August 13, 2019 - 5:34 AM EDT
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Global Oilfield Drilling Elevators Market Report 2019-2023 - Increasing Global Active Rig Count, Growing Upstream Investments, Rising Global Energy Demand

Dublin, Aug. 13, 2019 (GLOBE NEWSWIRE) -- The "Global Oilfield Drilling Elevators Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.

Increasing global active rig count

Oil and gas E&P activities are increasing worldwide, following the recovery of global crude oil prices. Owing to the increase in global crude oil prices, oil and gas companies are investing in oil and gas E&P projects to extract oil and gas, and thus enhance oil and gas production and earn greater profits.

The increase in drilling activities will lead to a rise in the demand for oil and gas drilling rigs, and in turn, for oilfield drilling equipment such as oilfield drilling elevators. This demand for active rig count will lead to the expansion of the global oilfield drilling elevators market at a CAGR of almost 6% during the forecast period.

Advances in drilling elevator technology

Elevators in oilfield drilling rigs are used to handle drill pipes, drill collars, casings, and tubing pipes while drilling a wellbore. The safety of the crew while handling the rig floor equipment is important as any unsafe handling of the rig floor equipment can lead to accidents and injuries. Therefore, to address this issue, many companies are introducing innovative drilling elevator technology.

The advances in drilling elevators can reduce the manual handling of tubular and drill pipes and help to lower the number of accidents on the rig floor. This development is expected to have a positive impact on the overall market growth.

Market Dynamics

The market report also looks at factors such as increasing global active rig count, growing upstream investments, rising global energy demand. However, challenges associated with rig floor operations, adoption of alternative energy sources, fluctuations in oil and gas prices may hamper the growth of the oilfield drilling elevators industry over the forecast period.

Segments Analyzed

The oilfield drilling elevators market analysis considers sales from both onshore and offshore applications. The analysis also considers the sales of oilfield drilling elevators in APAC, Europe, North America, South America, and MEA.

In 2018, the onshore segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing oil and E&P activities, especially in shale reserves, will play a significant role in the onshore segment to maintain its market position.

Competitive Landscape

With the presence of several major players, the global oilfield drilling elevators market is fragmented. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading oilfield drilling elevators manufacturers, that include:

  • Forum Energy Technologies Inc.
  • Frank's International N.V.
  • National Oilwell Varco Inc.
  • Weatherford International PLC
  • Yantai Jereh Oilfield Services Group Co. Ltd.

Also, the oilfield drilling elevators market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Key Topics Covered

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY APPLICATION

  • Comparison by application
  • Onshore - Market size and forecast 2018-2023
  • Offshore - Market size and forecast 2018-2023
  • Market opportunity by application

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic comparison
  • North America - Market size and forecast 2018-2023
  • MEA - Market size and forecast 2018-2023
  • APAC - Market size and forecast 2018-2023
  • Europe - Market size and forecast 2018-2023
  • South America - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

PART 11: MARKET TRENDS

  • Advances in drilling elevator technology
  • Innovations in pipe handing systems
  • Rise in deepwater and ultra-deepwater projects

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Forum Energy Technologies Inc.
  • Frank's International N.V.
  • National Oilwell Varco Inc.
  • Weatherford International PLC
  • Yantai Jereh Oilfield Services Group Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/ynin8r

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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Source: GlobeNewswire (August 13, 2019 - 5:34 AM EDT)

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