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DUBLIN , Feb. 22, 2023 /PRNewswire/ -- The "Tubing Spools Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global tubing spools market size reached US$ 571.8 Million in 2021. Looking forward, the publisher expects the market to reach US$ 787.5 Million by 2027, exhibiting a CAGR of 5.48% during 2021-2027.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor. A tubing spool is a tool made using different metals, including carbon steel, stainless steel, and high manganese steel, for carrying out operations safely and smoothly. It comprises a test port, upper bowl, load shoulder, secondary seal area, lockdown screw, outlet, lower and upper flanges, and ring gasket groove.

It accommodates a wide range of tubing-string sizes for single- and multiple-string completion programs at minimum expenditure. Besides this, as it supports the tubing string on an oil well to connect with a tubing adapter on the top and helps seal the annular space between the casing and tubing, its sales are increasing around the world. Tubing Spools Market Trends: There is currently a surge in the demand for energy worldwide on account of rapid urbanization, rising global population and the growing dependence on electronics. As a result, governing agencies of numerous countries are increasingly investing in drilling and exploration activities.

This represents one of the key factors contributing to the growth of the tubing spools market. Besides this, the rising redevelopment of mature oil wells is also driving the overall sales. Moreover, leading players are introducing durable and efficient tubing spools to expand their market share.

For instance, Integrated Equipment, Inc. launched an extensive range of these spools with a straight bowl profile. Similarly, development of cloud-based visualization systems for oil and gas operators has increased the demand for tubing spools.

Apart from this, market players are engaging in mergers and acquisition (M&A) activities to retain a competitive edge in the market. Furthermore, the growing utilization of pipe and fittings in the chemical sector is expected to create a lucrative market outlook. Key Questions Answered in This Report:

Key Topics Covered: 1 Preface 2 Scope and Methodology 3 Executive Summary 4 Introduction 4.1 Overview 4.2 Key Industry Trends 5 Global Tubing Spools Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Forecast 6 Market Breakup by Type 6.1 Single Tubing 6.1.1 Market Trends 6.1.2 Market Forecast 6.2 Dual Tubing 6.2.1 Market Trends 6.2.2 Market Forecast 7 Market Breakup by Application 7.1 Onshore 7.1.1 Market Trends 7.1.2 Market Forecast 7.2 Offshore 7.2.1 Market Trends 7.2.2 Market Forecast 8 Market Breakup by End User 8.1 Well Testing 8.1.1 Market Trends 8.1.2 Market Forecast 8.2 Well Completion 8.2.1 Market Trends 8.2.2 Market Forecast 9 Market Breakup by Region 10 SWOT Analysis 11 Value Chain Analysis 12 Porters Five Forces Analysis 13 Price Analysis 14 Competitive Landscape 14.1 Market Structure 14.2 Key Players 14.3 Profiles of Key Players For more information about this report visit https://www.researchandmarkets.com/r/ycwlul-spools?w=5

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