08 January 2020
The Workover Rigs Market Report 2020-2030: Forecasts by Type (Below 1,000 Horsepower, 1,000-1,500 Horsepower, Above 1,500 Horsepower), By Application (Onshore, Offshore), by Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), and analysis of leading companies operating in this industry.
During the forecast period, the growing demand for oil and natural gas will drive the growth of the global labor market. Due to the increasing use of natural gas as a fuel, the global use of natural gas has seen a significant increase. When demand for oil and natural gas grows, companies must try to increase production of oil and gas to meet demand.
There are two directions in which oil and gas companies will increase production. One approach is to explore new oil and gas wells, while another is to increase production from current oil and gas wells that are less successful.
In both cases, workcover platforms are used. Increasing demand for oil and natural gas will therefore fuel the need for work-over rigs during well-E&P operations such as exploration and construction and boost the development of the global work-over rigs industry during the forecast period. The workover rigs market is expected to post a CAGR of more than 5 percent by 2030.
Increasing investment in oil and gas, as well as government support for oil and gas E&P activities, will result in the need for intervention and completion services. Where platforms are required to work. These factors support the growth of the count of the global drilling rig. It shows the rise in the forecast period of the global labor market.
Over the years, crude oil prices have encountered significant variations that have a negative impact on upstream oil and gas companies ' profitability and performance. A large number of drilling rigs have been shut down and many workers have been laid off due to global price fluctuations.
E&P schemes are only performed if the revenue generated is extremely high to make money for upstream firms. Therefore, the volatility and instability in global crude oil prices could hamper expenditure in onshore and offshore E&P ventures, which in effect will have an impact on the global workover rigs industry over the forecast period.
Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to email@example.com or call her on +44 (0) 207 336 6100.
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.
This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics.
27 July 2021
China is the fastest-growing market, with officials promising gas as a cleaner energy source in an effort to quell public outrage over local air pollution levels generated by coal.
27 July 2021
The global anaerobic digestion (AD) market is being driven within the projected period, increased demand for renewable energy resources, rising energy costs, and stricter government regulations to minimise greenhouse gas emissions are the primary factors driving the anaerobic digestion market.
12 July 2021
Rooftop solar PV system deployment has expanded dramatically in recent years, owing in large part to policies like as net metering and tax incentives that, in some countries, make PV more cost-effective than buying energy from the grid- PV-hybrid minigrid, virtual power plants, and utility PPA.