Oil and Gas Packer Market Oil and Gas Packer Market

Oil and Gas Packer Market Key Players, Trends, Growth
Opportunities and Industry Forecast till 2025
“The factors that propel the growth of the market include
increasing applications of packer as a downhole tool,
increase in manufacture of shale oil and gas, growing
demand for energy driven by rapid economic growth and
industrialization, and increase in drilling activities to
fulfill the increasing need for fossil fuel.”
Global oil and gas packer market is anticipated to witness an exponential growth in the forecast period. Oil and
gas packers are cylindrical in shape, and are made up of a rubber-like material, which could be compressed as
and when required. The oil and gas packers seal the well walls, thereby stopping any vertical flow of fluid in that
section of the well.
The factors that propel the growth of the market include increasing applications of packer as a downhole tool,
increase in manufacture of shale oil and gas, growing demand for energy driven by rapid economic growth and
industrialization, and increase in drilling activities to fulfill the increasing need for fossil fuel. On the other hand,
there are factors that may hamper the growth of the market including variations in oil and gas charges. Oil and
gas packer market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product
types, and its applications are increasing across the globe.
Oil and gas packer market could be explored by type, application, and geography. Market could be explored by
type as Retrievable Packer and Permanent Packer. The key applications that could be explored in the market
include Natural Gas Industry, Oil Industry and Other.
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The “Retrievable Packers” segment led the market in 2017 and will continue to lead in the forecast period. The
key factors that may be attributed to the growth of market includes low cost of retrievable Packers than
Permeant packer and numerous installations during the well lifecycle.