Landing String Equipment Market Regional Analysis

Why is North America Leading Landing String Equipment Market in 2024?

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.

US Landing String Equipment Market

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.

Canada Landing String Equipment Market

​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.

Why is Demand for Landing String Equipment Fueling Growth in Asia-pacific?

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.

Japan Landing String Equipment 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.

South Korea Landing String Equipment Market

​ 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.

How is Europe Maintaining its Dominance in Fluorochemicals Industry?

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 Landing String Equipment Market

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.

South Korea Landing String Equipment Market

​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.