Global Draw Works market is anticipated to grow at a robust growth in the forecast period, 2022-2026 on account of surging demand for the oil and gas derived energy. The surge in the demand for the power and energy sectors to power the machineries, equipment, and other heavy tools is expected to drive the growth of the global Draw Works market in the upcoming five years.

Draw Works are machinery on the rigs consisting of a large-diameter steel spool, brakes, power source among other parts. This machinery helps to hoist, and lift, the drill stem and casing out of the hole. The travelling block is reeled in and reeled out to gain mechanical advantages to support further functions of an oil drill. The reeling out of the drilling line is powered by gravity and reeling in by an electric motor or diesel engine. The Draw Works are often equipped with several types of braking systems to provide maximum performance and safety.

Increasing Number of Oil Rigs Supporting Market Growth

Number of oil rigs are increasing all around the world. By the end of the year 2020, total number of operational onshore oil rigs count to 843 and approximately 173 offshore oil rigs. The demand for the oil and gas extraction is further leading to an increase in the number of oil rigs be it onshore or offshore. Gulf of Mexico leads the number of rigs with about 213 oil rigs followed by Mexico and Brazil with 113 and 104 rigs respectively. With 326 oil rigs in the North American region, the region is also expected to register largest revenue growth in the next five years and support the global Draw Works market. With rapidly increasing number of offshore rigs in the Europe region, the region would hold significant shares too. 173 rigs are distributed between United Kingdom, Germany, Denmark, and Norway.

Research and Development Also Drives Draw Works Market

Extended research and development along with the technological advancement to launch innovative products and ideas is further anticipated to substantiate the growth of the global Draw Works market in the future five years. Draw Works work on both AC and DC energy supplies. The technological advances are made such that the heavy machinery can work efficiently on AC charges. Safety and efficiency are two of the most important sections of the product advancement that many market players are focusing on to launch products that affirms maximum safety and efficiency. Advanced automatic drilling controls, including electronic drilling systems, that use AC motors or friction-plate brakes to precisely control drum payout, maximize bit ROP and bit life, and significantly reduces drilling and tripping time and costs. With the options to decrease the cost of the products the global Draw Works market is further anticipated to register significant growth in the next five years.

Increasing Number of Market Players Promoting Oil Industry

Global oil industry is expanding at an alarming rate, with number of rigs increasing and the extractors and suppliers being more inclined towards benefitting out of oil and gas extractions. Major market players are rearranging their operations and recovering from the pandemic’s impact. Moreover, low interest rates in most of the developed countries is positively affecting the growth of the global draw works market in the upcoming five years. Market players are actively investing in the industry and also encouraging private investments. Developing countries as well as developed countries are gaining from their economic gains from the oil and gas industry, and thus further substantiating the growth of the global Draw Works market in the next five years.


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Market Segmentation

The global Draw Works market is segmented on the basis of component, power source, application, speed, competitional landscape, and regional distribution. Based on component, the market is further fragmented into drum, power source, reduction gear, brake, auxiliary brake, and others. Segmentation on the basis of power source is differentiated into AC, DC. Based on application, the market is segmented into onshore, offshore. On the basis of speed, the market is further bifurcated into single speed gear driven and dual speed gear driven. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Asia-Pacific region, North American region, European region, South American region, and Middle East & African region.

Company Profiles

National Oilwell Varco Inc., Schlumberger Limited, DrawWorks, L.P., Loadmaster Universal Rigs, Inc., Drillmec India Pvt Ltd., Alta Rig Systems Inc., Tri-Service Oilfield Manufacturing Ltd., Century Geophysical, L.L.C., Hannon Hydraulics, Canrig Drilling Technology Ltd., are among the major market players in the global platform that lead the market growth of the global Draw Works market.

Attribute

Details

Base Year

2020

Historical Years

2016 – 2019

Estimated Year

2021

Forecast Period

2022 – 2026

Quantitative Units

Revenue in USD Million, Volume in Units, and CAGR for 2016-2020 and 2021-2026

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Component

·         Power Source

·         Application

·         Speed

Regional Scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country Scope

United States; Mexico; Canada; China; India; Japan; South Korea; Australia; Singapore; Malaysia; Germany; France; United Kingdom; Spain; Poland; Denmark; Italy; Saudi Arabia; UAE; South Africa; Iraq; Turkey; Brazil; Argentina; Colombia; Peru; Chile

Key Companies Profiled

National Oilwell Varco Inc., Schlumberger Limited, DrawWorks, L.P., Loadmaster Universal Rigs, Inc., Drillmec India Pvt Ltd., Alta Rig Systems Inc., Tri-Service Oilfield Manufacturing Ltd., Century Geophysical, L.L.C., Hannon Hydraulics, Canrig Drilling Technology Ltd.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, global Draw Works market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Draw Works Market, By Component:
    • Drum
    • Power Source
    • Reduction Gear
    • Brake
    • Auxiliary Brake
    • Others
  • Draw Works Market, By Power Source:
    • AC
    • DC
  • Draw Works Market, By Application:
    • Onshore
    • Offshore
  • Draw Works Market, By Speed:
    • Single Speed Gear Driven
    • Dual Speed Gear Driven
  • Draw Works Market, By Region:
    • North America
      • United States
      • Mexico
      • Canada
    • Europe
      • France
      • Germany
      • United Kingdom
      • Italy
      • Spain
      • Poland
      • Denmark
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
      • Singapore
      • Malaysia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Iraq
      • Turkey
    • South America
      • Brazil
      • Argentina
      • Colombia
      • Peru
      • Chile

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global Draw Works market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
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1.     Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Global Draw Works Market

4.    Executive Summary

5.    Voice of Customers

5.1.  Brand Awareness

5.2.  Factors Considered while Purchasing the Product

5.3.  Customer Satisfaction Level

5.4.  Major Challenges Faced

6.    Global Draw Works Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Component (Drum, Power Source, Reduction Gear, Brake, Auxiliary Brake, Others)

6.2.2.     By Power Source (AC, DC)

6.2.3.     By Application (Onshore, Offshore)

6.2.4.     By Speed (Single Speed Gear Driven, Dual Speed Gear Driven)

6.2.5.     By Company

6.3.  Product Market Map

7.    North America Draw Works Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Component

7.2.2.     By Power Source

7.2.3.     By Application

7.2.4.     By Speed

7.2.5.     By Country

7.3.  North America: Country Analysis

7.3.1.     United States Draw Works Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value 

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Component

7.3.1.2.2.             By Power Source

7.3.1.2.3.             By Application

7.3.1.2.4.             By Speed

7.3.2.     Canada Draw Works Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value 

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Component

7.3.2.2.2.             By Power Source

7.3.2.2.3.             By Application

7.3.2.2.4.             By Speed

7.3.3.     Mexico Draw Works Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value 

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Component

7.3.3.2.2.             By Power Source

7.3.3.2.3.             By Application

7.3.3.2.4.             By Speed

8.    Asia-Pacific Draw Works Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Component

8.2.2.     By Power Source

8.2.3.     By Application

8.2.4.     By Speed

8.2.5.     By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.     China Draw Works Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value 

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Component

8.3.1.2.2.             By Power Source

8.3.1.2.3.             By Application

8.3.1.2.4.             By Speed

8.3.2.     India Draw Works Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value 

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Component

8.3.2.2.2.             By Power Source

8.3.2.2.3.             By Application

8.3.2.2.4.             By Speed

8.3.3.     Japan Draw Works Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value 

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Component

8.3.3.2.2.             By Power Source

8.3.3.2.3.             By Application

8.3.3.2.4.             By Speed

8.3.4.     South Korea Draw Works Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value 

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Component

8.3.4.2.2.             By Power Source

8.3.4.2.3.             By Application

8.3.4.2.4.             By Speed

8.3.5.     Australia Draw Works Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value 

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Component

8.3.5.2.2.             By Power Source

8.3.5.2.3.             By Application

8.3.5.2.4.             By Speed

8.3.6.     Singapore Draw Works Market Outlook

8.3.6.1.         Market Size & Forecast

8.3.6.1.1.             By Value 

8.3.6.2.         Market Share & Forecast

8.3.6.2.1.             By Component

8.3.6.2.2.             By Power Source

8.3.6.2.3.             By Application

8.3.6.2.4.             By Speed

8.3.7.     Malaysia Draw Works Market Outlook

8.3.7.1.         Market Size & Forecast

8.3.7.1.1.             By Value 

8.3.7.2.         Market Share & Forecast

8.3.7.2.1.             By Component

8.3.7.2.2.             By Power Source

8.3.7.2.3.             By Application

8.3.7.2.4.             By Speed

9.    Europe Draw Works Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Component

9.2.2.     By Power Source

9.2.3.     By Application

9.2.4.     By Speed

9.2.5.     By Country

9.3.  Europe: Country Analysis

9.3.1.     Germany Draw Works Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value 

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Component

9.3.1.2.2.             By Power Source

9.3.1.2.3.             By Application

9.3.1.2.4.             By Speed

9.3.2.     United Kingdom Draw Works Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value 

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Component

9.3.2.2.2.             By Power Source

9.3.2.2.3.             By Application

9.3.2.2.4.             By Speed

9.3.3.     France Draw Works Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value 

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Component

9.3.3.2.2.             By Power Source

9.3.3.2.3.             By Application

9.3.3.2.4.             By Speed

9.3.4.     Italy Draw Works Market Outlook

9.3.4.1.         Market Size & Forecast

9.3.4.1.1.             By Value 

9.3.4.2.         Market Share & Forecast

9.3.4.2.1.             By Component

9.3.4.2.2.             By Power Source

9.3.4.2.3.             By Application

9.3.4.2.4.             By Speed

9.3.5.     Spain Draw Works Market Outlook

9.3.5.1.         Market Size & Forecast

9.3.5.1.1.             By Value 

9.3.5.2.         Market Share & Forecast

9.3.5.2.1.             By Component

9.3.5.2.2.             By Power Source

9.3.5.2.3.             By Application

9.3.5.2.4.             By Speed

9.3.6.     Poland Draw Works Market Outlook

9.3.6.1.         Market Size & Forecast

9.3.6.1.1.             By Value 

9.3.6.2.         Market Share & Forecast

9.3.6.2.1.             By Component

9.3.6.2.2.             By Power Source

9.3.6.2.3.             By Application

9.3.6.2.4.             By Speed

9.3.7.     Denmark Draw Works Market Outlook

9.3.7.1.         Market Size & Forecast

9.3.7.1.1.             By Value 

9.3.7.2.         Market Share & Forecast

9.3.7.2.1.             By Component

9.3.7.2.2.             By Power Source

9.3.7.2.3.             By Application

9.3.7.2.4.             By Speed

10.  South America Draw Works Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Component

10.2.2.  By Power Source

10.2.3.  By Application

10.2.4.  By Speed

10.2.5.  By Country

10.3.              South America: Country Analysis

10.3.1.  Brazil Draw Works Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value 

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Component

10.3.1.2.2.           By Power Source

10.3.1.2.3.           By Application

10.3.1.2.4.           By Speed

10.3.2.  Argentina Draw Works Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value 

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Component

10.3.2.2.2.           By Power Source

10.3.2.2.3.           By Application

10.3.2.2.4.           By Speed

10.3.3.  Colombia Draw Works Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value 

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Component

10.3.3.2.2.           By Power Source

10.3.3.2.3.           By Application

10.3.3.2.4.           By Speed

10.3.4.  Peru Draw Works Market Outlook

10.3.4.1.      Market Size & Forecast

10.3.4.1.1.           By Value 

10.3.4.2.      Market Share & Forecast

10.3.4.2.1.           By Component

10.3.4.2.2.           By Power Source

10.3.4.2.3.           By Application

10.3.4.2.4.           By Speed

10.3.5.  Chile Draw Works Market Outlook

10.3.5.1.      Market Size & Forecast

10.3.5.1.1.           By Value 

10.3.5.2.      Market Share & Forecast

10.3.5.2.1.           By Component

10.3.5.2.2.           By Power Source

10.3.5.2.3.           By Application

10.3.5.2.4.           By Speed

11.  Middle East & Africa Draw Works Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value

11.2.              Market Share & Forecast

11.2.1.  By Component

11.2.2.  By Power Source

11.2.3.  By Application

11.2.4.  By Speed

11.2.5.  By Country

11.3.              Middle East: Country Analysis

11.3.1.  Saudi Arabia Draw Works Market Outlook

11.3.1.1.      Market Size & Forecast