Future of Hydraulic Workover & Snubbing Market

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.

Solid oxide fuel cells Market Trends | potentially long life expectancy (4000-8000hr)

Solid oxide fuel cells (SOFCs) are best for stationary power. It uses a solid ceramic as the electrolyte and utilizes hydrocarbons and CO as fuel. 
  

These cells operate at a very high temperature, which allows the use of non-precious metal as a catalyst. SOFCs don’t contain any noble metals that could be problematic in resource availability and price issue in high volume manufacture. These cells have extremely low emission of carbon monoxide.

The report “Solid Oxide Fuel Cells (SOFCs) Market Forecast 2014-2019”, analyses the market in terms of geography. In terms of geography, the segmentation of the market covers North America, Europe, Asia, and Rest of the world.

Middle East Oilfield Equipment Rental Market

Increase in the number of drilling activities worldwide, due to rising demand of energy, is the key driving force for growth of the oilfield equipment market.

Growth in the Middle East oilfield equipment rental market is attributed to the technological advancements in the oilfield equipment segment. Traditional equipment is not fully capable of meeting new challenges hence the petroleum industry is looking out for advanced IT based machinery and software to perform operations in various unconventional and deep reservoir locations. 

With the advent of new trends in deep-water drilling in the oil industry, profits are huge, despite low output from shallow wells.

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Top market players that have established their base in the Middle East oilfield equipment rental market are Weatherford International Ltd. (Ireland), Oil States International (U.S.), Superior Energy Services Inc. (U.S.), and Schlumberger (U.S.).