Market Overview:
The global land top drive market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for land top drives in onshore and offshore applications. Additionally, the growing demand for electric land top drives is also contributing to the growth of this market. North America is expected to lead the global land top drive market during the forecast period, followed by Europe and Asia Pacific.
Product Definition:
Land Top Drive is a type of transmission that uses gears to transfer power from the engine to the wheels. It is mounted on top of the vehicle, which makes it less susceptible to damage from obstacles on the ground. Land Top Drive is often used in construction and agricultural equipment.
Hydraulic Land Top Drives:
Hydraulic land top drives are used in the mining industry to raise and lower heavy loads from the mine face. These drives use hydraulic energy generated through a mechanism that transfers power to drive the equipment. The hydraulic land top drive system is made up of components such as pump, reservoir, control valve, pressure plate and chain assembly.
Electric Land Top Drives:
Electric land top drives are used in the Land Top Drive (LTD) market to provide a continuous linear motion to the vehicle. The LTD market is majorly used for agriculture and construction equipment. These vehicles have four wheels with solid tires that are driven by an electric motor, which is usually mounted on the rear axle of the truck. The drive system comprises of chains or belts connected to motors, which power hydraulic systems that actuate front and rear axles via interconnecting shafts.
Application Insights:
Onshore was the dominant application segment in 2017 and is expected to continue its dominance over the forecast period. The growth of onshore operations can be attributed to increasing demand for oil & gas from existing reserves as well as from new wells. Furthermore, technological advancements such as high-pressure hydraulic fracturing have led to an increase in onshore exploration activities across various regions which, in turn, is likely to propel market growth over the coming years.
The offshore segment is anticipated to witness significant growth during the forecast period owing to rising investments by companies including BP plc., Statoil ASA., Repsol SAB de CV and Total S.A among others into deepwater exploration activities across various regions including Latin America Pacific Ocean and Indian Ocean basin among others.
Regional Analysis:
Asia Pacific dominated the global land top drive market in 2016 and is expected to continue its dominance over the forecast period. The region’s growth can be attributed to increasing investments in exploration of oil & gas, coal bed methane, and other minerals. In addition, rising demand for energy resources due to growing population is anticipated to propel the regional market growth over the forecast period.
The Middle East & Africa region accounted for a significant share owing to increased focus on hydrocarbon resources across countries such as Saudi Arabia and UAE. Furthermore, increasing offshore drilling activities are also expected drive regional product demand over the next eight years. North America is estimated to grow at a lucrative rate during the same period owing to shale gas developments across U S A and Canada that resulted into an increase in well completion activities leading into an increase in LTO well count from around 500 wells annually before 2010to around 700 wells per year currently (Woodside).
Growth Factors:
- Increasing demand for agricultural products: The global population is increasing at a rapid pace and the demand for food is also rising correspondingly. This is driving the growth of the agricultural sector, which in turn is propelling the Land Top Drive market.
- Rising awareness about precision farming: Precision farming helps farmers to optimize their resources and increase their yield by adopting specific techniques such as using Land Top Drives. As a result, there is an increasing demand for precision farming equipment, which is boosting the Land Top Drive market growth.
- Technological advancements: The development of new technologies has led to innovative products in the Land Top Drive market, thereby stimulating its growth rate. For instance, autonomous tractors that do not require any human intervention are being developed and this is expected to create opportunities for this market in future years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Land Top Drive Market Research Report
By Type
Hydraulic Land Top Drives, Electric Land Top Drives, Mechanical Land Top Drives
By Application
Onshore, Offshore
By Companies
Drillmec, Nabors Industries Ltd., National Oilwell Varco, MHWirth, KAT INDUSTRIES, INC., Schlumberger Limited., Henderson Rigs & Equipment, LLC, Warrior Rig Technologies Limited, Global Drilling Support, Herrenknecht Vertical GmbH
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
189
Number of Tables & Figures
133
Customization Available
Yes, the report can be customized as per your need.
Global Land Top Drive Market Report Segments:
The global Land Top Drive market is segmented on the basis of:
Types
Hydraulic Land Top Drives, Electric Land Top Drives, Mechanical Land Top Drives
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
Onshore, Offshore
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:
- Drillmec
- Nabors Industries Ltd.
- National Oilwell Varco
- MHWirth
- KAT INDUSTRIES, INC.
- Schlumberger Limited.
- Henderson Rigs & Equipment, LLC
- Warrior Rig Technologies Limited
- Global Drilling Support
- Herrenknecht Vertical GmbH
Highlights of The Land Top Drive Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hydraulic Land Top Drives
- Electric Land Top Drives
- Mechanical Land Top Drives
- By Application:
- Onshore
- Offshore
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Land Top Drive 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Land Top Drive is a new, patented drivetrain system that allows for increased power and torque while maintaining fuel efficiency. The Land Top Drive system uses an innovative gearbox design that transfers power to the wheels through a series of gears, allowing for greater acceleration and more efficient use of fuel.
Some of the major companies in the land top drive market are Drillmec, Nabors Industries Ltd., National Oilwell Varco, MHWirth, KAT INDUSTRIES, INC., Schlumberger Limited., Henderson Rigs & Equipment, LLC, Warrior Rig Technologies Limited, Global Drilling Support, Herrenknecht Vertical GmbH.
The land top drive market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Land Top Drive 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 Land Top Drive Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Land Top Drive 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 Land Top Drive 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 Land Top Drive Market Size & Forecast, 2018-2028 4.5.1 Land Top Drive Market Size and Y-o-Y Growth 4.5.2 Land Top Drive Market Absolute $ Opportunity
Chapter 5 Global Land Top Drive 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 Land Top Drive Market Size Forecast by Type
5.2.1 Hydraulic Land Top Drives
5.2.2 Electric Land Top Drives
5.2.3 Mechanical Land Top Drives
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Land Top Drive 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 Land Top Drive Market Size Forecast by Applications
6.2.1 Onshore
6.2.2 Offshore
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Land Top Drive 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 Land Top Drive 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 Land Top Drive Analysis and Forecast
9.1 Introduction
9.2 North America Land Top Drive 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 Land Top Drive Market Size Forecast by Type
9.6.1 Hydraulic Land Top Drives
9.6.2 Electric Land Top Drives
9.6.3 Mechanical Land Top Drives
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 Land Top Drive Market Size Forecast by Applications
9.10.1 Onshore
9.10.2 Offshore
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 Land Top Drive Analysis and Forecast
10.1 Introduction
10.2 Europe Land Top Drive 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 Land Top Drive Market Size Forecast by Type
10.6.1 Hydraulic Land Top Drives
10.6.2 Electric Land Top Drives
10.6.3 Mechanical Land Top Drives
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 Land Top Drive Market Size Forecast by Applications
10.10.1 Onshore
10.10.2 Offshore
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 Land Top Drive Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Land Top Drive 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 Land Top Drive Market Size Forecast by Type
11.6.1 Hydraulic Land Top Drives
11.6.2 Electric Land Top Drives
11.6.3 Mechanical Land Top Drives
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 Land Top Drive Market Size Forecast by Applications
11.10.1 Onshore
11.10.2 Offshore
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 Land Top Drive Analysis and Forecast
12.1 Introduction
12.2 Latin America Land Top Drive 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 Land Top Drive Market Size Forecast by Type
12.6.1 Hydraulic Land Top Drives
12.6.2 Electric Land Top Drives
12.6.3 Mechanical Land Top Drives
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 Land Top Drive Market Size Forecast by Applications
12.10.1 Onshore
12.10.2 Offshore
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) Land Top Drive Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Land Top Drive 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) Land Top Drive Market Size Forecast by Type
13.6.1 Hydraulic Land Top Drives
13.6.2 Electric Land Top Drives
13.6.3 Mechanical Land Top Drives
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) Land Top Drive Market Size Forecast by Applications
13.10.1 Onshore
13.10.2 Offshore
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 Land Top Drive Market: Competitive Dashboard
14.2 Global Land Top Drive Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Drillmec
14.3.2 Nabors Industries Ltd.
14.3.3 National Oilwell Varco
14.3.4 MHWirth
14.3.5 KAT INDUSTRIES, INC.
14.3.6 Schlumberger Limited.
14.3.7 Henderson Rigs & Equipment, LLC
14.3.8 Warrior Rig Technologies Limited
14.3.9 Global Drilling Support
14.3.10 Herrenknecht Vertical GmbH