DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/m6xws4/top_drive_systems) has announced the addition of the "Top Drive Systems Market by Type, by Application, & by Geography - Global Trends & Forecasts to 2019" report to their offering.
The global top drive systems market is estimated to reach $1,835.84 million by 2019 at a projected CAGR of 7.6% during the forecast period, indicating a high demand in onshore and offshore applications. The market for electric top drive systems is estimated to reach a value of $1,646.66 million whereas for the hydraulic top drives is projected to reach $189.18 million by 2019.
Top drives are devices mounted on a drilling rig that provide rotational force to facilitate the process of drilling a wellbore; earlier rotary tables were used for the same purpose. Top drives are innovative technology based replacing the Kelly and rotary table systems, and are defined as a hydraulic or electrical motor suspended in the mast of the drilling rigs. They drive and rotate the drill string and bits, making drilling process easy. Top drives play a significant role in reducing hazards and the overall cost of drilling activities.
Growing drilling and exploration activities and increasing environmental regulations and norms related to safer oil exploration activities are expected to be the key drivers in increasing the usage of top drives globally. They will continue to be the predominantly used tools of drilling wells in the future. The biggest markets for top drives include North America, Europe, Asia Pacific, Africa, the Middle East, and South America.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 offshore Drilling Rig Market
8 Top Drive Systems Market, By Type
9 Top Drive Systems Market, By Application
10 Top Drive Systems Market, By Rig Type
11 Top Drive Systems Market, By Geography
12 Competitive Landscape
13 Company Profiles
- Aker Solutions As
- Axon Energy Products
- Bentec Gmbh Drilling & Oilfield Systems
- Cameron International Corporation
- Canrig Drilling Technology Limited
- Daqing Jinghong Petroleum Equipment Corporation
- Honghua Group Limited
- National Oilwell Varco(Nov)
- Panjin Liaohe Oilfield Tianyi Petroleum Equipment Company Limited
- Tesco Corporation
- Warrior Manufacturing Services Limited
For more information visit http://www.researchandmarkets.com/research/m6xws4/top_drive_systems