Land top drives are mechanical devices which are mounted on the drilling rig. The land top drives provide clockwise torque to the driller string to drill a borehole on the land. The land top drives generally located at the swivel's place below the traveling block and it moves vertically. With the help of the land top drives, the drilling rigs can drill the longer section of the drill pipes in a single operation. The land top drives can be used on both offshore and onshore rigs for the drilling. The land top drives can be used in any environment and any type of rigs, furthermore it can also be mounted on the trucks.

Market Analysis and Insights: Global Land Top Drive Market

Due to the COVID-19 pandemic, the global Land Top Drive market size is estimated to be worth US$ million in 2022 and is forecast to a readjusted size of US$ million by 2028 with a CAGR of % during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Hydraulic Land Top Drives accounting for % of the Land Top Drive global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Onshore segment is altered to an % CAGR throughout this forecast period.

North America Land Top Drive market is estimated at US$ million in 2021, while Europe is forecast to reach US$ million by 2028. The proportion of the North America is % in 2021, while Europe percentage is %, and it is predicted that Europe share will reach % in 2028, trailing a CAGR of % through the analysis period 2022-2028. As for the Asia, the notable markets are Japan and South Korea, CAGR is % and % respectively for the next 6-year period.

The global major manufacturers of Land Top Drive include Drillmec, Nabors Industries Ltd., National Oilwell Varco, MHWirth, KAT INDUSTRIES, INC., Schlumberger Limited., Henderson Rigs & Equipment, LLC, Warrior Rig Technologies Limited and Global Drilling Support and etc. In terms of revenue, the global 3 largest players have a % market share of Land Top Drive in 2021.

Global Land Top Drive Market: Drivers and Restrains

The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.

A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

Global Land Top Drive Market: Segment Analysis

The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.


Segment by Type


Hydraulic Land Top Drives

Electric Land Top Drives

Mechanical Land Top Drives


Segment by Application


Onshore

Offshore


By Company


Drillmec

Nabors Industries Ltd.

National Oilwell Varco

MHWirth

KAT INDUSTRIES, INC.

Schlumberger Limited.

Henderson Rigs & Equipment, LLC

Warrior Rig Technologies Limited

Global Drilling Support

Herrenknecht Vertical GmbH


Production by Region



North America

Europe

China

Japan


Consumption by Region


North America

United States

Canada

Europe

Germany

France

U.K.

Italy

Russia

Asia-Pacific

China

Japan

South Korea

India

Australia

China Taiwan

Indonesia

Thailand

Malaysia

Latin America

Mexico

Brazil

Argentina