Allied Market Research

2024

Oilfield Rotary Table Market

Oilfield Rotary Table Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type and, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

EP : Equipment and Devices

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Author's: | Eswara Prasad
Publish Date:

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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. 

COVID-19 scenario analysis:

The outbreak of the COVID-19 pandemic has severely affected the global oilfield rotary table market.

  • Nationwide lockdown imposed by several governments to contain the virus has caused most of the business activities to either slow down or even put to a halt. This has caused a significant decrease in demand for fuel across the globe, thereby affecting the oilfield rotary table market.
  • Attributed to travel restrictions on national and international transport, the demand for petrol and diesel decreased to a great extent along with the prices of crude oil. This has caused severe impacts on the 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:

  • This study presents the analytical depiction of the global oilfield rotary table market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global oilfield rotary table market share.
  • The current market is quantitatively analyzed to highlight the global oilfield rotary table market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.

Oilfield Rotary Table Market Report Highlights

Aspects Details
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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By Type
  • 500 Tons – 1,000 Tons
  • 1,000 Tons – 1,500 Tons
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By Application
  • Onshore
  • Off-shore
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Key Market Players

Shaanxi FYPE Rigid Machinery Co., Ltd., National Oilwell Varco Inc., Pickett Oilfield, YZS, Chengdu Zhonghang Machinery Co. Ltd., CMIC Ocean En-Tech Holding Co. Ltd.,, Schlumberger Ltd., RM Holding BV,, MHWirth AS

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Oilfield Rotary Table Market

Global Opportunity Analysis and Industry Forecast, 2023-2032