Enjoy complimentary customisation on priority with our Enterprise License!
The global hydraulic workover units market size will grow by USD 314.67 million during 2019-2023. This report provides a detailed analysis of the market by application (onshore and offshore) and geography (APAC, Europe, MEA, North America, and South America). The report analyzes the market’s competitive landscape and offers information on several hydraulic workover units companies including Canadian Energy Equipment Manufacturing FZE, Halliburton Co., High Arctic Energy Services Inc., National Oilwell Varco Inc., and Superior Energy Services Inc.
Key Insights on Hydraulic Workover Units Market – Global Forecast 2019-2023
Browse the ToC and LoE with selected illustrations and example pages of Hydraulic Workover Units Market
The global hydraulic workover units market is witnessing significant investments in the oil and gas sector to enhance production from mature oil and gas fields. Several oil and gas companies are carrying out intervention operations to modify oil and gas wells to achieve optimal production. Trillion Energy International Inc. recently announced its plan to do workovers in the Cendere oil field in Turkey. The company has aimed at producing nearly 170 barrels of oil in a day. The increase in the number of many such workover operations will increase the demand for hydraulic workover units and drive the market expansion over the forecast period.
The growing adoption of laser technology in workover operations is one of the major hydraulic workover units market trends influencing growth. Many companies are replacing traditional machining processes with laser technologies owing to several advantages. Laser systems speed up the workover process by precisely performing the job in a single downtime pass without damaging adjacent materials, thereby eliminating multiple trips. This saves time and eliminates the possibilities of any kind of contact with harmful chemicals and explosives. Downhole laser systems are also used in removing restricted materials and various scale deposits. The adoption of laser systems in workover operations will result in an increase in the overall operational efficiency of oil and gas companies. As a result of these factors, the global hydraulic workover units market size will grow at a CAGR of nearly 5% during the forecast period.
The global hydraulic workover units market is fairly fragmented. This research report provides a detailed analysis of the market’s competitive landscape and provides information on the products offered by various companies. Key insights provided by hydraulic workover units market report will help companies to create effective strategies to improve their revenue share.
The report offers a detailed analysis of several leading companies including:
Hydraulic workover units find a large number of applications in the onshore oil and gas E&P activities. Onshore sites have more favorable operating conditions and involve lower costs compared to offshore sites. Additionally, the recovery of global crude oil prices has increased the onshore oil and gas E&P activities.
North America offers a large number of growth opportunities for hydraulic workover units companies. The US government is planning to start oil and gas E&P activities at all offshore areas along the Atlantic, Arctic, and Pacific coasts. In addition, several aging oil and gas wells in the US need intervention activities that require hydraulic workover units. All these factors will collectively contribute to the growth of the hydraulic workover units market size in North America.
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
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: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
PART 15: EXPLORE TECHNAVIO
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.