DUBLIN, July 02, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/qk754c/hydraulic) has announced the addition of the "Hydraulic Workover Unit Market by Application, by Services & by Region - Global Trends & Forecast to 2019" report to their offering.
The hydraulic workover unit market is estimated to reach $12.2 billion at a CAGR of 6.6% from 2014 to 2019.
To meet the growing demand for energy particularly in developing countries, there is a need for increasing the need for optimal utilization of oil and gas reserves across the globe. This is evident through the ever increasing wells being drilled all over the world. Over a period of time, a well shows decline in production due to the decrease in the reservoir pressure. Depending upon the geological formation, this decline can be either gradual or steep. For the purpose of slowing down the production decline, operations such as well intervention are undertaken. With the large number of exploration and production activities taking place across the globe, the market for hydraulic workover unit is growing.
The oil & gas industry witnesses high number of the E&P activities every year which is undertaken to meet the growing global energy demand. Hydraulic workover units form an integral part of the well lifecycle and can be used on the drilling, completion and workover phases. It provides increased lifting capacity during well intervention operations which cannot be performed using either a wireline or a coiled tubing unit. Furthermore, the increase in the petroleum production from the regions, such as the Middle East and North America, has exceeded the oil & gas demand which has resulted in the sudden decline of oil prices during the end of 2014.
Hydraulic workover unit also allows the operator to perform workover operations on live wells. This is a unique feature offered by hydraulic workover unit which is particularly useful while performing well intervention on gas wells.
The size of the overall market is determined by forecasting techniques based region-wise well count of both producing wells as well as the new wells that were drilled in different geographical regions which are validated through primary sources. The market is growing at a CAGR of approximately 6.6 % from 2014 to 2019.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Hydraulic Workover Unit Market, By Application
8 Hydraulic Workover Unit Market, By Installation Type
9 Hydraulic Workover Unit Market, By Service
10 Hydraulic Workover Unit Market, By Region
11 Competitive Landscape
12 Company Profiles
- Archer Limited
- Basic Energy Services, Inc.
- CEEM FZE
- Cudd Energy Services, Inc.
- Halliburton Company
- High Arctic Energy Services Inc.
- Key Energy Services
- Nabors Industries Ltd.
- Precision Drilling Corporation
- Superior Energy Services, Inc.
- UMW Oil & Gas Corporation Berhad
For more information visit http://www.researchandmarkets.com/research/qk754c/hydraulic
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SOURCE Research and Markets