Below are some of the key findings from the electric top drive systems market research report
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Global electric top drive systems industry overview
According to the US Energy Information Administration (EIA), global liquid fuel consumption is likely to increase considerably in the forthcoming years. Furthermore, with the continuously declining crude oil prices between June 2014 to January 2016, fuel consumption has increased significantly over the last few years. In addition, to discover greenfield oil wells in the new and existing oil fields, major oil and gas companies are increasing the production of these resources for catering to the demand. This has further increased the oil and gas upstream activities, in turn, boosting the electric top drive systems market growth during the next few years.
The rising investments in the shale industry are one of the key trends expected to gain prominence in the market. Significant investments from financiers are enabling producers in increasing their shale output, particularly in the US. Oil companies increasingly focusing on spending on short-cycle shale projects while reducing risks and providing a quick return on investments. As a result, rising investments in the shale industry will further proliferate the need for tertiary enhanced oil recovery techniques, in turn, increasing the potential for the global electric top drive systems market.
Top electric top drive systems companies covered in this market research report
The electric top drive systems market is fairly concentrated with companies focusing on launching different products for catering the evolving end-user requirements. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this electric top drive systems industry analysis report will aid clients to identify new growth opportunities and design innovative strategies for strengthening their position in the market.
The report offers a complete analysis of various companies including:
- Akastor
- Honghua America
- KCA Deutag
- Nabors Industries
- National Oilwell Varco
- Schlumberger
Electric top drive systems market segmentation based on geographic regions
- Americas
- APAC
- EMEA
With a complete study of the growth opportunities for the companies, the Americas will account for the highest electric top drive systems market revenue throughout the forecast period. The APAC region, however, will contribute the fastest growth in the market due to the growing awareness of the benefits of electric top drive systems.
Electric top drive systems market segmentation based on application
- Onshore
- Offshore
The onshore application segment will account for the highest electric top drive systems market growth during the forecast period. Additionally, the report also provides an accurate prediction of the contribution of the various application segments to the growth of the electric top drive systems market size.
Key highlights of the global electric top drive systems market for the forecast years 2018-2022:
- CAGR of the market during the forecast period 2018-2022
- Detailed information on factors that will accelerate the growth of the electric top drive systems market during the next five years
- Precise estimation of the global electric top drive systems market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- Growth of the electric top drive systems industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of electric top drive systems companies
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