The
oilfield drilling derrick and mast market and it is poised to grow by USD 5.42 million during
2020-2024, progressing at a CAGR of almost 3% during the forecast period. The
report offers an up-to-date analysis regarding the current market scenario,
latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of
various industries, the immediate impact of the outbreak is varied. While a few
industries will register a drop in demand, numerous others will continue to
remain unscathed and show promising growth opportunities. Technavio’s in-depth
research has all your needs covered as our research reports include all
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Frequently Asked Questions-
·
Based on segmentation by application, which is the
leading segment in the market?
·
The onshore segment is expected to be the leading segment in the global
market during the forecast period.
·
What are the major trends in the market?
·
Growing upstream investment is one of the major trends in the market.
·
At what rate is the market projected to grow?
·
Growing at a CAGR of almost 3%, the incremental growth of the market is
anticipated to be USD 5.42 million.
·
Who are the top players in the market?
·
Chengdu Zhonghang Machinery Co. Ltd., Drillmec Spa, FABTECH
International Ltd., Lee C. Moore, A Woolslayer Co., MHWirth AS, National
Oilwell Varco Inc., Schlumberger Ltd., Superior Derrick Services LLC,
Tri-Service Oilfield Manufacturing Ltd., and TSC Group Holdings Ltd. are some
of the major market participants.
·
What are the key market drivers and challenges?
·
Increase in oil and gas E&P activities is one of the major factors
driving the market. However, the challenges associated with rig floor
operations restraints the market growth.
The market is fragmented, and the degree of fragmentation will
accelerate during the forecast period. Chengdu Zhonghang Machinery Co. Ltd.,
Drillmec Spa, FABTECH International Ltd., Lee C. Moore, A Woolslayer Co.,
MHWirth AS, National Oilwell Varco Inc., Schlumberger Ltd., Superior Derrick
Services LLC, Tri-Service Oilfield Manufacturing Ltd., and TSC Group Holdings
Ltd. are some of the major market participants. The increase in oil and gas
E&P activities will offer immense growth opportunities. To make most of the
opportunities, market vendors should focus more on the growth prospects in the
fast-growing segments, while maintaining their positions in the slow-growing
segments.
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impact of COVID-19 at an industry level, a regional level, and subsequent
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upcoming vaccines and pipeline analysis, and significant developments in vendor
operations and government regulations.
Oilfield Drilling Derrick and Mast Market 2020-2024: Segmentation
Oilfield Drilling Derrick and Mast Market is segmented as below:
·
Application
o
Onshore
o
Offshore
·
Geography
o
North America
o
MEA
o
APAC
o
Europe
o
South America
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