Top Drive Systems Market by Type (Electric & Hydraulic), Application (Onshore & Offshore), Vessel Type (Jackup, Drillship, Semi-Submersible), & by Region (North & South Americas, Europe, APAC, Middle East & Africa) - Global Trends & Forecasts to 2020

 Published On: May, 2015 |    No of Pages: 172 |  Published By: MarketsandMarkets | Format: PDF
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Top drive is a motor that is suspended from the derrick, or mast, of the rig, which provides rotational force to facilitate the process of drilling a wellbore. It drives and rotates the drill string and bit, hence make drilling process easy. Top drives play a significant role in reducing hazards and the overall cost of drilling activities. It will continue to be the predominant method of drilling wells in the future .The top drive is an alternative to Kelly/rotary table. The demand for effective and efficient drilling has increased the importance of this system for various applications such as onshore and offshore.

The top drive market has been estimated in terms of value ($Million). This report provides an analysis about the drivers, restraints, and opportunities of the global top drive market. Growth in drilling and exploration activities and increasing need for energy from emerging economies are expected to be the major drivers in increasing the usage of top drives globally. However, with the current oil price scenario, the growth would be limited this year; however, it is expected to regain its growth in the coming years once the crude price is stabilized. Furthermore, growing offshore oil & gas reserves provide huge growth opportunities to the top drive market. This report also covers the activities of major key players in this segment, and strategies adopted by them through expansions, mergers & acquisitions, and new product launches.

The global top drive market has been classified into two major segments: electric & hydraulic. The electric top drive system accounted for the major market share of 88%, followed by hydraulic top drives, which held a share of 12% in 2014.

The above figure shows the global top drive market in terms of value ($million) for various geographies from 2015 to 2020. In comparison of other regions, North America dominates the global top drive market, and is expected to continue its dominance in the near future. Major players of the top drive market include National Oilwell Varco (U.S.), Tesco Corporation (U.S.), Canrig Drilling Technology Limited (U.S.), Cameron International Corporation (U.S.), Aker Solutions AS (Norway), Axon Energy Products (U.S.), Bentec GMBH Drilling & Oilfield Systems (Germany), Foremost (Canada), Daqing Jinghong Petroleum Equipment Corporation (China), Honghua Group Limited (China), and Warrior Manufacturing Service Limited (Canada). The top drive market has been classified as follows:

By Type
• Hydraulic
• Electric

By Region
• North America
• South America
• Asia-Pacific
• Europe
• Middle East
• Africa

By Application
• Onshore
• Offshore
Jackup
Drillship
Semisubmersible

The dominant top companies of the top drive market from each region have been covered. These market players are present mostly in North America, Europe, and Asia Pacific, and are continuously participating in competitive developments. 

1 INTRODUCTION 15
1.1 OBJECTIVES OF THE STUDY 15
1.2 MARKET DEFINITION 15
1.3 STUDY SCOPE 16
1.3.1 MARKETS COVERED 16
1.3.2 YEARS CONSIDERED FOR THE STUDY 16
1.4 CURRENCY 17
1.5 LIMITATIONS 17
1.6 STAKEHOLDERS 17
2 RESEARCH METHODOLOGY 18
2.1.1 SECONDARY DATA 19
2.1.1.1 Key data from secondary sources 19
2.1.2 PRIMARY DATA 20
2.1.2.1 Key data from primary sources 20
2.1.2.2 Key industry insights 21
2.1.2.3 Breakdown of primary interviews 21
2.2 MARKET SIZE ESTIMATION 22
2.2.1 TOP DOWN APPROACH 23
2.2.2 BOTTOM-UP APPROACH 24
2.3 MARKET BREAKDOWN & DATA TRIANGULATION 25
2.4 RESEARCH ASSUMPTIONS 26
3 EXECUTIVE SUMMARY 27
4 PREMIUM INSIGHTS 32
4.1 ATTRACTIVE MARKET OPPORTUNITIES IN TOP DRIVE MARKET 32
4.2 NORTH AMERICA: THE FASTEST GROWING MARKET IN THE COMING YEARS FOR
TOP DRIVES 33
4.3 LIFE CYCLE ANALYSIS, BY REGION 36
4.4 TOP DRIVE MARKE : TOP FOUR COUNTRY 37
5 MARKET OVERVIEW 38
5.1 INTRODUCTION 39
5.2 MARKET SEGMENTATION 39
5.2.1 BY TYPE 39
5.2.1.1 Hydraulic top drive 39
5.2.1.2 Electric top drive 40

5.3 MARKET DYNAMICS 40
5.3.1 DRIVERS 41
5.3.1.1 Increasing deepwater drilling activities 41
5.3.1.2 Technical and commercial benefits of top drive systems 41
5.3.1.3 Development of unconventional reserves 41
5.3.1.4 Increase in demand for drilling rigs 41
5.3.2 RESTRAINTS 42
5.3.2.1 Development of unconventional reserves require multimillion-dollar investments 42
5.3.3 OPPORTUNITIES 42
5.3.3.1 Operational land rig demand to rise by 40% by 2020 42
5.3.3.2 North America becomes the leader in drilling activities 42
5.3.3.3 Increase in international spending 43
5.3.4 CHALLENGES 43
5.3.4.1 Environmental concerns & oil spills 43
5.3.4.2 Political issues & technological incompetence 43
5.4 IMPACT OF MARKET DYNAMICS 44
6 INDUSTRY TRENDS 45
6.1 INTRODUCTION 45
6.2 VALUE CHAIN ANALYSIS 45
6.3 PORTER’S FIVE FORCES ANALYSIS 46
6.3.1 THREAT OF SUBSTITUTES 47
6.3.2 THREAT OF NEW ENTRANTS 48
6.3.3 BARGAINING POWER OF BUYERS 48
6.3.4 BARGAINING POWER OF SUPPLIERS 49
6.3.5 DEGREE OF COMPETITION 49
7 OFFHSORE DRILLING RIG MARKET 50
7.1 INTRODUCTION 51
7.1.1 SEMISUBMERSIBLES 51
7.1.2 DRILLSHIPS 51
7.1.3 JACKUP RIGS 52
7.1.4 TENDER RIGS 52
7.1.5 PLATFORM RIGS 52
7.2 OFFSHORE RIG SUPPLY OVERVIEW 52
7.2.1 THE U.S. GULF OF MEXICO (U.S. GOM) 53
7.2.2 WEST AFRICA/MEDITERRANEAN 53
7.2.3 NORTH SEA 54
7.2.4 MIDDLE EAST 54
7.2.1 SOUTH EAST ASIA/INDIA 55
7.2.2 SOUTH AMERICA 55
7.2.3 MEXICO 56
7.2.4 OTHERS 56
7.3 OFFSHORE RIGS NEWBUILDS 57
7.3.1 JACKUP NEWBUILDS DELIVERIES 57
7.3.1.1 Jackups new build deliveries, 2014 57
7.3.1.2 Jackup newbuild deliveries, 2015 58
7.3.1.3 Jackup newbuild deliveries, 2016+ 60
7.3.2 DRILLSHIPS NEWBUILDS DELIVERIES 61
7.3.2.1 Drillships newbuild deliveries, 2014 62
7.3.2.2 Drillships newbuild deliveries, 2015 63
7.3.2.3 Drillships newbuild deliveries, 2016 63
7.3.2.4 Drillships newbuild deliveries, 2017+ 64
7.3.3 SEMISUBMERSIBLES NEW BUILDS DELIVERIES 65
7.3.3.1 Semisubmersibles new build deliveries, 2014 65
7.3.3.2 Semisubmersibles newbuild deliveries, 2015 65
7.3.3.3 Semisubmersibles newbuild deliveries, 2016 66
7.3.3.4 Semisubmersibles newbuild deliveries, 2017+ 66
8 TOP DRIVE MARKET, BY APPLICATION 67
8.1 INTRODUCTION 68
8.2 ONSHORE APPLICATION 69
8.3 OFFSHORE APPLICATION 70
8.3.1 OFFSHORE TOP DRIVE MARKET, BY VESSEL TYPE 71
8.3.2 JACKUP RIGS 72
8.3.3 SEMISUBMERSIBLE RIGS 73
8.3.4 DRILLSHIPS 73
9 TOP DRIVE MARKET, BY TYPE 75
9.1 INTRODUCTION 76
9.2 ELECTRIC TOP DRIVES 78
9.3 HYDRAULIC TOP DRIVES 79
10 TOP DRIVE MARKET, BY REGION 81
10.1 INTRODUCTION 82
10.2 NORTH AMERICA 84
10.2.1 BY COUNTRY 85
10.2.1.1 U.S. 85
10.2.1.2 Canada 86
10.2.1.3 Mexico 86
10.2.2 BY TYPES 87
10.2.3 BY APPLICATION 87
10.2.3.1 By vessel type 88

10.3 EUROPE 89
10.3.1 BY COUNTRY 90
10.3.1.1 Russia 90
10.3.1.2 Norway 91
10.3.1.3 U.K. 91
10.3.1.4 Others 92
10.3.2 BY TYPE 92
10.3.3 BY APPLICATION 93
10.3.3.1 By vessel type 93
10.4 ASIA-PACIFIC 94
10.4.1 BY COUNTRY 95
10.4.1.1 China 95
10.4.1.2 Australia 95
10.4.1.3 India 96
10.4.1.4 Others 96
10.4.2 BY TYPE 97
10.4.3 BY APPLICATION 97
10.4.3.1 By vessel type 98
10.5 SOUTH AMERICA 98
10.5.1 BY COUNTRY 99
10.5.1.1 Argentina 99
10.5.1.2 Venezuela 99
10.5.1.3 Brazil 100
10.5.1.4 Colombia 100
10.5.1.5 Others 101
10.5.2 BY TYPE 101
10.5.3 BY APPLICATION 102
10.5.3.1 By vessel type 102
10.6 MIDDLE EAST 103
10.6.1 BY COUNTRY 104
10.6.1.1 Saudi Arabia 104
10.6.1.2 Iraq 104
10.6.1.3 Oman 105
10.6.1.4 Kuwait 105
10.6.1.5 UAE 106
10.6.1.6 Others 106
10.6.2 BY TYPE 107
10.6.3 BY APPLICATION 107
10.6.3.1 By vessel type 108

10.7 AFRICA 108
10.7.1 BY COUNTRY 109
10.7.1.1 Nigeria 109
10.7.1.2 Algeria 109
10.7.1.3 Egypt 110
10.7.1.4 Others 110
10.7.2 BY TYPE 111
10.7.3 BY APPLICATION 111
10.7.3.1 By vessel type 112
11 COMPETITIVE LANDSCAPE 113
11.1 OVERVIEW 114
11.2 MARKET SHARE ANALYSIS 115
11.3 COMPETITIVE SITUATIONS & TRENDS 116
11.3.1 CONTRACTS & AGREEMENTS 117
11.3.2 NEW PRODUCT DEVELOPMENTS 121
11.3.3 MERGERS & ACQUISITIONS 123
11.3.4 EXPANSIONS 124
11.3.5 OTHER DEVELOPMENTS 125
12 COMPANY PROFILES 126
(Company at a Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
12.1 INTRODUCTION 126
12.2 AKER SOLUTIONS 127
12.3 CAMERON INTERNATIONAL CORPORATION 132
12.4 HONGHUA GROUP LIMITED 137
12.5 NATIONAL OILWELL VARCO, INC. 142
12.6 TESCO CORPORATION 146
12.7 AXON ENERGY PRODUCTS 150
12.8 BENTEC GMBH DRILLING & OILFIELD SYSTEMS 152
12.9 CANRIG DRILLING TECHNOLOGY LIMITED 154
12.10 DAQING JINGHONG PETROLEUM EQUIPMENT CORPORATION 156
12.11 FOREMOST 160
12.12 PANJIN LIAOHE OILFIELD TIANYI PETROLEUM EQUIPMENT COMPANY LIMITED 162
12.13 WARRIOR MANUFACTURING SERVICES LIMITED 164
*Details on company at a glance, recent financials, products & services, strategies & insights, & recent developments might not be captured in case of unlisted companies.

13 APPENDIX 166
13.1 INSIGHTS OF INDUSTRY EXPERTS 166
13.2 DISCUSSION GUIDE 167
13.3 AVAILABLE CUSTOMIZATIONS 169
13.4 INTRODUCING RT: REAL TIME MARKET INTELLIGENCE 169
13.5 RELATED REPORTS 170

LIST OF TABLES

TABLE 1 IMPACT OF MARKET DYNAMICS 44
TABLE 2 U.S. GULF OF MEXICO: MOBILE OFFSHORE DRILLING RIG COUNT, 2012–2014 53
TABLE 3 WEST AFRICA/MEDITERRANEAN: MOBILE OFFSHORE DRILLING RIG COUNT, 2012–2014 53
TABLE 4 NORTH SEA: MOBILE OFFSHORE DRILLING RIG COUNT, 2012-2014 54
TABLE 5 MIDDLE EAST: MOBILE OFFSHORE DRILLING RIG COUNT, 2012–2014 54
TABLE 6 SOUTH EAST ASIA/INDIA: MOBILE OFFSHORE DRILLING RIG COUNT, 2012–2014 55
TABLE 7 SOUTH AMERICA: MOBILE OFFSHORE DRILLING RIG COUNT, 2012–2014 55
TABLE 8 MEXICO: MOBILE OFFSHORE DRILLING RIG COUNT, 2012–2014 56
TABLE 9 OTHERS: MOBILE OFFSHORE DRILLING RIG COUNT, 2012–2014 56
TABLE 10 GLOBAL JACKUP NEWBUILD DELIVERIES, 2014–2016+ 57
TABLE 11 GLOBAL JACKUP NEWBUILD DELIVERIES, 2014 57
TABLE 12 GLOBAL JACKUP NEWBUILD DELIVERIES, 2015 58
TABLE 13 GLOBAL JACKUP NEWBUILD DELIVERIES, 2016+ 60
TABLE 14 GLOBAL DRILLSHIP NEWBUILD DELIVERIES, 2014–2017+ 61
TABLE 15 GLOBAL DRILLSHIP NEWBUILD DELIVERIES, 2014 62
TABLE 16 GLOBAL DRILLSHIP NEWBUILD DELIVERIES, 2015 63
TABLE 17 GLOBAL DRILLSHIP NEWBUILD DELIVERIES, 2016 63
TABLE 18 GLOBAL DRILLSHIP NEWBUILD DELIVERIES, 2017+ 64
TABLE 19 GLOBAL SEMISUBMERSIBLES NEWBUILD DELIVERIES, 2014–2017+ 65
TABLE 20 GLOBAL SEMISUBMERSIBLES NEWBUILD DELIVERIES, 2014 65
TABLE 21 GLOBAL SEMISUBMERSIBLES NEWBUILD DELIVERIES, 2015 65
TABLE 22 GLOBAL SEMISUBMERSIBLES NEWBUILD DELIVERIES, 2016 66
TABLE 23 GLOBAL SEMISUBMERSIBLES NEWBUILD DELIVERIES, 2017 66
TABLE 24 TOP DRIVE MARKET SIZE, BY APPLICATION, 2013-2020($MILLION) 69
TABLE 25 ONSHORE TOP DRIVE MARKET SIZE, BY REGION, 2013-2020 69
TABLE 26 OFFSHORE APPLICATION TOP DRIVE MARKET SIZE, BY REGION, 2013-2020 ($MILLION) 70
TABLE 27 OFFSHORE TOP DRIVE MARKET SIZE, BY VESSEL TYPE, 2013-2020 ($MILLION) 72
TABLE 28 JACKUP RIG TOP DRIVE MARKET SIZE, BY REGION, 2013-2020($MILLION) 72
TABLE 29 SEMISUBMERSIBLES TOP DRIVE MARKET SIZE, BY REGION, 2013-2020 ($MILLION) 73
TABLE 30 DRILLSHIP TOP DRIVE MARKET SIZE, BY REGION, 2013-2020 ($MILLION) 74
TABLE 31 TOP DRIVE MARKET SIZE, BY TYPE, 2013-2020 ($MILLION) 77
TABLE 32 ELECTRIC TOP DRIVE MARKET SIZE, BY REGION, 2013-2020 ($MILLION) 79
TABLE 33 HYDRAULIC TOP DRIVE MARKET SIZE, BY REGION, 2013-2020($MILLION) 80
TABLE 34 TOP DRIVE MARKET SIZE, BY REGION, 2013–2020($MILLION) 83
TABLE 35 NORTH AMERICA: TOP DRIVE MARKET SIZE, BY COUNTRY, 2013–2020($MILLION) 85
TABLE 36 U.S.: TOP DRIVE MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION) 85
TABLE 37 CANADA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 86
TABLE 38 MEXICO: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020($MILLION) 86
TABLE 39 NORTH AMERICA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020($MILLION) 87
TABLE 40 NORTH AMERICA: TOP DRIVE MARKET SIZE, BY APPLICATION, 2013–2020 ($MILLION) 87
TABLE 41 NORTH AMERICA: OFFSHORE TOP DRIVE MARKET SIZE, BY VESSEL TYPE, 2013–2020 ($MILLION) 88
TABLE 42 EUROPE: TOP DRIVE MARKET SIZE, BY COUNTRY, 2013–2020 (MILLION) 90
TABLE 43 RUSSIA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 90
TABLE 44 NORWAY: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 91
TABLE 45 U.K.: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 (MILLION) 91
TABLE 46 OTHERS: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 92
TABLE 47 EUROPE: TOP DRIVE MARKET, BY TYPE, 2013–2020 ($MILLION) 92
TABLE 48 EUROPE: TOP DRIVE MARKET SIZE, BY APPLICATION, 2013–2020 ($MILLION) 93
TABLE 49 EUROPE: OFFSHORE TOP DRIVE MARKET SIZE, BY VESSEL TYPE, 2013–2020 ($MILLION) 93
TABLE 50 ASIA-PACIFIC: TOP DRIVE MARKET SIZE, BY COUNTRY, 2013–2020($MILLION) 94
TABLE 51 CHINA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 95
TABLE 52 AUSTRALIA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 95
TABLE 53 INDIA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 96
TABLE 54 OTHERS: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 96
TABLE 55 ASIA-PACIFIC: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 97
TABLE 56 ASIA-PACIFIC: TOP DRIVE MARKET SIZE, BY APPLICATION, 2013–2020 ($MILLION) 97
TABLE 57 ASIA-PACIFIC: TOP DRIVE MARKET SIZE, BY VESSEL TYPE, 2013–2020 ($MILLION) 98
TABLE 58 SOUTH AMERICA: TOP DRIVE MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION) 98
TABLE 59 ARGENTINA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 99
TABLE 60 VENEZUELA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 99
TABLE 61 BRAZIL: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 100
TABLE 62 COLOMBIA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 100
TABLE 63 OTHERS: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 101
TABLE 64 SOUTH AMERICA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 101
TABLE 65 SOUTH AMERICA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 102
TABLE 66 SOUTH AMERICA: OFFSHORE TOP DRIVE MARKET SIZE, BY VESSEL TYPE, 2013–2020 ($MILLION) 102
TABLE 67 MIDDLE EAST: TOP DRIVE MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION) 103
TABLE 68 SAUDI ARABIA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 104
TABLE 69 IRAQ: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 104
TABLE 70 OMAN: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 105
TABLE 71 KUWAIT: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 105
TABLE 72 UAE: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 106
TABLE 73 OTHERS: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 106
TABLE 74 MIDDLE EAST: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 107
TABLE 75 MIDDLE EAST: TOP DRIVE MARKET SIZE, BY APPLICATION, 2013–2020 ($MILLION) 107
TABLE 76 MIDDLE EAST: OFFSHORE TOP DRIVE MARKET SIZE, BY VESSEL TYPE, 2013–2020 ($MILLION) 108
TABLE 77 AFRICA: TOP DRIVE MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION) 108
TABLE 78 NIGERIA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 109
TABLE 79 ALGERIA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 109
TABLE 80 EGYPT: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 110
TABLE 81 OTHERS: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 110
TABLE 82 AFRICA: TOP DRIVE MARKET SIZE, BY TYPE, 2013–2020 ($MILLION) 111
TABLE 83 AFRICA: TOP DRIVE MARKET SIZE, BY APPLICATION, 2013–2020 ($MILLION) 111
TABLE 84 AFRICA: OFFSHORE TOP DRIVE MARKET SIZE, BY VESSEL TYPE, 2013–2020 ($MILLION) 112
TABLE 85 CONTRACTS & AGREEMENTS, 2012-2015 117
TABLE 86 NEW PRODUCT DEVELOPMENTS, 2012-2015 121
TABLE 87 MERGERS & ACQUISITIONS, 2012-2015 123
TABLE 88 EXPANSIONS, 2012-2015 124
TABLE 89 OTHER DEVELOPMENTS, 2012-2015 125

LIST OF FIGURES

FIGURE 1 MARKETS COVERED: TOP DRIVE MARKET 16
FIGURE 2 TOP DRIVE MARKET: RESEARCH DESIGN 18
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY, DESIGNATION, & REGION 22
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 23
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 24
FIGURE 6 MARKET ESTIMATION APPROACH & DATA TRIANGULATION METHODOLOGY 25
FIGURE 7 TOP DRIVE MARKET: REGIONAL SNAPSHOT (2015 VS 2020) 27
FIGURE 8 NORTH AMERICA IS EXPECTED TO DOMINATE THE TOP DRIVE MARKET IN 2014 28
FIGURE 9 TOP DRIVE MARKET SIZE, OFFSHORE BY VESSEL TYPE, 2015 & 2020 ($MILLION) 29
FIGURE 10 TOP DRIVE MARKET SIZE, BY APPLICATION, 2015 & 2020 ($MILLION) 30
FIGURE 11 TOP DRIVE MARKET SIZE, BY TYPE, 2015 & 2020 ($MILLION) 31
FIGURE 12 DEVELOPMENT OF UNCOVENTIONAL RESERVES AND INCREASE IN EXPLORATION ACTIVITIES TO DRIVE THE MARKET FOR TOP DRIVE DURING 2015-2020 32
FIGURE 13 NORTH AMERICA IS PROJECTED TO BE THE FASTEST GROWING REGION TO DEMAND TOP DRIVE SYSTEMS FROM 2015 TO 2020 33
FIGURE 14 CHINA IS EXPECTED TO DOMINATE THE TOP DRIVE MARKET IN ASIA–PACIFIC IN 2015 34
FIGURE 15 ONSHORE APPLICATION IS EXPECTED TO LEAD THE MARKET DURING THE FORECAST PERIOD 35
FIGURE 16 ASIA-PACIFIC SHOWING THE LARGE POTENTIAL IN TOP DRIVE MARKET 36
FIGURE 17 U.S IS EXPECTED TO HOLD THE LARGEST MARKET SIZE TILL 2020 37
FIGURE 18 VALUE CHAIN ANALYSIS: TOP DRIVE MARKET 45
FIGURE 19 PORTER’S FIVE FORCES ANALYSIS: TOP DRIVE MARKET 47
FIGURE 20 TOP DRIVE MARKET SHARE (VALUE), BY APPLICATION, 2014 ($MILLION) 68
FIGURE 21 OFFSHORE APPLICATION IS EXPECTED TO WITNESS SUBSTANTIAL GROWTH IN THE COMINGS YEARS 68
FIGURE 22 OFFSHORE TOP DRIVE MARKET SHARE (VALUE), BY VESSEL TYPE, 2014 71
FIGURE 23 TOP DRIVE MARKET SHARE (VALUE), BY TYPE, 2014 76
FIGURE 24 ELECTRIC TOP DRIVES SET TO OUTPACE HYDRAULIC TOP DRIVES IN TERMS OF GROWTH 77
FIGURE 25 ELECTRIC TOP DRIVE MARKET SHARE (VALUE), BY REGION, 2014 78
FIGURE 26 HYDRAULIC TOP DRIVE MARKET SHARE (VALUE), BY REGION, 2014 79
FIGURE 27 TOP DRIVE MARKET SHARE (VALUE), BY REGION, 2014 82
FIGURE 28 COMPANIES ADOPTED CONTRACTS & AGREEMENTS AND NEW PRODUCT DEVELOPMENTS TO CAPTURE THE MARKET 114
FIGURE 29 TOP DRIVE MARKET SHARE (VALUE), BY KEY PLAYERS, 2014 115
FIGURE 30 BATTLE FOR MARKET SHARE: CONTRACTS & AGREEMENTS IS THE KEY STRATEGY 116
FIGURE 31 MARKET EVALUATION FRAMEWORK: NEW PRODUCT LAUNCHES, CONTRACTS & AGREEMENTS, AND MERGER & ACQUISITIONS HAVE FUELLED THE GROWTH
OF COMPANIES FROM 2011 TO 2015 117
FIGURE 32 REGIONAL REVENUE MIX OF THE TOP 5 MARKET PLAYERS 126
FIGURE 33 AKER SOLUTIONS: COMPANY SNAPSHOT 127
FIGURE 34 SWOT ANALYSIS: AKER SOLUTIONS 129
FIGURE 35 CAMERON INTERNATIONAL CORPORATION: COMPANY SNAPSHOT 132
FIGURE 36 SWOT ANALYSIS: CAMERON INTERNATIONAL CORPORATION 134
FIGURE 37 HONGHUA GROUP: COMPANY SNAPSHOT 137
FIGURE 38 SWOT ANALYSIS: HONGHUA GROUP 139
FIGURE 39 NOV: COMPANY SNAPSHOT 142
FIGURE 40 SWOT ANALYSIS: NOV 144
FIGURE 41 TESCO CORPORATION: COMPANY SNAPSHOT 146
FIGURE 42 SWOT ANALYSIS: TESCO 148
FIGURE 43 FOREMOST: COMPANY SNAPSHOT 160


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