger to anyone working in the oil and gas industries. Wells, trucks, production equipment, or surface equipment such tanks and shale shakers can all produce flammable gases such well gases, vapors, and hydrogen sulfide. Hence environmental concern is taking place due to which bridge plug market is expected to grow in future.
As the industry continues to recover from the epidemic and the obstacles presented by the Omicron variety, global investments in oil and gas would increase by USD26 billion this year. Rystad Energy study predicts that overall oil and gas spending would increase by 4% to USD628 billion this year from USD602 billion in 2021.
Rising upstream oil and gas industry investment driving the global bridge plug market, since a rise of 14% in upstream LNG and gas investments is a key factor. With an increase in investment from USD 131 billion in 2021 to around USD 149 billion in 2022, which has the largest growth this year.
Latest Technological Advancement of One Trip Bridge Plugs Expanding the Market Growth
Bridge plug technological innovations are the most recent trend in the bridge plug industry; drillers employ several types of bridge plugs in the subsurface. Nowadays, the new tool, when used in conjunction with the cement plug in the top portion, improves the accuracy of the plug setting operation and solves the obstacles associated with setting cement plug operations in granite open hole intervals with high leakage.
One trip is sufficient to correctly fix the cement plug and drillable open hole bridge plug, it can be economical in the field. When the cement plug's length was drastically shortened, it showed no movement under a 220 kN load. Since the drillable open hole bridge plug and cement plug may completely fulfil the requirements for MFE tests with liner support in the bottom hole, drillers are turning to open hole bridge plugs since drillers are moving towards one trip bridge plug market.
Latest Environmental, Health, and Safety (EHS) Guidelines related to offshore and onshore oil and gas industry future fueling the market grow with a high CAGR in the forecast period. For instance, The Production Sharing Contract (PSC(Article)'s 14) "Protection of Environment" clause states that the Contractor is responsible for ensuring environmental protection and resource conservation using cutting-edge technologies, modern oilfield practices, and operational procedures that minimize environmental impact.
Fire or explosion caused by the presence of combustible liquids and gases is one of the main reasons restraining the worldwide market for bridge plugs. A further danger of burns, asphyxiation, cancer, or system corrosion may be present when toxic substances or gases are encountered during these procedures.
Market Segmentation
The Global Bridge Plugs Market is divided into type, condition, material, and application. Based on Type, the market is segmented into Retrievable Bridge Plugs (RBP) and Non- Retrievable Bridge Plugs. Based on Condition, the market is divided into High Pressure and Others, Based on Material, the market is split into Cast Iron and Composite Plugs. Based on Application, the market is segmented into offshore and onshore.
Market player
Major market players in the Global Bridge Plugs Market are Omega Well Intervention, Halliburton, Baker Hughes, Schlumberger, Rubicon Oilfield International, D&L Oil Tools, Interwell, Coretrax, Avalon Global Research, Peak Completion Technologies.
Report Scope:
In this report, Global Bridge Plugs Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Bridge Plugs Market, By Type:
- Retrievable Bridge Plugs (RBP)
- Non- Retrievable Bridge Plugs
- Bridge Plugs Market, By Condition:
- High Pressure
- Others
Bridge Plugs Market, By Material:
- Cast Iron
- Composite Plugs
Bridge Plugs Market, By Application:
- Offshore
- Onshore
Bridge Plugs Market, By Region:
- North America
- United States
- Mexico
- Canada
- Asia-Pacific
- India
- Japan
- South Korea
- Australia
- Singapore
- Malayasia
- China
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Poland
- Denmark
- South America
- Brazil
- Argentina
- Colombia
- Peru
- Chile
- Middle East
- Saudi Arabia
- South Africa
- UAE
- Iraq
- Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Bridge Plugs Market.
Available Customizations
Global Bridge Plugs Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
Table of Contents
roduct Overview
2. Research Methodology
3. Impact of COVID-19 Global Bridge Plugs Market
4. Executive Summary
5. Voice of Customers
6. Global Bridge Plugs Market
- 6.1. Market Size & Forecast
- 6.1.1. By Value
- 6.2. Market Share & Forecast
- 6.2.1. By Type (Retrievable Bridge Plugs (RBP) and Non- Retrievable Bridge Plugs)
- 6.2.2. By Condition (High Pressure and Others)
- 6.2.3. By Material (Cast Iron and Composite Plugs)
- 6.2.4. By Application (Offshore & Onshore)
- 6.2.5. By Region
- 6.3. By Company
- 6.4. Market Map
7. North America Bridge Plugs Market Outlook
- 7.1. Market Size & Forecast
- 7.1.1. By Value
- 7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Condition
- 7.2.3. By Material
- 7.2.4. By Application
- 7.2.5. By Country
- 7.3. North America: Country Analysis
- 7.3.1. United States Bridge Plugs Market Outlook
- 7.3.1.1. Market Size & Forecast
- 7.3.1.1.1. By Value
- 7.3.1.2. Market Share & Forecast
- 7.3.1.2.1. By Type
- 7.3.1.2.2. By Condition
- 7.3.1.2.3. By Material
- 7.3.1.2.4. By Application
- 7.3.1.1. Market Size & Forecast
- 7.3.2. Canada Bridge Plugs Market Outlook
- 7.3.2.1. Market Size & Forecast
- 7.3.2.1.1. By Value
- 7.3.2.2. Market Share & Forecast
- 7.3.2.2.1. By Type
- 7.3.2.2.2. By Condition
- 7.3.2.2.3. By Material
- 7.3.2.2.4. By Application
- 7.3.2.1. Market Size & Forecast
- 7.3.3. Mexico Bridge Plugs Market Outlook
- 7.3.3.1. Market Size & Forecast
- 7.3.3.1.1. By Value
- 7.3.3.2. Market Share & Forecast
- 7.3.3.2.1. By Type
- 7.3.3.2.2. By Condition
- 7.3.3.2.3. By Material
- 7.3.3.2.4. By Application
- 7.3.3.1. Market Size & Forecast
- 7.3.1. United States Bridge Plugs Market Outlook
8. Asia-Pacific Bridge Plugs Market Outlook
- 8.1. Market Size & Forecast
- 8.1.1. By Value
- 8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Condition
- 8.2.3. By Material
- 8.2.4. By Application
- 8.2.5. By Country
- 8.3. Asia-Pacific: Country Analysis
- 8.3.1. China Bridge Plugs Market Outlook
- 8.3.1.1. Market Size & Forecast
- 8.3.1.1.1. By Value
- 8.3.1.2. Market Share & Forecast
- 8.3.1.2.1. By Type
- 8.3.1.2.2. By Condition
- 8.3.1.2.3. By Material
- 8.3.1.2.4. By Application
- 8.3.1.1. Market Size & Forecast
- 8.3.2. India Bridge Plugs Market Outlook
- 8.3.2.1. Market Size & Forecast
- 8.3.2.1.1. By Value
- 8.3.2.2. Market Share & Forecast
- 8.3.2.2.1. By Type
- 8.3.2.2.2. By Condition
- 8.3.2.2.3. By Material
- 8.3.2.2.4. By Application
- 8.3.2.1. Market Size & Forecast
- 8.3.3. Japan Bridge Plugs Market Outlook
- 8.3.3.1. Market Size & Forecast
- 8.3.3.1.1. By Value
- 8.3.3.2. Market Share & Forecast
- 8.3.3.2.1. By Type
- 8.3.3.2.2. By Condition
- 8.3.3.2.3. By Material
- 8.3.3.2.4. By Application
- 8.3.3.1. Market Size & Forecast
- 8.3.4. South Korea Bridge Plugs Market Outlook
- 8.3.4.1. Market Size & Forecast
- 8.3.4.1.1. By Value
- 8.3.4.2. Market Share & Forecast
- 8.3.4.2.1. By Type
- 8.3.4.2.2. By Condition
- 8.3.4.2.3. By Material
- 8.3.4.2.4. By Application
- 8.3.4.1. Market Size & Forecast
- 8.3.5. Australia Bridge Plugs Market Outlook
- 8.3.5.1. Market Size & Forecast
- 8.3.5.1.1. By Value
- 8.3.5.2. Market Share & Forecast
- 8.3.5.2.1. By Type
- 8.3.5.2.2. By Condition
- 8.3.5.2.3. By Material
- 8.3.5.2.4. By Application
- 8.3.5.1. Market Size & Forecast
- 8.3.6. Singapore Bridge Plugs Market Outlook
- 8.3.6.1. Market Size & Forecast
- 8.3.6.1.1. By Value
- 8.3.6.2. Market Share & Forecast
- 8.3.6.2.1. By Type
- 8.3.6.2.2. By Condition
- 8.3.6.2.3. By Material
- 8.3.6.2.4. By Application
- 8.3.6.1. Market Size & Forecast
- 8.3.7. Malaysia Bridge Plugs Market Outlook
- 8.3.7.1. Market Size & Forecast
- 8.3.7.1.1. By Value
- 8.3.7.2. Market Share & Forecast
- 8.3.7.2.1. By Type
- 8.3.7.2.2. By Condition
- 8.3.7.2.3. By Material
- 8.3.7.2.4. By Application
- 8.3.7.1. Market Size & Forecast
- 8.3.1. China Bridge Plugs Market Outlook
9. Europe Bridge Plugs Market Outlook
- 9.1. Market Size & Forecast
- 9.1.1. By Value
- 9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Condition
- 9.2.3. By Material
- 9.2.4. By Application
- 9.2.5. By Country
- 9.3. Europe: Country Analysis
- 9.3.1. Germany Bridge Plugs Market Outlook
- 9.3.1.1. Market Size & Forecast
- 9.3.1.2. By Value
- 9.3.1.3. Market Share & Forecast
- 9.3.1.3.1. By Type
- 9.3.1.3.2. By Condition
- 9.3.1.3.3. By Material
- 9.3.1.3.4. By Application
- 9.3.2. United Kingdom Bridge Plugs Market Outlook
- 9.3.2.1. Market Size & Forecast
- 9.3.2.1.1. By Value
- 9.3.2.2. Market Share & Forecast
- 9.3.2.2.1. By Type
- 9.3.2.2.2. By Condition
- 9.3.2.2.3. By Material
- 9.3.2.2.4. By Application
- 9.3.2.1. Market Size & Forecast
- 9.3.3. France Bridge Plugs Market Outlook
- 9.3.3.1. Market Size & Forecast
- 9.3.3.1.1. By Value
- 9.3.3.2. Market Share & Forecast
- 9.3.3.2.1. By Type
- 9.3.3.2.2. By Condition
- 9.3.3.2.3. By Material
- 9.3.3.2.4. By Application
- 9.3.3.1. Market Size & Forecast
- 9.3.4. Russia Bridge Plugs Market Outlook
- 9.3.4.1. Market Size & Forecast
- 9.3.4.1.1. By Value
- 9.3.4.2. Market Share & Forecast
- 9.3.4.2.1. By Type
- 9.3.4.2.2. By Condition
- 9.3.4.2.3. By Material
- 9.3.4.2.4. By Application
- 9.3.4.1. Market Size & Forecast
- 9.3.5. Spain Bridge Plugs Market Outlook
- 9.3.5.1. Market Size & Forecast
- 9.3.5.1.1. By Value
- 9.3.5.2. Market Share & Forecast
- 9.3.5.2.1. By Type
- 9.3.5.2.2. By Condition
- 9.3.5.2.3. By Material
- 9.3.5.2.4. By Application
- 9.3.5.1. Market Size & Forecast
- 9.3.6. Poland Bridge Plugs Market Outlook
- 9.3.6.1. Market Size & Forecast
- 9.3.6.1.1. By Value
- 9.3.6.2. Market Share & Forecast
- 9.3.6.2.1. By Type
- 9.3.6.2.2. By Condition
- 9.3.6.2.3. By Material
- 9.3.6.2.4. By Application
- 9.3.6.1. Market Size & Forecast
- 9.3.7. Italy Bridge Plugs Market Outlook
- 9.3.7.1. Market Size & Forecast
- 9.3.7.1.1. By Value
- 9.3.7.2. Market Share & Forecast
- 9.3.7.2.1. By Type
- 9.3.7.2.2. By Condition
- 9.3.7.2.3. By Material
- 9.3.7.2.4. By Application
- 9.3.7.1. Market Size & Forecast
- 9.3.8. Denmark Bridge Plugs Market Outlook
- 9.3.8.1. Market Size & Forecast
- 9.3.8.1.1. By Value
- 9.3.8.2. Market Share & Forecast
- 9.3.8.2.1. By Type
- 9.3.8.2.2. By Condition
- 9.3.8.2.3. By Material
- 9.3.8.2.4. By Application
- 9.3.8.1. Market Size & Forecast
- 9.3.1. Germany Bridge Plugs Market Outlook
10. South America Bridge Plugs Market Outlook
- 10.1. Market Size & Forecast
- 10.1.1. By Value
- 10.2. Market Share & Forecast
- 10.2.1. By Type
- 10.2.2. By Condition
- 10.2.3. By Material
- 10.2.4. By Application
- 10.2.5. By Country
- 10.3. South America: Country Analysis
- 10.3.1. Brazil Bridge Plugs Market Outlook
- 10.3.1.1. Market Size & Forecast
- 10.3.1.1.1. By Value
- 10.3.1.2. Market Share & Forecast
- 10.3.1.2.1. By Type
- 10.3.1.2.2. By Condition
- 10.3.1.2.3. By Material
- 10.3.1.2.4. By Application
- 10.3.1.1. Market Size & Forecast
- 10.3.2. Argentina Bridge Plugs Market Outlook
- 10.3.2.1. Market Size & Forecast
- 10.3.2.1.1. By Value
- 10.3.2.2. Market Share & Forecast
- 10.3.2.2.1. By Type
- 10.3.2.2.2. By Condition
- 10.3.2.2.3. By Material
- 10.3.2.2.4. By Application
- 10.3.2.1. Market Size & Forecast
- 10.3.3. Colombia Bridge Plugs Market Outlook
- 10.3.3.1. Market Size & Forecast
- 10.3.3.1.1. By Value
- 10.3.3.2. Market Share & Forecast
- 10.3.3.2.1. By Type
- 10.3.3.2.2. By Condition
- 10.3.3.2.3. By Material
- 10.3.3.2.4. By Application
- 10.3.3.1. Market Size & Forecast
- 10.3.4. Peru Bridge Plugs Market Outlook
- 10.3.4.1. Market Size & Forecast
- 10.3.4.1.1. By Value
- 10.3.4.2. Market Share & Forecast
- 10.3.4.2.1. By Type
- 10.3.4.2.2. By Condition
- 10.3.4.2.3. By Material
- 10.3.4.2.4. By Application
- 10.3.4.1. Market Size & Forecast
- 10.3.5. Chile Bridge Plugs Market Outlook
- 10.3.5.1. Market Size & Forecast
- 10.3.5.1.1. By Value
- 10.3.5.2. Market Share & Forecast
- 10.3.5.2.1. By Type
- 10.3.5.2.2. By Condition
- 10.3.5.2.3. By Material
- 10.3.5.2.4. By Application
- 10.3.5.1. Market Size & Forecast
- 10.3.1. Brazil Bridge Plugs Market Outlook
11. Middle East & Africa Bridge Plugs Market Outlook
- 11.1. Market Size & Forecast
- 11.1.1. By Value
- 11.2. Market Share & Forecast
- 11.2.1. By Type
- 11.2.2. By Condition
- 11.2.3. By Material
- 11.2.4. By Application
- 11.2.5. By Country
- 11.3. Middle East & Africa: Country Analysis
- 11.3.1. Saudi Arabia Bridge Plugs Market Outlook
- 11.3.1.1. Market Size & Forecast
- 11.3.1.1.1. By Value
- 11.3.1.2. Market Share & Forecast
- 11.3.1.2.1. By Type
- 11.3.1.2.2. By Condition
- 11.3.1.2.3. By Material
- 11.3.1.2.4. By Application
- 11.3.1.1. Market Size & Forecast
- 11.3.2. South Africa Bridge Plugs Market Outlook
- 11.3.2.1. Market Size & Forecast
- 11.3.2.1.1. By Value
- 11.3.2.2. Market Share & Forecast
- 11.3.2.2.1. By Type
- 11.3.2.2.2. By Condition
- 11.3.2.2.3. By Material
- 11.3.2.2.4. By Application
- 11.3.2.1. Market Size & Forecast
- 11.3.3. UAE Bridge Plugs Market Outlook
- 11.3.3.1. Market Size & Forecast
- 11.3.3.1.1. By Value
- 11.3.3.2. Market Share & Forecast
- 11.3.3.2.1. By Type
- 11.3.3.2.2. By Condition
- 11.3.3.2.3. By Material
- 11.3.3.2.4. By Application
- 11.3.3.1. Market Size & Forecast
- 11.3.4. Iraq Bridge Plugs Market Outlook
- 11.3.4.1. Market Size & Forecast
- 11.3.4.1.1. By Value
- 11.3.4.2. Market Share & Forecast
- 11.3.4.2.1. By Type
- 11.3.4.2.2. By Condition
- 11.3.4.2.3. By Material
- 11.3.4.2.4. By Application
- 11.3.4.1. Market Size & Forecast
- 11.3.5. Turkey Bridge Plugs Market Outlook
- 11.3.5.1. Market Size & Forecast
- 11.3.5.1.1. By Value
- 11.3.5.2. Market Share & Forecast
- 11.3.5.2.1. By Type
- 11.3.5.2.2. By Condition
- 11.3.5.2.3. By Material
- 11.3.5.2.4. By Application
- 11.3.5.1. Market Size & Forecast
- 11.3.1. Saudi Arabia Bridge Plugs Market Outlook
12. Market Dynamics
- 12.1. Drivers
- 12.2. Challenges
13. Market Trends & Developments
14. Company Profiles
- 14.1. Omega Well Intervention
- 14.1.1. Business Overview
- 14.1.2. Key Revenue and Financials
- 14.1.3. Recent Developments
- 14.1.4. Key Personnel
- 14.1.5. Key Product/Services
- 14.2. Halliburton Limited
- 14.2.1. Business Overview
- 14.2.2. Key Revenue and Financials
- 14.2.3. Recent Developments
- 14.2.4. Key Personnel
- 14.2.5. Key Product/Services
- 14.3. Baker Hughes Company
- 14.3.1. Business Overview
- 14.3.2. Key Revenue and Financials
- 14.3.3. Recent Developments
- 14.3.4. Key Personnel
- 14.3.5. Key Product/Services
- 14.4. Schlumberger Limited
- 14.4.1. Business Overview
- 14.4.2. Key Revenue and Financials
- 14.4.3. Recent Developments
- 14.4.4. Key Personnel
- 14.4.5. Key Product/Services
- 14.5. Rubicon Oilfield International
- 14.5.1. Business Overview
- 14.5.2. Key Revenue and Financials
- 14.5.3. Recent Developments
- 14.5.4. Key Personnel
- 14.5.5. Key Product/Services
- 14.6. D&L Oil Tools
- 14.6.1. Business Overview
- 14.6.2. Key Revenue and Financials
- 14.6.3. Recent Developments
- 14.6.4. Key Personnel
- 14.6.5. Key Product/Services
- 14.7. Interwell
- 14.7.1. Business Overview
- 14.7.2. Key Revenue and Financials
- 14.7.3. Recent Developments
- 14.7.4. Key Personnel
- 14.7.5. Key Product/Services
- 14.8. Coretrax
- 14.8.1. Business Overview
- 14.8.2. Key Revenue and Financials
- 14.8.3. Recent Developments
- 14.8.4. Key Personnel
- 14.8.5. Key Product/Services
- 14.9. Avalon Global Research,
- 14.9.1. Business Overview
- 14.9.2. Key Revenue and Financials
- 14.9.3. Recent Developments
- 14.9.4. Key Personnel
- 14.9.5. Key Product/Services
- 14.10. Peak Completion Technologies
- 14.10.1. Business Overview
- 14.10.2. Key Revenue and Financials
- 14.10.3. Recent Developments
- 14.10.4. Key Personnel
- 14.10.5. Key Product/Services
15. Strategic Recommendations
16. About Us & Disclaimer
