07 November 2019
Kelly Drives Market Report 2020-2030: Forecasts by Application (Onshore, Offshore), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and analysis of leading companies operating in this industry. A Kelly drive is a well drilling system mounted on an oil and gas drilling rig, which is used in the drilling rig to shift the rotating motion to the drilling string. The Kelly drives market analysis takes the use of Kelly drives in onshore wells and offshore wells into consideration.
The rising global demand for energy and technological advances in the oil and gas industry have resulted in increased untapped reserves exploration activities. Oil and gas companies are gradually using unconventional exploration techniques to exploit US and Canada's massive shale reserves. It is expected that that investments in E&P activities would drive the adoption of Kelly drives for E&P activities. This will be a major factor responsible for the Kelly growth that drives the demand during the forecast period at a CAGR of nearly 6 percent.
Rig operators are increasingly focusing on automating drilling rigs to reduce serious accidents and human error-induced explosions. Automated drilling rigs may compare and evaluate a large quantity of sensor collected data to make the right decisions. Drilling rig automation is expected to reduce the risk of human error incidents and increase the efficiency of oil and gas drilling operations. The advent of automated drilling rigs will be key to the market trend of Kelly driving accelerating market growth.
Oil and gas companies are increasingly concentrating on drilling rigs and related equipment automation. It is possible to compare and evaluate a large amount of data obtained by the sensors in automated drilling rigs to make the right decisions. Automated rigs of the next generation use technology to combine drilling processes with surface equipment such as drill bits, BHA, and other downhole devices. In addition, drilling rig automation will reduce the risk of human error accidents and increase the efficiency of oil and gas drilling operations. This advantages of automated drilling rigs should allow oil and gas companies to substitute Kelly drives for top drive systems.
Technological advances in the oil and gas industry have led to increased untapped resource exploration activities. Oil and gas companies are embracing unconventional exploration techniques to exploit US and Canada's massive shale reserves. Governments of different countries pursue many measures to ensure energy security and increase the production of oil and gas. It is expected that increasing investments in oil and gas drilling would improve the adoption of Kelly drives for E&P activities. Because Kelly drives are less costly than top drive systems, it will be encouraged by oil and gas companies to adopt it for E&P operations to achieve a higher return on investment.
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