Hydraulic Casing Jacks Market Size, Share, Growth, Trends, and Forecast 2030

The global hydraulic casing jacks market size accrued earnings worth approximately USD 630.56 Million in 2022 and is predicted to gain revenue of about USD 931.62 Million by 2030, is set to record a CAGR of nearly 5.0% over the period from 2023 to 2030.

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Global Hydraulic Casing Jacks Market: Overview

A jack is a multipurpose tool that is been used to lift heavy loads with the use of force. Hydraulic casing jacks are used to lower and/or lift heavy strings of tubing, casing, or drill pipe. Hydraulic fluid is been used as the main power source in hydraulic casing jacks. It consists of pair of cylinders that are of different sizes which are connected by pipe and hydraulic fluid or oil.

Global Hydraulic Casing Jacks Market: Growth Factors

The global hydraulic casing jacks market is growing at a lucrative rate. Rapidly growing industrialization, an increase in government regulations, and the growing use of hydraulic casing jacks in the drilling equipment sector are the prime factors that are propelling the growth of the global hydraulic casing jacks market. Hydraulic casing jacks enable to hoist heavier loads higher and are likely to be stronger. Thus, they have a wide range of applications in numerous industries such as retail, waste removal, mining, shipping, and automotive. Since hydraulic casing jacks with a small amount of force can lift heavier loads smoothly at a greater height, it is an extremely useful tool in mining industries. It conducts the operations safer, simpler, and faster. This helps to reduce the labor cost as well. They seem to be an ideal tool as they are durable and robust. All these factors are combinedly adding up to the rise in usage of hydraulic casing jacks on a large scale. This is fostering the growth of the global market.

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Moreover, the growing rental services on hydraulic casing jacks, the requirement of effective work in less amount of time in industries, and growing labor cost are also the key aspects that are spurring the growth of the market. Furthermore, an increase in technological advancements to enhance the efficacy of the hydraulic casing jacks is likely to open numerous opportunities for the growth of the global hydraulic casing jacks market over the forecast period. However, lack of skilled labor and high installation cost are some of the aspects that may hinder the growth of the global hydraulic casing jacks market.

With the current onset of the COVID-19 pandemic, many businesses around the world facing a decline in overall revenue generated in the year 2020. The global hydraulic casing jacks market also faced the severe hit of COVID-19 pandemic situations owing to a decline in demand from major end-users. Major applications of hydraulic casing jacks are in the oil & gas, construction, and mining industry. All these sectors were heavily affected during the pandemic situation. However, the market is expected to gain momentum over the forecast period.

Hydraulic Casing Jacks Market: Report Scope

Global Hydraulic Casing Jacks Market: Segmentation

The scope of the global hydraulic casing jacks market is categorized into loading capacity, application, end-use, sale channel, and region.

The loading capacity of hydraulic casing jacks is segmented as less than 100 tons, 100 tons - 200 tons, 200 tons - 300 tons, 300 tons - 400 tons, 400 tons - 500 tons, and more than 500 tons.

Various applications of hydraulic casing include onshore and offshore.

Based on end-use, the market is categorized into the oil & gas industry, construction industry, mining industry, and others. Considering the sale channels, the market is divided into OEM and aftermarket.

Global Hydraulic Casing Jacks Market: Regional Analysis

Asia Pacific is expected to remain the largest market in the global hydraulic casing jacks market in terms of market share over the forecast period. Some of the major factors that are contributing to the large share of the market include growing demand for hydraulic casing jacks from large automobile, construction, and mining industry in the industry. India, China, Japan, and South Korea are expected to be the top revenue collector during the forecast period. North America is expected to register significant growth in the global hydraulic casing jacks market over the forecast period. Growing emphasis on expansion of oil & mining, automobile, and construction industry is expected to drive the market in this region. The hydraulic casing jacks market in Europe is projected to grow at a steady rate over the forecast period.

Global Hydraulic Casing Jacks Market: Competitive Players

Major players in the global hydraulic casing jacks market are focusing on product improvement through updates to stay competitive in the market. Some of the key players in the market include

• CASINJAC
• Atlas Manufacturing
• Ardy Rigging
• Vandec Industrial Hydraulics
• Hanzik Hydraulics
• Starline
• Archway Engineering
• Sumitomo Corporation
• L. Martin
• ITC Hydraulic Services
• Balance Point Control.

Global Hydraulic Casing Jacks Market: Segment Analysis

By Type

• Less Than 100 Tons
• 100 To 300 Tons
• 300 To 500 Tons
• More Than 500 Tons

By Application

• Oil and Gas
• Construction
• Mining
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.