Some of the key findings from our kelly drives market forecast report are summarized below
See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from this report.
Global Kelly Drives Industry Overview
Oil and gas companies are increasingly focusing on automating drilling rigs and associated equipment. A large amount of data collected by the sensors in automated drilling rigs can be compared and analyzed for making correct decisions. Next-generation automated rigs use software to integrate drilling processes such as drill bits, BHA, and other downhole tools with surface equipment. Moreover, the automation of drilling rigs will reduce the risk of accidents caused due to human error and increase the efficiency of oil and gas drilling operations. These advantages of automated drilling rigs will encourage oil and gas companies to replace top drive systems with kelly drives. The emergence of automated drilling rigs will be a critical kelly drive market trend fueling the expansion of the market.
Technological advancements in the oil and gas industry have resulted in increasing exploration activities of untapped reserves. Oil and gas companies are adopting unconventional drilling technologies to explore the large shale deposits in the US and Canada. Governments of various countries are undertaking several initiatives to ensure energy security and enhance oil and gas production. The rising investments in oil and gas drilling activities are expected to boost the adoption of kelly drives for E&P activities. Since kelly drives are less expensive than top drive systems, oil and gas companies will be encouraged to adopt it for E&P activities to get a higher return on investments. The rising E&P activities will be a significant factor responsible for the growth of the kelly drives the market at a CAGR of almost 6% during the forecast period.
Top Kelly Drives Companies Covered in this Market Research Report
The global kelly drives market is fragmented. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this kelly drives market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.
The report offers a detailed analysis of several leading kelly drive manufacturers, including:
- National Oilwell Varco Inc.
- NERUM ENERGY LLC
- RM Holding BV
- Schlumberger Ltd.
- Vallourec SA
Kelly Drives Market Segmentation Based on Application
- Onshore
- Offshore
The onshore segment will account for the highest kelly drives market share. The increasing oil and gas E&P activities, especially in the shale reserves will drive the demand for kelly drives for onshore drilling applications. This report provides an accurate prediction of the contribution of all the segments to the growth of the kelly drives market size.
Kelly Drives Market Segmentation Based on Geographic Region
- APAC
- Europe
- MEA
- North America
- South America
With a complete study of the growth opportunities for the companies, it has been identified that North America will account for the highest share of the kelly drives market throughout the forecast period. The increasing oil and gas drilling activities in North America will be one of the significant factors fueling kelly drives market growth in this region.
Key Highlights of the Global Kelly Drives Market for the Forecast Years 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the kelly drives the market during the next five years
- Precise estimation of the global kelly drives market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the kelly drives industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of kelly drive companies
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch