Increasing global energy demand spurred by rapid industrialization and economic growth is expected to be one of the major growth drivers of the global packer market. Rise in drilling activities to fulfill the growing need for fossil fuel would augment the demand for well completion equipment. Packer is a type of sealing device or flexible tool used to isolate and contain production fluids and pressure within the wellbore. It is made of an elastomeric material and placed just above the producing zone. Packer protects the casing and other important formations above and below the producing zone. It is designed to expand and grip the wall of the casing and form a seal between the inside of the casing and the outside of the tubing.
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There are two categories of packers, namely permanent packers and retrievable packers. A permanent packer can only be removed from a wellbore through milling. This type is fairly simple in nature and offers better performance than retrievable packers in operating conditions with extreme temperature and pressure. As the name suggests, a retrievable packer can be removed after the drilling operation, when the tubing is extracted from the wellbore. Complexity of a retrievable packer depends on its application (it can be highly complex for a high pressure and high temperature application or fairy simple for low pressure and low temperature application). Retrievable packers cost more than permanent packers due to the complexity of their design.
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Some of the key players in the market include Weatherford International Ltd., Halliburton Company, Baker Hughes Incorporated, Schlumberger Limited, Tryton Tool services, TIW Corporation, Map Oil Tools, Inc., Logan Completion Systems, Pinnacle Oil Tools Inc. and KazDuCo LLP.