The Global Hydraulic Tubing Anchor Market Continues To Grow Owing To the Demand for Increased Extraction of Oil and Natural Gas

 

Hydraulic Tubing Anchor Market

A hydraulic tube anchor is a device that can be mounted on the front of a pipeline or other pipe to prevent soil, sludge, or other sediments from entering into the pipe fitting. This device is usually fitted onto the front end of the pipe and acts as a weight. This device acts by counteracting the natural pulling force of gravity so that it causes the soil to move away from the pipe fitting. Hydraulic tubing is made of several different materials including iron, plastic, PVC, polyethylene, and others. All these materials have their own properties that make them ideal for use in making hydraulic pipe fittings. Owing to all the characteristics of the hydraulic tubing anchor, its usage in the extraction of oil and gas is increasing and creating a significant demand in the hydraulic tubing anchor market. For instance, according to the Organization of the Petroleum Exporting Countries (OPEC), around 97,103,871 barrels of oil are used daily.

Plastic tubing is an excellent material because plastic pipes are known for being very durable. Another reason why plastic pipe fittings are ideal for use as an anchor is that they are flexible. This means that depending on the kind of pipe fitting, the plastic pipe can be made into the right shape and diameter at manufacture. The flexibility also makes it possible for manufacturers to produce different diameters of pipes by simply altering the physical attributes of the plastic pipe. The hydraulic tubing anchor is an easy-to-install device and can extract oil from wells very easily and this is creating a requirement in the hydraulic tubing anchor market. However, the installation cost of the hydraulic tubing anchor can be high sometimes, and skilled installation can be a little tricky, these have the proximity to influence the global hydraulic tubing anchor market negatively.

In North America, the oil demand is huge and various oil manufacturing industries have chosen the region as the base of their corporate activities, which is creating a huge demand in the hydraulic tubing anchor market of the region. For instance, according to U.S. Energy Information Administration (EIA), in 2019, around 2.83 billion barrels of crude oil were produced in the U.S. from the region's tight oil resources. Moreover, the authoritarian bodies of the region have also launched various policies for easy extraction of oil and have created an accessible market for the rising consumerism of oil and gas, resulting in propulsion in the hydraulic tubing anchor market. The hydraulic tubing anchor market in the Middle East is also experiencing huge demand, owing to the prevalence of huge oil resources in the region. Owing to all these factors, there have been various industrial developments in the hydraulic tubing anchor market. For instance, in January 2019, the Tube fittings Division of Parker Hannifin allied with Precision Fitting and Gauge, as a new member of the Certified Compressed Natural Gas Distributor Program.


Location: India

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