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.
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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.
The oil & gas industry witnesses high
number of the E&P activities every year which is undertaken to meet the
growing global energy demand.
Hydraulic workover units form an integral part of
the well lifecycle and can be used on the drilling, completion and workover
phases. It provides increased lifting capacity during well intervention
operations which cannot be performed using either a wireline or a coiled tubing
unit.
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