Global Workover Rigs Market 2024-2028

Description

List of Tables

The workover rigs market is forecasted to grow by USD 437.19 mn during 2023-2028, accelerating at a CAGR of 4.47% during the forecast period. The report on the workover rigs market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by technological advancements in drilling and workover technologies, efforts to increase oil and gas production from mature fields, and growing adoption of remotely operated vehicles (ROVs).

Technavio's workover rigs market is segmented as below:

Market Scope
Base Year	2024
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	4.33%
CAGR	4.47%
Incremental Value	$437.19mn

By Application

Onshore
Offshore

By Type

Single drum
Double drum

By Geographical Landscape

North America
Middle East and Africa
APAC
Europe
South America

This study identifies the endorsement of laser technology in workover operations as one of the prime reasons driving the workover rigs market growth during the next few years. Also, development of intelligent well completion technologies and emergence of automated workover rigs will lead to sizable demand in the market.

The report on the workover rigs market covers the following areas:

Workover rigs market sizing
Workover rigs market forecast
Workover rigs market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading workover rigs market vendors that include Baker Hughes Co., Cactus Inc., Deep Industries Ltd., Ensign Energy Services Inc., Estrella International Energy Services Ltd., Halliburton Co., INDEPENDENCE CONTRACT DRILLING INC., L and T Technology Services Ltd., MB Holding Co. LLC, MFF OILFIELD GROUP., MND, Nabors Industries Ltd., National Energy Services Reunited Corp., OiLSERV, PR Marriott Drilling Ltd., Precision Drilling Corp., Schlumberger Ltd., Aakash Exploration Services Ltd., Drillmec Spa, Oil India Ltd., Total Energy Services Inc., Transcontinental Energy Services LLC, and Trevi Group. Also, the workover rigs market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR44023

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Application
Exhibit 06: Executive Summary - Chart on Market Segmentation by Type
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global workover rigs market 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global workover rigs market 2018 - 2022 ($ million)
4.2 Application Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Application Segment 2018 - 2022 ($ million)
4.3 Type Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - Type Segment 2018 - 2022 ($ million)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ million)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Application

6.1 Market segments
Exhibit 30: Chart on Application - Market share 2023-2028 (%)
Exhibit 31: Data Table on Application - Market share 2023-2028 (%)
6.2 Comparison by Application
Exhibit 32: Chart on Comparison by Application
Exhibit 33: Data Table on Comparison by Application
6.3 Onshore - Market size and forecast 2023-2028
Exhibit 34: Chart on Onshore - Market size and forecast 2023-2028 ($ million)
Exhibit 35: Data Table on Onshore - Market size and forecast 2023-2028 ($ million)
Exhibit 36: Chart on Onshore - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on Onshore - Year-over-year growth 2023-2028 (%)
6.4 Offshore - Market size and forecast 2023-2028
Exhibit 38: Chart on Offshore - Market size and forecast 2023-2028 ($ million)
Exhibit 39: Data Table on Offshore - Market size and forecast 2023-2028 ($ million)
Exhibit 40: Chart on Offshore - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on Offshore - Year-over-year growth 2023-2028 (%)
6.5 Market opportunity by Application
Exhibit 42: Market opportunity by Application ($ million)
Exhibit 43: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Type

7.1 Market segments
Exhibit 44: Chart on Type - Market share 2023-2028 (%)
Exhibit 45: Data Table on Type - Market share 2023-2028 (%)
7.2 Comparison by Type
Exhibit 46: Chart on Comparison by Type
Exhibit 47: Data Table on Comparison by Type
7.3 Single drum - Market size and forecast 2023-2028
Exhibit 48: Chart on Single drum - Market size and forecast 2023-2028 ($ million)
Exhibit 49: Data Table on Single drum - Market size and forecast 2023-2028 ($ million)
Exhibit 50: Chart on Single drum - Year-over-year growth 2023-2028 (%)
Exhibit 51: Data Table on Single drum - Year-over-year growth 2023-2028 (%)
7.4 Double drum - Market size and forecast 2023-2028
Exhibit 52: Chart on Double drum - Market size and forecast 2023-2028 ($ million)
Exhibit 53: Data Table on Double drum - Market size and forecast 2023-2028 ($ million)
Exhibit 54: Chart on Double drum - Year-over-year growth 2023-2028 (%)
Exhibit 55: Data Table on Double drum - Year-over-year growth 2023-2028 (%)
7.5 Market opportunity by Type
Exhibit 56: Market opportunity by Type ($ million)
Exhibit 57: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 59: Chart on Market share By Geographical Landscape 2023-2028 (%)
Exhibit 60: Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
Exhibit 61: Chart on Geographic comparison
Exhibit 62: Data Table on Geographic comparison
9.3 North America - Market size and forecast 2023-2028
Exhibit 63: Chart on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 64: Data Table on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 65: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 66: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.4 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 67: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 68: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 69: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 70: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.5 APAC - Market size and forecast 2023-2028
Exhibit 71: Chart on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 72: Data Table on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 73: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 74: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.6 Europe - Market size and forecast 2023-2028
Exhibit 75: Chart on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 76: Data Table on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 77: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 78: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.7 South America - Market size and forecast 2023-2028
Exhibit 79: Chart on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 80: Data Table on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 81: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 82: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
Exhibit 83: Chart on US - Market size and forecast 2023-2028 ($ million)
Exhibit 84: Data Table on US - Market size and forecast 2023-2028 ($ million)
Exhibit 85: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 Canada - Market size and forecast 2023-2028
Exhibit 87: Chart on Canada - Market size and forecast 2023-2028 ($ million)
Exhibit 88: Data Table on Canada - Market size and forecast 2023-2028 ($ million)
Exhibit 89: Chart on Canada - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on Canada - Year-over-year growth 2023-2028 (%)
9.10 Saudi Arabia - Market size and forecast 2023-2028
Exhibit 91: Chart on Saudi Arabia - Market size and forecast 2023-2028 ($ million)
Exhibit 92: Data Table on Saudi Arabia - Market size and forecast 2023-2028 ($ million)
Exhibit 93: Chart on Saudi Arabia - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on Saudi Arabia - Year-over-year growth 2023-2028 (%)
9.11 China - Market size and forecast 2023-2028
Exhibit 95: Chart on China - Market size and forecast 2023-2028 ($ million)
Exhibit 96: Data Table on China - Market size and forecast 2023-2028 ($ million)
Exhibit 97: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on China - Year-over-year growth 2023-2028 (%)
9.12 Russia - Market size and forecast 2023-2028
Exhibit 99: Chart on Russia - Market size and forecast 2023-2028 ($ million)
Exhibit 100: Data Table on Russia - Market size and forecast 2023-2028 ($ million)
Exhibit 101: Chart on Russia - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on Russia - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
Exhibit 103: Market opportunity By Geographical Landscape ($ million)
Exhibit 104: Data Tables on Market opportunity By Geographical Landscape ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 105: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 107: Overview on factors of disruption
11.4 Industry risks
Exhibit 108: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 109: Vendors covered
12.2 Market positioning of vendors
Exhibit 110: Matrix on vendor position and classification
12.3 Baker Hughes Co.
Exhibit 111: Baker Hughes Co. - Overview
Exhibit 112: Baker Hughes Co. - Business segments
Exhibit 113: Baker Hughes Co. - Key news
Exhibit 114: Baker Hughes Co. - Key offerings
Exhibit 115: Baker Hughes Co. - Segment focus
12.4 Cactus Inc.
Exhibit 116: Cactus Inc. - Overview
Exhibit 117: Cactus Inc. - Product / Service
Exhibit 118: Cactus Inc. - Key offerings
12.5 Ensign Energy Services Inc.
Exhibit 119: Ensign Energy Services Inc. - Overview
Exhibit 120: Ensign Energy Services Inc. - Business segments
Exhibit 121: Ensign Energy Services Inc. - Key offerings
Exhibit 122: Ensign Energy Services Inc. - Segment focus
12.6 Halliburton Co.
Exhibit 123: Halliburton Co. - Overview
Exhibit 124: Halliburton Co. - Business segments
Exhibit 125: Halliburton Co. - Key news
Exhibit 126: Halliburton Co. - Key offerings
Exhibit 127: Halliburton Co. - Segment focus
12.7 INDEPENDENCE CONTRACT DRILLING INC.
Exhibit 128: INDEPENDENCE CONTRACT DRILLING INC. - Overview
Exhibit 129: INDEPENDENCE CONTRACT DRILLING INC. - Product / Service
Exhibit 130: INDEPENDENCE CONTRACT DRILLING INC. - Key offerings
12.8 MB Holding Co. LLC
Exhibit 131: MB Holding Co. LLC - Overview
Exhibit 132: MB Holding Co. LLC - Product / Service
Exhibit 133: MB Holding Co. LLC - Key offerings
12.9 MFF OILFIELD GROUP.
Exhibit 134: MFF OILFIELD GROUP. - Overview
Exhibit 135: MFF OILFIELD GROUP. - Product / Service
Exhibit 136: MFF OILFIELD GROUP. - Key offerings
12.10 MND
Exhibit 137: MND - Overview
Exhibit 138: MND - Product / Service
Exhibit 139: MND - Key offerings
12.11 Nabors Industries Ltd.
Exhibit 140: Nabors Industries Ltd. - Overview
Exhibit 141: Nabors Industries Ltd. - Business segments
Exhibit 142: Nabors Industries Ltd. - Key news
Exhibit 143: Nabors Industries Ltd. - Key offerings
Exhibit 144: Nabors Industries Ltd. - Segment focus
12.12 OiLSERV
Exhibit 145: OiLSERV - Overview
Exhibit 146: OiLSERV - Product / Service
Exhibit 147: OiLSERV - Key offerings
12.13 PR Marriott Drilling Ltd.
Exhibit 148: PR Marriott Drilling Ltd. - Overview
Exhibit 149: PR Marriott Drilling Ltd. - Product / Service
Exhibit 150: PR Marriott Drilling Ltd. - Key offerings
12.14 Precision Drilling Corp.
Exhibit 151: Precision Drilling Corp. - Overview
Exhibit 152: Precision Drilling Corp. - Business segments
Exhibit 153: Precision Drilling Corp. - Key offerings
Exhibit 154: Precision Drilling Corp. - Segment focus
12.15 Schlumberger Ltd.
Exhibit 155: Schlumberger Ltd. - Overview
Exhibit 156: Schlumberger Ltd. - Business segments
Exhibit 157: Schlumberger Ltd. - Key news
Exhibit 158: Schlumberger Ltd. - Key offerings
Exhibit 159: Schlumberger Ltd. - Segment focus
12.16 Total Energy Services Inc.
Exhibit 160: Total Energy Services Inc. - Overview
Exhibit 161: Total Energy Services Inc. - Business segments
Exhibit 162: Total Energy Services Inc. - Key offerings
Exhibit 163: Total Energy Services Inc. - Segment focus
12.17 Transcontinental Energy Services LLC
Exhibit 164: Transcontinental Energy Services LLC - Overview
Exhibit 165: Transcontinental Energy Services LLC - Product / Service
Exhibit 166: Transcontinental Energy Services LLC - Key offerings

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 167: Inclusions checklist
Exhibit 168: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 169: Currency conversion rates for US$
13.4 Research methodology
Exhibit 170: Research methodology
Exhibit 171: Validation techniques employed for market sizing
Exhibit 172: Information sources
13.5 List of abbreviations
Exhibit 173: List of abbreviations