The global workover rigs market is expected to grow at a CAGR of 3.5% during the forecast period, to reach USD 2.2 billion by 2030. The market is driven by the increasing demand for oil and gas exploration activities in emerging economies such as China and India, which are witnessing an increase in their production of crude oil and natural gas. The increasing number of offshore drilling activities in regions such as North America, Latin America, Europe, Asia Pacific and Middle East & Africa is also driving the growth of this market.
The below 1,000 HP segment accounted for over 50% share of the global workover rigs market in 2017 owing to its low cost-to-operate ratio compared with other segments. This segment is expected to continue its dominance throughout the forecast period due to its low capital expenditure requirements for installation and operation costs associated with it.
Some Of The Growth Factors Of This Market:
- The increasing demand for oil and gas exploration activities in the Middle East and North Africa region is expected to drive the workover rigs market.
- The increasing number of offshore drilling activities in the Asia-Pacific region is expected to drive the workover rigs market.
- The growing need for enhanced oil recovery techniques is expected to fuel the demand for workover rigs in North America, which will lead to a rise in revenue from this segment of the market over time.
- Increasing investments by major players such as Schlumberger Limited, Halliburton Company, Baker Hughes Incorporated, Weatherford International plc., and National Oilwell Varco Inc, among others are also anticipated to boost growth prospects of this market over time.
- Technological advancements such as automation are anticipated to have a positive impact on revenue generation from this segment of the market over time.
Industry Growth Insights published a new data on “Workover Rigs Market”. The research report is titled “Workover Rigs Market research by Types (Below 1,000 Horsepower (HP), 1,000-1,500 Horsepower (HP), Above 1,500 Horsepower (HP)), By Applications (Onshore, Offshore), By Players/Companies Mesa Southern Well Servicing, Sun Well Service, Nordic Gulf, Drillmec Drilling Technologies, Automated Rig Technologies, Moncla Companies, San Antonio Internacional, Eastern Well Services, MBI Energy Services, Superior Energy Services”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Workover Rigs Market Research Report
By Type
Below 1,000 Horsepower (HP), 1,000-1,500 Horsepower (HP), Above 1,500 Horsepower (HP)
By Application
Onshore, Offshore
By Companies
Mesa Southern Well Servicing, Sun Well Service, Nordic Gulf, Drillmec Drilling Technologies, Automated Rig Technologies, Moncla Companies, San Antonio Internacional, Eastern Well Services, MBI Energy Services, Superior Energy Services
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
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Workover Rigs Market Report Segments:
The global Workover Rigs market is segmented on the basis of:
Types
Below 1,000 Horsepower (HP), 1,000-1,500 Horsepower (HP), Above 1,500 Horsepower (HP)
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:
- Mesa Southern Well Servicing
- Sun Well Service
- Nordic Gulf
- Drillmec Drilling Technologies
- Automated Rig Technologies
- Moncla Companies
- San Antonio Internacional
- Eastern Well Services
- MBI Energy Services
- Superior Energy Services
Highlights of The Workover Rigs 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:
- Below 1,000 Horsepower (HP)
- 1,000-1,500 Horsepower (HP)
- Above 1,500 Horsepower (HP)
- 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 Workover Rigs 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
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Workover rigs are specialized equipment used to access and repair oil and gas wells. They can be either surface or subsurface rigs, depending on the type of well they are being used to access.
Some of the major players in the workover rigs market are Mesa Southern Well Servicing, Sun Well Service, Nordic Gulf, Drillmec Drilling Technologies, Automated Rig Technologies, Moncla Companies, San Antonio Internacional, Eastern Well Services, MBI Energy Services, Superior Energy Services.
The workover rigs market is expected to grow at a compound annual growth rate of 3.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Workover Rigs Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Workover Rigs Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Workover Rigs Market - Supply Chain
4.5. Global Workover Rigs Market Forecast
4.5.1. Workover Rigs Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Workover Rigs Market Size (000 Units) and Y-o-Y Growth
4.5.3. Workover Rigs Market Absolute $ Opportunity
5. Global Workover Rigs Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Workover Rigs Market Size and Volume Forecast by Type
5.3.1. Below 1,000 Horsepower (HP)
5.3.2. 1,000-1,500 Horsepower (HP)
5.3.3. Above 1,500 Horsepower (HP)
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Workover Rigs Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Workover Rigs Market Size and Volume Forecast by Application
6.3.1. Onshore
6.3.2. Offshore
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Workover Rigs Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Workover Rigs Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Workover Rigs Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Workover Rigs Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Workover Rigs Demand Share Forecast, 2019-2026
9. North America Workover Rigs Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Workover Rigs Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Workover Rigs Market Size and Volume Forecast by Application
9.4.1. Onshore
9.4.2. Offshore
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Workover Rigs Market Size and Volume Forecast by Type
9.7.1. Below 1,000 Horsepower (HP)
9.7.2. 1,000-1,500 Horsepower (HP)
9.7.3. Above 1,500 Horsepower (HP)
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Workover Rigs Demand Share Forecast, 2019-2026
10. Latin America Workover Rigs Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Workover Rigs Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Workover Rigs Market Size and Volume Forecast by Application
10.4.1. Onshore
10.4.2. Offshore
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Workover Rigs Market Size and Volume Forecast by Type
10.7.1. Below 1,000 Horsepower (HP)
10.7.2. 1,000-1,500 Horsepower (HP)
10.7.3. Above 1,500 Horsepower (HP)
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Workover Rigs Demand Share Forecast, 2019-2026
11. Europe Workover Rigs Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Workover Rigs Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Workover Rigs Market Size and Volume Forecast by Application
11.4.1. Onshore
11.4.2. Offshore
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Workover Rigs Market Size and Volume Forecast by Type
11.7.1. Below 1,000 Horsepower (HP)
11.7.2. 1,000-1,500 Horsepower (HP)
11.7.3. Above 1,500 Horsepower (HP)
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Workover Rigs Demand Share, 2019-2026
12. Asia Pacific Workover Rigs Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Workover Rigs Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Workover Rigs Market Size and Volume Forecast by Application
12.4.1. Onshore
12.4.2. Offshore
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Workover Rigs Market Size and Volume Forecast by Type
12.7.1. Below 1,000 Horsepower (HP)
12.7.2. 1,000-1,500 Horsepower (HP)
12.7.3. Above 1,500 Horsepower (HP)
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Workover Rigs Demand Share, 2019-2026
13. Middle East & Africa Workover Rigs Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Workover Rigs Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Workover Rigs Market Size and Volume Forecast by Application
13.4.1. Onshore
13.4.2. Offshore
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Workover Rigs Market Size and Volume Forecast by Type
13.7.1. Below 1,000 Horsepower (HP)
13.7.2. 1,000-1,500 Horsepower (HP)
13.7.3. Above 1,500 Horsepower (HP)
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Workover Rigs Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Workover Rigs Market: Market Share Analysis
14.2. Workover Rigs Distributors and Customers
14.3. Workover Rigs Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Mesa Southern Well Servicing
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Sun Well Service
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Nordic Gulf
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Drillmec Drilling Technologies
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Automated Rig Technologies
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Moncla Companies
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. San Antonio Internacional
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Eastern Well Services
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. MBI Energy Services
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Superior Energy Services
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
