Insights & Forecast With Potential Impact of COVID-19 - Workover Rigs Market 2020-2024 | Growing Demand for Oil and Natural Gas to Boost Growth | Technavio

Technavio has been monitoring the workover rigs market and it is poised to grow by $ 254.51 million during 2020-2024, progressing at a CAGR of over 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.

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Technavio has announced its latest market research report titled Global Workover Rigs Market 2020-2024 (Graphic: Business Wire)

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Basic Energy Services Inc., Bentec GmbH Drilling and Oilfield Systems, China National Petroleum Corp., Drillmec Spa, Nabors Industries Ltd., National Energy Services Reunited Corp., National Oilwell Varco Inc., Precision Drilling Corp., Schlumberger Ltd., and Yantai Jereh Oilfield Services Group Co. Ltd. are some of the major market participants. To make the 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.

Growing demand for oil and natural gas has been instrumental in driving the growth of the market. However, the emergence of rigless well intervention and abandonment technologies might hamper market growth.

Workover Rigs Market 2020-2024 : Segmentation

Workover Rigs Market is segmented as below:

• Application
  • Onshore
  • Offshore
• Geography
  • North America
  • MEA
  • APAC
  • Europe
  • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44023

Workover Rigs Market 2020-2024 : Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our workover rigs market report covers the following areas:

• Workover Rigs Market size
• Workover Rigs Market trends
• Workover Rigs Market industry analysis

This study identifies the use of laser technology in workover operations as one of the prime reasons driving the workover rigs market growth during the next few years.

Workover Rigs Market 2020-2024 : Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the workover rigs market, including some of the vendors such as Basic Energy Services Inc., Bentec GmbH Drilling and Oilfield Systems, China National Petroleum Corp., Drillmec Spa, Nabors Industries Ltd., National Energy Services Reunited Corp., National Oilwell Varco Inc., Precision Drilling Corp., Schlumberger Ltd., and Yantai Jereh Oilfield Services Group Co. Ltd. Backed with competitive intelligence and benchmarking, our research reports on the workover rigs market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Workover Rigs Market 2020-2024 : Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist workover rigs market growth during the next five years
• Estimation of the workover rigs market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the workover rigs market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of workover rigs market vendors

Table Of Contents :

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Application

• Market segments
• Comparison by Application
• Onshore - Market size and forecast 2019-2024
• Offshore - Market size and forecast 2019-2024
• Market opportunity by Application

Customer Landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendor landscape
• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Basic Energy Services Inc.
• Bentec GmbH Drilling and Oilfield Systems
• China National Petroleum Corp.
• Drillmec Spa
• Nabors Industries Ltd.
• National Energy Services Reunited Corp.
• National Oilwell Varco Inc.
• Precision Drilling Corp.
• Schlumberger Ltd.
• Yantai Jereh Oilfield Services Group Co. Ltd.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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View source version on businesswire.com: https://www.businesswire.com/news/home/20200716005329/en/