Global Hydraulic Workover Units Market 2018 by Manufacturers, Countries, Type and Application, Forecast to 2023
Hydraulic Workover is the most cost efficient method to repair all types of wells both onshore and offshore. The Hydraulic Workover Unit (HWU) is a versatile, cost saving and safe tool to perform sand cleanouts, change-out completions and to repair casing leaks.
The evolution of Hydraulic Workover (HWO) services can be traced back to the 1920s. Halliburton hydraulic workover operations began in 1929 when Mr. H.C. Otis, Sr. designed, patented and built the world’s first unit to run or pull pipe under pressure.
Scope of the Report:
This report studies the Hydraulic Workover Units market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Hydraulic Workover Units market by product type and applications/end industries.
In the coming years there is an increasing demand for Hydraulic Workover Units in the regions of North America and Europe that is expected to drive the market for more advanced Hydraulic Workover Units. Growth in government budgets in the principal countries, more-intense competition, launches in introducing new products, retrofitting and renovation of old technology, increasing adoption of Hydraulic Workover Units will drive growth in North America and Europe markets.
Globally, the Hydraulic Workover Units industry market is concentrated as the manufacturing technology of Hydraulic Workover Units is relatively matures than some high-tech equipment. And some enterprises, like Halliburton, Superior Energy Services, Precision Drilling, etc. are well-known for the wonderful performance of their Hydraulic Workover Units and related services. At the same time, Middle East and Africa, occupied about 38% revenue market share in 2017, is remarkable in the global Hydraulic Workover Units industry.
The consumption of Hydraulic Workover Units is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of Hydraulic Workover Units industry may not keep that fast. But it is surely forecasted that the market of Hydraulic Workover Units is still promising.
The global Hydraulic Workover Units market is valued at 1670 million USD in 2017 and is expected to reach 2560 million USD by the end of 2023, growing at a CAGR of 7.4% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Hydraulic Workover Units.
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
Market Segment by Companies, this report covers
Superior Energy Services
Basic Energy Services
Cudd Energy Services
UMW Oil & Gas
EMAS Energy Services
High Arctic Energy Services
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
Market Segment by Applications, can be divided into
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