The conditions/ environment of operation of top drive systems are not the same as it was a few decades ago owing to the dynamism of this market. Top drive system market is constantly evolving thus facilitating development of new technologies. Ever-changing technology combined with addition of new product lines are the major drivers for this industry.
Top drive system is a critical component for the O&G industry. Since past decade, the market is experiencing a rapid upsurge in terms of technological advancements, increasing automation in O&G fields, and integrating the entire value chain of the O&G industry. Moreover, huge investment in O&G industries in developing regions has further fueled the top drive system application across the world.
Reducing risk and increasing safety during the drilling process, top drives aids in eliminating most of manual labor activities which was previously required during drilling process. Many times, top drives are totally automated, and offers rotational control and maximum torque. This device also offers control over the weight on the bit.
The global market for Top drive was estimated to be $xx bn in 2015. The global market for top drive market is estimated to grow at a CAGR of xx% and is forecast to reach $xx bn by 2021. The electric top drive system are forecast to have the highest growth of x% during the forecast period 2016-2021. North America and Asia alone are estimated to occupy a share of more than xx% during 2016-2021.
North America is the leading market for Top Drive with the U.S. leading the charge. Asia region is forecast to have highest growth in the next few years due to growing adoption of top drive system in O&G industry. Asia top drive value market accounts to xx% of the global market for top drives and is the fastest growing market followed by Americas.
Future Development of Top Drive Technology:
If no further changes arise in the downhole technology, the Top Drive Systems will become major method of drilling offshore wells in the future. The onshore drilling industry will adopt this technology and Top Drive machinery will be developed to meet the specific requirements.
Maritime Hydraulics has launched a new Electric PTD (Portable Top Drive). This PTD is available with an alternative electric drive system. A new electric motor has been designed to be used along with the PTD which includes same dimensions as that of standard MH PTD. These new motors provide an effective control of torque and speed over a wide range. The size and weight of these motors is drastically reduces hence making them less bulky. The motors are more robust and rugged with fewer moving parts and are sealed from all environmental impacts.
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2. Executive Summary Mrdm Market Landscape
2.1. Market Share Analysis
2.2. Comparative Analysis
2.2.1. Product Benchmarking
2.2.2. End user Profiling
2.2.3. Top 5 Financials Analysis
3. Top Drive System Market-Forces
3.1. Market Drivers
3.2. Market Constraints & Challenges
3.3. Attractiveness of the Market
3.3.1. Power of Suppliers
3.3.2. Threats From New Entrants
3.3.3. Power of Buyer
3.3.4. Threat From Substitute Product
3.3.5. Degree of Competition
4. Top Drive System Market-Strategic Analysis
4.1. Top drive system Market - Value Chain Analysis
4.2. Pricing Analysis
4.3. Opportunity Analysis
4.4. Product Life Cycle
4.5. Suppliers and Distributors
5. By Types
5.2. Electric Top Drive
5.2.1. Fixed Electric
5.2.2. Portable electric
5.3. Hydraulic Top Drive
5.3.1. Fixed Hydraulic
5.3.2. Portable hydraulic
6. By End-User
7. By Application
7.3. Jackup Rig
8. Top Drive System Market-By Geography
8.3.2. South Korea
8.4. Rest of The World (ROW)
9. Top Drive System Market Market-Entropy
9.1. New Product Developments
9.2. Mergers and Acquisitions
10. Company Profiles
10.1. Aker Solutions
10.2. Cameron International Corporation
10.3. Honghua Group Limited
10.4. National Oilwell Varco, Inc.
10.5. Tesco Corporation
10.6. Axon Energy Products
10.7. Canadian Rig Ltd.
10.8. Triten Corp.
10.9. ESTec Oilfield Inc.
10.10. Tianyi Petroleum Equipment Company
10.11. GDS International, LLC
10.12. Nabors Industries Ltd.
10.13. JEREH INTERNATIONAL
10.14. Bournedrill Pty Ltd
10.15. Command Drilling Technologies Ltd
10.16. Petro Rigs, Inc
10.17. Svenska Kullagerfabriken AB (SKF)
*More than 40 Companies are profiled in this Research Report, Complete List available on Request*
"*Financials would be provided on a best efforts basis for private companies"