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Power Swivel Trends and Forecast
The future of the global power swivel market looks promising with opportunities in the oil & gas, geothermal exploration, and environmental monitoring markets. The global power swivel market is expected to reach an estimated $1.8 billion by 2030 with a CAGR of 4.8% from 2024 to 2030. The major drivers for this market are growing demand for well intervention services, rising awareness about the importance of well intervention and workover activities to maximise the well productivity, and technology development in the power swivel design.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Power Swivel by Segment
The study includes a forecast for the global power swivel by system, application, design, and region.
Power Swivel Market by System [Shipment Analysis by Value from 2018 to 2030]:
• Hydraulic
• Electric
• Mechanical
Power Swivel Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Oil and Gas
• Geothermal Exploration
• Environmental Monitoring
• Others
Power Swivel Market by Design [Shipment Analysis by Value from 2018 to 2030]:
• Gear
• Plate
• Chain
Power Swivel Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Power Swivel Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies power swivel companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the power swivel companies profiled in this report include-
• National Oilwell Varco
• Schlumberger Limited
• Tesco Corporation
• Innovex
• Tasman Oil Tools
• Weatheford International
• Drilling Tools International
Power Swivel Market Insights
Lucintel forecasts that hydraulic will remain the largest segment over the forecast period because of its versatility, efficiency, and operational reliability, as well as, hydraulic power swivels are broadly used in various drilling operations, offering precise control, and smooth rotation.
APAC is expected to witness highest growth over the forecast period because of growing demand for energy, rapid development of various end use industries, as well as rising industrial activities and infrastrcuture projects necissitates efficient drilling operations, well intervention services, and exploration of domestic energy resources.
Features of the Global Power Swivel Market
Market Size Estimates: Power swivel market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Power swivel market size by system, application, design, and region in terms of value ($B).
Regional Analysis: Power swivel market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different system, application, design, and regions for the power swivel market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the power swivel market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the power swivel market size?
Answer: The global power swivel market is expected to reach an estimated $1.8 billion by 2030.
Q2. What is the growth forecast for power swivel market?
Answer: The global power swivel market is expected to grow with a CAGR of 4.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the power swivel market?
Answer: The major drivers for this market are growing demand for well intervention services, rising awareness about the importance of well intervention and workover activities to maximise the well productivity and technology development in the power swivel design.
Q4. What are the major segments for power swivel market?
Answer: The future of the power swivel market looks promising with opportunities in the oil & gas, geothermal exploration, and environmental monitoring markets.
Q5. Who are the key power swivel market companies?
Answer: Some of the key power swivel companies are as follows:
• National Oilwell Varco
• Schlumberger Limited
• Tesco Corporation
• Innovex
• Tasman Oil Tools
• Weatheford International
• Drilling Tools International
Q6. Which power swivel market segment will be the largest in future?
Answer: Lucintel forecasts that hydraulic will remain the largest segment over the forecast period because of its versatility, efficiency, and operational reliability, as well as, hydraulic power swivels are broadly used in various drilling operations, offering precise control, and smooth rotation.
Q7. In power swivel market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period because of growing demand for energy, rapid development of various end use industries, as well as rising industrial activities and infrastrcuture projects necissitates efficient drilling operations, well intervention services, and exploration of domestic energy resources.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the power swivel market by system (hydraulic, electric, and mechanical), application (oil and gas, geothermal exploration, environmental monitoring, and others), design (gear, plate, and chain), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Power Swivel Market, Power Swivel Market Size, Power Swivel Market Growth, Power Swivel Market Analysis, Power Swivel Market Report, Power Swivel Market Share, Power Swivel Market Trends, Power Swivel Market Forecast, Power Swivel Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Power Swivel Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Power Swivel Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Power Swivel Market by System
3.3.1: Hydraulic
3.3.2: Electric
3.3.3: Mechanical
3.4: Global Power Swivel Market by Application
3.4.1: Oil and Gas
3.4.2: Geothermal Exploration
3.4.3: Environmental Monitoring
3.4.4: Others
3.5: Global Power Swivel Market by Design
3.5.1: Gear
3.5.2: Plate
3.5.3: Chain
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Power Swivel Market by Region
4.2: North American Power Swivel Market
4.2.2: North American Power Swivel Market by Application: Oil and Gas, Geothermal Exploration, Environmental Monitoring, and Others
4.3: European Power Swivel Market
4.3.1: European Power Swivel Market by System: Hydraulic, Electric, and Mechanical
4.3.2: European Power Swivel Market by Application: Oil and Gas, Geothermal Exploration, Environmental Monitoring, and Others
4.4: APAC Power Swivel Market
4.4.1: APAC Power Swivel Market by System: Hydraulic, Electric, and Mechanical
4.4.2: APAC Power Swivel Market by Application: Oil and Gas, Geothermal Exploration, Environmental Monitoring, and Others
4.5: ROW Power Swivel Market
4.5.1: ROW Power Swivel Market by System: Hydraulic, Electric, and Mechanical
4.5.2: ROW Power Swivel Market by Application: Oil and Gas, Geothermal Exploration, Environmental Monitoring, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Power Swivel Market by System
6.1.2: Growth Opportunities for the Global Power Swivel Market by Application
6.1.3: Growth Opportunities for the Global Power Swivel Market by Design
6.1.4: Growth Opportunities for the Global Power Swivel Market by Region
6.2: Emerging Trends in the Global Power Swivel Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Power Swivel Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Power Swivel Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: National Oilwell Varco
7.2: Schlumberger Limited
7.3: Tesco Corporation
7.4: Innovex
7.5: Tasman Oil Tools
7.6: Weatheford International
7.7: Drilling Tools International
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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