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Global hydraulic workover units market size to register 6.3% CAGR through 2027

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Selbyville, Delaware, June 30, 2021 (GLOBE NEWSWIRE) — As per industry experts, global hydraulic workover units market size was worth USD 8.1 billion in 2020 and is projected to record a CAGR of 6.3% over 2021-2027, subsequently accumulating USD 12.4 billion by the end of the forecast period.

Proceeding further, the research literature thoroughly assesses each sub-market, determining their role in overall market expansion. It also covers the regional analysis and lays strong emphasis on the top contributors to the overall industry remuneration. Moreover, it presents a detailed account of the competitive arena, uncovering the positioning of the key players with respect to their business profiles, product/services offered, and latest developments such as mergers, acquisitions, and expansion plans or investments.

Increasing consumption of primary energy and growing shale oil & gas production activities are catalyzing the market growth. Besides, ongoing oil & gas exploration and drilling activities are also enhancing the overall market outlook.

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For the record, in 2019, production of shale gas held over half of total natural gas output in the United States. Whereas, China is among the first economies outside of North America to investigate shale resources, drilling over 600 shale gas wells and is predicted to produce about 40% of overall natural gas production by 2040, positioning itself as the second-largest shale gas producer across the globe after the U.S. Similar developments in global hydraulic workover units marketplace are opening expansion opportunities for businesses operating in this domain.

For the unversed, hydraulic workover units are cost-effective, movable pulling devices that offer various benefits for onshore and offshore projects. The hydraulic workover unit is a versatile and safe tool for repairing, drilling, and finishing wells along the shore. It is used as an alternative for workover rigs and traditional drilling. A hydraulic workover device is highly useful during well intervention on gas wells as it streamlines the process that would otherwise be unfeasible using a coiled tubing unit or wire line.

Speaking of the market restraints, growing focus on renewable energy will hamper the remuneration scope for businesses over the forecast timeframe.

Geographical terrain summary

North America, Asia Pacific, Latin America, and Europe are the key contributors to the overall hydraulic workover units market development. Of these, North America presently holds considerable portion of the market share, attributable to rising production of shale gas in the region.

On the other hand, Asia Pacific industry is slated to grow substantially through 2027, creditable to increasing consumption of energy in growing economies like India and China.

To access a sample copy or view this report in detail along with the table of contents, please click the link below:

https://www.marketstudyreport.com/reports/global-hydraulic-workover-unit-market-by-service-workover-snubbing-installation-skid-mounted-trailer-mounted-capacity-0-50-tones-51-15

Global Hydraulic Workover Units Market, by Installation Type (Value, USD Billion, 2018-2027)

  • Trailer Mounted
  • Skid Mounted

Global Hydraulic Workover Units Market, by Service Type (Value, USD Billion, 2018-2027)

  • Snubbing
  • Workover

Global Hydraulic Workover Units Market, by Capacity (Value, USD Billion, 2018-2027)

  • Above 150 tons
  • 51-150 tons
  • 0-50 tons

Global Hydraulic Workover Units Market, by Application Spectrum (Value, USD Billion, 2018-2027)

  • Offshore
  • Onshore

Global Hydraulic Workover Units Market Geographical Ambit (Value, USD Billion, 2018-2027)

North America

  • U.S.
  • Canada

Latin America

  • Mexico
  • Brazil

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

Europe

  • U.K.
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe

Rest of the World

Global Hydraulic Workover Units Market Top Players (Value, USD Billion, 2018-2027)

  • The WellGear Group 
  • ZYT Petroleum Equipment Co. Ltd.
  • Tecon Oil Services Ltd.
  • Cased Hole Well Services LLC
  • Easternwell Group
  • Velesto Energy Berhad (VEB)
  • Precision Drilling Corporation
  • Cudd Energy Services
  • Basic Energy Services Inc.
  • Superior Energy Services Inc.

Table of Content:

Chapter 1. Executive Summary

1.1. Market Snapshot

1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)

1.2.1.  Hydraulic workover Unit Market , by Region, 2019-2027 (USD Billion)

1.2.2.  Hydraulic workover Unit Market, by Installation,  2019-2027 (USD Billion)

1.2.3. Hydraulic workover Unit Market, by Service, 2019-2027 (USD Billion)

1.2.4. Hydraulic workover Unit Market, by Capacity, 2019-2027 (USD Billion)

1.2.5. Hydraulic workover Unit Market , by  Application, 2019-2027 (USD Billion)

1.3. Key Trends

1.4. Estimation Methodology

1.5. Research Assumption

Chapter 2. Global  Hydraulic workover Unit Market  Definition and Scope

2.1. Objective of the Study

2.2. Market Definition & Scope

2.2.1. Scope of the Study

2.2.2. Industry Evolution

2.3. Years Considered for the Study

2.4. Currency Conversion Rates

Chapter 3. Global  Hydraulic workover Unit Market  Dynamics

3.1.  Hydraulic workover Unit Market Impact Analysis (2019-2027)

3.1.1. Market Drivers

3.1.1.1. Rising primary energy consumption from APAC

3.1.1.2. Growing shale oil & gas production activities

3.1.2. Market Restraint

3.1.2.1. Increasing focus on renewable energy

3.1.3. Market Opportunities

3.1.3.1. Onset of exploration and drilling activities in Arctic region

Chapter 4. Global  Hydraulic workover Unit Market  Industry Analysis

4.1. Porter’s 5 Force Model

4.1.1. Bargaining Power of Suppliers

4.1.2. Bargaining Power of Buyers

4.1.3. Threat of New Entrants

4.1.4. Threat of Substitutes

4.1.5. Competitive Rivalry

4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)

4.2. PEST Analysis

4.2.1. Political

4.2.2. Economical

4.2.3. Social

4.2.4. Technological

4.3. Investment Adoption Model

4.4. Analyst Recommendation & Conclusion

Chapter 5. Global  Hydraulic workover Unit Market , by Installation

5.1. Market Snapshot

5.2. Global  Hydraulic workover Unit Market  by  Installation, Performance – Potential Analysis

5.3. Global  Hydraulic workover Unit Market  Estimates & Forecasts by Installation  2018-2027 (USD Billion)

5.4.  Hydraulic workover Unit Market , Sub Segment Analysis

5.4.1. Skid Mounted

5.4.2. Trailer Mounted

Chapter 6. Global  Hydraulic workover Unit Market , by Service

6.1. Market Snapshot

6.2. Global  Hydraulic workover Unit Market  by  service, Performance – Potential Analysis

6.3. Global  Hydraulic workover Unit Market  Estimates & Forecasts by Service  2018-2027 (USD Billion)

6.4.  Hydraulic workover Unit Market , Sub Segment Analysis

6.4.1. Workover

6.4.2. Snubbing

Chapter 7. Global Hydraulic workover Unit Market, by Capacity

7.1. Market Snapshot

7.2. Global Hydraulic workover Unit Market by  Capacity, Performance – Potential Analysis

7.3. Global Hydraulic workover Unit Market Estimates & Forecasts by Capacity 2018-2027 (USD Billion)

7.4.  Hydraulic workover Unit Market, Sub Segment Analysis

7.4.1. 0-50 tonnes

7.4.2. 51-150 tonnes

7.4.3. Above 150 tonnes

Chapter 8. Global Hydraulic workover Unit Market, by   Application

8.1. Market Snapshot

8.2. Global Hydraulic workover Unit Market  by  Application, Performance – Potential Analysis

8.3. Global  Hydraulic workover Unit Market  Estimates & Forecasts by  Application 2018-2027 (USD Billion)

8.4.  Hydraulic workover Unit Market , Sub Segment Analysis

8.4.1. Onshore

8.4.2. Offshore

Chapter 9. Global Hydraulic workover Unit Market , Regional Analysis

Related Report:

Artificial Lift Systems Market Size, Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2021 – 2027

The artificial lift system market is projected to record momentous gains over the forthcoming timeframe owing to increasing investments toward redevelopment of aging fields and paradigm shift toward unconventional reserves. Artificial lift defines a variety of methods that oil & gas producers use. It is referred as a process used on oil wells to surge the pressure in the reservoir and encourage oil to the surface. When the reservoir’s natural drive energy is not capable of pushing the oil to the surface that’s when artificial lift is used to recover more production. In fact, around 96% of the oil wells across the U.S. need artificial lift from the start.

In addition, even those wells that at first possess natural flow to the surface, that pressure lessens over time, and artificial lift is then needed. Thus, artificial lift is usually performed on all oil wells at some point of time during their production life.

The market for artificial lift system is growing at a rapid pace as it continues to hold its appeal for customers, particularly in the form of value-add services as well as software that can add material ROI, increased production, estimated ultimate recovery, and enhanced oil recovery.

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If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, LLC. is the platform that can help you in achieving any of these objectives.



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Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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