Positive Displacement Motor Market is segmented by Application (Onshore and Offshore), and by Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa and Rest of World)
Positive Displacement Motor Market size shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
Positive displacement motors are mainly used in steerable technology in directional drilling. They convert liquid fuel flow inside equipments into rotational energy in order to power the drilling bits at high rpm. The drilling process has been automated to optimize performance.
Major positive displacement motors market players are Halliburton which released iCruise and Intelligent Rotary Steerable System for longer laterals, faster drilling and accurate steering capabilities, MATRRIX Energy Technologies Inc, Nabors Industries, Schlumberger LTD and Weatherford International plc. The market is still in the growth phase. Americas is the market dominator with APAC and EMEC following in second and third positions. The onshore segment has the largest market share. With profitability reducing due to more use of alternative power sources, market players have started restructuring their operations to cope.
Companies are using exploration and production (E&P) operations in new and existing oil & gas production sites. These operations are being carried out onshore and offshore. There is an increase in offshore and ultra deep water exploration operations. IoT(Internet of Things) has been introduced in operations enhancing decision making and to help find effective solutions in oil and gas production e.g by enhancing hydrocarbon recovery, minimizing risks and uncertainties. Drilling equipment are being reinforced with real time data acquisition, wireless communication, sensors and GPS.
Positive Displacement Motor Market Growth and Trends
Driving factors for the industry :
•Major oil and gas companies across the globe have increased their exploration & production (E&P) activities to meet the increasing demand for liquid fuel by the end sector consumers. This will accelerate the positive displacement motor market growth and demand as these motors are primarily used in directional and offshore drilling, meeting the demands of several end-use industries such as chemicals and petrochemicals owing to their high resistivity towards hazardous chemicals and durability.
•The increasing demand for upstream oil & gas drilling activities and increase in deep and ultra-deepwater exploration activities drive the demand for positive displacement motor for offshore and directional drilling, thereby boosting the market’s growth.
•The growing use of liquid fuels and applications of IoT(Internet Of Things) in the O&G sectors ( Oil and Gas) boost the growth of the market because introduction of IoT, fastens the recovery of hydrocarbons available in the reservoir, by lowering the chances of risks and uncertainties in the process. This and the application of automation technologies improve the accuracy of E&P activities by providing better data, decision-making abilities, real-time data acquisition, analysis and wireless communication like sensors and GPS.
•The market is projected to witness substantial growth in the forecast years because of their increasing replacement of the existing ordinary pumps with newer and better industrial pumps in order to achieve better energy efficiency. This growing preference of the end users towards replacing the entire pump rather than individual parts owing to lack of skilled maintenance person is going to boost the production demand for these rotary industrial pumps.
•Rising urbanisation resulting in high demand for liquid fuel and high-pressure pumping systems in various industries, such as oil and gas, chemical processing , water and wastewater treatment is further going to boost the growth of this market because it is required to adopt water treatment units to overcome water scarcity risks. So, wastewater treatment will create sufficient opportunities for the growth of the positive displacement motor market in the future.
Challenges for the industry :
One of the major key factors hindering the growth of this market is the fluctuations or volatility in global crude oil prices. The fall in crude oil import price adversely affects the profitability of several upstream companies which in turn hamper the growth of positive displacement motor market for the next few years.
Positive Displacement Motor Market Regional Analysis
Positive Displacement Motor Market Share and Competition
Key companies operating in this industry are: Halliburton Company, Nabors Industries, Schlumberger Limited, MATRRIX Energy Technologies Inc., and Weatherford International plc
Positive Displacement Motor Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Application Analysis (Revenue, USD Million, 2020 - 2027)
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Positive Displacement Motor Market Companies
• Halliburton Company
• Nabors Industries
• Schlumberger Limited
• MATRRIX Energy Technologies Inc.
• Weatherford International plc
Available Versions: -
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India Positive Displacement Motor Market Research Report
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