Global Oilfield Catwalks Market Report to 2027: Industry Size, Share, Trends, Opportunities and Forecasts - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Oilfield Catwalks Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027: Segmented By Type (Mechanized, Hydraulic, Automated), By Location (Onshore, Offshore), By Application, By Region" report has been added to ResearchAndMarkets.com's offering.

Global oilfield catwalks market is anticipated to grow with an impressive CAGR value in the mentioned forecast years 2023-2027 on the account of maximizing output of the oil reservoirs. Surge in the demand for the oilfield excavation for effective oil output is further driving the growth of the global oilfield catwalk market in the upcoming five years.

Oilfield catwalks are pipe handling systems that are utilized for the transportation of tubular objects and ancillary equipment between surface and the drill floor. These are elongated platform which is planted adjacent to the rig floor where pipe is laid out and lifted into the derrick.

The machinery is often radio controlled from the drill floor with an integrated indexer. The equipment is usually 0.9 meters tall and is typically made up of steel. The oilfield catwalks are situated perpendicular to the inverted V-shaped opening called as vee-door.

The catwalks are a functional area for drilling tool activities, components, tools that are picked up or the ones already running and about to be laid down.

Surging Demand for Oil & Gas Drives Market Growth

Rapidly increasing demand for the oil and gas by automotive industry and other industries is driving the growth of the global oilfield catwalk market in the upcoming five years.

Also, surging demand for maximizing the excavation amount of the oil & gas from a particular reservoir is further driving the growth of the global oilfield catwalk market in the next five years.

According to BP statistical review of world energy 2021, global oil production in the year 2020, accounted for 88,391 thousand barrels per day. Out of which 16,476 barrels per day oil production was in the United States alone.

The increased oil production is in response to the rapidly surging demands for the same. To sustain such heavy loads of production every day, best equipment and efficient machinery is much required thereby supporting the growth of the global oilfield catwalk market in the future five years.

Also, surge in the demand for oil & gas excavation from the difficult reservoirs are further substantiating the growth of the global oilfield catwalk market in the forecast years, until 2027.

Companies Mentioned:

• Forum Energy Technologies Inc.
• National Oilwell Varco
• Bentec GmbH Drilling & Oilfield Systems
• Axiom Oilfield Solutions Ltd.
• Schlumberger Limited
• WYCE Innovations
• Weatherford International

Report Scope:

In this report, global oilfield catwalks market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Oilfield Catwalks Market, By Type:

• Mechanized
• Hydraulic
• Automated

Oilfield Catwalks Market, By Location:

• Onshore
• Offshore

Oilfield Catwalks Market, By Application:

• Rod Handling
• Productivity
• Cycle Time
• Rapid Rig-Up
• Wireless Control System

Oilfield Catwalks Market, By Region:

• North America
• United States
• Mexico
• Canada
• Europe
• France
• Germany
• United Kingdom
• Italy
• Spain
• Poland
• Denmark
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Singapore
• Malaysia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Turkey
• Iraq
• South America
• Brazil
• Argentina
• Colombia
• Peru
• Chile

For more information about this report visit https://www.researchandmarkets.com/r/mxbmcq-catwalks?w=4