openPR Logo
Press release

Geothermal Drilling Rig Market Key Players and Prominent Regions by 2030

12-07-2021 03:25 PM CET | Industry, Real Estate & Construction

Press release from: Transparency Market Research

Albany, NY - Geothermal Drilling Rig Market: Introduction

The global geothermal drilling rig market was valued at US$ 122 Mn in 2019 and is anticipated to expand at a CAGR of 4.5% during the forecast period. In terms of drill bit, the roller cutting bit segment accounted for a major share of the global geothermal drilling rig market in 2019. Roller cutting bits offer several properties such as reduced bit trips, continuous drilling in high-temperature environments, and improved drilling economics with patented metal-face seals. This is expected to boost the roller cutting bit segment of the geothermal drilling rig market in the near future.

In terms of horsepower, the above 900 HP segment held significant share of the global geothermal drilling rig market in 2019. Above 900 HP is used to drill wells with depth more than 1,000 meters. In terms of end use, power plants segment is anticipated to expand at a rapid pace due to the introduction of several geothermal power projects.

Read Report - https://www.transparencymarketresearch.com/pvc-coated-fabrics-market.html

Major Drivers of Geothermal Drilling Rig Market

The consumption of electricity has been rising significantly across the globe since the last few years due to rapid urbanization, increase in investments in industrial infrastructure, and economic growth. The increase in demand for electricity and enactment of strict government regulations to limit carbon emissions from the power sector are compelling companies to introduce highly effective and pollution-free energy generation methods. Geothermal energy is a prominent alternative for fossil fuel. Electricity generation through the utilization of geothermal energy increased by 5% in 2018, more than the average growth in the previous five years. Thus, growth in the production of geothermal energy across the globe is expected to drive the global geothermal drilling rig market during the forecast period, as geothermal drilling rigs are used to drill boreholes to extract the Earth’s heat

Request Sample pages of premium Research Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=77475

Prominent Developments in Geothermal Drilling Rig Market

In May 2020, SIMCO Drilling Equipment, Inc. introduced a new SIMCO PDQ drill pipe. This pipe is used in water well, geothermal, and geotechnical projects. SIMCO PDQ drill pipe carries several advantages. For instance, it makes connections faster by 60% and is easy to handle in the field, as it is 30% lighter than conventional pipes. In March 2020, SIMCO Drilling Equipment, Inc. launched truck-mounted rigs. The compact 3700 trailer can be employed in water well rig, geotechnical drill rig, and geothermal drilling. The trailer has features such as stable drill platform, extra ace for drill rod, as well as room for a proper sized mud pump system.

Europe Leads Geothermal Drilling Rig Market

Europe dominated the global geothermal drilling rig market in 2019. Turkey constituted major share of the geothermal drilling rig market in the region in 2019. The dominance of Turkey in geothermal drilling rig market in Europe can be ascribed to increase in adoption of green technologies such as geothermal in the country. Drilling of geothermal wells entails low cost in Turkey. This is a major factor attracting investment in development of geothermal resources across the country. In turn, this is estimated to propel the geothermal drilling rig market in Turkey in the near future.  The geothermal drilling rig market in Asia Pacific is anticipated to expand during the forecast, period owing to the increase in investments in development of geothermal power plants, primarily in Indonesia and Australia, in order to meet the rising demand for electricity.

Request for covid19 Impact Analysis - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=77475

Competition Landscape of Geothermal Drilling Rig Market

The global geothermal drilling rig market is dominated by several local and regional players. Thus, the global geothermal drilling rig market is fragmented. Prominent players operating in the global geothermal drilling rig market include SIMCO Drilling Equipment, Inc., Gill Rock Drill Co., Inc., Drillmec, Herrenknecht AG, Gill Rock Drill Co., Inc., Geomachine Oy, Bentec GmbH Drilling & Oilfield Systems, Versa-Drill, Mannvit, H. Anger's Söhne, Soilmec Ltd., STREICHER Drilling Technology GmbH, and Huisman Equipment B.V.

Buy now - https://www.transparencymarketresearch.com/checkout.php?rep_id=77475<ype=S

Contact

90 State Street, Suite 700

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com/

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Geothermal Drilling Rig Market Key Players and Prominent Regions by 2030 here

News-ID: 2488489 • Views: 96

More Releases from Transparency Market Research

Ambient Food Packaging Market to Register Substantial Expansion in Next 5 Years …
Ambient food packaging refers to packing a food product in pasteurised and sterilized packs to increase its shelf life. Ambient food packing has become a trend in the food packaging industry and ambient food products are preferred by majority of the consumers over others. Increasing demand for having more empty space in chill cabinets calls for the adoption of the food packaging methods that can offer a better shelf life
Horizontal Fan Coil Market is set to Garner Staggering Revenues by 2027 - TMR
Global Fan Coil Unit Market: Overview According to a new market report pertaining to the global fan coil unit market published by Transparency Market Research the global fan coil unit market is anticipated to reach volume of 11,378.2 thousand units by 2027. The fan coil unit market is projected to expand at a CAGR of 3.6 % from 2019 to 2027 in terms of sale. Growth of the fan coil unit
RTC IC Market – Opportunities in Key Application Sectors by 2029
Global Real-time Clock (RTC) IC Market: Introduction Transparency Market Research delivers key insights on the global real-time clock (RTC) IC market. In terms of revenue, the global real-time clock IC market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in its report on the global real-time clock IC market. A real-time clock IC is a
Healthcare Packaging Market: Explore Top Factors that Will Boost the Global Mark …
Healthcare Packaging Market: Introduction The latest report published by Transparency Market Research on the global healthcare packaging market, includes global industry analysis, share, size, growth trends and forecast for 2021-2029. The current value of the global healthcare packaging market is US$ 100 Bn and is anticipated to expand to US$ 155 Bn by the year 2029. Growth of the pharmaceutical industry and high demand for medicinal supplies & drugs have created

All 5 Releases


More Releases for Drilling

Air Core Drilling Market By Application Dust Drilling, Mist Drilling and Foam Dr …
Allied Market Research published a new report, titled, " Air Core Drilling Market by Application (Dust Drilling, Mist Drilling, Foam Drilling, Aerated Fluid Drilling, and Nitrogen Membrane Drilling), by End-use Industry (Oil & Gas, Mining, and Construction) - Global Opportunity Analysis and Industry Forecast, 2020-2027." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a
Horizontal Directional Drilling Market
https://www.qandqmarketresearch.com/reports/7588092/horizontal-directional-drilling-market-45 The global market size of Horizontal Directional Drilling is $XX million in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million by the end of 2024 with a CAGR of XX% from 2019 to 2024. Global Horizontal Directional Drilling Market Report 2019 Market Size, Share, Price, Trend and Forecast is a professional and indepth study on the current state of the global Horizontal Directional
Drilling Machine Market Report 2018: Segmentation by Type (Portable Drilling Mac …
Global Drilling Machine market research report provides company profile for Halliburton, Atlas Copco, Torquado Drilling Accessories, DATRON, DMTG, DMG MORI, SMTCL, NewTech Drilling Products, Baker Huges, Cheston, National Oilwell Varco and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the
Auger Drilling Market highly fragmented & competitive 2025 - American Drilling R …
Global Auger Drilling Market: Snapshot Auger drilling involves the task of drilling through massive depths that are enough for mining companies to search for minerals seated well below the ground level. One of the distinct features of auger drilling is that it engages three blades attached to a hollow tube that hold the potential to cut through the earth’s surface. The hollow tube of an auger drill is capable of separating
Drilling Rigs Market - Onshore drilling activities have reached maturity
Around the world, there are seven different types of drilling rigs that are currently in use for offshore operations. Drilling rigs are available in a number of sizes that range from single person operated to those capable of making holes several thousands of meters below the earth’s surface. Not only can this, drilling rigs test sub-surface material for a know-how of physical properties of a drill site. Drilling in oil and
Drilling tools – solid drilling, roughing and fine boring By QyResearchReports
Qyresearchreports include new market research report 2017-2022 Drilling Tools Report on Global and United States Market, Status and Forecast, by Players, Types and Applications to its huge collection of research reports. The exploration report here talks about around a few viewpoints relating to the worldwide Drilling Tools market which articulates the present insights and future prospects with reference to the elements at play. The essential point of the exploration report is