Market Research Blog

Global Cold Forging Machines demand is expected to be valued at US$ 22.16 billion in 2022, rising at a CAGR of 5.5 percent to US$ 38 billion between 2022 and 2032. The increasing use of cold forging machines in the global market can be attributed to the high quality of the products produced, as well as the cost savings gained by skipping the fabrication process.

In the global market of cold forging machines, Asia Pacific is anticipated to dominate the market in terms of both market share and demand. The rising manufacturing activities in the region are expected to create significant demand for cold forging machines in the future.

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The mounting demand for forged metals in the automotive industry and infrastructural development is expected to thrust the growth of the cold forging machines market in the region. Asia-Pacific cold forging machines market is anticipated to grow at a CAGR of 4.0% over the forecast period.

Cold Forging Machine:

A Cold Forging Machine is a machine tool that compresses material under cold conditions by applying pressure. The compression power is transferred via dies, which are attached to opposing faces of the workpiece and plate known as an anvil.

Cold forging can be used on a variety of materials, including low carbon steel, alloy steel, aluminium alloys, copper alloys, and others. High power or force is used to push the material into a die with an impression of the desired shape.

The workpiece is placed at room temperature between two dies and then impacted with a hydraulic press until the metal takes on its final shape inside the die cavities. This cold forging process aids in the creation of precise parts with the desired shape, size, and dimensions.

Segments of the Global Cold Forging Machine Market Report:

Type 2-Die Station, 3-Die Station, 4-Die Station, 5-Die Station, 6-Die Station, Other (1-Die Station, 7-Die Station), and Application Fastener, Shaped Pieces are the market segments.

Some of the companies that are profiled in this report are:

• Jern Yao
• Chun Yu Group
• National Machinery
• Sacma
• Sakamura
• Hyodong
• Carlo Salvi
• Nakashimada
• Komatsu
• Nedschroef
• Sunac
• Tanisaka
• GFM
• Aida

Cold Forging Equipment Market research reports provide a close look at leading competitors through strategic analysis, micro and macro market trend and scenario analysis, pricing analysis, and a comprehensive overview of market situations during the forecast period. It is a thorough report that focuses on primary and secondary drivers, market share, leading segments, and geographical analysis. The report also examines key players, major collaborations, mergers and acquisitions, as well as trending innovation and business policies.

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Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Cold Forging Machine Market

Overview of the regional outlook of the Cold Forging Machine Market:

The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is divided into Brazil, Mexico, and the rest of Latin America, while the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.

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The global demand for heart beat monitors and sensors is anticipated to rise at an incredible CAGR of over 13% during the forecast period between 2022 to 2032. Growth is attributable to the rising need for continuous monitoring of patients with chronic heart conditions and growing popularity of wearable healthcare devices.

Although the healthcare industry has come a long way in the past few centuries, there is always room for improvement in this sector. The introduction of novel technologies such as internet of things and sensors has triggered a new wave of innovation in healthcare devices like heart beat monitors and the trend is likely to escalate during the forecast period.

Previously heart beat monitors and sensors were mostly used by healthcare professionals and fitness experts. However, with integration of heart beat monitor and sensors in smart watches and several other wearable health monitoring devices, the scenario has completely changed in recent years.

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Innovation in heart monitoring devices has been a key strategy of manufacturers for increasing their sales. Unlike conventional heart beat monitoring devices, the modern heart beat monitors and sensors make use of optics to measure the heart rate. Besides measuring heart rate, they can also measure the oxygen saturation in blood (SpO2),

Growing popularity of heart beat monitors and sensors for vital sign monitoring in patients with heart diseases along increasing adoption of diagnostic wearable medical devices for regular health monitoring is expected to boost market growth during the assessment period.

Which Factors are Triggering the Growth of Heart Beat Monitor and Sensor Market

Rising incidence of cardiovascular diseases worldwide, increasing penetration of wearable healthcare devices, innovations in heart beat monitor and sensor technology, and rapid expansion of healthcare industry are some of the major factors driving the growth in heart beat monitor and sensor market.

Heart beat monitors and sensors have become crucial solutions for patients suffering from chronic heart conditions. These devices have proved effective in improving the quality of life of patients with heart diseases.

Adoption of heart beat monitors and sensors allow patients to continuously monitor and record heart rate, prevent unforeseen health complications, and minimize the overall healthcare costs. They have significantly reduced hospital visits. Driven by this, demand for heart monitors and sensors is slated to grow at a prolific pace during the forecast period.

Similarly, growing health awareness among people regarding the benefits of continuous heart rate monitoring coupled with rapid expansion of the global wearable devices market will further create growth opportunities for the manufacturers of heart beat monitors and sensors during the forthcoming period.

Various companies are embedding heart beat monitors and sensors into fitness bands running watches, and trackers, to help sports and fitness enthusiasts to continuously measure and detect blood flowing through veins as well as to monitor vital signs. This is expected to create growth prospects for hearth beat monitor and sensor market during the assessment period.

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What are the Challenges Faced by the Heart Beat Monitor and Sensor Industry

Despite witnessing a positive growth trajectory, the global heart beat monitor and sensor market is facing various obstacles that are slowing down its growth to a large extent. Some of these factors are the lack of availability of these products across low economies, inconsistency issue of heart beat monitor and sensors during certain instances, and high cost associated with heart beat monitoring devices.

What is the Growth Projection for the North America Market

Currently, North America accounts for the largest share of the global heart beat monitor and sensor market and is expected to continue its dominance during the forecast period from 2022 to 2032. Growth in the market is driven by the ever-increasing trend of automation in healthcare industry, growing adoption of IoT technologies, rise in patient pool, and presence of leading market players.

Demand for heart monitors and sensors is rising at a stupendous pace across the United States due to increasing prevalence of heart diseases and growing popularity of wearable healthcare devices.

According to the Centers for Disease Control and Prevention (CDC), around 659000 people die from heart disease across the United States each year. This is prompting people to use heart monitoring devices like heart beat monitors and sensors.

Market Competition

Some of the key participants present in the global heart beat monitor and sensor market include Garmin Ltd., 4iiii Innovations, Medtronic (Zephyr), Polar Global, LifeTrak Inc., Wahoo Fitness, Cardiosport, and Suunto among others.

Amid rising demand for wearable heart monitoring devices, leading players are introducing novel products with additional features. Furthermore, they have adopted various strategies such as partnerships, collaborations, mergers, and acquisitions to expand their global footprint.

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Key Segments Profiled in the Heart Beat Monitor and Sensor Industry Survey

By Monitoring Type:

• Vital Sign Monitoring
• Diagnostic Monitoring
• Specialized Monitoring

By Application:

• Self-care
• Tele-health
• Medical

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East & Africa

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About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Sales of industrial hoses in China are set to be valued at US$ 986.5 Mn in 2021, with a steady long-term projection, according to latest data by Future Market Insights. The report estimates the market to expand at over 7% CAGR from 2021 to 2031.

The sports streaming platform market is expected to grow by CAGR of more than 22%. Sports streaming platform are online platforms which help to broadcast live coverage of sports events. It enables users to access live coverage of sports such as Basketball, Football, Baseball, Tennis, Cricket, and many more.

Sports streaming platform provides access to live streaming of sports through television, tablets, smartphones, and computers. According to latest research, sports streaming platform market is set to witness significant growth during 2021-2031. The market will show significant growth in coming years, owing to factors such as increasing adoption of mobile devices in recent years, increase in devices connected services multi-platform.

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What is Driving Demand for Sports Streaming Platform Market?

Growing adoption of devices such as tablets, laptops, and mobile devices in recent years and ease in devices connected services multi-platform propels the demand for sports streaming platform. Increasing popularity of sport events among people fuels the demand for sports streaming platform. In developed as well as developing countries the adoption of internet accessibility and smartphones has increased.

Also increasing use of internet and smart devices in various sector fuels the demand for the sports streaming platform. The collaboration of online platform firms with different organizations drives the demand for the sports streaming platform.

Advancement in Technology in Different Sectors and the Increase in Number of Internet Users is Driving the Adoption of Sports Streaming Platform Market

The increasing adoption of internet connectivity across the globe and expansion of the internet fuels the demand for the sports streaming platform. Also the penetration of technologies such as 4G and 5G has been increased owing to factors such as mounting telecom infrastructure, rising internet speed, and lowering rates of bundles or data packs.

Increasing adoption of technologically sound and low cost smartphones fuels the usage of the internet which ultimately propels the demand of the sports streaming platform.

North America Sports Streaming Platform Market Outlook

North America is anticipated to constitute a highest growth in the sports streaming platform market over the forecasted period. The North America shows significant growth in sports streaming platform owing to factors such as high internet penetration, sports popularity and increasing inclination towards digital platforms.

North America people specially millennials and generation z shows more interest towards on demand content service instead of traditional network. The popularity of sports such as National Football League (NFL) and Major League Baseball (MLB) is significant in US. This is expected to fuel the demand for sports streaming platform market in North America region.

North America has presence of sports streaming platform providers such as LiveTV, Hulu + Live TV, WatchESPN and AT&T TV. Presence of such key sports streaming platform providers duels the demand for the sports streaming platform in North America region.

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Europe Demand Outlook for Sports Streaming Platform Market

Europe is the second largest contributor to sports streaming platform market, owing to technological advancements in communication technologies such as 4G and 5G, increasing internet penetration in Europe region. France, Germany, Italy, France, and U.K. are the dominating economies in Europe region.

High adoption of smart devices such as tablets, smartphones, and computer in the developed economies such as Germany, France, and U.K. fuels the growth of the sports streaming platform in Europe region. Also popularity for sports league such as FIFA world cup, ICC world cup, tennis slam Grand slams, and many more is significant in the Europe region. Thus popularity of such sports events in Europe region fuels the demand for sports streaming platform.

The stringent government regulations about telecom industry in major economies such as France, Germany, Italy, United Kingdom, Spain has been one of the major driving factor for the growth of the sports streaming platform market.

Who are the Major Vendors of Sports Streaming Platform Market?

Some of the leading vendors and companies of sports streaming platform market include

• Amazon
• AT&T
• DAZN Limited
• CBS INTERACTIVE
• Disney
• ESPN Enterprises, Inc.
• fuboTV Inc.
• Google LLC
• Fox Sports Interactive Media, LLC.
• Hulu, LLC
• Kayo Sports

Sports Streaming Platform Market Report Highlights:

• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

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Key Segments

By Pricing Model:

• Sports Streaming Platform
  • Cloud Based
  • On-Premises
• Services
  • Professional Services
  • Managed Services

By Platform:

• Web-based
  • App-based
• Sports Type

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

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About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:
Future Market Insights,
Unit No: 1602-006,
Jumeirah Bay 2,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers,
Dubai,
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Website: https://www.futuremarketinsights.com
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As industries look to leverage effective water treatment solutions, investments in industrial vacuum evaporation systems size are expanding, with prominent end-users preferring thermal evaporators over other types. Industrial vacuum evaporation system consumption is predicted to increase at a CAGR of 6.1% from 2022 to 2030. At present, the global industrial vacuum evaporation systems market is worth US$ 2.43 Bn, and is estimated to attain a revenue total of US$ 4.16 Bn by the end of 2030.

According to the study, the market is expected to grow at a 6.7 percent CAGR through 2030, with rising awareness of wastewater management driving momentum. Future Market Insights (FMI), an ESOMAR-certified market research firm, has recently published a report on the global industrial vacuum evaporation systems market, explaining the key dynamics responsible for shaping growth over the 2022-2030 evaluation period.

Because of the growing problem of untreated effluent discharge across freshwater bodies, wastewater treatment and control have gained prominence over time. With over 80% of wastewater discharged without treatment, governments have tightened policies to ensure compliance with chemical vegetation.

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Key Takeaways

• The global industrial vacuum evaporation systems market was valued at US$ 2.3 Bn in 2019
• By system type, multiple effect thermal evaporators likely to account for nearly 90% share
• Demand for 1,000-2,000 liters/day capacity evaporators to exhibit credible growth until 2025
• Wastewater treatment & recycling to remain major application areas, generating over a third of global revenue
• Opportunities abound across the South Asia & Pacific region, expected to register an 8% value CAGR through 2030

“Implementation of stringent emission and effluent discharge control regulations across key regions is accelerating adoption of industrial vacuum evaporation systems, with specific emphasis on wastewater treatment across the chemical industry,” remarks the FMI analyst.

COVID-19 Impact Analysis

The COVID-19 pandemic has induced an unprecedented impact across the global industrial manufacturing sector, severely disrupting supply chains in the wake of declining production cycles due to government-imposed lockdowns. Consequently, GDP levels have nosedived, inducing economic troughs across all countries.

A deceleration of approximately -6% has been projected for the industrial vacuum evaporation systems market through 2020. Furthermore, the UN Conference on Trade & Development estimates the global FDI levels to shrink by 5-15% due to a contraction of the manufacturing sector. Hence, recovery prospects appear quite challenging.

However, growth prospects are expected to heighten from 2021, with countries expected to ease lockdown restrictions, prompting industries to resume operations. Manufacturers have made it their top priority to secure their supply chains from further recessionary shocks by establishing strong distribution networks to avoid supply crunches.

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Competitive Landscape

Prominent players operating in the global industrial vacuum evaporation systems market include

• GEA Group
• SUEZ
• Veolia
• PRAB
• BÜCHI Labortechnik AG
• GEMÜ Group
• Heidolph Instruments GmbH & CO. KG
• S.A.I.T.A SRL
• WIGGENS GmbH
• IWE SRL
• Condorchem Envitech
• ENCON Evaporators
• Eco-Techno SRL
• Sanshin Mfg. Co. Ltd.
• EYELA

These players rely on a combination of expansion and consolidation strategies to remain afloat. Some important strategies include the incorporation of advanced technologies based on artificial intelligence and automation, strategic partnerships with other industrial giants, and collaborations with industry.

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The global weatherization services market value to grow with a year-on-year growth of 4.0%, reaching US$ 35 Bn by the end of 2022. Weatherization enhances energy efficiency while lowering energy usage, saving money on energy bills and improve the comfort of home.

Future Market Insights delivers key insights on the global weatherization services market in its latest report titled “Weatherization Services Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2022 – 2028”, which examines the weatherization services market and offers critical insights for the next ten years.

According to the report’s findings, the market is expected to grow steadily over the forecast period, driven by rising stringent regulations mandating the use of insulation materials to reduce building energy consumption.

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Global Weatherization Services Market: Dynamics

Recovery in the construction industry across the globe is being accelerated by the steady growth in population, which is resulting in the growing demand for construction materials, for both residential and non-residential buildings. This, in turn, will propel the growth of the weatherization services market across the globe. The U.S. Department of Energy (DOE) recognizes the enormous potential for improving energy efficiency, safety and comfort of the existing American homes.

According to DOE, heating & cooling (Space conditioning) accounts for about 50%-60% of the total energy consumption in an average American home. Hence, the rising adoption of insulation in residential or home buildings is one of the major factors fueling the demand for insulation installations, consequently also contributing to the weatherization services market’s growth.

Energy resources are limited, every unit saved is equivalent to every unit produced and this is where the role of efficient weatherization services comes into play. An array of initiatives are being taken up by various states and federal governments across the globe to reduce CO2 emissions. More importantly, growing public awareness about climate change has proliferated the need for renewable energy systems and reduced energy waste.

This factor is positively impacting the Global weatherization services market. Further, to curb carbon dioxide emissions, the use of lightweight insulation materials with promising mechanical properties, such as stiffness, rigidity, elevated temperature durability and chemical resistance, is expected to increase. Thus, in order to gain a competitive edge, key players are likely to invest significantly to develop high-performance insulation products in the weatherization services market.

Global Weatherization Services Market: Segmentation Overview

• On the basis of application, the sidewall insulation segment dominates the global weatherization segment market. While the segment is projected to lose market share to the attic insulation segment by the end of THE forecast period, it is yet expected to maintain its prominence during the forecast period. Foam insulation is expected to be the prime material preferred for various applications and its popularity will be followed by the popularity of fibreglass for various applications in the global weatherization services market
• On the bases of construction type, the weatherization services market has been segmented into new construction and retrofit segments. The new construction segment dominated the Weatherization services market in 2017 and is expected to gain further traction owing to the steady growth of the construction industry
• On the bases of end-use, the weatherization services market has been segmented into residential and commercial & institutional. The commercial & institutional segment is expected to witness 1.5X growth in the global weatherization services market over the forecast period.

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Global Weatherization Services Market: Regional Overview

Western Europe, followed by North America, dominated the global weatherization services market in 2017. However, over the course of the forecast period, the Western Europe weatherization services market is estimated to lose its dominance to the North America weatherization services market. North America and Western Europe are collectively expected to account for over half of the global weatherization services market. Further, the top 5 countries in the Weatherization services market account for about half of the overall market. The weatherization services market is expected to witness significant growth in developing economies over the forecast period.

Global Weatherization Services Market: Vendor Insights

The report highlights some of the leading companies operating in the global weatherization services market, such as TopBuild Corp, Insulated building products, Inc., Builders FirstSource, Inc., Takashima & Co., Ltd., Dyson Energy Services Ltd., HomeWorks Energy, Inc., USA Insulation, Banker Insulation and Anderson Insulation.

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The global business is anticipated to witness a considerable value CAGR of 4.8% during the period 2022 and 2028. Hydrostatic testing is the most common method for inspecting meter skids, compressed gas cylinders, pressure relief valves, boilers, tubing, pipelines, and other pressurized containers for leaks and structural integrity. It’s typically used to test low-pressure stainless steel canisters as well as determine whether or not the equipment has any leaks at the time of the test and whether or not it’s safe to return to operation.

Hydrostatic testing is a way to ascertain strength and leaks in pressure vessels such as pipelines, gas cylinders, boilers, and fuel tanks. In the pipeline industry, hydrostatic testing presents unique safety, environmental and community liaison challenges. However, outside the pipeline industry, there is considerably lean understanding of hydrostatic pressure testing of existing pipelines.

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The Electronic Prototyping market is projected to grow at an expected CAGR of 14.6% during the forecast period 2021-2031. Electronic prototyping is a way of testing the design, functionality, appearance, safety and manufacturability of an electronic product.

A key component in creating an electronics prototype is an electronic system design. Electronic product prototyping and PCB prototyping are the two types of electronic prototyping. Prototyping for electronic products is more concerned with the functioning and final product design. PCB prototyping, on the other hand, concentrates on the product’s electronics. The market for electronic prototyping is anticipated to expand at a high rate during the forecast period since prototypes have been shown to be an essential phase in the creation of any electronic product.

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What is Driving Demand for Electronic Prototyping?

PCB prototyping is used by PCB designers for testing the functionality of solutions with every new change. It also allows designers and teams to test at every stage of design. As per the requirements, they make adjustments to tailor the solution before the run of full production. Such benefits of electronic prototyping are helping the market to grow in upcoming years.

Before creating the final product, engineers go through several iterations for developing a PCB design and this can be a lengthy process. Electronic prototyping helps in speeding up the manufacturing process and design through complete testing, visual assistance and minimized rework. Reducing the timeline for fabricating prototypes is driving the growth of electronic prototyping.

What are the Key Trends for Electronic Prototyping?

Industries like consumer electronics is using electronic prototyping for functional testing, PCB design, conditional testing and final product design. The solution provides an accurate and reliable prototypes, which makes easier to solve issues of design throughout the development of process. Electronic prototypes help consumer electronics determine adjustment of product or packaging for the final PCB design. At the back of such trend, the market of electronic prototyping is expected to grow in upcoming years.

Automotive industry is adopting electronic prototyping as the solution helps to reduce the manufacturing cost. With the help of prototyping solution, the industry is improving product quality and also reducing the cost of process of manufacturing. Such trends are continuously contributing to the growth of electronic prototyping.

South Asia Demand Outlook for Electronic Prototyping

South Asia is becoming one of the advanced region for manufacturing PCB designs for many key vendors with the help of advanced technology as the labor is cheap. Government is also supporting the development of new industries, working in this area of solution.

It has been found that South Asia people are strongly supporting new technological advancements and also demanding for testing design, functionality, appearance, safety and manufacturability for an electronic product. Such penetration will create many opportunities for electronic prototyping in upcoming years in this region.

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Europe Demand Outlook for Electronic Prototyping

The Europe region is going to hold a significant share of the electronic prototyping market from 2020 to 2031. The reason behind this the presence of major solution providers in the region. Europe region is having a largest market for PCB prototyping and electronic product prototyping in many industries like consumer electronics, automotive, industrial, internet of things and other.

Hence, due to extended boundaries of prototypes in electronics prototypes, computer software, and computer engineering, the demand for electronic prototypes continues to grow in this region during the forecast period.

Who are the Key Electronic Prototyping Vendors?

Some of the leading vendors of electronic prototyping include

• Asteelflash
• Softeq Development Corp
• ByteSnap Design
• Promwad
• IDEA REALITY
• RevPart
• Titoma and others are some of the key players in the market.

Electronic Prototyping Report Highlights:

• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

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Key Segments

By Type:

• PCB Prototyping
• Electronic Product Prototyping

By Solution:

• Software
• Services

By Applications:

• Automotive
• Consumer Electronics
• Industrial
• Internet of Things
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa
• Rest of MEA

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About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:
Future Market Insights,
Unit No: 1602-006,
Jumeirah Bay 2,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers,
Dubai,
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The global electric & hydraulic wellhead drives for the onshore application market was calculable to be around US$ 111.7 million in 2017 and is predicted to register a CAGR of 8.4% over the forecast.

The market for electrical and hydraulic wellhead drives for onshore applications is expected to reach US$ 251.3 Mn by the end of 2028, with an estimated value of US$ 111.7 Mn in 2017.

The electrical and hydraulic Wellhead Drives for Onshore Application Market are examined in the latest market report from Future Market Insights, which also offers crucial market insights for the ensuing ten years.

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Consistent with the report, the electrical Wellhead section by product sort is expected to dominate the market accounting for over ninety p.c share within the overall market price by 2028 end, registering a CAGR of 9.8 % throughout the forecast amount.

Global Electric & Hydraulic Wellhead Drives for Onshore Application Market: Factors Impacting Revenue Growth     

It is estimated that the count of onshore wells will increase to cope with the increasing demand for oil & gas from various end-use sectors, which in turn is expected to have a positive impact on the growth of the Electric & Hydraulic Wellhead Drives market as these wellheads are largely used for onshore oil production.

Though the increase in the good count is estimated to grow slowly and steadily — rising from 59,000 in 2015 to over 69,000 by 2021 end — the sales of Electric & Hydraulic Wellhead Drives is expected to increase at a significant rate due to the growing application of PCP systems to pump out water and oil. In shallow wells, relatively more PCP systems are used in comparison to deep wells.

The demand for wellhead drives is growing rapidly in North America, especially in Canada, which can be attributed to the large number of wells using Progressing Cavity Pumps (PCP) and thereby leading to the growing demand for Wellhead Drives, as on an average one PCP System uses one Wellhead Drive. It is estimated that Canada has an installed base of over 42,000 Progressing Cavity Pumps, which is nearly 62.7% of the global installed base of PCPs. This makes Canada one of the prominent users of PCPs and Wellhead Drives.

The replacement rate of Electric & Hydraulic Wellhead Drives is usually between 7-10 years, which means that end-use companies replace Electric & Hydraulic Wellhead Drives after every 7-10 years. This restricts the new unit sales of Electric & Hydraulic Wellhead Drives.

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Global Electric & Hydraulic Wellhead Drives for Onshore Application Market Forecast

Based on the Product Type segment, the Electric Wellhead drive segment is anticipated to play a crucial role in building global market revenue. This segment is expected to register a CAGR of 9.8% during the forecast period. Based on region, Latin America is projected to dominate the global Electric & Hydraulic Wellhead Drives for Onshore Application Market throughout the forecast period in terms of revenue growth.

The regional market in Latin America is expected to expand at a CAGR of 9.5% during the forecast period. The market in North America is anticipated to register a CAGR of 6.2% during the forecast period. Both Latin America and North America are expected to register relatively faster growth during the forecast period.

Global Electric & Hydraulic Wellhead Drives for Onshore Application Market: Competitive Landscape

Some of the players reported in this study on the global Electric & Hydraulic Wellhead Drives for Onshore Application Market include Schlumberger Limited, NETZSCH, GE Electric, Weatherford International, National Oilwell Varco, Inc. among others. Industry players, over the recent past, have been channelizing efforts towards acquiring other regional/country players.

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