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Workover Rigs Market

Workover Rigs Market

Workover Rigs Market Global Industry Assessment & Forecast

# Pages:

169

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0495

Segments Covered
  • By Type Barge Rigs, Tender Rigs, Jack ups Rigs, Platform Rigs, Semi-Submersible Rigs, Drill Ship
  • By Capacity Below 1, 000 Horsepower (HP), 1, 000-1, 500 Horsepower (HP), Above 1, 500 Horsepower (HP)
  • By Application Onshore, Offshore
Snapshot
Forecast YearsForecast Years: 2021 - 2028
Historical YearsHistorical Years: 2016 - 2020
Revenue 2021Revenue 2021: 254.51 Million
Revenue 2028Revenue 2028: 327.6 Million
Revenue CAGRRevenue CAGR (2021 - 2028): 3
Fastest Growing Region Fastest Growing Region (2022 - 2028) North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

The report delivers an acute breakdown of the market based on various segments such as Type, Capacity and region. This study comprises the market size in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities. 

On the basis of Type, the market is divided into Barge Rigs, Tender Rigs, Jack ups Rigs, Platform Rigs, Semi-Submersible Rigs, Drill Ship. Barge Rigs is expected to dominate the market and is projected to grow at a noteworthy CAGR within the forecast period.

Based on Capacity, the market is divided into Below 1,000 Horsepower (HP), 1,000-1,500 Horsepower (HP), Above 1,500 Horsepower (HP). Below 1,000 Horsepower (HP attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Global Workover Rigs Market: Type Segment Analysis

    • Barge Rigs
    • Tender Rigs
    • Jack ups Rigs
    • Platform Rigs
    • Semi-Submersible Rigs
    • Drill Ship

Global Workover Rigs Market: Capacity Segment Analysis

    • Below 1
    • 000 Horsepower (HP)
    • 1
    • 000-1
    • 500 Horsepower (HP)
    • Above 1
    • 500 Horsepower (HP)

Global Workover Rigs Market: Application Segment Analysis

    • Onshore
    • Offshore
FAQ
Frequently Asked Question
  • The global Workover Rigs valued at 254.51 Million in 2020 and is expected to reach 327.6 Million in 2028 growing at a CAGR of 3%.

  • The prominent players in the market are LCH Well Servicing, Schlumberger, Signal Hill Petroleum, Mesa Well Servicing,Ensign, Axis, Savanna Well Servicing, Guice Engineering, C&J Energy Services, NESR..

  • The market is project to grow at a CAGR of 3% between 2021 and 2028.

  • The driving factors of the Workover Rigs include

    • The increase in demand for oil and natural gas,and rise in the population as well as the rapid urbanization is anticipated to augment the growth of the market over the forecast period.
    • The increase in well E&P activities, like completion, and intervention is further anticipated to support the growth of the market during the forecast period.

  • North America was the leading regional segment of the Workover Rigs in 2020.