Report Code: A10493 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Oilfield Rotary Table Market
Request Now !A rotary table is a mechanical device used in oil fields. It provides clockwise rotational force to the drilling rig and facilitates the process of drilling a borehole. The rotary tables are driven by large chains that resemble huge bicycle chains. They are equipped with a rotary lock that is used to prevent the rotary from turning in a particular direction or even stopping the circular motion. They are used in both onshore and offshore oil wells mainly to transfer the rotary motion to the Kelly drive system.Â
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the global oilfield rotary table market.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Rapid globalization and industrial development around the world resulted in a steep increase in demand for oil & gas in the market. As a result, the growing number of excavation and production activities of oil & gas companies has acted as a major driver for the growth of the oilfield rotary table market. Moreover, increasing upstream investments by the oil & gas companies and the development of modern drilling equipment add to the growing demand for oilfield rotary table in the market. For instance, Sekal AS, a major international company is offering real-time dynamic monitoring and integrated drilling solutions in the oil & gas industry. Such developments are expected to have positive impacts on the oil field rotate table market. However, the emergence of top drive technology as an alternative along with the fluctuating prices of crude oil might hamper the growth of the global oilfield rotary table market. On the contrary, the growing excavation activities especially in search for shale gas reserves is expected to drive the demand for oilfield rotary tables in the market.
The market in the North America region accounts for a significant share of the global oilfield rotary table market due to increasing investments and the growing number of exploration & production activities of oil & gas companies in the region. The market in the Middle East & Africa region is also expected to witness a lucrative growth due to the presence of high number of oil & gas companies in the region.
Key benefits of the report:
Oilfield Rotary Table Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
Aspects | Details |
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Key Market Players | Schlumberger Ltd., Pickett Oilfield, Shaanxi FYPE Rigid Machinery Co., Ltd., Chengdu Zhonghang Machinery Co. Ltd., MHWirth AS, CMIC Ocean En-Tech Holding Co. Ltd.,, RM Holding BV,, YZS, National Oilwell Varco Inc. |
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