USD 1.24 Billion
Report ID:
SQMIG55F2079 |
Region:
Global |
Published Date: May, 2025
Pages:
191
|Tables:
93
|Figures:
76
Global Landing String Equipment Market size was valued at USD 1.24 Billion in 2023 and is poised to grow from USD 1.32 Billion in 2024 to USD 2.14 Billion by 2032, growing at a CAGR of 5.9% in the forecast period (2025-2032).
The global landing string equipment market is witnessing steady growth, driven by the increasing demand for offshore oil and gas exploration activities. As energy demand continues to rise, especially in developing regions, operators are intensifying deepwater and ultra-deepwater drilling efforts, which require highly specialized and robust equipment. Landing string systems are essential in facilitating safe and efficient well completions in challenging offshore environments, making them critical components of drilling operations. Additionally, advancements in rig technology and enhanced drilling safety standards are propelling the adoption of modern landing string solutions with greater load-bearing capacities and pressure-handling capabilities.
However, the market also faces several restraints. Volatility in global crude oil prices significantly impacts exploration budgets, often leading to delays or cancellations of offshore projects. Moreover, the high capital expenditure associated with offshore drilling infrastructure, including landing string equipment, poses a challenge for smaller operators. Environmental regulations and increasing scrutiny over offshore drilling activities further add to the complexity and cost of operations. Despite these challenges, the market is expected to maintain momentum, supported by ongoing investments in offshore reserves and technological innovations aimed at improving operational efficiency and safety.
Market snapshot - 2025-2032
Global Market Size
USD 1.24 Billion
Largest Segment
Deep Water
Fastest Growth
Deep Water
Growth Rate
5.9% CAGR
To get more reports on the above market click here to Buy The Report
The global Landing String Equipment Market is segmented on the basis of equipment type, application, and end-user. By equipment type, the market is segmented into lubricator valve, retainer valve, subsea test tree, shear sub, slick joint, and others. By application, the market is segmented into shallow water, deep water, and ultra-deepwater. By end-user, the market is segmented into oil & gas companies, oilfield service companies, and research & development institutions. By region, the market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
The lubricator valve segment holds the highest market share in the landing string equipment market as it is essential to maintain pressure control during well testing and completion activities. The increase in offshore deepwater activities has accelerated the overall need for high integrity pressure control equipment especially in high pressure wells. Ongoing emphasis on operational safety and efficiency drives the need for high integrity pressure control equipment. Increases in the design and durability of valves in extreme subsea conditions further fuel the market share growth of lubricator valves..
The drive subsea test trees has experienced the fastest growth due to increasing ultra-deepwater drilling projects and the need for immediate well isolation in the case of an unintentional event. Compact design and high reliability provide confidence to operators that their wells will be properly isolated during dynamic operations and allow for quick disconnects in high-risk environments that drive the demand for this segment. Continued innovation in technology and an overall need for stricter offshore safety regulations have and will continue to contribute to their uptake throughout new exploration zones.
The deepwater segment hold the highest share of the market for landing string equipment as exploration is still ongoing in locations like the Gulf of Mexico, Brazil, and West Africa. These regions offer adequate geology and established offshore infrastructure supporting exploration and development plans. Potential high on potential, the investments are further supported by favorable governmental policies for offshore development. Outside the legislative umbrella of favorable regulations, there have been advances in technical incorporation, and improvements in safety management, that have inhibited continued investment and exploration in deepwater. Deepwater exploration and development requires bulkier and more reliable landing string systems to stand up to the autonomous and processed environments they are executing their workplans in.
The ultra-deepwater segment is the fastest-moving section in this segment as leaders in offshore are now realizing new potential investment opportunities where there are untapped reserves below 1,500 meters. The demand for global energy is increasing and technological innovations in respective operations are enabling deepwater subsea work in extreme condition style work, which is now supporting higher performance-based landing strings systems in ultra-deepwater operations.
To get detailed analysis on other segments, Request For Free Sample Report
The market for landing string equipment in North America is being fueled by the regions continued emphasis placement on offshore oil and gas exploration, especially in the Gulf of Mexico. Significant investments in new deepwater and ultra-deepwater drilling projects is increasing demand for landing string systems that perform well under high pressure and load conditions. Emphasis from regulators on well safety and integrity is also driving operators to seek out new technologies for landing strings. The larger organizations in place, including drilling contractors and service providers in the region, is also helping to move the market along, as they continue to invest in new technology to deliver offshore energy. Further, the desire to become energy independent and take advantage of untapped offshore reservoirs is likely to continue to push the deployment of landing string technologies in offshore North American projects.
The US landing string equipment market is in a growth phase due availability of increasing offshore exploration plays in the U.S. There are 590 active rigs in the U.S., with 21 being offshore. This results in a healthy operational base for subsea operations. The North America region is also experiencing a rapid increase in deepwater drilling, especially in the Gulf of Mexico, which is driving the need for high-quality landing string systems. Landing string systems help to control a complex, high-pressure well, which is essential to modern offshore drilling. The continued need for safe and efficient well completions in extreme environments is reshaping industry direction and technology and pushing operators towards more advanced landing string; consequently; the North America market is maintaining healthy year on year growth.
The Canadian landing string equipment market is positioned to grow, driven by exploration efforts of offshore oil and gas around Canada. As land reserves are depleted, Canadian energy companies are investing in deepwater and ultra-deepwater development, requiring new landing string systems that can survive extreme load and pressure. Automation technology for hydraulic catwalks with real-time loads are also increasing levels of safety and efficiency that are stimulating demand. The development of unconventional reserves, such as tight oil and shale gas provides additional market opportunities for landing string equipment specifically for these emerging challenges.
The Asia Pacific region is anticipated to exhibit the highest growth rate during the forecast period, primarily due to increasing energy demand, outdated offshore infrastructure, and increased investments in the oil and gas sector. The International Energy Agency (IEA) indicates that energy demand in Southeast Asia has been growing at approximately 3% per year, on average, over the past two decades, and is projected to continue, on average, until 2030. Additionally, the Asia Pacific region accounts for approximately one-third of the world´s oil demand, and one quarter of the world´s gas demand. The huge increase in energy demand is increasing offshore drilling activity, which increase demand for landing string equipment in the Asia Pacific market.
The landing string equipment market in Japan is experiencing growth, supported by gains in maritime and defense technologies. In February 2025, Japan's Acquisition, Technology & Logistics Agency (ATLA) awarded a contract to BMT and Japan Marine United (JMU) to develop next-generation high-speed landing crafts for the Self-Defense Forces. With designs based on BMT's Caimen® platform and using an advanced tri-bow hull form, the landing crafts will all operate at higher speeds (3!). While no direct focus has been placed on landing string equipment development, the increased investment spending on modernizing offshore capabilities project a greater need to consider more high-performance forms of landing string equipment. Japan appears to be increasing investment spending on defense and maritime engineering with a greater emphasis on modernization into their current offshore infrastructure.
The landing string equipment market in South Korea is gaining traction as the nation increasingly focuses on offshore energy development. Large scale offshore wind developments are one key factor, most notably the MoU signed between LS Cable & System and Equinor on November 2024 for the 750-megawatt Firefly Floating Offshore Wind Project off the coast of Ulsan. This project demonstrates South Korea’s investment in their offshore wind capacity and will drive demand for strong and specialized offshore equipment, including landing string systems. The country's also strategic move towards energy diversification and technological progression in subsea capability are other positives for South Korea's market The developments are signalling an emerging South Korean player in market share for offshore infrastructure development.
The European landing string equipment market is growing steadily, driven by increased offshore oil and gas exploration activities in the North Sea. Energy demand is increasing, while supply is falling or maturing. Energy-producing nations in Europe have a goal of improving offshore infrastructure. This continued investment in offshore facilities is expected to drive demand for more sophisticated landing string equipment. Additionally, Europe is expanding the focus of renewable energies, notably wind energy projects such as offshore wind farms, which encourages specialized equipment for more complicated offshore environments. The market for landing string equipment is positively influenced by technological improvement in drilling and completion techniques, as well as by advancements in capacity, efficiency, and overall safety.
Germany's landing gear market is growing continuously, in part due to advances in aerospace engineering and major developments in sustainable aviation. The most significant event occurred in August 2022, when Deutsche Aircraft and HEGGEMANN AG announced the commercial readiness of a new landing gear system suitable for an entire family of Dornier 328 aircraft including a variant that supports sustainable aviation, the D328eco. The new landing gear is retrofittable for both the turboprop and jet variants which gives the operators significant flexibility to adapt the new landing gear if the aircraft is changed out in the future. Major growth factors for Germany’s landing gear system are a strong aerospace manufacturing sector in Germany, continued investments in regional and sustainable aviation technology and increasing flexible retrofittable landing gear for operators to operate in the future, at a relatively low cost if they need to replace an aircraft based on operational requirements, longevity and performance considerations.
The South Korea landing string equipment market is anticipated to experience steady growth as the offshore oil and gas exploration industry is growing, and drilling companies are prioritizing safety and operational efficiency. The South Korean government intends to improve its energy independence, which is driving investment and development of offshore oil and gas projects. For instance, a new East Sea gas field, is anticipated to improve the local economy and is expected to increase more than 20% production by 2023. With improved technology for deepwater drilling, equipment being developed, and modernization programs being initiated by the South Korean government for its coastline/offshore infrastructure are driving demand for landing string systems. Operators are more often compelled through stricter environmental regulations and operational safety directives to procure high-performance and durable landing string equipment.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Rising Deepwater and Ultra-Deepwater Drilling Activities
Stringent Safety and Regulatory Standards
High Capital and Maintenance Costs
Technological Complexity and Skill Gaps
Request Free Customization of this report to help us to meet your business objectives.
The South Korean landing string equipment market is underscored by a mix of global market players and emerging local innovators. Expro Group Holdings N.V., NOV, Inc. and TechnipFMC plc are the key participants with their subsea landing string systems for deepwater and ultra-deepwater applications. These companies are focused on automation and remote operation technologies to streamline operational efficiencies and improve safety. Additionaly, start-ups such as Perigee Aerospace are informing the development of the market with small scale launch systems being cost-effective, indicating a diversification of landing string equipment.
Start Ups and Developments
Perigee Aerospace: Built in 2018 and based in Daejeon. Perigee Aerospace is developing an orbital rocket named the Blue Whale 1 that is partially reusable and designed to deliver up to 170kg to a Sun-synchronous orbit. Perigee hopes to launch up to about 40 Blue Whale 1 rockets per year for up to US$3 million with its maiden flight now planned 2025.
Technological Advancements Driving Market Growth
Increasing Demand for Offshore Oil and Gas
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to research by SkyQuest, the global landing string equipment market is expanding due to the rising demand for offshore oil and gas exploration. Energy security is driving companies to find a competitive advantage in unconventional environments like deep and ultra-deep water, hence the innovation and development of advanced landing string systems. Companies such as Expro Holdings, National Oilwell Varco, and Schlumberger are investing heavily in automating and remote-control systems for operations; many of the many aspects of operations are being modernized to place a much greater emphasis on the safety of offshore operational activities and systems than ever before.
Technological advancements will be key to understanding the market's direction; companies that pursue AI-operated systems and real-time monitoring will be able to leverage these opportunities to gain a competitive edge driving down downtime while improving well performance and the safety and efficiency of all aspects of operations. As the environmental regulations are stricter, we will develop new and more advanced, sustainable energy-efficient dynamic structures to meet and go beyond what is required.
The demand for reliable and more high-performance landing string systems will continue to increase as areas like the East Sea (for example) receive an influx of oil and gas offshore drilling projects. As new entrants around the world focus on niche products and services, or where an underserved market opportunity can be pursued with a more specific product or service, there will be opportunities abound.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 1.24 Billion |
Market size value in 2032 | USD 2.14 Billion |
Growth Rate | 5.9% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Landing String Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Landing String Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Landing String Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Landing String Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
REQUEST FOR SAMPLE
Global Landing String Equipment Market size was valued at USD 1.24 Billion in 2023 and is poised to grow from USD 1.32 Billion in 2024 to USD 2.14 Billion by 2032, growing at a CAGR of 5.9% in the forecast period (2025-2032).
The South Korean landing string equipment market is underscored by a mix of global market players and emerging local innovators. Expro Group Holdings N.V., NOV, Inc. and TechnipFMC plc are the key participants with their subsea landing string systems for deepwater and ultra-deepwater applications. These companies are focused on automation and remote operation technologies to streamline operational efficiencies and improve safety. Additionaly, start-ups such as Perigee Aerospace are informing the development of the market with small scale launch systems being cost-effective, indicating a diversification of landing string equipment. 'Expro Holdings UK 2 Ltd.', 'National Oilwell Varco Inc.', 'Superior Energy Services Inc.', 'Vallourec SA', 'Yantai Enerserva Machinery Co. Ltd.', 'Enovate Systems Ltd.', 'Quail Tools', 'Schlumberger Ltd.', 'Thyssenkrupp AG', 'Technip FMC', 'Interventek Subsea Engineering.', 'Aker Solutions', 'Hilong Holding Limited', 'Optime Subsea', 'WellPartner AS', 'Quail Tools LP', 'Interventek Subsea Engineering', 'Vallourec SA', 'Thyssenkrupp AG', 'ExPert E&P Companies, LLC'
The growth of offshore exploration (especially in deepwater and ultra-deepwater regions) continues to create demand for high-quality landing string equipment. Offshore operations must contend with high-pressure and high-temperature (HPHT) systems, so landing strings must be able to withstand the extremes in HPHT systems. The demand for energy and depletion of shallow water deposits continue to spur the development of HPHT configurations which require landing string equipment.
New developments in automation and remote-controlled landing string systems have changed the whole game. These innovations provide efficiency, lower operational risk, and decrease the requirement for human intervention in deepwater and ultra-deepwater vessels. Many companies are also assessing the possibility for integrating AI-driven automatic monitoring systems to better leverage real-time data to streamline and confirm decision-making to enhance the efficiency of planned well operation.
Why is North America Leading Landing String Equipment Market in 2024?
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Feedback From Our Clients
Report ID: SQMIG55F2079
sales@skyquestt.com
USA +1 351-333-4748