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Some of the key findings from our kelly drives market forecast report are summarized below
See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from this report.
Oil and gas companies are increasingly focusing on automating drilling rigs and associated equipment. A large amount of data collected by the sensors in automated drilling rigs can be compared and analyzed for making correct decisions. Next-generation automated rigs use software to integrate drilling processes such as drill bits, BHA, and other downhole tools with surface equipment. Moreover, the automation of drilling rigs will reduce the risk of accidents caused due to human error and increase the efficiency of oil and gas drilling operations. These advantages of automated drilling rigs will encourage oil and gas companies to replace top drive systems with kelly drives. The emergence of automated drilling rigs will be a critical kelly drive market trend fueling the expansion of the market.
Technological advancements in the oil and gas industry have resulted in increasing exploration activities of untapped reserves. Oil and gas companies are adopting unconventional drilling technologies to explore the large shale deposits in the US and Canada. Governments of various countries are undertaking several initiatives to ensure energy security and enhance oil and gas production. The rising investments in oil and gas drilling activities are expected to boost the adoption of kelly drives for E&P activities. Since kelly drives are less expensive than top drive systems, oil and gas companies will be encouraged to adopt it for E&P activities to get a higher return on investments. The rising E&P activities will be a significant factor responsible for the growth of the kelly drives the market at a CAGR of almost 6% during the forecast period.
The global kelly drives market is fragmented. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this kelly drives market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.
The report offers a detailed analysis of several leading kelly drive manufacturers, including:
The onshore segment will account for the highest kelly drives market share. The increasing oil and gas E&P activities, especially in the shale reserves will drive the demand for kelly drives for onshore drilling applications. This report provides an accurate prediction of the contribution of all the segments to the growth of the kelly drives market size.
With a complete study of the growth opportunities for the companies, it has been identified that North America will account for the highest share of the kelly drives market throughout the forecast period. The increasing oil and gas drilling activities in North America will be one of the significant factors fueling kelly drives market growth in this region.
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY APPLICATION
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
PART 09: DRIVERS AND CHALLENGES
PART 10: MARKET TRENDS
PART 11: VENDOR LANDSCAPE
PART 12: VENDOR ANALYSIS
PART 13: APPENDIX
PART 14: EXPLORE TECHNAVIO
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