Top Drive Systems Market worth $1,835.84 Million by 2019 - New Report by MarketsandMarkets

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The Top Drive Systems Market is projected to grow from an estimated value of $1477.30 Million in 2012 to $1,835.84 Million by 2019 at a CAGR of 7.6% from 2014 to 2019.



Major players in top drive systems include National Oilwell Varco (U.S.), Tesco Corporation (U.S.), Canrig Drilling Technology Limited (U.S.), Cameron International Corporation (U.S.), Aker Solutions AS (Norway), Axon Energy Products (U.S.)

The report “Top Drive Systems Market by Type (Hydraulic, Electric), by Application (Onshore, Offshore-Jack-ups, Semi-Submersibles, Drillships), & by Geography - Global Trends & Forecasts to 2019”, defines and segments the global Top Drive Systems Market with an analysis and market size forecast.

Browse 123 market data tables with 40 figures spread through 160 pages and in-depth TOC on “Top Drive Systems Market - Global Trends & Forecasts to 2019”.

Early buyers will receive 10% customization on this report.

Top drives market is witnessing substantial growth mainly due to operational and safety benefits they offer which include reduction of hazards by minimizing strenuous work, better pipe handling safety, reduce time consumption, minimize the overall drilling cost, and make drilling process efficient and effective.

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Top drive system installations are mostly happening in North America and Europe. The U.S. holds a significant share in North America which is globally the largest market and is followed by Europe and Asia-Pacific. On the application side, top drives for onshore is the largest segment by value as well as is expected to be quickly growing market in the coming years.

Top drive systems manufacturing companies are increasing investing in research and development activities towards new technologies and new products to capture major markets. Companies are signing new contracts with customers, and acquiring and merging with other players for technological and economic advantages, establishing and expanding the market opportunities for top drives globally. Major players include National Oilwell Varco (U.S.), Tesco Corporation (U.S.), Canrig Drilling Technology Limited (U.S.), Cameron International Corporation (U.S.), Aker Solutions AS (Norway), and Axon Energy Products (U.S.).

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