Christmas Trees Market Size To Grow By USD 777.73 Million Between 2022 And 2027 Increase In Crude Oil Exploration Identified As Key Trend - Technavio

(MENAFN- PR Newswire) NEW YORK, March 21, 2023 /PRNewswire/ -- The global christmas trees market size is estimated to grow by USD 777.73 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 4.52% during the forecast period. The increase in crude oil exploration is identified as the key trend in the market. Christmas tree valves are widely used in the oil and gas industry. They provide numerous advantages such as controlling gas injection in non-producing or producing wells and preventing blockages. Many companies in the oil and gas industry are expanding their operations by investing in new projects. Thus, the increasing number of exploration activities and high investments in the crude oil sector worldwide will drive the growth of the market. For more insights on the historic period (2017 to 2021) and forecast market size (2023
to 2027)
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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
  
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Global Christmas Trees Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type (horizontal tree and vertical tree), location (onshore and offshore), and geography (North America, Europe, APAC, Middle East and Africa, and South America).

• The market growth in the horizontal tree segment will be significant during the forecast period. Horizontal trees are recognized as workover-friendly trees. This is because the valves are not located in the center of the wellbore, which allows easy tubing retrieval. In addition, technological advances are expected to drive the growth of the segment during the forecast period.

Geography Overview
By geography, the global Christmas trees market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global Christmas trees market.

• North America will account for 45% of the market growth during the forecast period. The increased exploration and production activities in the oil and gas industry in the US and China is driving the growth of the regional market. The presence of large recoverable shale reserves in the US is another key factor driving the growth of the Christmas tree market in North America.

Insights on the market contribution of various segments including country and region wise, historic period (2017 to 2021), and forecast market size (2023
to 2027)
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Global Christmas Trees Market
– Vendor Analysis

The global Christmas tree market is concentrated due to the presence of a few established players. The vendors are competing on various factors including price, quality, technology, brand, and variety. During the forecast period, several vendors are expected to expand their presence in traditionally low-penetrated markets such as developing countries. Some of the key players covered in the report include:

• Aker Solutions ASA
  - The company offers products such as Horizontal Trees, Vertical Trees, and Tubing head spool vertical trees for extreme temperature and pressure ranges.
• Baker Hughes Co.
  - The company offers subsea tree systems named Aptara lightweight compact tree, D Series for deep water, M Series for medium water, S Series for shallow water, and Subsea choke valves
• Dril Quip Inc.
  - The company offers products named as HorizontalBore Production Trees, Concentric-Bore Production Trees, Single-Bore Production Trees, Dual-Bore Production Trees, Subsea Flowline Manifolds, and Dry Tree Production Trees.
• Halliburton Co.
  - The company offers a product named Veto 6 Subsea Test Tree. It features orienting latch system, coiled tubing cutting capability, Halliburton high integrity tool joints, and mechanical unlatch ability.

Global Christmas Trees Market
– Market Dynamics

Key factors driving growth

• The market is driven by the growing demand for oil and natural gas.
• The consumption of oil and natural gas has increased significantly worldwide.
• For instance, according to the US EIA, global liquid fuel consumption increased by 1.4 million barrels per day in 2021.
• This growing demand has resulted in increased investments in the oil and gas industry.
• For instance, in July 2021, Abu Dhabi National Oil Company (ADNOC) announced its plans of investing up to USD 127 billion in the petroleum industry between 2022 and 2026 to expand its upstream and downstream operations.
• Many such investments in the oil and gas E&P activities will positively impact the growth of the global Christmas tree market during the forecast period.

Major challenges hindering growth

• Cost and time associated with maintenance are challenging the growth of the market.
• Refinery maintenance is a time-consuming process. It results in a halt in the production process, which hampers the revenues of operators.
• Hence, many refinery companies avoid frequent maintenance operations.
• Besides, increased oil and gas prices have compelled refinery companies to reduce their operational costs. This will negatively affect the demand for Christmas trees during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. find more insights in a sample report!

What are the key data covered in this Christmas trees market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Christmas trees market between 2023 and 2027
• Precise estimation of the size of the Christmas trees market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Christmas trees market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Christmas trees market vendors

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Christmas Trees Market Scope
Report Coverage	Details
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 4.52%
Market growth 2023-2027	USD 777.73 million
Market structure	Concentrated
YoY growth 2022-2023 (%)	4.25
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 45%
Key countries	US, Canada, Saudi Arabia, China, and Germany, Canada, Mexico, Italy, Spain, India, Japan, Australia, and South Korea
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Aker Solutions ASA, Baker Hughes Co., Delta Corp., Dril Quip Inc., Halliburton Co., Kingsa Industries (USA) Inc., NOV Inc., Schlumberger Ltd., Solar Alert Sdn Bhd, Stream Flo Industries Ltd., TechnipFMC plc, The Weir Group Plc, and Worldwide Oilfield Machine Inc.
Market dynamics	Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents:

1 Executive Summary

• 1.1 Market overview
  • Exhibit 01: Executive Summary – Chart on Market Overview
  • Exhibit 02: Executive Summary – Data Table on Market Overview
  • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
  • Exhibit 04: Executive Summary – Chart on Market by Geography
  • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
  • Exhibit 06: Executive Summary – Chart on Market Segmentation by Location
  • Exhibit 07: Executive Summary – Chart on Incremental Growth
  • Exhibit 08: Executive Summary – Data Table on Incremental Growth
  • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
  • Exhibit 10: Parent market
  • Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
  • Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
  
  • Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027
  
  • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
  • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
  • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
  • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global Christmas trees Market 2017 - 2021
  
  • Exhibit 18: Historic Market Size – Data Table on Global Christmas trees Market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021
  
  • Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Location Segment Analysis 2017 - 2021
  
  • Exhibit 20: Historic Market Size – Location Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
  
  • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
  
  • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
  • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers
  
  • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers
  
  • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants
  
  • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes
  
  • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
  • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
  • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
  • Exhibit 30: Chart on Type - Market share 2022-2027 (%)
  • Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
  • Exhibit 32: Chart on Comparison by Type
  • Exhibit 33: Data Table on Comparison by Type

• 6.3 Horizontal tree - Market size and forecast 2022-2027
  
  • Exhibit 34: Chart on Horizontal tree - Market size and forecast 2022-2027 ($ million)
  • Exhibit 35: Data Table on Horizontal tree - Market size and forecast 2022-2027 ($ million)
  • Exhibit 36: Chart on Horizontal tree - Year-over-year growth 2022-2027 (%)
  • Exhibit 37: Data Table on Horizontal tree - Year-over-year growth 2022-2027 (%)

• 6.4 Vertical tree - Market size and forecast 2022-2027
  
  • Exhibit 38: Chart on Vertical tree - Market size and forecast 2022-2027 ($ million)
  • Exhibit 39: Data Table on Vertical tree - Market size and forecast 2022-2027 ($ million)
  • Exhibit 40: Chart on Vertical tree - Year-over-year growth 2022-2027 (%)
  • Exhibit 41: Data Table on Vertical tree - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type
  
  • Exhibit 42: Market opportunity by Type ($ million)

7 Market Segmentation by Location

• 7.1 Market segments
  • Exhibit 43: Chart on Location - Market share 2022-2027 (%)
  • Exhibit 44: Data Table on Location - Market share 2022-2027 (%)

• 7.2 Comparison by Location
  
  • Exhibit 45: Chart on Comparison by Location
  • Exhibit 46: Data Table on Comparison by Location

• 7.3 Onshore - Market size and forecast 2022-2027
  
  • Exhibit 47: Chart on Onshore - Market size and forecast 2022-2027 ($ million)
  • Exhibit 48: Data Table on Onshore - Market size and forecast 2022-2027 ($ million)
  • Exhibit 49: Chart on Onshore - Year-over-year growth 2022-2027 (%)
  • Exhibit 50: Data Table on Onshore - Year-over-year growth 2022-2027 (%)

• 7.4 Offshore - Market size and forecast 2022-2027
  
  • Exhibit 51: Chart on Offshore - Market size and forecast 2022-2027 ($ million)
  • Exhibit 52: Data Table on Offshore - Market size and forecast 2022-2027 ($ million)
  • Exhibit 53: Chart on Offshore - Year-over-year growth 2022-2027 (%)
  • Exhibit 54: Data Table on Offshore - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Location
  
  • Exhibit 55: Market opportunity by Location ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview
  
  • Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation
  
  • Exhibit 57: Chart on Market share by geography 2022-2027 (%)
  • Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison
  
  • Exhibit 59: Chart on Geographic comparison
  • Exhibit 60: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
  
  • Exhibit 61: Chart on North America - Market size and forecast 2022-2027 ($ million)
  • Exhibit 62: Data Table on North America - Market size and forecast 2022-2027 ($ million)
  • Exhibit 63: Chart on North America - Year-over-year growth 2022-2027 (%)
  • Exhibit 64: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
  
  • Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ million)
  • Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
  • Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
  • Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
  
  • Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
  • Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
  • Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
  • Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027
  
  • Exhibit 73: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
  • Exhibit 74: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
  • Exhibit 75: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
  • Exhibit 76: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
  
  • Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
  • Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
  • Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
  • Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
  
  • Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
  • Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
  • Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
  • Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
  
  • Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
  • Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
  • Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
  • Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
  
  • Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
  • Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
  • Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
  • Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Saudi Arabia - Market size and forecast 2022-2027
  
  • Exhibit 93: Chart on Saudi Arabia - Market size and forecast 2022-2027 ($ million)
  • Exhibit 94: Data Table on Saudi Arabia - Market size and forecast 2022-2027 ($ million)
  • Exhibit 95: Chart on Saudi Arabia - Year-over-year growth 2022-2027 (%)
  • Exhibit 96: Data Table on Saudi Arabia - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027
  
  • Exhibit 97: Chart on Canada - Market size and forecast 2022-2027 ($ million)
  • Exhibit 98: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
  • Exhibit 99: Chart on Canada - Year-over-year growth 2022-2027 (%)
  • Exhibit 100: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography
  
  • Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges
  
  • Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
  • Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
  • Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks
  • Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
  • Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors
  
  • Exhibit 107: Matrix on vendor position and classification

• 12.3 Aker Solutions ASA
  • Exhibit 108: Aker Solutions ASA - Overview
  • Exhibit 109: Aker Solutions ASA - Business segments
  • Exhibit 110: Aker Solutions ASA - Key news
  • Exhibit 111: Aker Solutions ASA - Key offerings
  • Exhibit 112: Aker Solutions ASA - Segment focus

• 12.4 Baker Hughes Co.
  • Exhibit 113: Baker Hughes Co. - Overview
  • Exhibit 114: Baker Hughes Co. - Business segments
  • Exhibit 115: Baker Hughes Co. - Key news
  • Exhibit 116: Baker Hughes Co. - Key offerings
  • Exhibit 117: Baker Hughes Co. - Segment focus

• 12.5 Delta Corp.
  • Exhibit 118: Delta Corp. - Overview
  • Exhibit 119: Delta Corp. - Product / Service
  • Exhibit 120: Delta Corp. - Key offerings

• 12.6 Dril Quip Inc.
  • Exhibit 121: Dril Quip Inc. - Overview
  • Exhibit 122: Dril Quip Inc. - Business segments
  • Exhibit 123: Dril Quip Inc. - Key news
  • Exhibit 124: Dril Quip Inc. - Key offerings
  • Exhibit 125: Dril Quip Inc. - Segment focus

• 12.7 Halliburton Co.
  • Exhibit 126: Halliburton Co. - Overview
  • Exhibit 127: Halliburton Co. - Business segments
  • Exhibit 128: Halliburton Co. - Key news
  • Exhibit 129: Halliburton Co. - Key offerings
  • Exhibit 130: Halliburton Co. - Segment focus

• 12.8 Kingsa Industries (USA) Inc.
  
  • Exhibit 131: Kingsa Industries (USA) Inc. - Overview
  • Exhibit 132: Kingsa Industries (USA) Inc. - Product / Service
  • Exhibit 133: Kingsa Industries (USA) Inc. - Key offerings

• 12.9 NOV Inc.
  • Exhibit 134: NOV Inc. - Overview
  • Exhibit 135: NOV Inc. - Business segments
  • Exhibit 136: NOV Inc. - Key offerings
  • Exhibit 137: NOV Inc. - Segment focus

• 12.10 Schlumberger Ltd.
  • Exhibit 138: Schlumberger Ltd. - Overview
  • Exhibit 139: Schlumberger Ltd. - Business segments
  • Exhibit 140: Schlumberger Ltd. - Key news
  • Exhibit 141: Schlumberger Ltd. - Key offerings
  • Exhibit 142: Schlumberger Ltd. - Segment focus

• 12.11 Solar Alert Sdn Bhd
  • Exhibit 143: Solar Alert Sdn Bhd - Overview
  • Exhibit 144: Solar Alert Sdn Bhd - Product / Service
  • Exhibit 145: Solar Alert Sdn Bhd - Key offerings

• 12.12 Stream Flo Industries Ltd.
  
  • Exhibit 146: Stream Flo Industries Ltd. - Overview
  • Exhibit 147: Stream Flo Industries Ltd. - Product / Service
  • Exhibit 148: Stream Flo Industries Ltd. - Key offerings

• 12.13 TechnipFMC plc
  • Exhibit 149: TechnipFMC plc - Overview
  • Exhibit 150: TechnipFMC plc - Business segments
  • Exhibit 151: TechnipFMC plc - Key offerings
  • Exhibit 152: TechnipFMC plc - Segment focus

• 12.14 The Weir Group Plc
  • Exhibit 153: The Weir Group Plc - Overview
  • Exhibit 154: The Weir Group Plc - Business segments
  • Exhibit 155: The Weir Group Plc - Key news
  • Exhibit 156: The Weir Group Plc - Key offerings
  • Exhibit 157: The Weir Group Plc - Segment focus

• 12.15 Worldwide Oilfield Machine Inc.
  
  • Exhibit 158: Worldwide Oilfield Machine Inc. - Overview
  • Exhibit 159: Worldwide Oilfield Machine Inc. - Product / Service
  • Exhibit 160: Worldwide Oilfield Machine Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist
  
  • Exhibit 161: Inclusions checklist
  • Exhibit 162: Exclusions checklist

• 13.3 Currency conversion rates for US$
  
  • Exhibit 163: Currency conversion rates for US$

• 13.4 Research methodology
  • Exhibit 164: Research methodology
  • Exhibit 165: Validation techniques employed for market sizing
  • Exhibit 166: Information sources

• 13.5 List of abbreviations
  
  • Exhibit 167: List of abbreviations

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