Driving Innovation: Global Hydraulic Workover Units Market Demand and Opportunities 2018-2025

Press Release

This report studies the global Hydraulic Workover Units market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the global Hydraulic Workover Units market by companies, region, type and end-use industry.

Hydraulic Workover is the most cost efficient method to repair all types of wells both onshore and offshore. The Hydraulic Workover Unit (HWU) is a versatile, cost saving and safe tool to perform sand cleanouts, change-out completions and to repair casing leaks.

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The evolution of Hydraulic Workover (HWO) services can be traced back to the 1920s. Halliburton hydraulic workover operations began in 1929 when Mr. H.C. Otis, Sr. designed, patented and built the worlds first unit to run or pull pipe under pressure.
In the coming years there is an increasing demand for Hydraulic Workover Units in the regions of North America and Europe that is expected to drive the market for more advanced Hydraulic Workover Units. Growth in government budgets in the principal countries, more-intense competition, launches in introducing new products, retrofitting and renovation of old technology, increasing adoption of Hydraulic Workover Units will drive growth in North America and Europe markets.
Globally, the Hydraulic Workover Units industry market is concentrated as the manufacturing technology of Hydraulic Workover Units is relatively matures than some high-tech equipment. And some enterprises, like Halliburton, Superior Energy Services, Precision Drilling, etc. are well-known for the wonderful performance of their Hydraulic Workover Units and related services. At the same time, Middle East and Africa, occupied about 38% revenue market share in 2017, is remarkable in the global Hydraulic Workover Units industry.
The consumption of Hydraulic Workover Units is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of Hydraulic Workover Units industry may not keep that fast. But it is surely forecasted that the market of Hydraulic Workover Units is still promising.
In 2017, the global Hydraulic Workover Units market size was 1670 million US$ and it is expected to reach 2780 million US$ by the end of 2025, with a CAGR of 6.6% during 2018-2025.

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This report focuses on the global top players, covered
Halliburton
Superior Energy Services
Precision Drilling
Basic Energy Services
Cudd Energy Services
Nabors Industries
UMW Oil & Gas
EMAS Energy Services
Archer Limited
High Arctic Energy Services

Market segment by Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India

Market segment by Type, the product can be split into
Workover
Snubbing

Market segment by Application, split into
Onshore
Offshore

The study objectives of this report are:
To study and forecast the market size of Hydraulic Workover Units in global market.
To analyze the global key players, SWOT analysis, value and global market share for top players.
To define, describe and forecast the market by type, end use and region.
To analyze and compare the market status and forecast between China and major regions, namely, United States, Europe, China, Japan, Southeast Asia, India and Rest of World.
To analyze the global key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends and factors driving or inhibiting the market growth.
To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
To strategically profile the key players and comprehensively analyze their growth strategies.

In this study, the years considered to estimate the market size of Hydraulic Workover Units are as follows:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2025
For the data information by region, company, type and application, 2017 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.

Key Stakeholders
Hydraulic Workover Units Manufacturers
Hydraulic Workover Units Distributors/Traders/Wholesalers
Hydraulic Workover Units Subcomponent Manufacturers
Industry Association
Downstream Vendors

Regional and country-level analysis of the Hydraulic Workover Units market, by end-use.
Detailed analysis and profiles of additional market players.