openPR Logo
Press release

Torquing Tools Market for the Offshore Industry - Global Industry Analysis 2015 - 2023

12-12-2016 12:59 PM CET | Energy & Environment

Press release from: TMR-Research Reports

Torquing Tools Market for the Offshore Industry - Global

The global torquing tools market is expected to expand at a moderate rate in the foreseeable future. The demand for torquing tools is gradually rising, which will drive the global torquing tools market in the years to come. By equipment, the global torquing tools market is segmented into hydraulic bolt tensioners, wind turbine bolt tensioners, hydraulic torque pumps, pneumatic torque wrenches, hydraulic torque wrenches, and electric torque wrenches. Generally, torque tools are used for loosening or tightening industrial bolted joints. The demand for these tools is driven by their expanding end-use industries. Let us look at the primary and secondary drivers of the global torquing tools market.

Primary Driver of Global Torquing Tools Market: Increasing E&P Activities

The global torquing tools market is driven by the rising demand for oil and gas and the increasing exploration and production (E&P) activities in the offshore industry. Furthermore, the elevated number of offshore platforms and depleting oil and gas reserves are projected to add to the demand for torquing tools in the global offshore industry. Some of the applications of torquing tools are blowout preventer, heat exchangers, pumps, valve covers, crackers, compressor stations, and reactors.

Get PDF Brochure for more Professional and Technical industry insights : http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=7847

The continuous advancements in technology deployed in the global oil and gas industry will further fuel the expansion of the global torquing tools market. Rising deepwater and ultra-deepwater activities are also projected to drive the demand for torquing tools in the foreseeable future. Players in the global oil and gas offshore sector are increasingly focusing on implementing programs to boost productivity, optimize application cost, and enhance safety of their personnel.

Global Torquing Tools Market to Benefit from Rising Energy Demand

By end-use, the global torquing tools market is divided into wind energy and oil and gas industry. The growth of these two sectors is expected to fuel the global torquing tools market. Here are some of the factors driving these end-use segments, in turn, impacting the demand for torquing tools.

Players in the global oil and gas offshore market are investing significantly in sustainable and innovative solutions
Rising support from research institutes and universities will drive this innovation
Political climate will impact the growth of the offshore industry directly shaping the growth of the global torquing tools market
Rising energy demand worldwide will offer a plethora of growth opportunities to market players

Browse Report with Full TOC at : http://www.transparencymarketresearch.com/torquing-tools-market.html

Financial Issues to Suppress Global Torquing Tools Market

As mentioned above, the global torquing tools market will grow at a moderate rate. One of the key factors challenging this market’s growth is investment. Risks associated with large offshore projects will constrain the global torquing tools market. For example, wind energy projects are capital intensive and depend on stable conditions for financial support and investments. This poses a significant risk to the investors in the global wind energy industry.

Nevertheless, the investment in emerging economies is rising as players recognize these regions have more growth prospects. It is projected that the emerging economies of Asia Pacific and Africa will greatly drive the global torquing tools market in the near future. The key players operating in the global torquing tools market are Forum Energy Technologies, Clover Tool Company, ITH Bolting Technology, Underwater Engineering Services, and Offshore Bolting.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

90 Sate Street, Suite 700
Albany, NY 12207

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 Torquing Tools Market for the Offshore Industry - Global Industry Analysis 2015 - 2023 here

News-ID: 394292 • Views:

More Releases from TMR-Research Reports

Chemical Mechanical Planarization Market Global Market Opportunity Assessment Study 2024.
Chemical Mechanical Planarization Market Global Market Opportunity Assessment St …
The semiconductor wafer fabrication process includes a critical technological procedure called as chemical mechanical planarization (CMP). The top surface of the wafer is planarized or polished in this procedure to produce a flat surface that is flawless and is essential to make powerful and faster semiconductor devices. Constant improvements in chemical mechanical planarization has significantly helped in enhancing the output of semiconductor devices and that too at a fairly lesser
Oil Storage Market Global Industry Analysis Forecast 2016 – 2024
Oil Storage Market Global Industry Analysis Forecast 2016 – 2024
The global oil storage market is considerably consolidated as the top five players, namely NuStar Energy L.P., Buckeye Partners L.P., Oiltanking GmbH, Kinder Morgan Inc., and Royal Vopak N.V. held over 67% of global market in 2014. Transparency Market Research (TMR) has estimated that the degree of competition will escalate due to increasing investments by some of the key market players. The threat from new entrants is expected to remain
Biofertilizers Market Insights with Key Company Profiles - Forecast to 2025
Biofertilizers Market Insights with Key Company Profiles - Forecast to 2025
A recent intelligence study by Transparency Market Research (TMR) suggests that the global biofertilizers market is largely fragmented, though a few companies do hold slightly dominant position via diverse product portfolio and geographical reach. The report identifies Biomax, PotashCorp Agri Life, Italpollina SpA, Bodisen Biotech, Inc., Protan AG , Novozymes A/S , T. Stanes & Company Limited, Gujarat State Fertilizers and Chemicals Ltd., Symborg S.L, Rashtriya Chemicals and Fertilizers Limited,
Alcohol-Based Disinfectants Market Evolving Industry Trends 2020
Alcohol-Based Disinfectants Market Evolving Industry Trends 2020
The global alcohol-based disinfectants market is foreseen to rake in a high demand in the near future while riding on the ability of the disinfectants to efficiently eliminate germs and evaporate soon after. Besides hand sanitizing, alcohol-based disinfectants could be engaged for other applications such as food sanitization. Since a substantial count of manufacturers perform downstream activities, there could be a high degree of forward integration taking shape in the

All 5 Releases


More Releases for Tool

Data Annotation Tool Market Data Annotation Tool Market
The study on the Global Data Annotation Tool Market published by Fact.MR is a comprehensive analysis of the key factors that are likely to determine the growth of Data Annotation Tool Market in the upcoming years. Further, the study dives deep to investigate the micro and macro-economic parameters that are expected to influence the global scenario of the Data Annotation Tool Market during the forecast period (2022-2031). The report examines the
Research Report and Overview on Titanium Carbide Tool Market, 2020-2026 with Mit …
"Global Titanium Carbide Tool Industry Research Report” Provides Detailed Insight Covering all Important Parameters Including Development Trends, Challenges, Opportunities, Key Insights and Competitive Analysis of Titanium Carbide Tool Market. COVID-19 can affect the global economy in 3 main ways: by directly affecting production and demand, by creating supply chain and market disturbance, and by its financial impact on firms and financial markets. To know How COVID-19 Pandemic will impact this market/industry-DOWNLOAD sample
Aluminum Carbide Tool Market Trend, Segmentation and Forecast to 2025| Mitsubish …
High speed steel tools and carbide tools are widely used machine tools. From which carbide tools are most popular for machining applications. Carbide tools have exceptional characteristics like wear resistance, material strength, chemical inertness and other superior properties. The Aluminum Carbide Tool market was valued at xx Million US$ in 2018 and is projected to reach xx Million US$ by 2025, at a CAGR of xx% during the forecast period. In
Titanium Carbide Tool Market Size Study and Regional Forecasts 2019-2025| Mitsub …
High speed steel tools and carbide tools are widely used machine tools. From which carbide tools are most popular for machining applications. Carbide tools have exceptional characteristics like wear resistance, material strength, chemical inertness and other superior properties. The Titanium Carbide Tool market was valued at xx Million US$ in 2018 and is projected to reach xx Million US$ by 2025, at a CAGR of xx% during the forecast period. In
What's driving the Solid Carbide Tool Market growth? Key Players are: Mitsubishi …
The worldwide market for Solid Carbide Tool is expected to grow at a CAGR of roughly over the next five years, will reach million US$ in 2024, from million US$ in 2019, according to a new Big Market Research study. Get Discount Sample @ https://www.bigmarketresearch.com/request-for-discount/3009309?utm_source=SBL This report focuses on the Solid Carbide Tool in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes
Global Knurling Tool Market 2018-2025 Aloris Tool, Dorian Tool, Sassatelli
Recently added detailed market study "Global Knurling Tool Market" examines the performance of the Knurling Tool market 2018. It encloses an in-depth Research of the Knurling Tool market state and the competitive landscape globally. This report analyzes the potential of Knurling Tool market in the present and the future prospects from various angles in detail. The Global Knurling Tool Market 2018 report includes Knurling Tool market Revenue, market Share, Knurling Tool