Global Top Drive Systems Market Overview:
A top drive system is comprised of one or more electric or hydraulic motors, which is connected to the drill string through a short section of pipe known as the quill. Suspended from a hook below the traveling block, the top drive system is able to move up and down the derrick. Several times, slips are still employed on a rotary table to confirm the drill string does not fall down the well. A top drive system is capable of drilling with three joints stands, instead of just one pipe at a time. It is also capable of drilling with three joints stands, instead of just one pipe at a time. Some of the key players profiled in the study are Aker Solutions (Norway), Cameron International Corporation (United States), Honghua Group Limited (China), National Oilwell Varco, Inc. (United States), Tesco Corporation (United States), Axon Energy Products (United States), Bentec GmbH Drilling & Oilfield Systems (Germany), Canrig Drilling Technology Limited (United States), Svenska Kullagerfabriken AB (Sweden) and Daqing Jinghong Petroleum Equipment Corporation (China).
On the basis of geography, the market of Top Drive Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Vessel Type, the sub-segment i.e. Jackup Rigs will boost the Top Drive Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Commercial and Technical Benefits of Top Drive Systems
- Growing Deep Water Drilling Activities
- Increasing Demand for Drilling Rigs
- High Cost Associated with Top Drive Systems
- Rise in Emerging Technologies for the Extraction of Natural Resources
- Concerns Regarding Environmental & Oil Spills
Leading key players of top drive system are focusing on strategic partnerships and acquisitions to improve their products and services along with focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Target Audience:Manufacturers of Top Drive Systems, Suppliers of Raw Materials, Suppliers of Top Drive Parts, Governmental Bodies and Research Firms
Major Objectives Focused through this Study To define, describe, and forecast the Global Top Drive Systems market on the basis of product [Electric Top Drives and Hydraulic Top Drives] , application [Mining Industry, Oil and Gas, Construction and Other], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Top Drive Systems market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Top Drive Systems industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are Panjin Liaohe Oilfield Tianyi Petroleum Equipment Company Limited (China) and Warrior Manufacturing Services Limited (Canada).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Top Drive Systems market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.