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Top Drive Systems Market Worth $1,835.84 Million by 2019 Reports MarketsAndMarkets - Top drive systems market is witnessing substantial growth mainly due to operational and safety benefits they offer - MarketsAndMarkets.com
Top Drive Systems Market Worth $1,835.84 Million by 2019 Reports MarketsAndMarkets

 

NewswireToday - /newswire/ - Wilmington, DE, United States, 2015/03/20 - Top drive systems market is witnessing substantial growth mainly due to operational and safety benefits they offer - MarketsAndMarkets.com.

   
 
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The report “Top Drive Systems Market by Type (Hydraulic, Electric), by Application (Onshore, Offshore-Jack-ups, Semi-Submersibles, Drillships), & by Geography - Global Trends & Forecasts to 2019", defines and segments the global top drive systems market with an analysis and market size forecast.

The top drive systems market is projected to grow from an estimated value of $1477.30 million in 2012 to $1,835.84 million by 2019 at a CAGR of 7.6% from 2014 to 2019. Browse 123 market data tables and 40 figures spread through 160 pages and in-depth TOC on "Top Drive Systems Market by Type (Hydraulic, Electric), by Application (Onshore, Offshore-Jack-ups, Semi-Submersibles, Drillships), & by Geography - Global Trends & Forecasts to 2019" Early buyers will receive 10% customization on reports. North America: The largest market for top drive systems market North America holds the largest market share in 2013 for top drive systems due to rise in exploration and drilling activities and an increase in the number of drilling rigs.
The U.S. dominates the market in this region due to the development of shale gas and technological innovations. Increasing demand for top drive systems in onshore as well as offshore purposes, especially in North America, is boosting the region’s global position.

Electric: Largest market by type Top drive systems can be classified on the basis of the size and type of a motor used to rotate the drill pipe. There are two major types of top drive systems which include hydraulic and electric. Electric-based top drive systems hold the largest market share across the globe. Onshore: Largest market by application The onshore segment holds the major share in the top drive systems application market.
The environment of offshore oilfield is completely different from onshore oil and gas fields. The technologies required are precise and advanced in the case of offshore, making its drilling a capital intensive one. At the same time, complexities and service requirement is more in case of offshore drilling activities. Although, offshore application holds a lesser market share, it is expected to grow at a faster pace.

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MarketsandMarkets (marketsandmarkets.com) is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. M&M’s flagship competitive intelligence and market research platform,"RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers. We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

 
 
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Top Drive Systems Market Worth $1,835.84 Million by 2019 Reports MarketsAndMarkets

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