The oilfield rotary table market analysis considers sales from both onshore and offshore application. In 2018, the onshore segment had a significant market share, and this trend is expected to continue over the forecast period.
Factors such as increasing oil and gas E&P activities especially in shale reserves will play a significant role in the onshore segment to maintain its market position. the global oilfield rotary table market report also looks at factors such as growing upstream oil and gas investments, rising global oil and gas demand, increasing global active rig count.
However, increasing adoption of top drive system-equipped drilling rigs, volatility in global crude oil prices, stringent regulations on environmental pollution from oil and gas E&P operations may hamper the growth of the oilfield rotary table industry over the forecast period.
Global Oilfield Rotary Table Market: Overview
Increasing global active rig count
Globally, oil and gas E&P activities are increasing with the gradual recovery in global crude oil prices. With crude oil prices rising, oil and gas companies are investing in oil and gas E&P projects to extract oil and gas from unexplored reserves and enhance production from existing oil and gas reservoirs and thus, increase their profits. Increasing drilling activities will lead to a rise in the demand for oil and gas drilling rigs. This increasing global active rig count will lead to the expansion of the global oilfield rotary table market at a CAGR of almost 6% during the forecast period.
Emergence of automated drilling rigs
The oil and gas industry have developed many automated oil and gas drilling rig technologies. For instance, Sekal AS, an international technology company, offers real-time dynamic monitoring and integrated drilling process automation in the oil and gas industry. The company provides DrillTronics, a powerful tool for enhancing the safety and efficiency of oil and gas drilling operations. The automation of drilling rigs will increase the efficiency of oil and gas drilling operations, and thus, oil and gas companies will prefer less expensive rotary table and kelly drive systems over top drive systems on drilling rigs. This development is expected to have a positive impact on the overall market growth.
With the presence of several major players, the global oilfield rotary table market is fragmented. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading oilfield rotary table manufacturers, that include Chengdu Zhonghang Machinery Co. Ltd., CMIC Ocean En-Tech Holding Co. Ltd., MHWirth AS, National Oilwell Varco Inc., RM Holding BV, and Schlumberger Ltd.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Market segmentation by application
- Comparison by application
- Onshore - Market size and forecast 2018-2023
- Offshore - Market size and forecast 2018-2023
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Emergence of automated drilling rigs
- Declining cost of raw materials
- Increase in deepwater and ultra-deepwater upstream projects
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Chengdu Zhonghang Machinery Co. Ltd.
- CMIC Ocean En-Tech Holding Co. Ltd.
- MHWirth AS
- National Oilwell Varco Inc.
- RM Holding BV
For more information about this report visit https://www.researchandmarkets.com/r/ablmdc