Hydraulic Workover Unit Market by Application, by Services, & by Region - Global Trends & Forecast to 2019

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Apr 28, 2015, 11:20 ET

LONDON, April 28, 2015 /PRNewswire/ -- This report estimates the hydraulic workover unit market in terms of value in $million. This has been broken down into component regions and further split into countries.

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.

This report also includes the profiles for leading oilfield service provider, and equipment manufacturers, such as:
Nabors Industries Ltd. (Bermuda), Key Energy Services (U.S.), Superior Energy Services, Inc. (U.S.), and Halliburton Company (U.S.), Archer Limited (Bermuda), Basic Energy services, Inc (U.S.), Canadian Energy Equipment Manufacturing FZE (UAE), Cudd Energy Services, Inc. (U.S.), High Arctic Energy Services (Canada), Precision Drilling Corporation (Canada), and UMW Oil & Gas Corporation Berhad (Malaysia).

Scope of the report:
This study estimates the global market of hydraulic workover unit, in terms of service, till 2019. It also offers a detailed qualitative and quantitative analysis of this market.

This report provides a comprehensive review of major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues of the market. The report also covers various important aspects of the market. These include analysis of value chain, Porter's Five Forces model, competitive landscape, market dynamics, market estimates in terms of value, and future trends in the hydraulic workover unit market.

Various secondary sources have been used such as encyclopedias, directories, and databases to identify and collect information that was useful for this extensive commercial study of the global hydraulic workover unit market. The primary sources – experts, manufacturers, and service providers from the industry have all been interviewed to obtain and verify critical information as well as assess future prospects of the global hydraulic workover unit market.

On the basis of services: Workover Services, and Snubbing Services.

On the basis of applications: Onshore Applications, and Offshore Applications.

On the basis of regions: North America, Europe, South America, Asia-Pacific, and the Middle-East and Africa.

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