A top drive system that is electrically powered and used in oil and gas rigs for drilling applications is known as an electric top drive system. Technavio’s analysts forecast the global electric top drive systems market to grow at a CAGR of 3.04% during the period 2018-2022.
Covered in this report The report covers the present scenario and the growth prospects of the global electric top drive systems market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of electric top drive systems across oil and gas industry
The market is divided into the following segments based on geography: • Americas • APAC • EMEA
Technavio’s report, Global Electric Top Drive Systems Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors • Akastor • Honghua America • KCA Deutag • Nabors Industries • National Oilwell Varco • Schlumberger
Market driver • Evolving unconventional oil and gas resources • For a full, detailed list, view our report
Market challenge • Uncertainties associated with low crude oil prices • For a full, detailed list, view our report
Market trend • Rising investments in shale industry • For a full, detailed list, view our report
Key questions answered in this report • What will the market size be in 2022 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space?
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