Top Drive Systems Market by Type (Electric & Hydraulic), Application (Onshore & Offshore), Vessel Type (Jackup, Drillship, Semi-Submersible), & by Region (North & South Americas, Europe, APAC, Middle East & Africa) - Global Trends & Forecasts to 2020
The top drive market has been estimated in terms of value ($Million). This report provides an analysis about the drivers, restraints, and opportunities of the global top drive market. Growth in drilling and exploration activities and increasing need for energy from emerging economies are expected to be the major drivers in increasing the usage of top drives globally. However, with the current oil price scenario, the growth would be limited this year; however, it is expected to regain its growth in the coming years once the crude price is stabilized. Furthermore, growing offshore oil & gas reserves provide huge growth opportunities to the top drive market. This report also covers the activities of major key players in this segment, and strategies adopted by them through expansions, mergers & acquisitions, and new product launches.
The global top drive market has been classified into two major segments: electric & hydraulic. The electric top drive system accounted for the major market share of 88%, followed by hydraulic top drives, which held a share of 12% in 2014.
The above figure shows the global top drive market in terms of value ($million) for various geographies from 2015 to 2020. In comparison of other regions, North America dominates the global top drive market, and is expected to continue its dominance in the near future. Major players of the top drive market include National Oilwell Varco (U.S.), Tesco Corporation (U.S.), Canrig Drilling Technology Limited (U.S.), Cameron International Corporation (U.S.), Aker Solutions AS (Norway), Axon Energy Products (U.S.), Bentec GMBH Drilling & Oilfield Systems (Germany), Foremost (Canada), Daqing Jinghong Petroleum Equipment Corporation (China), Honghua Group Limited (China), and Warrior Manufacturing Service Limited (Canada). The top drive market has been classified as follows:
By Type
- Hydraulic
- Electric
- North America
- South America
- Asia-Pacific
- Europe
- Middle East
- Africa
- Onshore
- Offshore
- Jackup
- Drillship
- Semisubmersible
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 YEARS CONSIDERED FOR THE STUDY
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key industry insights
2.1.2.3 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
2.2.1 TOP DOWN APPROACH
2.2.2 BOTTOM-UP APPROACH
2.3 MARKET BREAKDOWN & DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE MARKET OPPORTUNITIES IN TOP DRIVE MARKET
4.2 NORTH AMERICA: THE FASTEST GROWING MARKET IN THE COMING YEARS FOR
TOP DRIVES
4.3 LIFE CYCLE ANALYSIS, BY REGION
4.4 TOP DRIVE MARKE : TOP FOUR COUNTRY
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET SEGMENTATION
5.2.1 BY TYPE
5.2.1.1 Hydraulic top drive
5.2.1.2 Electric top drive
5.3 MARKET DYNAMICS
5.3.1 DRIVERS
5.3.1.1 Increasing deepwater drilling activities
5.3.1.2 Technical and commercial benefits of top drive systems
5.3.1.3 Development of unconventional reserves
5.3.1.4 Increase in demand for drilling rigs
5.3.2 RESTRAINTS
5.3.2.1 Development of unconventional reserves require multimillion-dollar investments
5.3.3 OPPORTUNITIES
5.3.3.1 Operational land rig demand to rise by 40% by 2020
5.3.3.2 North America becomes the leader in drilling activities
5.3.3.3 Increase in international spending
5.3.4 CHALLENGES
5.3.4.1 Environmental concerns & oil spills
5.3.4.2 Political issues & technological incompetence
5.4 IMPACT OF MARKET DYNAMICS
6 INDUSTRY TRENDS
6.1 INTRODUCTION
6.2 VALUE CHAIN ANALYSIS
6.3 PORTER’S FIVE FORCES ANALYSIS
6.3.1 THREAT OF SUBSTITUTES
6.3.2 THREAT OF NEW ENTRANTS
6.3.3 BARGAINING POWER OF BUYERS
6.3.4 BARGAINING POWER OF SUPPLIERS
6.3.5 DEGREE OF COMPETITION
7 OFFHSORE DRILLING RIG MARKET
7.1 INTRODUCTION
7.1.1 SEMISUBMERSIBLES
7.1.2 DRILLSHIPS
7.1.3 JACKUP RIGS
7.1.4 TENDER RIGS
7.1.5 PLATFORM RIGS
7.2 OFFSHORE RIG SUPPLY OVERVIEW
7.2.1 THE U.S. GULF OF MEXICO (U.S. GOM)
7.2.2 WEST AFRICA/MEDITERRANEAN
7.2.3 NORTH SEA
7.2.4 MIDDLE EAST
7.2.1 SOUTH EAST ASIA/INDIA
7.2.2 SOUTH AMERICA
7.2.3 MEXICO
7.2.4 OTHERS
7.3 OFFSHORE RIGS NEWBUILDS
7.3.1 JACKUP NEWBUILDS DELIVERIES
7.3.1.1 Jackups new build deliveries, 2014
7.3.1.2 Jackup newbuild deliveries, 2015
7.3.1.3 Jackup newbuild deliveries, 2016+
7.3.2 DRILLSHIPS NEWBUILDS DELIVERIES
7.3.2.1 Drillships newbuild deliveries, 2014
7.3.2.2 Drillships newbuild deliveries, 2015
7.3.2.3 Drillships newbuild deliveries, 2016
7.3.2.4 Drillships newbuild deliveries, 2017+
7.3.3 SEMISUBMERSIBLES NEW BUILDS DELIVERIES
7.3.3.1 Semisubmersibles new build deliveries, 2014
7.3.3.2 Semisubmersibles newbuild deliveries, 2015
7.3.3.3 Semisubmersibles newbuild deliveries, 2016
7.3.3.4 Semisubmersibles newbuild deliveries, 2017+
8 TOP DRIVE MARKET, BY APPLICATION
8.1 INTRODUCTION
8.2 ONSHORE APPLICATION
8.3 OFFSHORE APPLICATION
8.3.1 OFFSHORE TOP DRIVE MARKET, BY VESSEL TYPE
8.3.2 JACKUP RIGS
8.3.3 SEMISUBMERSIBLE RIGS
8.3.4 DRILLSHIPS
9 TOP DRIVE MARKET, BY TYPE
9.1 INTRODUCTION
9.2 ELECTRIC TOP DRIVES
9.3 HYDRAULIC TOP DRIVES
10 TOP DRIVE MARKET, BY REGION
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.2.1 BY COUNTRY
10.2.1.1 U.S.
10.2.1.2 Canada
10.2.1.3 Mexico
10.2.2 BY TYPES
10.2.3 BY APPLICATION
10.2.3.1 By vessel type
10.3 EUROPE
10.3.1 BY COUNTRY
10.3.1.1 Russia
10.3.1.2 Norway
10.3.1.3 U.K.
10.3.1.4 Others
10.3.2 BY TYPE
10.3.3 BY APPLICATION
10.3.3.1 By vessel type
10.4 ASIA-PACIFIC
10.4.1 BY COUNTRY
10.4.1.1 China
10.4.1.2 Australia
10.4.1.3 India
10.4.1.4 Others
10.4.2 BY TYPE
10.4.3 BY APPLICATION
10.4.3.1 By vessel type
10.5 SOUTH AMERICA
10.5.1 BY COUNTRY
10.5.1.1 Argentina
10.5.1.2 Venezuela
10.5.1.3 Brazil
10.5.1.4 Colombia
10.5.1.5 Others
10.5.2 BY TYPE
10.5.3 BY APPLICATION
10.5.3.1 By vessel type
10.6 MIDDLE EAST
10.6.1 BY COUNTRY
10.6.1.1 Saudi Arabia
10.6.1.2 Iraq
10.6.1.3 Oman
10.6.1.4 Kuwait
10.6.1.5 UAE
10.6.1.6 Others
10.6.2 BY TYPE
10.6.3 BY APPLICATION
10.6.3.1 By vessel type
10.7 AFRICA
10.7.1 BY COUNTRY
10.7.1.1 Nigeria
10.7.1.2 Algeria
10.7.1.3 Egypt
10.7.1.4 Others
10.7.2 BY TYPE
10.7.3 BY APPLICATION
10.7.3.1 By vessel type
11 COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 MARKET SHARE ANALYSIS
11.3 COMPETITIVE SITUATIONS & TRENDS
11.3.1 CONTRACTS & AGREEMENTS
11.3.2 NEW PRODUCT DEVELOPMENTS
11.3.3 MERGERS & ACQUISITIONS
11.3.4 EXPANSIONS
11.3.5 OTHER DEVELOPMENTS
12 COMPANY PROFILES
(Company at a Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
12.1 INTRODUCTION
12.2 AKER SOLUTIONS
12.3 CAMERON INTERNATIONAL CORPORATION
12.4 HONGHUA GROUP LIMITED
12.5 NATIONAL OILWELL VARCO, INC.
12.6 TESCO CORPORATION
12.7 AXON ENERGY PRODUCTS
12.8 BENTEC GMBH DRILLING & OILFIELD SYSTEMS
12.9 CANRIG DRILLING TECHNOLOGY LIMITED
12.10 DAQING JINGHONG PETROLEUM EQUIPMENT CORPORATION
12.11 FOREMOST
12.12 PANJIN LIAOHE OILFIELD TIANYI PETROLEUM EQUIPMENT COMPANY LIMITED
12.13 WARRIOR MANUFACTURING SERVICES LIMITED
*Details on company at a glance, recent financials, products & services, strategies & insights, & recent developments might not be captured in case of unlisted companies.
13 APPENDIX
13.1 INSIGHTS OF INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 AVAILABLE CUSTOMIZATIONS
13.4 INTRODUCING RT: REAL TIME MARKET INTELLIGENCE
13.5 RELATED REPORTS
TABLE 1 IMPACT OF MARKET DYNAMICS
TABLE 2 U.S. GULF OF MEXICO: MOBILE OFFSHORE DRILLING RIG COUNT, 2012–2014
TABLE 3 WEST AFRICA/MEDITERRANEAN: MOBILE OFFSHORE DRILLING RIG COUNT, 2012–2014
TABLE 4 NORTH SEA: MOBILE OFFSHORE DRILLING RIG COUNT, 2012-2014
TABLE 5 MIDDLE EAST: MOBILE OFFSHORE DRILLING RIG COUNT, 2012–2014
TABLE 6 SOUTH EAST ASIA/INDIA: MOBILE OFFSHORE DRILLING RIG COUNT, 2012–2014
TABLE 7 SOUTH AMERICA: MOBILE OFFSHORE DRILLING RIG COUNT, 2012–2014
TABLE 8 MEXICO: MOBILE OFFSHORE DRILLING RIG COUNT, 2012–2014
TABLE 9 OTHERS: MOBILE OFFSHORE DRILLING RIG COUNT, 2012–2014
TABLE 10 GLOBAL JACKUP NEWBUILD DELIVERIES, 2014–2016+
TABLE 11 GLOBAL JACKUP NEWBUILD DELIVERIES, 2014
TABLE 12 GLOBAL JACKUP NEWBUILD DELIVERIES, 2015
TABLE 13 GLOBAL JACKUP NEWBUILD DELIVERIES, 2016+
TABLE 14 GLOBAL DRILLSHIP NEWBUILD DELIVERIES, 2014–2017+
TABLE 15 GLOBAL DRILLSHIP NEWBUILD DELIVERIES, 2014
TABLE 16 GLOBAL DRILLSHIP NEWBUILD DELIVERIES, 2015
TABLE 17 GLOBAL DRILLSHIP NEWBUILD DELIVERIES, 2016
TABLE 18 GLOBAL DRILLSHIP NEWBUILD DELIVERIES, 2017+
TABLE 19 GLOBAL SEMISUBMERSIBLES NEWBUILD DELIVERIES, 2014–2017+
TABLE 20 GLOBAL SEMISUBMERSIBLES NEWBUILD DELIVERIES, 2014
TABLE 21 GLOBAL SEMISUBMERSIBLES NEWBUILD DELIVERIES, 2015
TABLE 22 GLOBAL SEMISUBMERSIBLES NEWBUILD DELIVERIES, 2016
TABLE 23 GLOBAL SEMISUBMERSIBLES NEWBUILD DELIVERIES, 2017
TABLE 24 TOP DRIVE MARKET SIZE, BY APPLICATION, 2013-2020($MILLION)
TABLE 25 ONSHORE TOP DRIVE MARKET SIZE, BY REGION, 2013-2020
TABLE 26 OFFSHORE APPLICATION TOP DRIVE MARKET SIZE, BY REGION, 2013-2020 ($MILLION)
TABLE 27 OFFSHORE TOP DRIVE MARKET SIZE, BY VESSEL TYPE, 2013-2020 ($MILLION)
TABLE 28 JACKUP RIG TOP DRIVE MARKET SIZE, BY REGION, 2013-2020($MILLION)
TABLE 29 SEMISUBMERSIBLES TOP DRIVE MARKET SIZE, BY REGION, 2013-2020 ($MILLION)
TABLE 30 DRILLSHIP TOP DRIVE MARKET SIZE, BY REGION, 2013-2020 ($MILLION)
TABLE 31 TOP DRIVE MARKET SIZE, BY TYPE, 2013-2020 ($MILLION)
TABLE 32 ELECTRIC TOP DRIVE MARKET SIZE, BY REGION, 2013-2020 ($MILLION)
TABLE 33 HYDRAULIC TOP DRIVE MARKET SIZE, BY REGION, 2013-2020($MILLION)
TABLE 34 TOP DRIVE MARKET SIZE, BY REGION, 2013–2020($MILLION)
TABLE 35 NORTH AMERICA: TOP DRIVE MARKET SIZE, BY COUNTRY, 2013–2020($MILLION)
TABLE 36 U.S.: TOP DRIVE MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION)
TABLE 37 CANADA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 38 MEXICO: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020($MILLION)
TABLE 39 NORTH AMERICA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020($MILLION)
TABLE 40 NORTH AMERICA: TOP DRIVE MARKET SIZE, BY APPLICATION, 2013–2020 ($MILLION)
TABLE 41 NORTH AMERICA: OFFSHORE TOP DRIVE MARKET SIZE, BY VESSEL TYPE, 2013–2020 ($MILLION)
TABLE 42 EUROPE: TOP DRIVE MARKET SIZE, BY COUNTRY, 2013–2020 (MILLION)
TABLE 43 RUSSIA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 44 NORWAY: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 45 U.K.: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 (MILLION)
TABLE 46 OTHERS: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 47 EUROPE: TOP DRIVE MARKET, BY TYPE, 2013–2020 ($MILLION)
TABLE 48 EUROPE: TOP DRIVE MARKET SIZE, BY APPLICATION, 2013–2020 ($MILLION)
TABLE 49 EUROPE: OFFSHORE TOP DRIVE MARKET SIZE, BY VESSEL TYPE, 2013–2020 ($MILLION)
TABLE 50 ASIA-PACIFIC: TOP DRIVE MARKET SIZE, BY COUNTRY, 2013–2020($MILLION)
TABLE 51 CHINA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 52 AUSTRALIA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 53 INDIA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 54 OTHERS: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 55 ASIA-PACIFIC: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 56 ASIA-PACIFIC: TOP DRIVE MARKET SIZE, BY APPLICATION, 2013–2020 ($MILLION)
TABLE 57 ASIA-PACIFIC: TOP DRIVE MARKET SIZE, BY VESSEL TYPE, 2013–2020 ($MILLION)
TABLE 58 SOUTH AMERICA: TOP DRIVE MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION)
TABLE 59 ARGENTINA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 60 VENEZUELA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 61 BRAZIL: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 62 COLOMBIA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 63 OTHERS: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 64 SOUTH AMERICA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 65 SOUTH AMERICA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 66 SOUTH AMERICA: OFFSHORE TOP DRIVE MARKET SIZE, BY VESSEL TYPE, 2013–2020 ($MILLION)
TABLE 67 MIDDLE EAST: TOP DRIVE MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION)
TABLE 68 SAUDI ARABIA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 69 IRAQ: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 70 OMAN: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 71 KUWAIT: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 72 UAE: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 73 OTHERS: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 74 MIDDLE EAST: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 75 MIDDLE EAST: TOP DRIVE MARKET SIZE, BY APPLICATION, 2013–2020 ($MILLION)
TABLE 76 MIDDLE EAST: OFFSHORE TOP DRIVE MARKET SIZE, BY VESSEL TYPE, 2013–2020 ($MILLION)
TABLE 77 AFRICA: TOP DRIVE MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION)
TABLE 78 NIGERIA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 79 ALGERIA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 80 EGYPT: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 81 OTHERS: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 82 AFRICA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION)
TABLE 83 AFRICA: TOP DRIVE MARKET SIZE, BY APPLICATION, 2013–2020 ($MILLION)
TABLE 84 AFRICA: OFFSHORE TOP DRIVE MARKET SIZE, BY VESSEL TYPE, 2013–2020 ($MILLION)
TABLE 85 CONTRACTS & AGREEMENTS, 2012-2015
TABLE 86 NEW PRODUCT DEVELOPMENTS, 2012-2015
TABLE 87 MERGERS & ACQUISITIONS, 2012-2015
TABLE 88 EXPANSIONS, 2012-2015
TABLE 89 OTHER DEVELOPMENTS, 2012-2015
A top drive is a device on a drilling rig that provides rotational force to facilitate the process of drilling a well bore. In earlier days, rotary table was used for the same purpose. Top drives are basically an innovative technology to replace kelly and rotary table. It is located at the swivel place and allows a vertical movement up and down the derrick.
The top drive can be defined as a hydraulic or electrical motor suspended from the mast of the drilling rig. It drives and rotates the drill string and bit, thereby making the drilling process easier. It is also a conduit for the circulation fluid. Some of the top drives have pull down chains to allow the rig to utilize some of its weight to provide weight on the bit, especially while drilling at shallow depths.
The major advantage of a top drive lies in the fact that it allows the drilling rig to drill longer sections of a stand of drill pipe. When compared to conventional rotary drilling rigs, those equipped with top drive systems consistently drill faster and safer, with far less instances of stuck drill pipe. In addition, drilling with a top drive allows operators to reach areas and types of formations that would not be accessible with conventional rotary drilling. A rotary table type rig can drill XX-foot (XX m) sections of drill pipe, while a top drive can drill XX–XX-foot (XX m) stands.
Growth in drilling and exploration activities and increasingly strict environmental regulations and norms to ensure safer oil exploration activities, are expected to be major drivers in increasing the usage of top drives, globally. Top drives play a significant role in reducing the hazards and overall cost associated with drilling activity. It is expected to continue to be the predominant method of drilling wells in the future.
Earlier, the use of top drives was uncommon and rotary table/Kelly was used for the same purpose. A top drive is used to facilitate the process of drilling a borehole. It is situated on a drilling rig and provides torque to the drill string, making the drilling process easy With the increase in the demand for drilling rigs, this market is expected to grow as top drives are directly proportional to drilling rigs. Top drives can be used in onshore or offshore rigs, and can be hydraulic or electric. The top drive systems market is expected to be valued at $XX million in 2014 and is estimated to reach $XX million by 2019 at a CAGR of XX% from 2014 to 2019. The growth of the top drive systems market is primarily due to increase in exploration and drilling activities, benefits offered by top drive systems when compared to conventional Kelly/rotary table, and the rising concerns for safety. However, factors such as complexity of the system ,political and technical issues are restraining the growth of this market. The figure below shows the percentage share of top drive systems, by type.
The top drive systems market is estimated to increase by $XX million during the forecast period. It is projected to reach $XX million by 2019 from an estimated market size of $XX million in 2014. North America had the largest market size of $XX million, accounting for XX% of the total share. It was followed by Europe with a market size of $XX million in 2013. In Asia-Pacific, the Chinese top drive systems market is expected to grow rapidly in the next five years.
North America dominated the top drive systems market as U.S. led with more than XX% of the total share in 2013, followed by Europe with XX%. The main driver of this market would be the increase in exploration and drilling activities that will result in the rise of drilling rigs.
On the basis of type, electric top drive systems dominated with XX% of the total share in 2013. The onshore application, on the basis of application, led the top drive systems market with XX% of the total share in 2013. This percentage is expected to become XX% by 2019, with a rise in offshore drilling.
The companies leading the top drive systems market include National Oilwell Varco (U.S.), Tesco Corporation (U.S.), Canrig Drilling Technology Limited (U.S.), Cameron International Corporation (U.S.), Aker Solutions AS (Norway), Axon Energy Products (U.S.), and Bentec GMBH Drilling & Oilfield Systems (Germany).
