Global Oilfield Drilling Elevators Market 2019-2023

Global Oilfield Drilling Elevators Market 2019-2023

Global Oilfield Drilling Elevators Market: About this market

Oilfield drilling elevators are used to fasten drill pipes, drill collars, and the casing to raise and lower pipes in and out of the wellbore during oil and gas drilling operations. Technavio’s oilfield drilling elevators market analysis considers sales from both onshore and offshore applications. Our analysis also considers the sales of oilfield drilling elevators in APAC, Europe, North America, South America, and MEA. In 2018, the onshore segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing oil and E&P activities, especially in shale reserves, will play a significant role in the onshore segment to maintain its market position. Also, our global oilfield drilling elevators market report also looks at factors such as increasing global active rig count, growing upstream investments, rising global energy demand. However, challenges associated with rig floor operations, adoption of alternative energy sources, fluctuations in oil and gas prices may hamper the growth of the oilfield drilling elevators industry over the forecast period.

Global Oilfield Drilling Elevators Market: Overview

Increasing global active rig count

Oil and gas E&P activities are increasing worldwide, following the recovery of global crude oil prices. Owing to the increase in global crude oil prices, oil and gas companies are investing in oil and gas E&P projects to extract oil and gas, and thus enhance oil and gas production and earn greater profits. The increase in drilling activities will lead to a rise in the demand for oil and gas drilling rigs, and in turn, for oilfield drilling equipment such as oilfield drilling elevators. This demand for active rig count will lead to the expansion of the global oilfield drilling elevators market at a CAGR of almost 6% during the forecast period.

Advances in drilling elevator technology

Elevators in oilfield drilling rigs are used to handle drill pipes, drill collars, casings, and tubing pipes while drilling a wellbore. The safety of the crew while handling the rig floor equipment is important as any unsafe handling of the rig floor equipment can lead to accidents and injuries. Therefore, to address this issue, many companies are introducing innovative drilling elevator technology. The advances in drilling elevators can reduce the manual handling of tubular and drill pipes and help to lower the number of accidents on the rig floor. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global oilfield drilling elevators market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global oilfield drilling elevators market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading oilfield drilling elevators manufacturers, that include Forum Energy Technologies Inc., Frank's International NV, National Oilwell Varco Inc., Weatherford International Plc, and Yantai Jereh Oilfield Services Group Co. Ltd.

Also, the oilfield drilling elevators market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.


  • Executive summary
  • Scope of the report
    • Preface
      • Table Product overview
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global oilfield equipment and services market
      • Table Segments of global oilfield equipment and services market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ thousands)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by application
    • Table Application - Market share 2018-2023 (%)
    • Comparison by application
      • Table Comparison by application
    • Onshore - Market size and forecast 2018-2023
      • Table Onshore - Market size and forecast 2018-2023 ($ thousands)
      • Table Onshore - Year-over-year growth 2019-2023 (%)
    • Offshore - Market size and forecast 2018-2023
      • Table Offshore - Market size and forecast 2018-2023 ($ thousands)
      • Table Offshore - Year-over-year growth 2019-2023 (%)
    • Market opportunity by application
      • Table Market opportunity by application
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ thousands)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ thousands)
      • Table MEA - Year-over-year growth 2019-2023 (%)
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ thousands)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ thousands)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ thousands)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Advances in drilling elevator technology
    • Innovations in pipe handing systems
    • Rise in deepwater and ultra-deepwater projects
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Forum Energy Technologies Inc.
      • Table Forum Energy Technologies Inc. - Vendor overview
      • Table Forum Energy Technologies Inc. - Product segments
      • Table Forum Energy Technologies Inc. - Organizational developments
      • Table Forum Energy Technologies Inc. - Geographic focus
      • Table Forum Energy Technologies Inc. - Segment focus
      • Table Forum Energy Technologies Inc. - Key offerings
    • Frank's International NV
      • Table Frank's International NV - Vendor overview
      • Table Frank's International NV - Business segments
      • Table Frank's International NV - Organizational developments
      • Table Frank's International NV - Geographic focus
      • Table Frank's International NV - Segment focus
      • Table Frank's International NV - Key offerings
    • National Oilwell Varco Inc.
      • Table National Oilwell Varco Inc. - Vendor overview
      • Table National Oilwell Varco Inc. - Business segments
      • Table National Oilwell Varco Inc. - Organizational developments
      • Table National Oilwell Varco Inc. - Geographic focus
      • Table National Oilwell Varco Inc. - Segment focus
      • Table National Oilwell Varco Inc. - Key offerings
    • Weatherford International Plc
      • Table Weatherford International Plc - Vendor overview
      • Table Weatherford International Plc - Business segments
      • Table Weatherford International Plc - Organizational developments
      • Table Weatherford International Plc - Segment focus
      • Table Weatherford International Plc - Key offerings
    • Yantai Jereh Oilfield Services Group Co. Ltd.
      • Table Yantai Jereh Oilfield Services Group Co. Ltd. - Vendor overview
      • Table Yantai Jereh Oilfield Services Group Co. Ltd. - Business segments
      • Table Yantai Jereh Oilfield Services Group Co. Ltd. - Organizational developments
      • Table Yantai Jereh Oilfield Services Group Co. Ltd. - Geographic focus
      • Table Yantai Jereh Oilfield Services Group Co. Ltd. - Segment focus
      • Table Yantai Jereh Oilfield Services Group Co. Ltd. - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook