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Global Electric & Hydraulic Wellhead Drives for Onshore Application Share and Forecast to 2028
The global electric & hydraulic wellhead drives for onshore application market was estimated to be around US$ 111.7 million in 2018, and is expected to register a CAGR of 8.4% over the forecast period (2019–2028).


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BriefingWire.com, 1/14/2019 - A new report titled “Global Electric & Hydraulic Wellhead Drives for Onshore Application Market Covering Trends, Share and Forecast to 2028” has been included in the enormous research repository of Market Research Reports Search Engine (MRRSE) that compiles various facets of the Electric & Hydraulic Wellhead Drives for Onshore Application Market at a global level portraying a holistic analysis of the marketplace along with intelligence on key participants. The report covers an unbiased analysis on various market aspects, emphasizing major trends giving direction to the market, key opportunities paving new growth avenues, key drivers pushing the market’s growth and challenges and restraints hindering the market for Electric & Hydraulic Wellhead Drives for Onshore Application Market across the globe.

To Get Sample Copy of Report Click here @ www.mrrse.com/sample/16967

The global electric & hydraulic wellhead drives for onshore application market was estimated to be around US$ 111.7 million in 2018, and is expected to register a CAGR of 8.4% over the forecast period (2019–2028).

It is estimated that the count of onshore wells will increase to cope up with the increasing demand for oil & gas from various end-use sectors, which in turn is expected to have a positive effect on the growth of the electric & hydraulic wellhead drives market as these wellheads are majorly used for onshore oil production. Although the number of wells is estimated to grow slowly and steadily—rising from 59,000 in 2015 to over 69,000 by 2021 end—the sale of electric & hydraulic wellhead drives is expected to increase at a significant rate due to growing application of PCP systems to pump out water and oil. In shallow wells, relatively more number of PCP systems are used in comparison to deep wells, which is consequently expected to increase the sale of electric & hydraulic wellhead drives.

The replacement rate of electric & hydraulic wellhead drives is usually between 7 and 10 years, which means that end-use companies replace electric & hydraulic wellhead drives after every 7–10 years. This restricts the new unit sales of electric & hydraulic wellhead drives.

The global electric & hydraulic wellhead drives for onshore application market was estimated to be around US$ 111.7 million in 2018, and is expected to register a CAGR of 8.4% over the forecast period (2019–2028).

The replacement rate of electric & hydraulic wellhead drives is usually between 7 and 10 years, which means that end-use companies replace electric & hydraulic wellhead drives after every 7–10 years. This restricts the new unit sales of electric & hydraulic wellhead drives.

Browse Complete Report with TOC @ www.mrrse.com/electric-hydraulic-wellhead-drives-onshore-application-market

The major players involved in the electric & hydraulic wellhead drives for onshore application market particularly emphasise on acquisitions and expansion in order to enhance their operational efficiency and product portfolio. Besides, strategic collaborations and joint ventures is expected to improve the sale & distribution network and gain momentum during the forecast period.

 
 
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