Hydraulic Workover Units Market Size, Share & Trends Analysis Report, by Application (Onshore and Offshore), by Installation Type (Skid Mounted and Trailer Mounted) and Forecast, 2019-2025.
Hydraulic workover unit (HWOU) is used to perform well-intervention activities. The features that make it a preferred choice include rapid mobilization, small footprint and versatility. This supports the conduct of sand cleanouts, casing leak repair, and completions change out. In addition, it is used to install or remove tabulars (pipes) in and out of dead wells. By using hydraulic cylinders, the tabulars are pulled out of the well and can produce large pull and push forces that offer HWOU with a small footprint and configuration. Such properties are useful for offshore applications where harsh weather conditions are present, and space can be limited. Significant rise in oil & gas industry is one of the major factors driving the market growth. For instance, as per International Energy Administration (IEA), By 2023, the global oil demand will reach 104.7 mb/d (millions of barrels per day), up 6.9 mb/d from 2018. China and India together will contribute nearly 50% of global oil demand. This would further propel the demand for drilling and maintenance operations for wells and thereby, will give a boost to the growth of the market.
Geographically, North America accounted for major share in the market due to rising shale gas production. For instance, according to the US Energy Information Administration (EIA) in 2018, nearly 6.44 million barrels per day of crude oil were produced directly from shale (tight) oil resources in the US. This was equal to about 59% of total US crude oil production in 2018. As a result, it is anticipated to drive the demand for HWOU in the exploration and production of shale oil and gas. However, Asia-Pacific is estimated to witness lucrative growth in the market due to a significant rise in oil & gas production activities in the region.
Some of the major players operating in the market include Superior Energy Services, Inc., Halliburton Energy Services, Inc., National Oilwell Varco, Inc., Canadian Energy Equipment Manufacturing FZE (CEEM), and Uzma Berhad. The strategies followed by the market players include partnerships and collaborations, product launches, and mergers and acquisitions to expand market share.
Research Methodology
The market study of the global hydraulic workover units market is incorporated by extensive primary and secondary research. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.
Secondary sources include:
Financial reports of companies involved in the market.
Whitepapers, research-papers, and news blogs.
Company websites and their product catalog.
The report is intended for oil and gas drilling equipment manufacturers, hydraulic workover units service providers, government bodies, and others for overall market analysis and competitive analysis. The report provides an in-depth analysis on market size, different products, and market opportunity. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market Segmentation:
Global Hydraulic Workover Units Market Research and Analysis by Application
Global Hydraulic Workover Units Market Research and Analysis by Installation Type
The Report Covers
Comprehensive research methodology of the global hydraulic workover units market.
This report also includes a detailed and extensive market overview with key analyst insights.
Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global hydraulic workover units market.
Insights about market determinants which are stimulating the global hydraulic workover units market.
Detailed and extensive market segments with regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.
Hydraulic workover unit (HWOU) is used to perform well-intervention activities. The features that make it a preferred choice include rapid mobilization, small footprint and versatility. This supports the conduct of sand cleanouts, casing leak repair, and completions change out. In addition, it is used to install or remove tabulars (pipes) in and out of dead wells. By using hydraulic cylinders, the tabulars are pulled out of the well and can produce large pull and push forces that offer HWOU with a small footprint and configuration. Such properties are useful for offshore applications where harsh weather conditions are present, and space can be limited. Significant rise in oil & gas industry is one of the major factors driving the market growth. For instance, as per International Energy Administration (IEA), By 2023, the global oil demand will reach 104.7 mb/d (millions of barrels per day), up 6.9 mb/d from 2018. China and India together will contribute nearly 50% of global oil demand. This would further propel the demand for drilling and maintenance operations for wells and thereby, will give a boost to the growth of the market.
Geographically, North America accounted for major share in the market due to rising shale gas production. For instance, according to the US Energy Information Administration (EIA) in 2018, nearly 6.44 million barrels per day of crude oil were produced directly from shale (tight) oil resources in the US. This was equal to about 59% of total US crude oil production in 2018. As a result, it is anticipated to drive the demand for HWOU in the exploration and production of shale oil and gas. However, Asia-Pacific is estimated to witness lucrative growth in the market due to a significant rise in oil & gas production activities in the region.
Some of the major players operating in the market include Superior Energy Services, Inc., Halliburton Energy Services, Inc., National Oilwell Varco, Inc., Canadian Energy Equipment Manufacturing FZE (CEEM), and Uzma Berhad. The strategies followed by the market players include partnerships and collaborations, product launches, and mergers and acquisitions to expand market share.
Research Methodology
The market study of the global hydraulic workover units market is incorporated by extensive primary and secondary research. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.
Secondary sources include:
Financial reports of companies involved in the market.
Whitepapers, research-papers, and news blogs.
Company websites and their product catalog.
The report is intended for oil and gas drilling equipment manufacturers, hydraulic workover units service providers, government bodies, and others for overall market analysis and competitive analysis. The report provides an in-depth analysis on market size, different products, and market opportunity. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market Segmentation:
Global Hydraulic Workover Units Market Research and Analysis by Application
Global Hydraulic Workover Units Market Research and Analysis by Installation Type
The Report Covers
Comprehensive research methodology of the global hydraulic workover units market.
This report also includes a detailed and extensive market overview with key analyst insights.
Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global hydraulic workover units market.
Insights about market determinants which are stimulating the global hydraulic workover units market.
Detailed and extensive market segments with regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.
Table of Contents
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Determinants
5. Market Segmentation
6. Regional Analysis
7. Company Profiles
Companies Mentioned
A selection of companies mentioned in this report includes:
- Basic Energy Services, Inc.
- Canadian Energy Equipment Manufacturing FZE (CEEM)
- EMAS Energy Services (Thailand) Ltd.
- ESCALATE Oil Tools, LLC
- Halliburton Energy Services, Inc.
- High Arctic Energy Services, Inc.
- ICON Engineering Pty Ltd.
- Nabors Industries Ltd.
- National Oilwell Varco, Inc.
- Piston Well Services, Inc.
- Precision Drilling Corp.
- PT. Elnusa Tbk
- Rigs, Derricks Etc.,LLC
- Rigsmart Systems
- RPC, Inc.
- Superior Energy Services, Inc.
- Tianjin DFXK Petroleum Machinery Co.,Ltd.
- Uzma Berhad
- Velesto Energy Berhad
- WellGear Group B.V.
- ZYT Petroleum Equipment Co., Ltd.
