Below are some of the key findings from the positive displacement motor market research report
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Global positive displacement motor industry overview
The growing use of liquid fuel is one of the primary factors driving the global positive displacement motor market growth. Increasing industrialization and urbanization, especially in developing countries is expected to contribute to the rising liquid fuel consumption globally. According to US EIA, the global liquid fuel consumption was 100.09 mbpd in September 2018, and the demand for fuel will further increase during the forecast period. To cater to this growing demand, leading oil and gas companies have increased their production through E&P activities in new and existing oil and gas sites. Investments in deepwater and ultra-deepwater projects for offshore drilling is rising. With the increase in fuel consumption, the demand for upstream oil and gas activities will also grow. This will raise the demand for positive displacement motor for directional and offshore drilling, and support the positive displacement motor market growth.
The increasing applications of IoT in O&G sector is one of the major trends expected to further stimulate the positive displacement motor market growth. The integration of automation in drilling activities in being applied to several operations in drilling process, to improve their efficiency. GPS, sensors, wireless communication, real-time data acquisition, and innovations are being implemented in drilling equipment. The integration of IoT reduces risks and uncertainties in the process and supports the maximum recovery of hydrocarbons available in the reserve. This will also improve the accuracy of E&P operations for oil companies by providing better data and decision-making abilities. The positive displacement motor market forecast report predicts that fueled by these factors, the market will grow at a CAGR of over 7% during the forecast period.
Top positive displacement motor companies covered in this market research report
The positive displacement motor market is highly fragmented. The market is in the growth phase and the competition is expected to become less intense by the end of the next five years. By offering a complete analysis of the market's competitive landscape and with information on the products offered by the companies, this positive displacement motor industry analysis report will aid clients to identify new growth opportunities and design new growth strategies.
The report offers a complete analysis of various companies including:
- Halliburton
- MATRRIX Energy Technologies
- Nabors Industries
- Schlumberger
- Weatherford
Positive displacement motor market segmentation based on geographic regions
- Americas
- APAC
- EMEA
Global positive displacement motor market analysis reveals that the Americas will continue to dominate the positive displacement motor market share until 2023. The Americas will also account for the highest positive displacement motor market growth throughout the forecast period.
Positive displacement motor market segmentation based on application
- Onshore
- Offshore
The onshore applications will lead the positive displacement motor market share during the forecast period. Offshore applications will account for the highest positive displacement motor market growth. Additionally, the report also provides an accurate prediction of the contribution of the various application segments to the growth of the positive displacement motor market size.
Key highlights of the global positive displacement motor market for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the positive displacement motor market during the next five years
- Precise estimation of the global positive displacement motor market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the positive displacement motor 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 positive displacement motor companies
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