October 8, 2018 - 1:10 PM EDT
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Global Electric Top Drive Systems Market 2018-2022| Rising Demand for Oil and Natural Gas Promotes Growth| Technavio


The global electric top drive systems market research report by Technavio predicts the market to post a CAGR of around 3% during the period 2018-2022.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181008005680/en/

Technavio has published a new market research report on the global electric top drive systems market ...

Technavio has published a new market research report on the global electric top drive systems market for the period 2018-2022. (Graphic: Business Wire)

A key driver for the global electric top drive systems market is the increase in demand for oil and natural gas. According to the US Energy Information Administration, the global liquid fuel consumption increased by 7.16 mbpd in 2016 when compared with 2011. The crude oil prices decreased to USD 27/bbl in January, which led to an increase in fuel consumption due to the decreased prices.

This global electric top drive systems market research report provides an analysis of the most important trends expected to impact the market outlook during the period 2018-2022. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

In this report, Technavio highlights the employment of alternative business strategies by upstream oil and gas companies as one of the key trends in the global electric top drive systems market:

Global electric top drive systems market: Upstream oil and gas companies resorting to alternative business strategies

The oil and gas industry has been through a challenging phase owing to the low crude oil prices along with weak demand from across the world. Several oil and gas companies found it difficult to cope up with the losses during this phase. Therefore, there was a decrease in exploration and production activities in 2014-2016.

“There are several business models and strategic approaches being employed by the oil and gas companies to increase profitability during the low crude oil phase. It includes assessing the economic viability of the oil and gas projects in addition to increasing the crude oil output. The fiscal regimes of a country, operating agreements in terms of tax regimes, production sharing contracts, and cost-recovery mechanism must be assessed in detail,” says a senior research analyst at Technavio.

Global electric top drive systems market: Segmentation analysis

This electric top drive systems market analysis report segments the market by application (onshore and offshore) and geography (the Americas, APAC, and EMEA).

The onshore segment held the largest electric top drive systems market share in 2017, accounting for nearly 69% of the market. This application segment is expected to dominate the global market throughout the forecast period.

The Americas led the market in 2017 with more than 49% of the market share, followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2018-2022.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Source: Business Wire (October 8, 2018 - 1:10 PM EDT)

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