Drill Subs Industrial and Market studies - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2016 - 2020
"Drill
Subs Market - Global Industry Analysis, Size, Share, Trends,
Analysis, Growth and Forecast 2014 - 2020"
The Report covers current Market Trends, Worldwide Analysis, Global
Forecast, Review, Share, Size, Growth, Effect.
Description-
For
effective exploration and production of oil and gas, each step of the
oil supply chain involves the requirement of complex machinery. Drill
subs are an integral part of drilling activity which is primarily
used to screw together the different parts of drilling string. A
drill string is an essential part of drilling process that transmits
drilling fluid to the drill bit. Drill strings come in different
sizes and have a varying thread size and design. Drill subs are used
to join together the parts of drilling string that cannot be screwed
due to the difference in sizes. The drilling subs are used as an
adapter between two different connection types in the same drill
string. Technological advancements in drilling equipments have
enabled the development of non-conventional resources such as shale
gas and tight oil. The market for drill subs is expected to rise at a
substantial pace owing to increased drilling activities, especially
in offshore locations.
Rapid
economic development is increasing energy demand in the emerging
markets and thus prices of oil have now slowly stabilized after a
recent uncertain environment. The major driver leading the growth of
the oilfield services market is increasing investment in exploration
and production activities. The exploration of non-conventional
resources and increased drilling activities in offshore areas has led
to increased investment in drilling activities which in turn drives
the market for drill subs. Rising regulatory and political pressures
in the exploration and production segment could hinder investment in
the drilling subs market. However with increased drilling activities
in offshore areas and development of oil fields in developing regions
of Latin America and Africa, will encourage investment in drill subs
in the coming future.
The market for drill subs can be segmented based upon the type of
drill sub used in the drilling activity. Rotary, crossover, rotary
reduced section, hoisting, top drive, lifting, kelly saver are some
the primary types of drill subs used in drilling activities. Apart
from joining parts of the drill string, subs can also be utilized to
perform many special functions. Top drive subs can be used between
the drill string and the top drive to reducing the overall repair and
maintenance costs. The drill subs are carefully chosen
according to the requirements of the exploration companies which
depend on the activities to be performed during drilling and
production.
North America due to its rising energy demand and increased drilling
activities of unconventional reserves, provide the major market for
drill subs. The Middle East region is also one of the major markets
investing in drilling activities which results in increasing
requirement of drill subs. Latin America and African regions will
provide opportunities for the growth of the industry, due to its
booming oil and gas industry. Many large offshore projects are
planned in these regions and the major players have started to invest
in these developing regions. However Europe has not yet recovered
from the economic crisis and growth in this region is likely to
increase at a slower rate. However the increasing exploration
activities in offshore locations will provide a potential market for
the growth of drill subs in this region.
Some of the major players investing in this business are Sub Drill
Supply Ltd., Precision Drilling Corporation, Weatherford
International Ltd, Schlumberger Ltd. and Hughes Tool Company.
This research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides
comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This
report is a complete study of current trends in the market, industry
growth drivers, and restraints. It provides market projections for
the coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review
of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
Reasons for Buying this
Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
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