Liner Hanger Industry Regional Synopsis
North American Market Forecast
North America industry is predicted to dominate majority revenue share of 35% by 2037, owing to the large consumption of petroleum and petroleum products. As per U.S. Energy Information Administration, the country has averagely utilized around 19.89 million barrels of petroleum each day. Also, the high demand for energy by the American population is another growth factor of the market in the region owing to its usage in the drilling process.
APAC Market Analysis
The Asia Pacific liner hanger market is set to hold 24% of the revenue share by the end of the projected timeframe. Asia Pacific is expected to observe a growth outlook in the coming years owing to the need to bridge the gap between the demand and supply of oil and oil products. In addition, the expanding oil and gas industries in China and India are also expected to propel the expansion of the market.
