Press release
Top Drive System Market: increasing demand for top drive than rotary table drilling in O&G
The top drive is a mechanical device that facilitates drilling activities for oil and gas industries for onshore and offshore rig projects. There is high demand for automated top drive motor for the top drive rig applications. There is high scope for the rig Top Drive System Market for drilling borehole for oil and gas applications in various regions across the globe during 2016-2021.Scope and Regional Forecast of the Top Drive System Market:
According to the IndustryARC research analysis studies on the Top Drive System Market, North America is the leading region in this market with many companies producing drilling top drive equipment for oil and gas applications.
Asia Pacific is expected to be the fastest growing region in the Top Drive System Market with increasing adoption of top drive equipment and devices by oil and gas industry of the Asia Pacific region suggests IndustryARC analytics during 2016-2021.
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The increasing oil exploration and drilling activities in offshore and onshore projects by the O&G companies, growing demand for oil and gas and capital expenditure for development of automated top drive equipment is driving the scope of the Top Drive System Market during 2016-2021.
Segmentation and Key Players of the Top Drive System Market:
The Top Drive System Market is segmented into various categories in the IndustryARC marketing research report by type, by end user, by application and by geography as follows:
By type: Electric Top Drive (Fixed Electric, Portable electric), Hydraulic Top Drive (Fixed Hydraulic, Portable hydraulic)
By end user: Onshore, Offshore
By application: Drillship, Semisubmersible, Jackup Rig and others
By geography: North America, South America, Europe, Asia Pacific and ROW
The key players in the Top Drive System Market according to the IndustryARC research report are as follows:
• Aker Solutions
• Axon Energy Products
• GDS International, LLC
• Bournedrill Pty Ltd
• Svenska Kullagerfabriken AB (SKF)
The Top Drive System Market is a rapidly growing market with increasing drilling activities which is propelling demand for top drive drilling equipment and top drive components while working on an oil rig and other drilling sites across the globe. This market is expected to have high growth owing to increasing production and supply of rotary table drilling, hydraulic drive system and top drive system drilling and growing demand for top drive drilling system and casing drive system for oil exploration and mining applications in various regions across the globe during 2016-2021.
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IndustryARC is a Research and consulting firm that publishes more than 500 Reports Annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
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