+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Global Workover Rigs Market 2019-2023 - Product Image

Global Workover Rigs Market 2019-2023

  • ID: 4772992
  • Report
  • May 2019
  • Region: Global
  • 121 pages
  • TechNavio
1h Free Analyst Time

Speak directly to the analyst to clarify any post sales queries you may have.

1 of 4

FEATURED COMPANIES

  • DRILLMEC Spa
  • Nabors Industries Ltd.
  • Precision Drilling Corp.
  • Schlumberger Ltd.
  • MORE
The growing demand for oil and natural gas will drive the growth of the global workover rigs market during the predicted period. The global consumption of natural gas has seen a significant rise due to the increasing use of natural gas as a fuel. With the increase in the demand for oil and natural gas, companies will try to enhance oil and gas production to meet the demand. Oil and gas companies can increase the production in two ways. One way is to drill new oil and gas wells, while another way is to increase production from existing less-producing oil and gas wells. Workover rigs are used in both cases. Therefore, the increase in the demand for oil and natural gas will spur the need for workover rigs during well E&P activities such as intervention and completion and drive the growth of the global workover rigs market during the forecast period. Analysts have predicted that the workover rigs market will register a CAGR of over 5% by 2023.

Market Overview

Increase in global drilling rig count

The increase in oil and gas investments, as well as government support for oil and gas E&P activities, will give rise to the need for intervention and completion services. where workover rigs are required. These factors are supporting the growth of the global drilling rig count. which indicates the growth of the global workover rigs market during the forecast period.

Fluctuations in price of crude oil

Crude oil prices have encountered large variations over the years, which have a negative impact on the profitability and performance of upstream oil and gas companies. A large number of drilling rigs were shut down, and many employees were laid off due to the variations in global crude of prices. E&P projects are executed only when the revenue generated is high enough for upstream companies to make profits. Thus, the uncertainty and fluctuations in global crude oil prices will hamper investments in E&P projects in both onshore and offshore fields, which will, in turn, impact the global workover rigs market during the forecast period.

Competitive Landscape

The market appears to be moderately fragmented. The presence of several companies including TOKAIRIKA and Valeo makes competitive environment quite intense. Factors such as the increase in global drilling rig count and the growing demand for oil and natural gas, will provide considerable growth opportunities considerable growth opportunities to workover rigs manufacturers. DRILLMEC Spa, Nabors Industries Ltd., National Oilwell Varco Inc., Precision Drilling Corp. Schlumberger Ltd., and Yantai Jereh Oilfield Services Group Co. Ltd. are some of the major companies covered in this report.
Note: Product cover images may vary from those shown
2 of 4

FEATURED COMPANIES

  • DRILLMEC Spa
  • Nabors Industries Ltd.
  • Precision Drilling Corp.
  • Schlumberger Ltd.
  • MORE
PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT
  • Preface
  • Currency conversion rates for US$
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
  • North America - Market size and forecast 2018-2023
  • MEA - Market size and forecast 2018-2023
  • APAC - Market size and forecast 2018-2023
  • Europe - Market size and forecast 2018-2023
  • South America - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity
PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES
  • Market drivers
  • Market challenges
PART 11: MARKET TRENDS
  • Use of laser technology in workover operations
  • Development of intelligent well completion technologies
  • Emergence of automated workover rigs
PART 12: VENDOR LANDSCAPE
  • Overview
  • Landscape disruption
  • Competitive scenario
PART 13: VENDOR ANALYSIS
  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • DRILLMEC Spa
  • Nabors Industries Ltd.
  • National Oilwell Varco Inc.
  • Precision Drilling Corp.
  • Schlumberger Ltd.
  • Yantai Jereh Oilfield Services Group Co. Ltd.
PART 14: APPENDIX
  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors
PART 15: EXPLORE

List of Exhibits:

Exhibit 01: Global oilfield equipment and services market
Exhibit 02: Segments of global oilfield equipment and services market
Exhibit 03: Market characteristics
Exhibit 04: Market segments
Exhibit 05: Market definition - Inclusions and exclusions checklist
Exhibit 06: Market size 2018
Exhibit 07: Global market: Size and forecast 2018-2023 ($ millions)
Exhibit 08: Global market: Year-over-year growth 2019-2023 (%)
Exhibit 09: Five forces analysis 2018
Exhibit 10: Five forces analysis 2023
Exhibit 11: Bargaining power of buyers
Exhibit 12: Bargaining power of suppliers
Exhibit 13: Threat of new entrants
Exhibit 14: Threat of substitutes
Exhibit 15: Threat of rivalry
Exhibit 16: Market condition - Five forces 2018
Exhibit 17: Application - Market share 2018-2023 (%)
Exhibit 18: Comparison by application
Exhibit 19: Onshore - Market size and forecast 2018-2023 ($ millions)
Exhibit 20: Onshore - Year-over-year growth 2019-2023 (%)
Exhibit 21: Offshore - Market size and forecast 2018-2023 ($ millions)
Exhibit 22: Offshore - Year-over-year growth 2019-2023 (%)
Exhibit 23: Market opportunity by application
Exhibit 24: Customer landscape
Exhibit 25: Market share by geography 2018-2023 (%)
Exhibit 26: Geographic comparison
Exhibit 27: North America - Market size and forecast 2018-2023 ($ millions)
Exhibit 28: North America - Year-over-year growth 2019-2023 (%)
Exhibit 29: MEA - Market size and forecast 2018-2023 ($ millions)
Exhibit 30: MEA - Year-over-year growth 2019-2023 (%)
Exhibit 31: APAC - Market size and forecast 2018-2023 ($ millions)
Exhibit 32: APAC - Year-over-year growth 2019-2023 (%)
Exhibit 33: Europe - Market size and forecast 2018-2023 ($ millions)
Exhibit 34: Europe - Year-over-year growth 2019-2023 (%)
Exhibit 35: South America - Market size and forecast 2018-2023 ($ millions)
Exhibit 36: South America - Year-over-year growth 2019-2023 (%)
Exhibit 37: Key leading countries
Exhibit 38: Market opportunity
Exhibit 39: Impact of drivers and challenges
Exhibit 40: Vendor landscape
Exhibit 41: Landscape disruption
Exhibit 42: Vendors covered
Exhibit 43: Vendor classification
Exhibit 44: Market positioning of vendors
Exhibit 45: DRILLMEC Spa - Vendor overview
Exhibit 46: DRILLMEC Spa - Key offerings
Exhibit 47: Nabors Industries Ltd. - Vendor overview
Exhibit 48: Nabors Industries Ltd. - Business segments
Exhibit 49: Nabors Industries Ltd. - Organizational developments
Exhibit 50: Nabors Industries Ltd. - Geographic focus
Exhibit 51: Nabors Industries Ltd. - Segment focus
Exhibit 52: Nabors Industries Ltd. - Key offerings
Exhibit 53: National Oilwell Varco Inc. - Vendor overview
Exhibit 54: National Oilwell Varco Inc. - Business segments
Exhibit 55: National Oilwell Varco Inc. - Organizational developments
Exhibit 56: National Oilwell Varco Inc. - Geographic focus
Exhibit 57: National Oilwell Varco Inc. - Segment focus
Exhibit 58: National Oilwell Varco Inc. - Key offerings
Exhibit 59: Precision Drilling Corp. - Vendor overview
Exhibit 60: Precision Drilling Corp. - Business segments
Exhibit 61: Precision Drilling Corp. - Organizational developments
Exhibit 62: Precision Drilling Corp. - Geographic focus
Exhibit 63: Precision Drilling Corp. - Segment focus
Exhibit 64: Precision Drilling Corp. - Key offerings
Exhibit 65: Schlumberger Ltd. - Vendor overview
Exhibit 66: Schlumberger Ltd. - Business segments
Exhibit 67: Schlumberger Ltd. - Organizational developments
Exhibit 68: Schlumberger Ltd. - Geographic focus
Exhibit 69: Schlumberger Ltd. - Segment focus
Exhibit 70: Schlumberger Ltd. - Key offerings
Exhibit 71: Yantai Jereh Oilfield Services Group Co. Ltd. - Vendor overview
Exhibit 72: Yantai Jereh Oilfield Services Group Co. Ltd. - Business segments
Exhibit 73: Yantai Jereh Oilfield Services Group Co. Ltd. - Organizational developments
Exhibit 74: Yantai Jereh Oilfield Services Group Co. Ltd. - Geographic focus
Exhibit 75: Yantai Jereh Oilfield Services Group Co. Ltd. - Segment focus
Exhibit 76: Yantai Jereh Oilfield Services Group Co. Ltd. - Key offerings
Exhibit 77: Validation techniques employed for market sizing
Exhibit 78: Definition of market positioning of vendors
Note: Product cover images may vary from those shown
3 of 4

Loading
LOADING...

4 of 4

FEATURED COMPANIES

  • DRILLMEC Spa
  • Nabors Industries Ltd.
  • Precision Drilling Corp.
  • Schlumberger Ltd.
  • MORE
The analyst recognizes the following companies as the key players in the global workover rigs market: DRILLMEC Spa, Nabors Industries Ltd., National Oilwell Varco Inc., Precision Drilling Corp. Schlumberger Ltd., and Yantai Jereh Oilfield Services Group Co. Ltd.

Commenting on the report, an analyst from the team said: “The latest trend gaining momentum in the market is the use of laser technology in workover operations.”

According to the report, one of the major drivers for this market is the increase in global drilling rig count.

Further, the report states that one of the major factors hindering the growth of this market is the fluctuations in price of crude oil.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Note: Product cover images may vary from those shown
5 of 4
  • DRILLMEC Spa
  • Nabors Industries Ltd.
  • National Oilwell Varco Inc.
  • Precision Drilling Corp.
  • Schlumberger Ltd.
  • Yantai Jereh Oilfield Services Group Co. Ltd.
Note: Product cover images may vary from those shown
Adroll
adroll