Hydraulic Workover Units Market By Capacity, By Installation, By Services, By Application: Global Opportunity Analysis and Industry Forecast, 2021-2031

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Market dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
3.5. COVID-19 Impact Analysis on the market

CHAPTER 4: HYDRAULIC WORKOVER UNITS MARKET, BY CAPACITY
4.1 Overview
4.1.1 Market size and forecast
4.2 50 tons
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3 51 to 150 tons
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
4.4 Above 150 tons
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market share analysis by country

CHAPTER 5: HYDRAULIC WORKOVER UNITS MARKET, BY INSTALLATION
5.1 Overview
5.1.1 Market size and forecast
5.2 Skid Mount
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3 Trailer Mount
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country

CHAPTER 6: HYDRAULIC WORKOVER UNITS MARKET, BY SERVICES
6.1 Overview
6.1.1 Market size and forecast
6.2 Workover
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market share analysis by country
6.3 Snubbing
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market share analysis by country

CHAPTER 7: HYDRAULIC WORKOVER UNITS MARKET, BY APPLICATION
7.1 Overview
7.1.1 Market size and forecast
7.2 Onshore
7.2.1 Key market trends, growth factors and opportunities
7.2.2 Market size and forecast, by region
7.2.3 Market share analysis by country
7.3 Offshore
7.3.1 Key market trends, growth factors and opportunities
7.3.2 Market size and forecast, by region
7.3.3 Market share analysis by country

CHAPTER 8: HYDRAULIC WORKOVER UNITS MARKET, BY REGION
8.1 Overview
8.1.1 Market size and forecast
8.2 North America
8.2.1 Key trends and opportunities
8.2.2 North America Market size and forecast, by Capacity
8.2.3 North America Market size and forecast, by Installation
8.2.4 North America Market size and forecast, by Services
8.2.5 North America Market size and forecast, by Application
8.2.6 North America Market size and forecast, by country
8.2.6.1 U. S.
8.2.6.1.1 Key market trends, growth factors and opportunities
8.2.6.1.2 Market size and forecast, by Capacity
8.2.6.1.3 Market size and forecast, by Installation
8.2.6.1.4 Market size and forecast, by Services
8.2.6.1.5 Market size and forecast, by Application
8.2.6.2 Canada
8.2.6.2.1 Key market trends, growth factors and opportunities
8.2.6.2.2 Market size and forecast, by Capacity
8.2.6.2.3 Market size and forecast, by Installation
8.2.6.2.4 Market size and forecast, by Services
8.2.6.2.5 Market size and forecast, by Application
8.2.6.3 Mexico
8.2.6.3.1 Key market trends, growth factors and opportunities
8.2.6.3.2 Market size and forecast, by Capacity
8.2.6.3.3 Market size and forecast, by Installation
8.2.6.3.4 Market size and forecast, by Services
8.2.6.3.5 Market size and forecast, by Application
8.3 Europe
8.3.1 Key trends and opportunities
8.3.2 Europe Market size and forecast, by Capacity
8.3.3 Europe Market size and forecast, by Installation
8.3.4 Europe Market size and forecast, by Services
8.3.5 Europe Market size and forecast, by Application
8.3.6 Europe Market size and forecast, by country
8.3.6.1 Germany
8.3.6.1.1 Key market trends, growth factors and opportunities
8.3.6.1.2 Market size and forecast, by Capacity
8.3.6.1.3 Market size and forecast, by Installation
8.3.6.1.4 Market size and forecast, by Services
8.3.6.1.5 Market size and forecast, by Application
8.3.6.2 France
8.3.6.2.1 Key market trends, growth factors and opportunities
8.3.6.2.2 Market size and forecast, by Capacity
8.3.6.2.3 Market size and forecast, by Installation
8.3.6.2.4 Market size and forecast, by Services
8.3.6.2.5 Market size and forecast, by Application
8.3.6.3 Italy
8.3.6.3.1 Key market trends, growth factors and opportunities
8.3.6.3.2 Market size and forecast, by Capacity
8.3.6.3.3 Market size and forecast, by Installation
8.3.6.3.4 Market size and forecast, by Services
8.3.6.3.5 Market size and forecast, by Application
8.3.6.4 Spain
8.3.6.4.1 Key market trends, growth factors and opportunities
8.3.6.4.2 Market size and forecast, by Capacity
8.3.6.4.3 Market size and forecast, by Installation
8.3.6.4.4 Market size and forecast, by Services
8.3.6.4.5 Market size and forecast, by Application
8.3.6.5 UK
8.3.6.5.1 Key market trends, growth factors and opportunities
8.3.6.5.2 Market size and forecast, by Capacity
8.3.6.5.3 Market size and forecast, by Installation
8.3.6.5.4 Market size and forecast, by Services
8.3.6.5.5 Market size and forecast, by Application
8.3.6.6 Rest of Europe
8.3.6.6.1 Key market trends, growth factors and opportunities
8.3.6.6.2 Market size and forecast, by Capacity
8.3.6.6.3 Market size and forecast, by Installation
8.3.6.6.4 Market size and forecast, by Services
8.3.6.6.5 Market size and forecast, by Application
8.4 Asia-Pacific
8.4.1 Key trends and opportunities
8.4.2 Asia-Pacific Market size and forecast, by Capacity
8.4.3 Asia-Pacific Market size and forecast, by Installation
8.4.4 Asia-Pacific Market size and forecast, by Services
8.4.5 Asia-Pacific Market size and forecast, by Application
8.4.6 Asia-Pacific Market size and forecast, by country
8.4.6.1 China
8.4.6.1.1 Key market trends, growth factors and opportunities
8.4.6.1.2 Market size and forecast, by Capacity
8.4.6.1.3 Market size and forecast, by Installation
8.4.6.1.4 Market size and forecast, by Services
8.4.6.1.5 Market size and forecast, by Application
8.4.6.2 Japan
8.4.6.2.1 Key market trends, growth factors and opportunities
8.4.6.2.2 Market size and forecast, by Capacity
8.4.6.2.3 Market size and forecast, by Installation
8.4.6.2.4 Market size and forecast, by Services
8.4.6.2.5 Market size and forecast, by Application
8.4.6.3 India
8.4.6.3.1 Key market trends, growth factors and opportunities
8.4.6.3.2 Market size and forecast, by Capacity
8.4.6.3.3 Market size and forecast, by Installation
8.4.6.3.4 Market size and forecast, by Services
8.4.6.3.5 Market size and forecast, by Application
8.4.6.4 South Korea
8.4.6.4.1 Key market trends, growth factors and opportunities
8.4.6.4.2 Market size and forecast, by Capacity
8.4.6.4.3 Market size and forecast, by Installation
8.4.6.4.4 Market size and forecast, by Services
8.4.6.4.5 Market size and forecast, by Application
8.4.6.5 Australia
8.4.6.5.1 Key market trends, growth factors and opportunities
8.4.6.5.2 Market size and forecast, by Capacity
8.4.6.5.3 Market size and forecast, by Installation
8.4.6.5.4 Market size and forecast, by Services
8.4.6.5.5 Market size and forecast, by Application
8.4.6.6 Rest of Asia-Pacific
8.4.6.6.1 Key market trends, growth factors and opportunities
8.4.6.6.2 Market size and forecast, by Capacity
8.4.6.6.3 Market size and forecast, by Installation
8.4.6.6.4 Market size and forecast, by Services
8.4.6.6.5 Market size and forecast, by Application
8.5 LAMEA
8.5.1 Key trends and opportunities
8.5.2 LAMEA Market size and forecast, by Capacity
8.5.3 LAMEA Market size and forecast, by Installation
8.5.4 LAMEA Market size and forecast, by Services
8.5.5 LAMEA Market size and forecast, by Application
8.5.6 LAMEA Market size and forecast, by country
8.5.6.1 Brazil
8.5.6.1.1 Key market trends, growth factors and opportunities
8.5.6.1.2 Market size and forecast, by Capacity
8.5.6.1.3 Market size and forecast, by Installation
8.5.6.1.4 Market size and forecast, by Services
8.5.6.1.5 Market size and forecast, by Application
8.5.6.2 South Africa,
8.5.6.2.1 Key market trends, growth factors and opportunities
8.5.6.2.2 Market size and forecast, by Capacity
8.5.6.2.3 Market size and forecast, by Installation
8.5.6.2.4 Market size and forecast, by Services
8.5.6.2.5 Market size and forecast, by Application
8.5.6.3 Saudi Arabia
8.5.6.3.1 Key market trends, growth factors and opportunities
8.5.6.3.2 Market size and forecast, by Capacity
8.5.6.3.3 Market size and forecast, by Installation
8.5.6.3.4 Market size and forecast, by Services
8.5.6.3.5 Market size and forecast, by Application
8.5.6.4 Rest of LAMEA
8.5.6.4.1 Key market trends, growth factors and opportunities
8.5.6.4.2 Market size and forecast, by Capacity
8.5.6.4.3 Market size and forecast, by Installation
8.5.6.4.4 Market size and forecast, by Services
8.5.6.4.5 Market size and forecast, by Application

CHAPTER 9: COMPANY LANDSCAPE
9.1. Introduction
9.2. Top winning strategies
9.3. Product Mapping of Top 10 Player
9.4. Top player positioning, 2021
9.5. Competitive Dashboard
9.6. Competitive Heatmap
9.7. Key developments

CHAPTER 10: COMPANY PROFILES
10.1 Precision Drilling Corporation
10.1.1 Company overview
10.1.2 Key Executives
10.1.3 Company snapshot
10.1.4 Operating business segments
10.1.5 Product portfolio
10.1.6 Business performance
10.1.7 Key strategic moves and developments
10.2 Ceem Canadian Energy Equipment Manufacturing FZE
10.2.1 Company overview
10.2.2 Key Executives
10.2.3 Company snapshot
10.2.4 Operating business segments
10.2.5 Product portfolio
10.2.6 Business performance
10.2.7 Key strategic moves and developments
10.3 Key Energy Services LLC.
10.3.1 Company overview
10.3.2 Key Executives
10.3.3 Company snapshot
10.3.4 Operating business segments
10.3.5 Product portfolio
10.3.6 Business performance
10.3.7 Key strategic moves and developments
10.4 Superior Energy Services, Inc.
10.4.1 Company overview
10.4.2 Key Executives
10.4.3 Company snapshot
10.4.4 Operating business segments
10.4.5 Product portfolio
10.4.6 Business performance
10.4.7 Key strategic moves and developments
10.5 Basic Energy Services, Inc.
10.5.1 Company overview
10.5.2 Key Executives
10.5.3 Company snapshot
10.5.4 Operating business segments
10.5.5 Product portfolio
10.5.6 Business performance
10.5.7 Key strategic moves and developments
10.6 Cudd Energy Services
10.6.1 Company overview
10.6.2 Key Executives
10.6.3 Company snapshot
10.6.4 Operating business segments
10.6.5 Product portfolio
10.6.6 Business performance
10.6.7 Key strategic moves and developments
10.7 National Oilwell Varco, Inc.
10.7.1 Company overview
10.7.2 Key Executives
10.7.3 Company snapshot
10.7.4 Operating business segments
10.7.5 Product portfolio
10.7.6 Business performance
10.7.7 Key strategic moves and developments
10.8 ARCHER
10.8.1 Company overview
10.8.2 Key Executives
10.8.3 Company snapshot
10.8.4 Operating business segments
10.8.5 Product portfolio
10.8.6 Business performance
10.8.7 Key strategic moves and developments
10.9 High Arctic Energy Services, Inc.
10.9.1 Company overview
10.9.2 Key Executives
10.9.3 Company snapshot
10.9.4 Operating business segments
10.9.5 Product portfolio
10.9.6 Business performance
10.9.7 Key strategic moves and developments
10.10 Halliburton Inc
10.10.1 Company overview
10.10.2 Key Executives
10.10.3 Company snapshot
10.10.4 Operating business segments
10.10.5 Product portfolio
10.10.6 Business performance
10.10.7 Key strategic moves and developments
10.11 Nabors Industries Ltd.
10.11.1 Company overview
10.11.2 Key Executives
10.11.3 Company snapshot
10.11.4 Operating business segments
10.11.5 Product portfolio
10.11.6 Business performance
10.11.7 Key strategic moves and developments

Executive Summary

According to this report, titled, 'Hydraulic Workover Units Market,' the hydraulic workover units market was valued at $7.1 billion in 2021, and is estimated to reach $11.0 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.

The Hydraulic workover units Market is likely to experience a significant growth rate of 4.5% from 2022-2031 owing to increasing market demand from oil and gas sector.

Hydraulic workover units are movable pulling devices which are cost-effective and offer a variety of advantages for onshore & offshore projects. The hydraulic workover unit is a versatile, economical, and secure tool for drilling, maintaining, and repairing wells along the shore. The hydraulic workover unit is used to replace traditional drilling and workover rigs at various applications. When a gas well needs to have a well intervention, a hydraulic workover device is useful. The hydraulic workover unit equipment increases lifting capability during well intervention operations which would be impossible with a wireline or coiled tubing unit.

Key factors driving the growth of the hydraulic workover units market include Surge in the usage of crude oil for power generation and Growing shale oil and gas production activities. Multilateral drilling enables producers to diverge from the primary well to access deposits at various depths when oil and natural gas reserves are sometimes found in separate layers under the earth's surface. Manufacturers are drilling multilateral wells, which are single wells with one or more wellbore branches. This technique boosts output from a single well and minimizes the need for surface drilling and also increase the demand for the hydraulic workover units. Moreover, increasing number of exploration activities, hydraulic fracturing, and well-drilling operations are some additional factors anticipated to drive the global hydraulic workover unit market . In the shale rock that contains large accumulations of natural gas and oil, shale natural gas supplies are found. Shale gas production, which is anticipated to increase and industrial shale gas production in nations such as the U.S., Canada, China, and Argentina comprise the majority of this growth.

The market also offers growth opportunities to the key players in the market. In coming years, oil exploration companies will be engaged in the finding, building of excavation projects on both onshore and offshore. Drilling activity is the first step in the excavation project and for which drilling equipment such as hydraulic workover units equipment are required. High demand for the petroleum products in the market resulting into several new excavations projects in different regions which will create the opportunity for global hydraulic workover units market.

For instance, In July 2019, Kuwait signed a USD 600 billion offshore exploration contract with Halliburton. The contract aimed for the drilling of six exploration wells over the course of the following two to three years, with a predicted increase in production of about 100,000 barrels per day.

The hydraulic workover units market is segmented into capacity, installation, service, application and region. On the basis of capacity, the market is categorized into 50 Tons, 51 To 150 Tons and Above 150 Tons. On the basis of installation, it is divided into Skid Mount and Trailer Mount. On the basis of service, it is divided into Workover and Snubbing. On the basis of application, it is divided into Onshore and Offshore. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA).

The hydraulic workover unit market is consolidated in nature with few players such as Ceem Canadian Energy Equipment Manufacturing FZE , Key Energy Services LLC, Precision Drilling Corporation, Superior Energy Services, Inc., National Oilwell Varco, Inc., ARCHER, Basic Energy Services, Inc., Cudd Energy Services, High Arctic Energy Services, Inc., Halliburton Inc and Nabors Industries Ltd which hold significant share of the market. The players in the market have been actively engaged in the adoption various strategies such as acquisition, product launch and expansion to remain competitive and gain advantage over the competitors in the market. For instance, in July 2022, Precision Drilling Corporation acquired High Arctic's Well Servicing & Rentals Divisions. The transaction provides Precision with rental assets, ancillary support equipment, inventories, and spares.

Key Market Insights

By capacity, hydraulic workover units market for 50 tons, registering a CAGR of 3.8% from 2022 to 2031. However, the 51 to 150 tons segment is estimated to be the fastest-growing segment with the CAGR of 4.5% during the forecast period.

By installation, hydraulic workover units market for skid mount, registering a CAGR of 4.1% from 2022 to 2031. However, the trailer mount is expected to have stagnant growth rate of 4.6% CAGR during the hydraulic workover units market forecast.

By service, workover units market, registering a CAGR of 4.5%. However, the snubbing segment is expected to have stagnant growth rate of 3.3% CAGR during the hydraulic workover units market forecast

By application, The hydraulic workover units market, registering a CAGR of 4.6% from 2022 to 2031. However, the offshore segment is expected to have stagnant growth rate of 4.1% CAGR during the hydraulic workover units market forecast
Based on region, North America was the highest revenue contributor, accounting for $2,585.6 million in 2021, and is estimated to reach $4,215.3 million by 2031, with a CAGR of 5.0%.

Companies Mentioned

• Precision Drilling Corporation
• Ceem Canadian Energy Equipment Manufacturing Fze
• Key Energy Services LLC.
• Superior Energy Services, Inc.
• Basic Energy Services, Inc.
• Cudd Energy Services
• National Oilwell Varco, Inc.
• Archer
• High Arctic Energy Services, Inc.
• Halliburton Inc.
• Nabors Industries Ltd.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.