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Landing String Equipment Market Report Overview
The global landing string equipment market attained a value of USD 359.26 Million in 2025 and is projected to expand at a CAGR of 7.10% through 2035. The market is further expected to achieve USD 713.35 Million by 2035, driven by growing subsea well intervention, deepwater exploration and the need for modular landing string tools that improve seal performance and pressure management.
Key Market Trends and Insights
- Deep Water, the largest application, is backed by rising output from deepwater fields, with Petrobras reporting in July 2026 record oil and gas production of 3.34 MMboed for the three months ended June 2026, as new floating production units including P-79 at the Buzios field ramped up.
- Ultra-Deep Water is expected to witness rapid growth, and Transocean won a contract in August 2026 to deploy its ultra-deepwater drillship Dhirubhai Deepwater KG2 for India's ONGC, worth about USD 300 million including services and mobilisation fees, with drilling due to start in early 2027.
- Latin America, the fastest-growing regional market, is adding subsea well access work, with Expro reporting in July 2026 that it won two three-year contracts in Brazil for subsea landing string and tubular running services, alongside cementing accessories.
Market Size & Forecast
- Market Size in 2025: USD 359.26 Million
- Projected Market Size in 2035: USD 713.35 Million
- CAGR from 2026 to 2035: 7.10%
- Fastest-Growing Regional Market: Latin America
Rig demand underpins the market, because landing strings are used when floating rigs install and intervene in subsea wells. Seadrill reported in August 2026 revenue of USD 449 million for the three months ended June 2026, up from USD 358 million in the previous quarter, with an average of 10 rigs on contract and economic utilisation of 95.5%, and it raised its 2026 revenue guidance to USD 1.50 billion to USD 1.55 billion. Higher rig utilisation raises demand for landing string rental, inspection and running services.
Government exploration programmes widen the number of wells that need landing strings. India's ONGC spudded the exploratory well MN-DW18-1-H-D in the Mahanadi Offshore Basin off Odisha in July 2026 under the Samudra Manthan campaign, and the government said eastern and western offshore basins with water depths up to 3,000 metres hold an estimated 5,600 MMTOE of hydrocarbons, with nearly one million square kilometres of previously restricted offshore areas opened for upcoming licensing rounds. Each deep and ultra-deepwater well adds potential demand for landing string rental, running and inspection services.
Contract backlog at drilling contractors signals future well activity. Transocean reported in August 2026 net income of USD 170 million for the three months ended June 2026 and a backlog of USD 6.7 billion after five new contracts worth about USD 292 million, and its chief executive projected utilisation of deepwater and harsh-environment assets in the 90 per cent range during 2027. A longer backlog gives service companies more visibility when planning landing string fleets, crews, inspection schedules and replacement purchases over the following several years.
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Key Trends and Recent Developments
TotalEnergies completed a licence transaction with Galp in September 2026 and became operator of the Mopane discovery in PEL 83 offshore Namibia, holding 40% alongside Galp with 40%, Namcor with 10% and Custos with 10%. A three-well appraisal campaign is planned ahead of a final investment decision targeted for 2028. Companies can leverage frontier appraisal programmes to introduce landing string and subsea well access services before development contracts are awarded.
Spirit Energy reported in August 2026 that it completed a campaign, run from April to July 2026 at a cost of about GBP 40 million, to plug and abandon three subsea wells in the Southern North Sea: Seven Seas, Grove G5 and Grove Deep. More than 234 tonnes of subsea infrastructure were removed. Companies can leverage abandonment programmes to offer well access and tubular handling for late-life subsea wells.
Expro said in June 2026 that it secured an extension of up to five years to its Gulf of America subsea completion and intervention contract with a long-standing customer it did not name. The scope covers Subsea Landing String Services and its Solus shear and seal valve, adding well integrity protection. Companies can leverage long-term operator relationships to place newer well barrier technology within landing string packages.
Eni took final investment decisions in March 2026 on the North Hub, covering Geng North and Gehem, and the South Hub, covering Gendalo and Gandang, offshore East Kalimantan in water depths of roughly 1,000 to 2,000 metres. The hubs target up to 2 Bcf/d of gas, with start-up targeted for 2028. Companies can leverage deepwater gas hub developments to secure subsea completion and intervention work early.
National Oilwell Varco Inc. Holds Revenue Near USD 2.1 Billion as Offshore Wins Build
National Oilwell Varco Inc. reported in July 2026 revenue of USD 2.13 billion for the three months ended June 2026, up 4% on the previous quarter and down 2% year on year, with net income of USD 112 million and adjusted EBITDA of USD 283 million. It guided to revenue flat to up 2% year on year for the three months ending September 2026. Companies can leverage short-cycle offshore activity to protect margins.
Vallourec SA Wins Offshore Awards and Licenses Goldilocks Subsea Insulation
Vallourec SA said in July 2026, with results for the three months ended June 2026, that offshore tendering remained robust and bookings strengthened, with awards for Petrobras' Atapu-2 project offshore Brazil and ExxonMobil's Hammerhead and Longtail projects in Guyana. It also became the first commercial licensee of ExxonMobil's Goldilocks subsea insulation technology. Companies can leverage offshore tubular awards and licensed technology to secure multi-year supply and service positions.
Schlumberger Ltd Reports Offshore Growth Outside the Middle East
Schlumberger Ltd, trading as SLB, reported in July 2026 revenue of USD 8.97 billion for the three months ended June 2026, up 5% year on year, with net income of USD 786 million and adjusted EBITDA of USD 1.90 billion. Its chief executive said conflict had increased focus on supply diversification, reinforcing the strategic importance of deepwater. Companies can leverage deepwater momentum outside the Middle East to broaden offshore service portfolios.
Expro Raises 2026 Revenue Guidance After Over USD 250 Million of Awards
Expro reported in July 2026 revenue of USD 393 million and adjusted EBITDA of USD 76 million for the three months ended June 2026, and lifted full-year 2026 revenue guidance to USD 1,650 million to USD 1,700 million from USD 1,600 million to USD 1,650 million. Contract awards in its ESSA region topped USD 250 million during the period. Companies can leverage a growing award book to plan equipment fleets ahead of delivery.
Landing String Equipment Industry Segmentation
This Expert Market Research's Report titled "Global Landing String Equipment Market Report and Forecast 2026-2035" offers a detailed analysis of the market based on the following segments:
Market Breakup by Application
- Deepwater
- Ultra-Deepwater
- Shallow Water
- Others
Key Insight: Deep Water is the largest application, and SLB OneSubsea was awarded an engineering, procurement, construction and installation contract in March 2026 for the Kikeh Phase 2 3B deepwater development offshore Malaysia, in water depths of 1,300 to 1,400 metres; Ultra-Deep Water is expected to grow rapidly, with Azule Energy taking a final investment decision in June 2026 on the USD 5.1 billion Greater PAJ project in Blocks 31 and 31/21 offshore Angola, in water depths of up to about 2,000 metres; Shallow Water remains steady, and Borr Drilling received in April 2026 a binding letter of award from BW Energy for its Prospector 5 jackup to drill four wells offshore Gabon over a minimum of 320 days; and Others covers well decommissioning and intervention duties, where Hornbeck Offshore won in September 2026 a firm two-year North Sea contract for riserless plug and abandonment well decommissioning.
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Key Insight: North America leads, and the Bureau of Ocean Energy Management's Big Beautiful Gulf 2 lease sale in March 2026 drew USD 46.98 million in high bids for 25 blocks from 13 companies; Europe is advancing subsea gas development, with an investment of just over NOK 4 billion set out in June 2026 for TWIN, the third step of Troll phase 3, a two-well subsea template targeting production from 2028; Asia Pacific is expanding deepwater supply, with CNOOC awarding SLB OneSubsea in March 2026 a 20-well contract for the Kaiping 18-1 development in the South China Sea; Latin America is the fastest-growing region, and Eni granted Borr Drilling in April 2026 a six-month extension for the Ran jackup in Mexico, keeping it active through September 2026; and the Middle East and Africa is adding deepwater capacity, with SLB OneSubsea awarded in July 2026 a 13-well subsea production systems contract by Eni for Baleine Phase 3 offshore Cote d'Ivoire.
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If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
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Landing String Equipment Market Share
By Application, Deep Water leads the market while Ultra-Deep Water grows fastest because deepwater wells need heavy-duty tubulars to land subsea equipment, while ultra-deepwater drilling expansion calls for high-strength, corrosion-resistant assemblies.
Deep Water leads because deepwater completions and interventions routinely depend on landing strings that carry subsea trees and well control equipment through the riser, and operators keep adding exploration capacity in these depths. ONGC launched DeepX, its deepwater exploration mission centre, in Mumbai in January 2026, and that programme feeds a growing pipeline of Indian offshore wells that will need rental fleets, trained crews, pressure testing and certified running services from specialist providers across many of the coming drilling seasons.
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Ultra-Deep Water grows fastest because deeper wells call for high-strength alloys and corrosion-resistant assemblies, with landing string configurations customised for each well. TotalEnergies and Galp said in January 2026 that planning is under way to support a possible final investment decision on the Venus project offshore Namibia in 2026, with Galp taking interests in licences PEL 56 and PEL 91, which keeps frontier deepwater activity in the Orange basin moving and keeps suppliers of tubulars and well control equipment engaged.
Landing String Equipment Market Regional Analysis
North America is the dominant regional market for landing string equipment, helped by mature offshore infrastructure and a deep base of subsea wells, while Latin America is the fastest-growing region as deepwater field developments expand.
This is supported by Seadrill's August 2026 disclosure that its West Vela rig won a one-year contract in the U.S. Gulf starting in 2027, adding about USD 161 million to backlog. Floating rigs working in the Gulf of America complete and intervene in subsea wells with landing string assemblies, so a contract of this length gives rental fleets and service crews a visible workload and supports steady replacement and recertification of equipment across the whole region for operators.
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Latin America grows fastest on offshore field developments, and National Oilwell Varco Inc. reported in July 2026 drill pipe awards from offshore projects in Brazil and Suriname, plus piping for a Suriname floating production unit. Europe, Asia Pacific and the Middle East and Africa follow with deepwater and subsea development, decommissioning and appraisal work, while the United States of America and Canada anchor North America with a long-established subsea installed base and a steady need for recertified landing string equipment.
Competitive Landscape
The global landing string equipment market is moderately fragmented, with a few large oilfield service groups and tubular makers offering landing string assemblies and subsea well access alongside specialist rental, machining and regional suppliers serving offshore operators and drilling contractors.
Competitive dynamics are increasingly shaped by well integrity technology, pressure rating and certification, the ability to supply fleets and crews across several basins, relationships with operators on long-term subsea programmes, and the pace at which suppliers add digital monitoring and modular designs to their landing string ranges.
Schlumberger Ltd
Schlumberger Ltd trades as SLB and, through its OneSubsea venture with Aker Solutions and Subsea7, supplies subsea production systems. In May 2026 OneSubsea completed the acquisition of the subsea business of Norway-based Envirex Group AS, adding umbilical-less and wireless subsea technologies and widening the portfolio and the consistent global support available to offshore operators worldwide.
National Oilwell Varco Inc.
National Oilwell Varco Inc. supplies drilling, rig automation and subsea pipeline connection equipment. In its July 2026 results it reported orders rising to USD 474 million from USD 420 million a year earlier in the three months to June 2026, and a capital equipment backlog of USD 4.08 billion at the end of June 2026, which it said is supported by a growing pipeline of opportunities.
Expro Holdings UK 2 Ltd.
Expro Holdings UK 2 Ltd. is the entity listed here for Expro, which offers subsea well access including ELSA landing string assemblies. In February 2026 Expro launched Solus, a single valve giving both shear and seal on wire and coiled tubing, offered in-riser within ELSA landing strings, in subsea test trees and in its open water intervention riser system, and tested to API Std 17G.
Vallourec SA
Vallourec SA makes tubes for energy markets. In results for the three months ended March 2026, covered in May 2026, it posted consolidated EBITDA of USD 220 million at a 22.6% margin, with Tubes EBITDA of USD 196 million, up 14%, and South America tubes revenue of USD 137 million, up 6%, and it announced a geothermal contract with Fervo Energy.
Other key players in the landing string equipment market include Superior Energy Services Inc., Enovate Systems Ltd, and Yantai Enerserva Machinery Co. Ltd., among others.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Key Highlights of the Landing String Equipment Market Report
- The global landing string equipment market was valued at USD 359.26 Million in 2025 and is projected to grow at a CAGR of 7.10% through 2035, reaching around USD 713.35 Million.
- Deep Water, Ultra-Deep Water, Shallow Water and Others make up the application segmentation, with Deep Water holding the largest share and Ultra-Deep Water expected to grow rapidly.
- North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa define the regional landscape, with North America dominant and Latin America the fastest-growing region.
- Growing subsea well intervention and deepwater exploration are accelerating demand for modular landing string tools that improve seal performance and pressure management.
- Participants including Schlumberger Ltd, National Oilwell Varco Inc., Expro Holdings UK 2 Ltd., and Vallourec SA are active across subsea well access, tubulars and offshore well construction.
Why Rely on Expert Market Research?
- In-depth, segment-level analysis of the global landing string equipment market across application and regional dimensions.
- Research grounded in verified, up-to-date industry data and company-level developments across the offshore well construction value chain.
- Clear coverage of competitive dynamics, deepwater activity, and subsea intervention trends shaping landing string equipment demand.
- Actionable insights designed to support product planning, partnership strategy, and go-to-market decisions for landing string equipment market participants.
- A dedicated team of analysts providing ongoing support and customization for landing string equipment market research requirements.
Call to Action
For a detailed assessment of opportunities across the landing string equipment market's application and regional segments through 2026 and beyond, connect with Expert Market Research for a customized consultation.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Frequently Asked Questions About This Report
The landing string equipment market is projected to grow at a CAGR of 7.10% from 2026 to 2035.
The market is being driven by rapid innovations in landing string technology, increased demand for landing string optimisation for use in subsea wells, enhanced well control during poor weather conditions, and reduced operational expenditures.
Key trends like the recovery of global crude oil prices and the prospect of increased disposable incomes are projected to aid the market during the forecast period.
The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major applications include deep water, ultra-deep water, and shallow water, among others.
Key players in the landing string equipment market include Schlumberger Ltd, National Oilwell Varco Inc., Superior Energy Services Inc., Enovate Systems Ltd, Yantai Enerserva Machinery Co. Ltd., Expro Holdings UK 2 Ltd., and Vallourec SA.
The global landing string equipment market attained a value of USD 359.26 Million in 2025.
Key challenges include the swings in offshore capital spending that follow oil price volatility, the cost and long certification cycles of high-pressure and corrosion-resistant assemblies, the limited number of floating rigs and skilled crews available for subsea operations, and the logistics of moving heavy tubular fleets between basins.
Key strategies include launching modular designs and well barrier technology, signing multi-year subsea service contracts with operators, adding digital pressure monitoring and diagnostics, building regional rental fleets close to deepwater basins, and acquiring complementary subsea businesses.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
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Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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