Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Drilling Choke Market by Type (Electric Actuator System, Needle-and-seat Choke, Hydraulic Choke), By Application (Petroleum Industry, Mineral Industry, Construction Industry, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Drilling Choke Market by Type (Electric Actuator System, Needle-and-seat Choke, Hydraulic Choke), By Application (Petroleum Industry, Mineral Industry, Construction Industry, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 297458 4200 Electronics & Semiconductor 377 195 Pages 4.6 (36)
                                          

Market Overview:


The global drilling choke market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for oil and gas across the globe. Additionally, the growing construction industry is also expected to fuel the demand for drilling choke in the coming years. The global drilling choke market can be segmented on the basis of type, application, and region. On the basis of type,the market can be divided into electric actuator system, needle-and-seat choke, and hydraulic choke. The electric actuator system segment is projected to grow at a higher CAGR duringthe forecast period owingto its advantages such as low power consumption and easy installation.Onthe basis of application,themarketcanbe dividedinto petroleum industry, mineral industry,, construction industry,, and others).


Global Drilling Choke Industry Outlook


Product Definition:


A drilling choke is a device placed in the drillstring that alters the flow of drilling mud from the bit to the surface. It is important because it allows operators to control and adjust the rate of penetration (ROP) and circulating pressure while drilling.


Electric Actuator System:


Electric actuator system is a device used in drilling chokes to control the actuation and movement of drill string. The electric actuator system market is expected to witness significant growth over the forecast period owing to its ability to provide precise control overactuators, which helps in improving safety while drilling. In addition, it reduces the chances of operator injuries due to accidental bumping or contact with objects while working at high speed.


Needle-and-seat Choke:


The needle-and-seat choke is a device that is used in the drilling of wells to control the flow of fluid at high pressure and temperature. It works by restricting the flow of fluid through any blockage in the well, such as an obstruction or rock.


Application Insights:


Petroleum industry was the dominant application segment and accounted for a market share of over 35% in 2017. The growth is attributed to the increasing demand for crude oil and natural gas across the globe. Petroleum drilling chokes are used with various types of valves, including positive-displacement, pressure-based, multi-port check valve and others to control flow between different sections of a wellbore or within an existing borehole.


The construction industry is anticipated to be one of the fastest growing segments owing to its rising need for hydraulic systems due to high compressive forces required in cementing operations. Drilling chokes are also used during mining activities as they help prevent fluid loss by restricting annular space inside tubing string while allowing free flow outside it thus reducing overall system losses caused by friction along with providing accurate sizing & positioning while installing tubing strings on wells.


Regional Analysis:


Asia Pacific dominated the global drilling chokes market in 2016 and is expected to continue its dominance over the forecast period. The region holds a large number of untapped resources, which are set to be utilized at a faster pace as compared to other regions. This has led to an increase in exploration activities across Asia Pacific, thereby driving product demand across this region.


The Middle East & Africa is anticipated to witness significant growth over the next eight years owing to increasing oil & gas E&P activities in countries such as Saudi Arabia and Qatar. In addition, rising government investments for infrastructure development are also likely boost product demand across this region during the forecast period.


Growth Factors:


  • Increasing demand for oil and gas due to population growth and industrialization
  • Rising investment in exploration and production activities by oil and gas companies
  • Technological advancements in drilling choke technology that improve performance and efficiency
  • Growing popularity of hydraulic fracturing as a means to increase production from shale formations
  • Stringent environmental regulations that promote the use of more efficient drilling choke technologies

Scope Of The Report

Report Attributes

Report Details

Report Title

Drilling Choke Market Research Report

By Type

Electric Actuator System, Needle-and-seat Choke, Hydraulic Choke

By Application

Petroleum Industry, Mineral Industry, Construction Industry, Others

By Companies

Heshka Oil, Axon Energy Products, Agile Magnetics, Lancaster Flow Automation, Retsco Ltd.

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year

2021

Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year

2030

Number of Pages

195

Number of Tables & Figures

137

Customization Available

Yes, the report can be customized as per your need.


Global Drilling Choke Market Report Segments:

The global Drilling Choke market is segmented on the basis of:

Types

Electric Actuator System, Needle-and-seat Choke, Hydraulic Choke

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.

Applications

Petroleum Industry, Mineral Industry, Construction Industry, Others

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. Heshka Oil
  2. Axon Energy Products
  3. Agile Magnetics
  4. Lancaster Flow Automation
  5. Retsco Ltd.

Global Drilling Choke Market Overview


Highlights of The Drilling Choke Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Electric Actuator System
    2. Needle-and-seat Choke
    3. Hydraulic Choke
  1. By Application:

    1. Petroleum Industry
    2. Mineral Industry
    3. Construction Industry
    4. Others
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Drilling Choke Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

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Global Drilling Choke Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?


A drilling choke is a type of device used to restrict the flow of oil or gas from a well. It is typically made up of several metal plates that are clamped around the drill pipe, restricting its flow.

Some of the major players in the drilling choke market are Heshka Oil, Axon Energy Products, Agile Magnetics, Lancaster Flow Automation, Retsco Ltd..

The drilling choke market is expected to register a CAGR of 5.5%.

                                            
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Drilling Choke Market Overview    4.1 Introduction       4.1.1 Market Taxonomy       4.1.2 Market Definition       4.1.3 Macro-Economic Factors Impacting the Market Growth    4.2 Drilling Choke Market Dynamics       4.2.1 Market Drivers       4.2.2 Market Restraints       4.2.3 Market Opportunity    4.3 Drilling Choke Market - Supply Chain Analysis       4.3.1 List of Key Suppliers       4.3.2 List of Key Distributors       4.3.3 List of Key Consumers    4.4 Key Forces Shaping the Drilling Choke Market       4.4.1 Bargaining Power of Suppliers       4.4.2 Bargaining Power of Buyers       4.4.3 Threat of Substitution       4.4.4 Threat of New Entrants       4.4.5 Competitive Rivalry    4.5 Global Drilling Choke Market Size & Forecast, 2018-2028       4.5.1 Drilling Choke Market Size and Y-o-Y Growth       4.5.2 Drilling Choke Market Absolute $ Opportunity

Chapter 5 Global Drilling Choke Market Analysis and Forecast by Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Type
      5.1.2 Basis Point Share (BPS) Analysis by Type
      5.1.3 Absolute $ Opportunity Assessment by Type
   5.2 Drilling Choke Market Size Forecast by Type
      5.2.1 Electric Actuator System
      5.2.2 Needle-and-seat Choke
      5.2.3 Hydraulic Choke
   5.3 Market Attractiveness Analysis by Type

Chapter 6 Global Drilling Choke Market Analysis and Forecast by Applications
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Applications
      6.1.2 Basis Point Share (BPS) Analysis by Applications
      6.1.3 Absolute $ Opportunity Assessment by Applications
   6.2 Drilling Choke Market Size Forecast by Applications
      6.2.1 Petroleum Industry
      6.2.2 Mineral Industry
      6.2.3 Construction Industry
      6.2.4 Others
   6.3 Market Attractiveness Analysis by Applications

Chapter 7 Global Drilling Choke Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Drilling Choke Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Drilling Choke Analysis and Forecast
   9.1 Introduction
   9.2 North America Drilling Choke Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Drilling Choke Market Size Forecast by Type
      9.6.1 Electric Actuator System
      9.6.2 Needle-and-seat Choke
      9.6.3 Hydraulic Choke
   9.7 Basis Point Share (BPS) Analysis by Type 
   9.8 Absolute $ Opportunity Assessment by Type 
   9.9 Market Attractiveness Analysis by Type
   9.10 North America Drilling Choke Market Size Forecast by Applications
      9.10.1 Petroleum Industry
      9.10.2 Mineral Industry
      9.10.3 Construction Industry
      9.10.4 Others
   9.11 Basis Point Share (BPS) Analysis by Applications 
   9.12 Absolute $ Opportunity Assessment by Applications 
   9.13 Market Attractiveness Analysis by Applications

Chapter 10 Europe Drilling Choke Analysis and Forecast
   10.1 Introduction
   10.2 Europe Drilling Choke Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Drilling Choke Market Size Forecast by Type
      10.6.1 Electric Actuator System
      10.6.2 Needle-and-seat Choke
      10.6.3 Hydraulic Choke
   10.7 Basis Point Share (BPS) Analysis by Type 
   10.8 Absolute $ Opportunity Assessment by Type 
   10.9 Market Attractiveness Analysis by Type
   10.10 Europe Drilling Choke Market Size Forecast by Applications
      10.10.1 Petroleum Industry
      10.10.2 Mineral Industry
      10.10.3 Construction Industry
      10.10.4 Others
   10.11 Basis Point Share (BPS) Analysis by Applications 
   10.12 Absolute $ Opportunity Assessment by Applications 
   10.13 Market Attractiveness Analysis by Applications

Chapter 11 Asia Pacific Drilling Choke Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Drilling Choke Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Drilling Choke Market Size Forecast by Type
      11.6.1 Electric Actuator System
      11.6.2 Needle-and-seat Choke
      11.6.3 Hydraulic Choke
   11.7 Basis Point Share (BPS) Analysis by Type 
   11.8 Absolute $ Opportunity Assessment by Type 
   11.9 Market Attractiveness Analysis by Type
   11.10 Asia Pacific Drilling Choke Market Size Forecast by Applications
      11.10.1 Petroleum Industry
      11.10.2 Mineral Industry
      11.10.3 Construction Industry
      11.10.4 Others
   11.11 Basis Point Share (BPS) Analysis by Applications 
   11.12 Absolute $ Opportunity Assessment by Applications 
   11.13 Market Attractiveness Analysis by Applications

Chapter 12 Latin America Drilling Choke Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Drilling Choke Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Drilling Choke Market Size Forecast by Type
      12.6.1 Electric Actuator System
      12.6.2 Needle-and-seat Choke
      12.6.3 Hydraulic Choke
   12.7 Basis Point Share (BPS) Analysis by Type 
   12.8 Absolute $ Opportunity Assessment by Type 
   12.9 Market Attractiveness Analysis by Type
   12.10 Latin America Drilling Choke Market Size Forecast by Applications
      12.10.1 Petroleum Industry
      12.10.2 Mineral Industry
      12.10.3 Construction Industry
      12.10.4 Others
   12.11 Basis Point Share (BPS) Analysis by Applications 
   12.12 Absolute $ Opportunity Assessment by Applications 
   12.13 Market Attractiveness Analysis by Applications

Chapter 13 Middle East & Africa (MEA) Drilling Choke Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Drilling Choke Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Drilling Choke Market Size Forecast by Type
      13.6.1 Electric Actuator System
      13.6.2 Needle-and-seat Choke
      13.6.3 Hydraulic Choke
   13.7 Basis Point Share (BPS) Analysis by Type 
   13.8 Absolute $ Opportunity Assessment by Type 
   13.9 Market Attractiveness Analysis by Type
   13.10 Middle East & Africa (MEA) Drilling Choke Market Size Forecast by Applications
      13.10.1 Petroleum Industry
      13.10.2 Mineral Industry
      13.10.3 Construction Industry
      13.10.4 Others
   13.11 Basis Point Share (BPS) Analysis by Applications 
   13.12 Absolute $ Opportunity Assessment by Applications 
   13.13 Market Attractiveness Analysis by Applications

Chapter 14 Competition Landscape 
   14.1 Drilling Choke Market: Competitive Dashboard
   14.2 Global Drilling Choke Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details â€“ Overview, Financials, Developments, Strategy) 
      14.3.1 Heshka Oil
      14.3.2 Axon Energy Products
      14.3.3 Agile Magnetics
      14.3.4 Lancaster Flow Automation
      14.3.5 Retsco Ltd.

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