New York, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Power Slip Lifter Market By Type, By Bushing, By Location, By Holding Component, By Region, Forecast and Opportunities, 2017-2027" - https://www.reportlinker.com/p06320924/?utm_source=GNW
The global power slip lifter market is expected to grow at a significant rate during the forecast period, 2023-2027.The market growth can be attributed to the rising need for safety measures at the oil drilling sites.
Besides, surge in demand for better and efficient drilling equipment, and rig pipe handling system is expected to boost the growth of the global power slip lifter market in the coming years.
Power slip lifters are pipe handling systems that are capable of lifting drill-collar slips, casing slips, drill pipe slips, and so on into and out of the rotating table.The lifter is applicable to both pneumatic and hydraulic systems.
The system is frequently operated using a remote or operating valve that initiates the lifting and delivering functions without any human intervention, limiting the possibility of unintentional slips, injuries, and other safety hazards. Power slip lifters are designed to set faster and enable self-centering in bushings, hence reducing tool misuse and increasing equipment life by reducing wear and tear that may occur during manhandling.
Oil rigs and drilling sites are high-risk areas for accidents due to a variety of factors such as oil leaks, improper management of drilling equipment, inadvertent wear and tear of pipe handling systems, fires, and so on.The loss suffered as a result of oil leakage, improper equipment handling, and prolonged exposure is far too great.
As a result, special safety precautions for equipment handling and employees are in high demand.Growing worries about commodities and human life losses are driving the expansion of the global power slip lifter market during the next five years.
Moreover, rapidly increasing demand for the oil and petroleum products from various end-use industries is also expected to drive the growth of the global power slip lifter market in the coming five years.
The global power slip lifter market is segmented on the basis of type, bushing, location, holding component, regional distribution, and competitive landscape.Based on type, the market is divided between hydraulic and pneumatic.
The hydraulic segment is expected to hold the largest share in the global power slip lifter market owing to the rising offshore oil drilling sites across the world.
Market players operating in the global power slip lifter market are Imenco Smart Solutions, Weatherford International, Forum Energy Technologies Inc., Janki Oil Tools, Keystone Energy Tools, Den•Con Tool Co., are enlisted in a partial list of major market players of the global power slip lifter market.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023–2027
Objective of the Study:
• To analyze the historical growth in the market size of the global power slip lifter market from 2017 to 2021.
• To estimate and forecast the market size of global power slip lifter market from 2022 to 2027 and growth rate until 2027.
• To classify and forecast the global power slip lifter market based on type, bushing, location, holding component, region, and company.
• To identify the dominant region or segment in the global power slip lifter market.
• To identify drivers and challenges for the global power slip lifter market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global power slip lifter market.
• To identify and analyze the profiles of leading players operating in the global power slip lifter market.
• To identify key sustainable strategies adopted by market players in global power slip lifter market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the country.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers who could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels, and presence of all major players across the country.
The analyst calculated the market size of the Global power slip lifter market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums, and alliances
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global power slip lifter market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Power Slip Lifter Market, By Type:
o Hydraulic
o Pneumatic
• Power Slip Lifter Market, By Bushing:
o Casing Bushing
o Master Bushing
• Power Slip Lifter Market, By Location:
o Offshore
o Onshore
• Power Slip Lifter Market, By Holding Component:
o Drill Pipe Slips
o Drill Collar Slips
o Casing Slips
o Others
• Power Slip Lifter Market, By Region:
o North America
United States
Mexico
Canada
o Europe
France
Germany
United Kingdom
Italy
Spain
Poland
Denmark
o Asia-Pacific
China
India
Japan
South Korea
Australia
Singapore
Malaysia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Iraq
Turkey
o South America
Brazil
Argentina
Colombia
Peru
Chile
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global power slip lifter market.
Available Customizations:
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06320924/?utm_source=GNW
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