Oilfield Rotary Table Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Oilfield Rotary Table Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : August, 2020 | Energy & Mining | PPT format

Report Digest


Global Oilfield Rotary Table Market: Overview

The oil and gas sector has been increasingly adopting automation technology in different drilling rigs to cut down human errors. These errors generally lead to accidents and also increase the overall expenses of extracting natural oil from the earth. Automation helps in cutting down such errors and cut down the overall cost of oil extraction. Additionally, the large volumes of data are recorded by the different sensors and related equipment. This data in the rig automation is then analyzed to get meaningful insights and make improved and better decisions. This integration of new and upcoming technologies in the advanced automated rigs is expected to fuel the popularity of automation in the geo-steering processes. With the help of these advanced technologies and software, drilling processes are integrated with the surface equipment. It helps in pushing up the accuracy and penetration rate of these drills. Such factors are ultimately benefiting the development of the global oilfield rotary table market.

Global Oilfield Rotary Table Market: Notable Developments

Some of the notable developments in the global oilfield rotary table market are listed below:

  • Recently, MHWirth, a key player in the global oilfield rotary table market, announced that the company has been successful in securing a contract for the delivery of its flagship DEAL™ - automated drilling control system – on all the Transocean floater that is presently in operation on the Norwegian Continental Shelf. There are total five such floating units across the belt. The company will be working on these floaters for Equinor.
  • In June 2018, National Oilwell Varco Inc., another big name in the global oilfield rotary table market, announced that the company has launched GoConnect™ - an intervention and stimulation equipment for condition monitoring services. The equipment can provide real-time monitoring of processes, condition-based maintenance capacities for the company’s pressure pumping, and predictive analysis. The equipment can also offer coiled tubing, wireline equipment, and nitrogen. The GoConnect™ uses deep machine learning to offer data-driven analysis and insights into the health, condition, and the performance of the operations and equipment used by the customers. National Oilwell Varco Inc. believes that with GoConnect™, end-users will be able to cut down downtime expenses, improve overall performance of their equipment, and also enhance the operation efficacies of their completion services.

Names of other notable players in the global oilfield rotary table market are listed below:

  • Chengdu Zhonghang Machinery Co. Ltd.
  • CMIC Ocean En-Tech Holding Co. Ltd.
  • RM Holding BV,
  • Schlumberger Ltd.

Global Oilfield Rotary Table Market: Drivers and Restraints

The global oilfield rotary table is mainly driven by increasing oil and gas drilling activities around the world. The steady recovery in the prices of crude oil has thus helped in increasing the investments in the E&P projects across the oil and gas sector. This has also helped in pushing the overall growth of the global oilfield rotary table market. In addition to this, increasing drilling activities across previously untapped regions across the globe is also helping to push the development of the oilfield rotary table market.

Global Oilfield Rotary Table Market: Geographical Outlook

The global oilfield rotary table market is geographically segmented into five key regions. These regions are Asia Pacific, Europe, the Middle East, and Africa, South America, and North America. The global market is expected to be dominated by the MEA region due to the growing drilling activities in the region. Additionally, North America is expected to grow at a decent pace due to discovery of new oil and gas sites in places such as Gulf of Mexico among others.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.