HOME Top Market Reports Hydraulic Workover Unit Market by Application (Onshore, Offshore), by Services (Snubbing, Workover), & by Region - Global Trends & Forecast to 2019

Hydraulic Workover Unit Market by Application (Onshore, Offshore), by Services (Snubbing, Workover), & by Region - Global Trends & Forecast to 2019

By: marketsandmarkets.com
Publishing Date: April 2015
Report Code: EP 3332

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The increase in demand and supply gap worldwide in energy sector has increased the drilling activities around the globe which has finally increased the usage of hydraulic workover unit market. Hydraulic workover unit can be used to install or remove tubular in or out of well which has zero surface pressure, mud or heavy fluid in the wellbore. The volume based market is projected to grow with a CAGR of 6.2% between 2014 and 2019.Increasing deepwater discoveries, commissioning of new oil refineries, increased in the mature fields and the increased in shale gas production in the North America along with China and Australia has increased the demand for hydraulic workover unit in the countries.

In terms of significance, the market has been segmented on the basis of installation type include skid mounted and trailer mounted workover rig markets. The market segments by application include onshore and offshore. The market segments by service include snubbing and workover services. The geographic segmentation includes the market size and share of North America, South America, Asia- Pacific, Europe, Middle East and Africa.

This report delivers an analysis of key companies and the recent developments recorder in the industry related to the hydraulic workover unit market. In the report, the industrial trends with the help of Porters Five Forces, market drivers, restraints, opportunities and challenges have been discussed in detail. The leading players of the market such as Halliburton (US), Key Energy Services (US), Nabors Industries Ltd. (US) and Superior Energy Services, Inc. (US) have been profiled to provide the scenario of the competitiveness in the hydraulic workover unit market. Companies’ strategic expansion and planned mergers and acquisitions have helped them to enhance their product portfolio in different geographical locations whereas the agreements, contracts, joint ventures and partnerships have been the key policies adopted by the companies to increase their market share.

E&P and drilling activities are growing both onshore and offshore, which is encouraging the demand for hydraulic workover unit for oil & gas wells. Increasing deepwater discoveries in Africa and Latin America with the increase in mature oil fields and shale production in the North America has increased the usage of hydraulic workover unit. Leading manufacturers of hydraulic workover unit are focussing on both developed and emerging countries that have the potential for industrial development in the nearby future.

In these report market has been segmented into the following types -

On the basis of Installation type

  • Skid workover rig
  • Trailer mounted workover rig

On the basis of Application

  • Onshore
  • Offshore

On the basis of Service

  • Workover
  • Snubbing

On the basis of region

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

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
                    1.3.1.1 By Application
                               1.3.1.1.1 Onshore Application
                               1.3.1.1.2 Offshore Application
                    1.3.1.2 By Installation Type
                               1.3.1.2.1 Skid Mounted
                               1.3.1.2.2 Trailer Mounted
                    1.3.1.3 By Service
                               1.3.1.3.1 Workover Services
                               1.3.1.3.2 Snubbing Services
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Package Size
    1.7 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Factor Analysis
           2.2.1 Introduction
           2.2.2 Demand Side Analysis
                    2.2.2.1 Increasing Oil & Gas Consumption
                    2.2.2.2 New Discoveries in Hydrocarbons Reserves
           2.2.3 Supply Side Analysis
                    2.2.3.1 Growth in Subsea Well Intervention Expenditure
                    2.2.3.2 Huge Offshore Expenditure
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Market Breakdown & Data Triangulation
    2.5 Research Assumptions & Limitations
           2.5.1 Assumptions
           2.5.2 Limitations

3 Executive Summary (Page No. - 35)

4 Premium Insights (Page No. - 39)
    4.1 Attractive Market Opportunities in the Hydraulic Workover Unit Market
    4.2 Hydraulic Workover Unit Market – Top Three Regions
    4.3 Hydraulic Workover Unit Market in Asia-Pacific
    4.4 North America Dominated the Hydraulic Workover Unit Market in 2013
    4.5 Hydraulic Workover Unit Market: Application

5 Market Overview (Page No. - 46)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 Introduction
           5.2.2 on the Basis of Service
                    5.2.2.1 Work-Over Services
                    5.2.2.2 Snubbing Services
           5.2.1 on the Basis of Installation
                    5.2.1.1 Skid Mounted
                    5.2.1.2 Trailer Mounted
           5.2.2 on the Basis of Application
                    5.2.2.1 Onshore Application
                    5.2.2.2 Offshore Application
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Deeper Water Discoveries in Africa and Latin America
                    5.3.1.2 Rising Shale Gas Production in the U.S.
                    5.3.1.3 Increased Use of Crude Oil for Power Generation By Saudi Arabia
           5.3.2 Restraint
                    5.3.2.1 Environmental Concerns and Oil Spills
           5.3.3 Opportunities
                    5.3.3.1 Privatization of the Mexican Oil & Gas Industry
                    5.3.3.2 Middle East Will be the Major Oil Supplier By 2020
                    5.3.3.3 Increase in the Number of Mature Oil & Gas Fields
                    5.3.3.4 New Technology for High Oil & Gas Resources in Kazakhstan
           5.3.4 Challenge
                    5.3.4.1 Stringent Regulatory Policies
    5.4 Impact of Market Dynamics
    5.5 Impact of Oil Prices Decline

6 Industry Trends (Page No. - 58)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat of Substitutes
           6.3.2 Threat of New Entrants
           6.3.3 Bargaining Power of Buyers
           6.3.4 Bargaining Power of Suppliers
           6.3.5 Degree of Competition

7 Hydraulic Workover Unit Market, By Application (Page No. - 61)
    7.1 Introduction
    7.2 Onshore
    7.3 Offshore
    7.4 Regional Market Analysis, By Application
           7.4.1 North America
           7.4.2 Asia-Pacific
           7.4.3 Europe
           7.4.4 South America
           7.4.5 Middle East
           7.4.6 Africa

8 Hydraulic Workover Unit Market, By Installation Type (Page No. - 73)
    8.1 Introduction
    8.2 Skid Mounted
    8.3 Trailer Mounted
    8.4 Regional Analysis
           8.4.1 North America
           8.4.2 Asia-Pacific
           8.4.3 Europe
           8.4.4 South America
           8.4.5 Middle East
           8.4.6 Africa

9 Hydraulic Workover Unit Market, By Service (Page No. - 81)
    9.1 Introduction
    9.2 Workover Services
    9.3 Snubbing Services
    9.4 Regional Analysis
           9.4.1 North America
           9.4.2 Asia-Pacific
           9.4.3 Europe
           9.4.4 South America
           9.4.5 Middle East
           9.4.6 Africa

10 Hydraulic Workover Unit Market, By Region (Page No. - 92)
     10.1 Introduction
     10.2 Regional Analysis
             10.2.1 North America
                         10.2.1.1 U.S.
                         10.2.1.2 Canada
                         10.2.1.3 Mexico
             10.2.2 Asia-Pacific
                         10.2.2.1 China
                         10.2.2.2 India
                         10.2.2.3 Rest of Asia-Pacific
             10.2.3 Europe
                         10.2.3.1 Russia
                         10.2.3.2 Norway
                         10.2.3.3 Rest of Europe
             10.2.4 South America
                         10.2.4.1 Brazil
                         10.2.4.2 Argentina
                         10.2.4.3 Rest of South America
             10.2.5 Middle East
                         10.2.5.1 Saudi Arabia
                         10.2.5.2 UAE
                         10.2.5.3 Rest of Middle East
             10.2.6 Africa
                         10.2.6.1 Egypt
                         10.2.6.2 Angola
                         10.2.6.3 Rest of Africa

11 Competitive Landscape (Page No. - 119)
     11.1 Introduction
     11.2 Growth Strategies in the Hydraulic Workover Unit Market
             11.2.1 Contracts & Agreements Lead the Way
     11.3 Competitive Situation & Trends
             11.3.1 Analysis of Market Developments
     11.4 Recent Developments
             11.4.1 Contracts & Agreements
             11.4.2 Mergers & Acquisitions
             11.4.3 Expansions
             11.4.4 Other Developments

12 Company Profiles (Page No. - 127)
(Company at a Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
     12.1 Introduction
     12.2 Halliburton Company
     12.3 Key Energy Services
     12.4 Nabors Industries Ltd.
     12.5 Superior Energy Services, Inc.
     12.6 Archer Limited
     12.7 Basic Energy Services, Inc.
     12.8 CEEM FZE
     12.9 Cudd Energy Services, Inc.
     12.10 High Arctic Energy Services Inc.
     12.11 Precision Drilling Corporation
     12.12 UMW Oil & Gas Corporation Berhad
*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 (Page No. - 156)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Introducing RT: Real Time Market Intelligence
     13.4 Available Customizations
     13.5 Related Reports


List of Tables (75 Tables)

Table 1 Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 2 Hydraulic Workover Unit Market Size, By Application, 2012-2019 ($Million)
Table 3 Onshore Hydraulic Workover Unit Market Size, By Region, 2012-2019 (Volume)
Table 4 Onshore Hydraulic Workover Unit Market Size, By Region, 2012-2019 ($Million)
Table 5 Offshore Hydraulic Workover Unit Market Size, By Region, 2012-2019 (Volume)
Table 6 Offshore Hydraulic Workover Unit Market Size, By Region, 2012-2019 ($Million)
Table 7 North America: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 8 North America: Hydraulic Workover Unit Market Size, By Application, 2012-2019 ($Million)
Table 9 Asia-Pacific: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 10 Asia-Pacific: Hydraulic Workover Unit Market Size, By Application, 2012-2019 ($Million)
Table 11 Europe: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 12 Europe: Hydraulic Workover Unit Market Size, By Application, 2012-2019 ($Million)
Table 13 South America: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 14 South America: Hydraulic Workover Unit Market Size, By Application, 2012-2019 ($Million)
Table 15 Middle East: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 16 Middle East: Hydraulic Workover Unit Market Size, By Application, 2012-2019 ($Million)
Table 17 Africa: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 18 Africa: Hydraulic Workover Unit Market Size, By Application, 2012-2019 ($Million)
Table 19 Hydraulic Workover Unit Market Size, By Installation Type, 2012-2019 (Units)
Table 20 Skid Mounted Hydraulic Workover Unit, By Region, 2012-2019 (Units)
Table 21 Trailer Mounted Hydraulic Workover Unit Market Size, By Region, 2012-2019 (Units)
Table 22 North America: Hydraulic Workover Unit Market Size, By Installation Type, 2012-2019 (Units)
Table 23 Asia-Pacific: Hydraulic Workover Unit Market Size, By Installation Type, 2012-2019 (Units)
Table 24 Europe: Hydraulic Workover Unit Market Size, By Installation Type, 2012-2019 (Units)
Table 25 South America: Hydraulic Workover Unit Market Size, By Installation Type, 2012-2019 Units)
Table 26 Middle East: Hydraulic Workover Unit Market Size, By Installation Type, 2012-2019 (Units)
Table 27 Africa: Hydraulic Workover Unit Market Size, By Installation Type, 2012-2019 (Units)
Table 28 Hydraulic Workover Unit Market Size, By Service, 2012-2019 (Volume)
Table 29 Hydraulic Workover Unit Market Size, By Service, 2012-2019 ($Million)
Table 30 Snubbing Services Market Size, By Region, 2012-2019 (Volume)
Table 31 Snubbing Services Market Size, By Region, 2012-2019 ($Million)
Table 32 Workover Services Market Size, By Region, 2012-2019 (Volume)
Table 33 Workover Services Market Size, By Region, 2012-2019 ($Million)
Table 34 North America: Hydraulic Workover Unit Market Size, By Service, 2012-2019 (Volume)
Table 35 North America: Hydraulic Workover Unit Market Size, By Service, 2012-2019 ($Million)
Table 36 Asia-Pacific: Hydraulic Workover Unit Market Size, By Service, 2012-2019 (Volume)
Table 37 Asia-Pacific: Hydraulic Workover Unit Market Size, By Service, 2012-2019 ($Million)
Table 38 Europe: Hydraulic Workover Unit Market Size, By Service, 2012-2019 (Volume)
Table 39 Europe: Hydraulic Workover Unit Market Size, By Service, 2012-2019 ($Million)
Table 40 South America: Hydraulic Workover Unit Market Size, By Service, 2012-2019 (Volume)
Table 41 South America: Hydraulic Workover Unit Market Size, By Service, 2012-2019 ($Million)
Table 42 Middle East: Hydraulic Workover Unit Market Size, By Service, 2012-2019 (Volume)
Table 43 Middle East: Hydraulic Workover Unit Market Size, By Service, 2012-2019 ($Million)
Table 44 Africa: Hydraulic Workover Unit Market Size, By Service, 2012-2019 (Volume)
Table 45 Africa: Hydraulic Workover Unit Market Size, By Service, 2012-2019 ($Million)
Table 46 Hydraulic Workover Unit Market Size, By Region, 2012-2019 (Volume)
Table 47 Hydraulic Workover Unit Market Size, By Region, 2012-2019 ($Million)
Table 48 North America Hydraulic Workover Unit Market Size, By Country, 2012-2019 (Volume)
Table 49 U.S.: Hydraulic Workover Unit Market Size, By Application, 2012-2019, (Volume)
Table 50 Canada: Hydraulic Workover Unit Market Size, By Application, 2012-2019, (Volume)
Table 51 Mexico: Hydraulic Workover Unit Market Size, By Application, 2012-2019, (Volume)
Table 52 Asia-Pacific: Hydraulic Workover Unit Market Size, By Country, 2012-2019 (Volume)
Table 53 China: Hydraulic Workover Unit Market Size, By Application, 2012-2019, (Volume)
Table 54 India: Hydraulic Workover Unit Market Size, By Application, 2012-2019, (Volume)
Table 55 Rest of Asia-Pacific: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 56 Europe Hydraulic Workover Unit Market Size, By Country, 2012-2019 (Volume)
Table 57 Russia: Hydraulic Workover Unit Market Size, By Application, 2012-2019, (Volume)
Table 58 Norway: Hydraulic Workover Unit Market Size, By Application, 2012-2019, (Volume)
Table 59 Rest of Europe: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 60 South America Hydraulic Workover Unit Market Size, By Country, 2012-2019 (Volume)
Table 61 Brazil: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 62 Argentina: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 63 Rest of South America: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 64 Middle East Hydraulic Workover Unit Market Size, By Country, 2012-2019 (Volume)
Table 65 Saudi Arabia: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 66 UAE: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 67 Rest of Middle East: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 68 Africa Hydraulic Workover Unit Market Size, By Country, 2012-2019 (Volume)
Table 69 Egypt: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 70 Angola: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 71 Rest of Africa: Hydraulic Workover Unit Market Size, By Application, 2012-2019 (Volume)
Table 72 Contracts & Agreements, 2011-2014
Table 73 Mergers & Acquisitions, 2011-2014
Table 74 Expansions, 2011-2014
Table 75 Other Developments, 2011-2014


List of Figures (52 Figures)

Figure 1 Markets Covered: Hydraulic Workover Unit Market
Figure 2 Hydraulic Workover Unit Market: Research Design
Figure 3 Increase in Oil Consumption in the Top 10 Countries (2009 & 2013)
Figure 4 Increase in Gas Consumption in the Top 10 Countries (2009 & 2013)
Figure 5 Growing Expenditure in Subsea Well Intervention
Figure 6 Bottom-Up Approach (Volume)
Figure 7 Bottom-Up Approach (Value)
Figure 8 Top-Down Approach (Volume)
Figure 9 Top-Down Approach (Value)
Figure 10 Assumptions of the Research Study
Figure 11 Limitations of the Research Study
Figure 12 Technology Has Gained Momentum Over the Years, Increasing Heavy Well Intervention Efficiency
Figure 13 Hydraulic Workover Units Occupied the Largest Market Share in North America in 2013 (Volume)
Figure 14 North America & Asia-Pacific Are Expected to Dominate the Hydraulic Workover Unit Market During the Forecast Period
Figure 15 Hydraulic Workover Unit Market Size, 2014 & 2019
Figure 16 Increase in Production From Mature Oil & Gas Wells is Set to Create Growth for the Hydraulic Workover Unit Market
Figure 17 North America is Expected to Occupy the Major Share of the Hydraulic Workover Unit Market During the Forecast Period
Figure 18 Onshore Application Held the Major Share in the Asia-Pacific Hydraulic Workover Unit Market
Figure 19 North America Accounted for Nearly Half of the Hydraulic Workover Unit Market (In Terms of Value) in 2013
Figure 20 Onshore-Based Hydraulic Workover Units Are Estimated to Occupy the Largest Market Share in North America By 2019
Figure 21 Trailer Mounted Hydraulic Workover Units Are Estimated to Occupy the Largest Market Share in North America By 2019
Figure 22 Onshore Application in Europe is Expected to Account for the Largest Market Share in 2019
Figure 23 Market Segmentation: By Application, Service, & Region
Figure 24 Increasing Energy Demand Along With Declining Oil Prices Influence the Movements in Hydraulic Workover Unit Market
Figure 25 Increasing Natural Gas Production in the U.S. : 2009-2013
Figure 26 Increase in the Crude Oil Production in Saudi Arabia : 2009-2013
Figure 27 Increasing Trend of Oil Production in UAE
Figure 28 Increase in Oil & Gas Production in Russia
Figure 29 Oil & Gas Production of Kazakhstan Has Increased Over the Years
Figure 30 Impact Analysis of Market Dynamics
Figure 31 Sudden Decline in Brent Crude Oil Prices Since Mid 2014
Figure 32 Value Chain Analysis: Hydraulic Workover Unit
Figure 33 Porter’s Five Forces Analysis: Hydraulic Workover Unit Market
Figure 34 Geographic Snapshot (2013) – Rapid Growth Markets Are Emerging As New Hot Spots
Figure 35 Companies Adopted Contracts & Agreements As the Key Growth Strategy in the Past Three Years (2011-2014)
Figure 36 Hydraulic Workover Unit: Share of Key Growth Strategies, By Development, 2011 - 2014
Figure 37 Hydraulic Workover Unit Market Share Analysis of Top Companies, By Development, 2011-2014
Figure 38 Geographical Revenue Mix of Top 4 Market Players
Figure 39 Halliburton Company: Company Snapshot
Figure 40 SWOT Analysis: Halliburton Company
Figure 41 Key Energy Services: Company Snapshot
Figure 42 SWOT Analysis: Key Energy Services
Figure 43 Nabors : Company Snapshot
Figure 44 SWOT Analysis: Nabors Industries Ltd.
Figure 45 Superior Energy Services, Inc.: Company Snapshot
Figure 46 SWOT Analysis: Superior Energy Service, Inc.
Figure 47 Archer Limited: Company Snapshot
Figure 48 Basic Energy Services, Inc.: Company Snapshot
Figure 49 Rpc, Inc.: Company Snapshot
Figure 50 High Arctic Energy Services, Inc.: Company Snapshot
Figure 51 Precision Drilling Corporation: Company Snapshot
Figure 52 UMW Oil & Gas Corporation Berhad: Company Snapshot

To meet the growing demand for energy particularly in developing countries, there is a need for increasing the need for optimal utilization of oil and gas reserves across the globe. This is evident through the ever increasing wells being drilled all over the world. Over a period of time, a well shows decline in production due to the decrease in the reservoir pressure. Depending upon the geological formation, this decline can be either gradual or steep. For the purpose of slowing down the production decline, operations such as well intervention are undertaken. With the large number of exploration and production activities taking place across the globe, the market for hydraulic workover unit is growing. The hydraulic workover unit market is estimated to reach $12.2 billion at a CAGR of 6.6% from 2014 to 2019.

Hydraulic workover unit can be utilized for the purpose of drilling, completion and workover operations on a well. Along with this, the low space requirement for the hydraulic workover unit makes it suitable for operations in remote locations and on satellite wells. The remediation and optimal utilization of existing wells aids in the economic recovery thus increasing profit for the companies. To this intent, hydraulic workover is useful as it facilitates the undertaking of heavy well intervention which requires lifting heavy loads. Such loads are generally too heavy for coiled tubing units to handle while hydraulic workover units can perform such operations easily, efficiently, and quickly. Apart from this, hydraulic workover units can be applied to all the three phases of well i.e. drilling, completion, and workover. Workover operations provide improved well performance in the maturing fields while enhancing the well life.

Potential increase in recoverable resources and maturation of the old fields has resulted in the increase of the workover services pushing the market up to several billions in the last decade. The demand of such services is high in the developing countries like Indonesia, China due to the high number of mature fields complemented by the increase in the drilling activities in these countries. Hydraulic workover units cater to both onshore and offshore well development.

The North American is the largest market for hydraulic workover units, owing to the increased E&P activities. The Middle East, Africa and Asia-Pacific regions are other attractive markets for the hydraulic workover unit market.

Hydraulic Workover Units Market Share, By Services, 2019

Hydraulic Workover Units Market

Currently, the use of hydraulic workover units is generally for workover purposes as compared to snubbing services. This dominance is seen mainly due to relatively low cost of workover operations as compared to the snubbing operations. This trend is also supported by the continuous and large increment in the U.S. E&P activities. The snubbing services find major usage in North America due to large number of hydraulic fracturing activities in the region.

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