Oilfield Rotary Table Market

The global Oilfield Rotary Table market was valued at USD 1536.12 Million in 2020 and is projected to reach USD 2448.31 Million by 2028, growing at a CAGR of 6% from 2021 to 2028.

A rotary table is a kind of mechanical device which is used in oil fields. It gives clockwise rotational force in drilling rig and provide the process of drilling a borehole.The market is majorly driven by large chains that resemble huge bicycle chains. They are with a rotary lock that is used to prevent the rotary from turning in a particular direction as well as stopping from the circular motion. They are utilized in both offshore and onshore oil wells specially to transfer the rotary motion to Kelly drive system.

The global Oilfield Rotary Table market report provides a thorough analysis of each segment, region, and country. All the segments are studied considering historical and future trends across geographies. All the segments are analyzed based on trends, market size, and forecasts, and the data is provided for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report. In addition to that, the report will cover a thorough analysis of major players operating in the market based on company overview, product portfolio, recent developments, business strategies, financial performance, and market share among others. Cumulatively, the report will cover all aspects regarding the global Oilfield Rotary Table market. 

In 2020, swift spread of COVID-19 largely impacted the global business operations, disrupting the supply chain and impairing various industries. The global trading activities were declined severely owing to the nationwide lockdowns, international border seals, and strict social distancing measures. This had a drastic impact on the global economy, as the companies across the globe were forced to either fully close or partially close their operations, leading to disruption in the supply-demand ratio. Moreover, in 2021 several key markets such as U.S., India, and Brazil among others witnessed a second wave of COVID-19 that further disrupted the market. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The report includes an exhaustive analysis of Oilfield Rotary Table industry that includes drivers, restraints/challenges, opportunities, and segmental/regional trends among others. Apart from that, it will also cover extensive information on various marketing tools such as PEST Analysis, Porter’s Five Forces Analysis, pricing trends,  SWOT analysis, and value chain among others.

The rapid globalization as well as industrial development all over the world resulted in a steep rise in demand for oil & gas in market. This has impacted positively and is resulted in increasing number of excavation and production activities of oil & gas players. This in turn has increased the demand for oilfield rotary tables and supporting the growth of the market. 

The increasing technologies for improving productivity is expected to support the growth of the market in the near future.

The high initial costs of raw materials is expected to hamper the growth of the market in the near future.

Type  Analysis: Preview

On the basis of Type, the market is segmented into 500 Tons – 1,000 Tons, 1,000 Tons – 1,500 Tons. 1,000 Tons – 1,500 Tons held the highest share in the global Oilfield Rotary Table market and is projected to witness the same trend during the forecast period.

Application Analysis: Preview

Based on Application, the market is segmented into Onshore, Off-shore. Onshore accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.

Analysis: Preview

Based on , the market is segmented into . dominates the global Oilfield Rotary Table market and is expected to continue the same trend from 2021 to 2028. 

Geographically, the global Oilfield Rotary Table market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The report covers a thorough segmental analysis for each region comprising of market size and estimations for each segment by region for the years 2016–2028. In addition to that the report analyses Oilfield Rotary Table market at country-level hence the regional study is further bifurcated into key country-level markets from each region. North America is anticipated to dominate the global market during upcoming years. This is accredited to the presence of key market players combined with rising demand from the end-users.  Some of the prominent country-level markets are U.S., China, Germany, France, India, and Japan.   

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

Major players in the global Oilfield Rotary Table market are National Oilwell Varco Inc, Schlumberger Ltd, CMIC Ocean En-Tech Holding Co Ltd, MHWirth AS, RM Holding BV, Chengdu Zhonghang Machinery Co Ltd.. The global Oilfield Rotary Table market report covers an exhaustive analysis of all the key players in the industry. This includes a business overview, extensive portfolio, business strategies, news, financial performance, length of distribution network,  and geographical presence among others. In addition to that, the report also covers company market share along with in-depth strategic developments.   

• The global Oilfield Rotary Table market was valued at USD 1536.12 Million in 2020
• The global Oilfield Rotary Table Market is projected to reach USD 2448.31 Million by 2028
• North America held the highest share of the Oilfield Rotary Table market in 2020
• Some of the major companies operating in the Oilfield Rotary Table market are National Oilwell Varco Inc, Schlumberger Ltd, CMIC Ocean En-Tech Holding Co Ltd, MHWirth AS, RM Holding BV, Chengdu Zhonghang Machinery Co Ltd.