Global Top Drive System Market was valued US$ 1.33Bn in 2019 and is expected to reach US$ 2.15 Bn by 2027 at a CAGR of 6.19 % during the forecast period. The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.To know about the Research Methodology:-Request Free Sample Report The key driving factors for global top drive systems market growth are a rise in a number of drilling rigs, drilling activities and an increase in exploration activities. The additional factors contributing to the growth of top drive systems market are a rise in demand for oil rigs, an increase in energy consumption and emerging technologies for the extraction of natural resources. Moreover, the use of top drive systems for on-shore and off-shore purpose and safety concerns also boosting the growth of top drive systems market. Its machinery reduces the substantial time of drilling operation making it suitable for broad adoption in applications such as land drills, ocean drills and offshore drills. However, the development of unconventional reserves, political issues, technological incompetence, environmental concerns and oil spills could restrain the growth of the global top drive market. Top drive system market can be segmented on the basis of type depending on the components used including electric and hydraulic. The hydraulic market owns a comparatively lesser share than electric systems. This is on account of zero harmful gas emissions due to no application of hydraulic fluids. From the application, the top drive system market can be segmented into two types including offshore and onshore. Onshore drilling dominated the global top drive systems market because of a large number of onshore fields as compared to offshore projects. The offshore rigs need advanced and precise facilities making it more capital rigorous. Moreover, these rigs are inclusive of considerable complexities and service requirement, as compared to onshore rigs. The offshore drilling market share is expected to rise over the forecast period because of more number of reserves emerging in the high seas. North America held the largest share in the top drive systems market as a result of more number of production fields in regions of the U.S. and Mexico. Europe followed North America on account of market share. Russia is a major driller for crude oil and gas, holding a major share of the European market. Kuwait, Saudi Arabia and Iran were major countries driving the top drive system market growth in the Middle East because of the large number of onshore production facilities in this region. Whereas in Africa, Nigeria is a key country owing to the presence of drilling facilities similarly, in Latin America, Venezuela holds the majority of the exploration projects. Indonesia, Malaysia, Singapore, Vietnam and Brunei owns a majority share in the Asia Pacific region. However, China is expected to emerge as a significant market over the forecast period, because of potential oil reserves being identified in the South China Sea. Among the key players, National Oilwell Varco is a multinational corporation based in Houston, Texas, which caters to both onshore and offshore top drive system needs. Whereas, Honghua Group Ltd., headquartered in Chengdu, Sichua, has expertise in both onshore and offshore drilling rigs and is involved in designing and manufacturing of top drive systems. Foremost Group manufactures top drive systems under mobile equipment business segment. The company offers basic power wheel and complete drive systems in the market. The hydraulic and electric top drive systems designed and manufactured by leading companies are suitable for 100, 150 and 300 tons of rated capacities The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by type, service, components, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the top drive systems market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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Global Top Drive Systems Market, By Type
• Electric Top Drives • Hydraulic Top DrivesGlobal Top Drive Systems Market, By Application
• Onshore • OffshoreGlobal Top Drive Systems Market, By Vessel Type
• Jackup Rigs • Semisubmersible Rigs • DrillshipsGlobal Top Drive Systems Market, By Region
• North America • Europe • Asia Pacific • Middle East & Africa • South AmericaKey players operating in Global Top Drive Systems Market
• National Oilwell Varco • Canrig Drilling Technology Limited • Tesco Corporation • Cameron International Corporation • Aker Solutions AS • Axon Energy Products • Bentec GMBH Drilling & Oilfield Systems • Daqing Jinghong Petroleum Equipment Corporation • Honghua Group Limited • Warrior Manufacturing Service Limited • Oilwell Varco • China National Petroleum Corporation • Schlumberger Limited • Nabors Industries Ltd. • MHWirth AS • Drillmec SpA • GDS International, LLC • Svenska Kullagerfabriken AB (SKF) • KCA Deutag
Table of Content
1. Preface 1.1. Report Scope and Market Segmentation 1.2. Research Highlights 1.3. Research Objectives 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary : Global Top Drive Systems Market, by Market Value (US$ Bn) 4. Market Overview 4.1. Introduction 4.2. Market Indicator 4.2.1. Drivers 4.2.2. Restraints 4.2.3. Opportunities 4.2.4. Challenges 4.3. Porter’s Analysis 4.4. Value Chain Analysis 4.5. Market Risk Analysis 4.6. SWOT Analysis 4.7.Industry Trends in Global Top Drive Systems Market 5. Supply Side and Demand Side Indicators 6. Global Top Drive Systems Market Analysis and Forecast 6.1. Global Top Drive Systems Market Size & Y-o-Y Growth Analysis 6.1.1. North America 6.1.2. Europe 6.1.3. Asia Pacific 6.1.4. Middle East & Africa 6.1.5. South America 7. Global Top Drive Systems Market Analysis and Forecast, By Type 7.1. Introduction and Definition 7.2. Key Findings 7.3. Global Top Drive Systems Market Value Share Analysis, By Type 7.4. Global Top Drive Systems Market Size (US$ Bn) Forecast, By Type 7.5. Global Top Drive Systems Market Analysis, By Type 7.6. Global Top Drive Systems Market Attractiveness Analysis, By Type 8. Global Top Drive Systems Market Analysis and Forecast, By Application 8.1. Introduction and Definition 8.2. Key Findings 8.3. Global Top Drive Systems Market Value Share Analysis, By Application 8.4. Global Top Drive Systems Market Size (US$ Bn) Forecast, By Application 8.5. Global Top Drive Systems Market Analysis, By Application 8.6. Global Top Drive Systems Market Attractiveness Analysis, By Application 9. Global Top Drive Systems Market Analysis and Forecast, by Vessel Type 9.1. Introduction and Definition 9.2. Key Findings 9.3. Global Top Drive Systems Market Value Share Analysis, by Vessel Type 9.4. Global Top Drive Systems Market Size (US$ Bn) Forecast, by Vessel Type 9.5. Global Top Drive Systems Market Analysis, by Vessel Type 9.6. Global Top Drive Systems Market Attractiveness Analysis, by Vessel Type 10. Global Top Drive Systems Market Analysis, by Region 10.1. Global Top Drive Systems Market Value Share Analysis, by Region 10.2. Global Top Drive Systems Market Size (US$ Bn) Forecast, by Region 10.3. Global Top Drive Systems Market Attractiveness Analysis, by Region 11. North America Top Drive Systems Market Analysis 11.1. Key Findings 11.2. North America Top Drive Systems Market Overview 11.3. North America Top Drive Systems Market Value Share Analysis, By Type 11.4. North America Top Drive Systems Market Forecast, By Type 11.4.1. Electric Top Drives 11.4.2. Hydraulic Top Drives 11.5. North America Top Drive Systems Market Value Share Analysis, By Application 11.6. North America Top Drive Systems Market Forecast, By Application 11.6.1. Onshore 11.6.2. Offshore 11.7. North America Top Drive Systems Market Value Share Analysis, by Vessel Type 11.8. North America Top Drive Systems Market Forecast, by Vessel Type 11.8.1. Jackup Rigs 11.8.2. Semisubmersible Rigs 11.8.3. Drillships 11.9. North America Top Drive Systems Market Value Share Analysis, by Country 11.10. North America Top Drive Systems Market Forecast, by Country 11.10.1. U.S. 11.10.2. Canada 11.11. North America Top Drive Systems Market Analysis, by Country 11.12. U.S. Top Drive Systems Market Forecast, By Type 11.12.1. Electric Top Drives 11.12.2. Hydraulic Top Drives 11.13. U.S. Top Drive Systems Market Forecast, By Application 11.13.1. Onshore 11.13.2. Offshore 11.14. U.S. Top Drive Systems Market Forecast, by Vessel Type 11.14.1. Jackup Rigs 11.14.2. Semisubmersible Rigs 11.14.3. Drillships 11.15. Canada Top Drive Systems Market Forecast, By Type 11.15.1. Electric Top Drives 11.15.2. Hydraulic Top Drives 11.16. Canada Top Drive Systems Market Forecast, By Application 11.16.1. Onshore 11.16.2. Offshore 11.17. Canada Top Drive Systems Market Forecast, by Vessel Type 11.17.1. Jackup Rigs 11.17.2. Semisubmersible Rigs 11.17.3. Drillships 11.18. North America Top Drive Systems Market Attractiveness Analysis 11.18.1. By Type 11.18.2. By Application 11.18.3. By Vessel Type 11.19. PEST Analysis 11.20. Key Trends 11.21. Key Development 12. Europe Top Drive Systems Market Analysis 12.1. Key Findings 12.2. Europe Top Drive Systems Market Overview 12.3. Europe Top Drive Systems Market Value Share Analysis, By Type 12.4. Europe Top Drive Systems Market Forecast, By Type 12.4.1. Electric Top Drives 12.4.2. Hydraulic Top Drives 12.5. Europe Top Drive Systems Market Value Share Analysis, By Application 12.6. Europe Top Drive Systems Market Forecast, By Application 12.6.1. Onshore 12.6.2. Offshore 12.7. Europe Top Drive Systems Market Value Share Analysis, by Vessel Type 12.8. Europe Top Drive Systems Market Forecast, by Vessel Type 12.8.1. Jackup Rigs 12.8.2. Semisubmersible Rigs 12.8.3. Drillships 12.9. Europe Top Drive Systems Market Value Share Analysis, by Country 12.10. Europe Top Drive Systems Market Forecast, by Country 12.10.1. Germany 12.10.2. U.K. 12.10.3. France 12.10.4. Italy 12.10.5. Spain 12.10.6. Rest of Europe 12.11. Europe Top Drive Systems Market Analysis, by Country 12.12. Germany Top Drive Systems Market Forecast, By Type 12.12.1. Electric Top Drives 12.12.2. Hydraulic Top Drives 12.13. Germany Top Drive Systems Market Forecast, By Application 12.13.1. Onshore 12.13.2. Offshore 12.14. Germany Top Drive Systems Market Forecast, by Vessel Type 12.14.1. Jackup Rigs 12.14.2. Semisubmersible Rigs 12.14.3. Drillships 12.15. U.K. Top Drive Systems Market Forecast, By Type 12.15.1. Electric Top Drives 12.15.2. Hydraulic Top Drives 12.16. U.K. Top Drive Systems Market Forecast, By Application 12.16.1. Onshore 12.16.2. Offshore 12.17. U.K. Top Drive Systems Market Forecast, by Vessel Type 12.17.1. Jackup Rigs 12.17.2. Semisubmersible Rigs 12.17.3. Drillships 12.18. France Top Drive Systems Market Forecast, By Type 12.18.1. Electric Top Drives 12.18.2. Hydraulic Top Drives 12.19. France Top Drive Systems Market Forecast, By Application 12.19.1. Onshore 12.19.2. Offshore 12.20. France Top Drive Systems Market Forecast, by Vessel Type 12.20.1. Jackup Rigs 12.20.2. Semisubmersible Rigs 12.20.3. Drillships 12.21. Italy Top Drive Systems Market Forecast, By Type 12.21.1. Electric Top Drives 12.21.2. Hydraulic Top Drives 12.22. Italy Top Drive Systems Market Forecast, By Application 12.22.1. Onshore 12.22.2. Offshore 12.23. Italy Top Drive Systems Market Forecast, by Vessel Type 12.23.1. Jackup Rigs 12.23.2. Semisubmersible Rigs 12.23.3. Drillships 12.24. Spain Top Drive Systems Market Forecast, By Type 12.24.1. Electric Top Drives 12.24.2. Hydraulic Top Drives 12.25. Spain Top Drive Systems Market Forecast, By Application 12.25.1. Onshore 12.25.2. Offshore 12.26. Spain Top Drive Systems Market Forecast, by Vessel Type 12.26.1. Jackup Rigs 12.26.2. Semisubmersible Rigs 12.26.3. Drillships 12.27. Rest of Europe Top Drive Systems Market Forecast, By Type 12.27.1. Electric Top Drives 12.27.2. Hydraulic Top Drives 12.28. Rest of Europe Top Drive Systems Market Forecast, By Application 12.28.1. Onshore 12.28.2. Offshore 12.29. Rest of Europe Top Drive Systems Market Forecast, by Vessel Type 12.29.1. Jackup Rigs 12.29.2. Semisubmersible Rigs 12.29.3. Drillships 12.30. Europe Top Drive Systems Market Attractiveness Analysis 12.30.1. By Type 12.30.2. By Application 12.30.3. By Vessel Type 12.31. PEST Analysis 12.32. Key Trends 12.33. Key Development 13. Asia Pacific Top Drive Systems Market Analysis 13.1. Key Findings 13.2. Asia Pacific Top Drive Systems Market Overview 13.3. Asia Pacific Top Drive Systems Market Value Share Analysis, By Type 13.4. Asia Pacific Top Drive Systems Market Forecast, By Type 13.4.1. Electric Top Drives 13.4.2. Hydraulic Top Drives 13.5. Asia Pacific Top Drive Systems Market Value Share Analysis, By Application 13.6. Asia Pacific Top Drive Systems Market Forecast, By Application 13.6.1. Onshore 13.6.2. Offshore 13.7. Asia Pacific Top Drive Systems Market Value Share Analysis, by Vessel Type 13.8. Asia Pacific Top Drive Systems Market Forecast, by Vessel Type 13.8.1. Jackup Rigs 13.8.2. Semisubmersible Rigs 13.8.3. Drillships 13.9. Asia Pacific Top Drive Systems Market Value Share Analysis, by Country 13.10. Asia Pacific Top Drive Systems Market Forecast, by Country 13.10.1. China 13.10.2. India 13.10.3. Japan 13.10.4. ASEAN 13.10.5. Rest of Asia Pacific 13.11. Asia Pacific Top Drive Systems Market Analysis, by Country 13.12. China Top Drive Systems Market Forecast, By Type 13.12.1. Electric Top Drives 13.12.2. Hydraulic Top Drives 13.13. China Top Drive Systems Market Forecast, By Application 13.13.1. Onshore 13.13.2. Offshore 13.14. China Top Drive Systems Market Forecast, by Vessel Type 13.14.1. Jackup Rigs 13.14.2. Semisubmersible Rigs 13.14.3. Drillships 13.15. India Top Drive Systems Market Forecast, By Type 13.15.1. Electric Top Drives 13.15.2. Hydraulic Top Drives 13.16. India Top Drive Systems Market Forecast, By Application 13.16.1. Onshore 13.16.2. Offshore 13.17. India Top Drive Systems Market Forecast, by Vessel Type 13.17.1. Jackup Rigs 13.17.2. Semisubmersible Rigs 13.17.3. Drillships 13.18. Japan Top Drive Systems Market Forecast, By Type 13.18.1. Electric Top Drives 13.18.2. Hydraulic Top Drives 13.19. Japan Top Drive Systems Market Forecast, By Application 13.19.1. Onshore 13.19.2. Offshore 13.20. Japan Top Drive Systems Market Forecast, by Vessel Type 13.20.1. Jackup Rigs 13.20.2. Semisubmersible Rigs 13.20.3. Drillships 13.21. ASEAN Top Drive Systems Market Forecast, By Type 13.21.1. Electric Top Drives 13.21.2. Hydraulic Top Drives 13.22. ASEAN Top Drive Systems Market Forecast, By Application 13.22.1. Onshore 13.22.2. Offshore 13.23. ASEAN Top Drive Systems Market Forecast, by Vessel Type 13.23.1. Jackup Rigs 13.23.2. Semisubmersible Rigs 13.23.3. Drillships 13.24. Rest of Asia Pacific Top Drive Systems Market Forecast, By Type 13.24.1. Electric Top Drives 13.24.2. Hydraulic Top Drives 13.25. Rest of Asia Pacific Top Drive Systems Market Forecast, By Application 13.25.1. Onshore 13.25.2. Offshore 13.26. Rest of Asia Pacific Top Drive Systems Market Forecast, by Vessel Type 13.26.1. Jackup Rigs 13.26.2. Semisubmersible Rigs 13.26.3. Drillships 13.27. Asia Pacific Top Drive Systems Market Attractiveness Analysis 13.27.1. By Type 13.27.2. By Application 13.27.3. By Vessel Type 13.28. PEST Analysis 13.29. Key Trends 13.30. Key Development 14. Middle East & Africa Top Drive Systems Market Analysis 14.1. Key Findings 14.2. Middle East & Africa Top Drive Systems Market Overview 14.3. Middle East & Africa Top Drive Systems Market Value Share Analysis, By Type 14.4. Middle East & Africa Top Drive Systems Market Forecast, By Type 14.4.1. Electric Top Drives 14.4.2. Hydraulic Top Drives 14.5. Middle East & Africa Top Drive Systems Market Value Share Analysis, By Application 14.6. Middle East & Africa Top Drive Systems Market Forecast, By Application 14.6.1. Onshore 14.6.2. Offshore 14.7. Middle East & Africa Top Drive Systems Market Value Share Analysis, by Vessel Type 14.8. Middle East & Africa Top Drive Systems Market Forecast, by Vessel Type 14.8.1. Jackup Rigs 14.8.2. Semisubmersible Rigs 14.8.3. Drillships 14.9. Middle East & Africa Top Drive Systems Market Value Share Analysis, by Country 14.10. Middle East & Africa Top Drive Systems Market Forecast, by Country 14.10.1. GCC 14.10.2. South Africa 14.10.3. Rest of Middle East & Africa 14.11. Middle East & Africa Top Drive Systems Market Analysis, by Country 14.12. GCC Top Drive Systems Market Forecast, By Type 14.12.1. Electric Top Drives 14.12.2. Hydraulic Top Drives 14.13. GCC Top Drive Systems Market Forecast, By Application 14.13.1. Onshore 14.13.2. Offshore 14.14. GCC Top Drive Systems Market Forecast, by Vessel Type 14.14.1. Jackup Rigs 14.14.2. Semisubmersible Rigs 14.14.3. Drillships 14.15. South Africa Top Drive Systems Market Forecast, By Type 14.15.1. Electric Top Drives 14.15.2. Hydraulic Top Drives 14.16. South Africa Top Drive Systems Market Forecast, By Application 14.16.1. Onshore 14.16.2. Offshore 14.17. South Africa Top Drive Systems Market Forecast, by Vessel Type 14.17.1. Jackup Rigs 14.17.2. Semisubmersible Rigs 14.17.3. Drillships 14.18. Rest of Middle East & Africa Top Drive Systems Market Forecast, By Type 14.18.1. Electric Top Drives 14.18.2. Hydraulic Top Drives 14.19. Rest of Middle East & Africa Top Drive Systems Market Forecast, By Application 14.19.1. Onshore 14.19.2. Offshore 14.20. Rest of Middle East & Africa Top Drive Systems Market Forecast, by Vessel Type 14.20.1. Jackup Rigs 14.20.2. Semisubmersible Rigs 14.20.3. Drillships 14.21. Middle East & Africa Top Drive Systems Market Attractiveness Analysis 14.21.1. By Type 14.21.2. By Application 14.21.3. By Vessel Type 14.22. PEST Analysis 14.23. Key Trends 14.24. Key Development 15. South America Top Drive Systems Market Analysis 15.1. Key Findings 15.2. South America Top Drive Systems Market Overview 15.3. South America Top Drive Systems Market Value Share Analysis, By Type 15.4. South America Top Drive Systems Market Forecast, By Type 15.4.1. Electric Top Drives 15.4.2. Hydraulic Top Drives 15.5. South America Top Drive Systems Market Value Share Analysis, By Application 15.6. South America Top Drive Systems Market Forecast, By Application 15.6.1. Onshore 15.6.2. Offshore 15.7. South America Top Drive Systems Market Value Share Analysis, by Vessel Type 15.8. South America Top Drive Systems Market Forecast, by Vessel Type 15.8.1. Jackup Rigs 15.8.2. Semisubmersible Rigs 15.8.3. Drillships 15.9. South America Top Drive Systems Market Value Share Analysis, by Country 15.10. South America Top Drive Systems Market Forecast, by Country 15.10.1. Brazil 15.10.2. Mexico 15.10.3. Rest of South America 15.11. South America Top Drive Systems Market Analysis, by Country 15.12. Brazil Top Drive Systems Market Forecast, By Type 15.12.1. Electric Top Drives 15.12.2. Hydraulic Top Drives 15.13. Brazil Top Drive Systems Market Forecast, By Application 15.13.1. Onshore 15.13.2. Offshore 15.14. Brazil Top Drive Systems Market Forecast, by Vessel Type 15.14.1. Jackup Rigs 15.14.2. Semisubmersible Rigs 15.14.3. Drillships 15.15. Mexico Top Drive Systems Market Forecast, By Type 15.15.1. Electric Top Drives 15.15.2. Hydraulic Top Drives 15.16. Mexico Top Drive Systems Market Forecast, By Application 15.16.1. Onshore 15.16.2. Offshore 15.17. Mexico Top Drive Systems Market Forecast, by Vessel Type 15.17.1. Jackup Rigs 15.17.2. Semisubmersible Rigs 15.17.3. Drillships 15.18. Rest of South America Top Drive Systems Market Forecast, By Type 15.18.1. Electric Top Drives 15.18.2. Hydraulic Top Drives 15.19. Rest of South America Top Drive Systems Market Forecast, By Application 15.19.1. Onshore 15.19.2. Offshore 15.20. Rest of South America Top Drive Systems Market Forecast, by Vessel Type 15.20.1. Jackup Rigs 15.20.2. Semisubmersible Rigs 15.20.3. Drillships 15.21. South America Top Drive Systems Market Attractiveness Analysis 15.21.1. By Type 15.21.2. By Application 15.21.3. By Vessel Type 15.22. PEST Analysis 15.23. Key Trends 15.24. Key Development 16. Company Profiles 16.1. Market Share Analysis, by Company 16.2. Competition Matrix 16.2.1. Competitive Benchmarking of key players by price, presence, market share, applications and R&D investment 16.2.2. New Product Launches and Product Enhancements 16.2.3. Market Consolidation 16.2.3.1. M&A by Regions, Investment and Application 16.2.3.2. M&A Key Players, Forward Integration and Backward Integration 16.3. Company Profiles: Key Players 16.3.1. National Oilwell Varco. 16.3.1.1. Company Overview 16.3.1.2. Financial Overview 16.3.1.3. Product Portfolio 16.3.1.4. Business Strategy 16.3.1.5. Recent Developments 16.3.1.6. Company Footprint 16.3.2. Canrig Drilling Technology Limited 16.3.3. Tesco Corporation 16.3.4. Cameron International Corporation 16.3.5. Aker Solutions AS 16.3.6. Axon Energy Products 16.3.7. Bentec GMBH Drilling & Oilfield Systems 16.3.8. Daqing Jinghong Petroleum Equipment Corporation 16.3.9. Honghua Group Limited 16.3.10. Warrior Manufacturing Service Limited 16.3.11. Oilwell Varco 16.3.12. China National Petroleum Corporation 16.3.13. Schlumberger Limited 16.3.14. Nabors Industries Ltd. 16.3.15. MHWirth AS 16.3.16. Drillmec SpA 16.3.17. GDS International, LLC 16.3.18. Svenska Kullagerfabriken AB (SKF) 16.3.19. KCA Deutag 17. Primary Key Insights