Yahoo Finance Oilfield Catwalks Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027
Segmented By Type (Mechanized, Hydraulic, Automated), By Location (Onshore, Offshore), By Application (Rod Handling, Productivity, Cycle Time, Rapid Rig-Up, Wireless Control System), By Region.
New York, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oilfield Catwalks Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027" - https://www.reportlinker.com/p06267916/?utm_source=GNW
Global oilfield catwalks market is anticipated to grow with an impressive CAGR value in the mentioned forecast years 2023-2027 on the account of maximizing output of the oil reservoirs. Surge in the demand for the oilfield excavation for effective oil output is further driving the growth of the global oilfield catwalk market in the upcoming five years.
Oilfield catwalks are pipe handling systems that are utilized for the transportation of tubular objects and ancillary equipment between surface and the drill floor.These are elongated platform which is planted adjacent to the rig floor where pipe is laid out and lifted into the derrick.
The machinery is often radio controlled from the drill floor with an integrated indexer. The equipment is usually 0.9 meters tall and is typically made up of steel. The oilfield catwalks are situated perpendicular to the inverted V-shaped opening called as vee-door. The catwalks are a functional area for drilling tool activities, components, tools that are picked up or the ones already running and about to be laid down.
Surging Demand for Oil & Gas Drives Market Growth
Rapidly increasing demand for the oil and gas by automotive industry and other industries is driving the growth of the global oilfield catwalk market in the upcoming five years.Also, surging demand for maximizing the excavation amount of the oil & gas from a particular reservoir is further driving the growth of the global oilfield catwalk market in the next five years.
According to BP statistical review of world energy 2021, global oil production in the year 2020, accounted for 88,391 thousand barrels per day. Out of which 16,476 barrels per day oil production was in the United States alone.
The increased oil production is in response to the rapidly surging demands for the same.To sustain such heavy loads of production every day, best equipment and efficient machinery is much required thereby supporting the growth of the global oilfield catwalk market in the future five years.
Also, surge in the demand for oil & gas excavation from the difficult reservoirs are further substantiating the growth of the global oilfield catwalk market in the forecast years, until 2027.
Market Segmentation
The global oilfield catwalks market segmentation is based on type, location, application, regional distribution, and competitive landscape.Based on type, the market is fragmented into mechanized, hydraulic, and automated.
On the basis of location, the market is differentiated between onshore and offshore.Based on application, the market is further segmented into rod handling, productivity, cycle time, rapid rig-up, and wireless control system.
The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Asia-Pacific region, North American region, European region, South American region, and Middle East & African region.
Company Profile
Forum Energy Technologies Inc., National Oilwell Varco, Bentec GmbH Drilling & Oilfield Systems, Axiom Oilfield Solutions Ltd., Schlumberger Limited, WYCE Innovations, Weatherford International, are enlisted in a partial list of major market players of the global oilfield catwalks market. The existing market players are highly invested in research and product development along with viable service provisions for the consumers. New market entrants may follow similar strategies along with merger and acquisition methods for future brand establishment.
Report Scope:
In this report, global oilfield catwalks market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Oilfield Catwalks Market, By Type:
o Mechanized
o Hydraulic
o Automated
• Oilfield Catwalks Market, By Location:
o Onshore
o Offshore
• Oilfield Catwalks Market, By Application:
o Rod Handling
o Productivity
o Cycle Time
o Rapid Rig-Up
o Wireless Control System
• Oilfield Catwalks Market, By Region:
o North America
United States
Mexico
Canada
o Europe
France
Germany
United Kingdom
Italy
Spain
Poland
Denmark
o Asia-Pacific
China
India
Japan
South Korea
Australia
Singapore
Malaysia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Turkey
Iraq
o South America
Brazil
Argentina
Colombia
Peru
Chile
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global oilfield catwalks market.
Available Customizations:
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06267916/?utm_source=GNW
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