Global AC VFD Top Drive System Market Growth 2023-2029

Global AC VFD Top Drive System Market Growth 2023-2029

The global AC VFD Top Drive System market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

The top drive system market demand is closely related to upstream oil extraction. It is expected that the increase in global oil and gas exploration and drilling activities, unconventional oil field development and directional drilling will contribute to the growth of the top drive system market in the next few years.

The top drive drilling system is a new type of drilling technology emerging in the 1980s. It is a major breakthrough in rotary drilling technology and is a new type of oil drilling device used to replace the top drive device of the rotary table. Because it significantly improves the ability and efficiency of drilling operations, it is known as one of the three major technical achievements of modern drilling equipment. It has been highly valued by oil companies around the world and has become a representative of advanced oil drilling equipment. The top drive drilling system has been widely promoted and applied on various offshore and onshore drilling rigs, and the technology has developed rapidly. Based on the AC-SCR-DC electric drive, the top drive drilling unit has developed a more advanced AC variable frequency electric drive top drive. AC frequency conversion top drive drilling device is usually composed of body, electrical drive and control system, adopts AC frequency conversion drive mode, it directly rotates the drill pipe from the upper space of the derrick, sends it down along the special guide rail, and completes various drilling operations. AC variable frequency electric top drive is mainly used on large onshore drilling rigs or offshore drilling rigs.

LPI (LP Information)' newest research report, the “AC VFD Top Drive System Industry Forecast” looks at past sales and reviews total world AC VFD Top Drive System sales in 2022, providing a comprehensive analysis by region and market sector of projected AC VFD Top Drive System sales for 2023 through 2029. With AC VFD Top Drive System sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world AC VFD Top Drive System industry.

This Insight Report provides a comprehensive analysis of the global AC VFD Top Drive System landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on AC VFD Top Drive System portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global AC VFD Top Drive System market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for AC VFD Top Drive System and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global AC VFD Top Drive System.

This report presents a comprehensive overview, market shares, and growth opportunities of AC VFD Top Drive System market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Nominal Drilling Depth: below 5000m
Nominal Drilling Depth: 5000m-10000m
Nominal Drilling Depth: above 10000m

Segmentation by application
Onshore Drilling
Offshore Drilling

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Ganergy Heavy Industry
ZPEC
Beijing BOMCO Offshore Engineering Technology
NOV
Bentec
SLB
Drillmec
TPEC
Nabors Industries
AXON Energy Services

Key Questions Addressed in this Report

What is the 10-year outlook for the global AC VFD Top Drive System market?

What factors are driving AC VFD Top Drive System market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do AC VFD Top Drive System market opportunities vary by end market size?

How does AC VFD Top Drive System break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.