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A $10.8 Billion Global Opportunity for Hydraulic Workover Units by 2026 – New Research from StrategyR

Date:

FACTS AT A GLANCE
Edition: 4; Released: April 2021
Executive Pool: 762
Companies: 42 – Players covered include Archer Limited; Basic Energy Services, Inc.; Canadian Energy Equipment Manufacturing FZE; Cudd Energy Services, Inc.; Halliburton Company; High Arctic Energy Services Inc.; Key Energy Services, Inc.; Nabors Industries Ltd.; National Oilwell Varco; Precision Drilling Corporation; Superior Energy Services, Inc.; UMW Oil & Gas Corporation Berhad and Others.
Coverage: All major geographies and key segments
Segments: Service (Workover, Snubbing); Application (Onshore, Offshore)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Hydraulic Workover Units Market to Reach $10.8 Billion by 2026
Amid the COVID-19 crisis, the global market for Hydraulic Workover Units estimated at US$7.9 Billion in the year 2020, is projected to reach a revised size of US$10.8 Billion by 2026, growing at a CAGR of 5.1% over the analysis period. Workover, one of the segments analyzed in the report, is projected to record a 5.5% CAGR and reach US$6.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Snubbing segment is readjusted to a revised 4.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $2.3 Billion in 2021, While China is Forecast to Reach $2.2 Billion by 2026
The Hydraulic Workover Units market in the U.S. is estimated at US$2.3 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.2 Billion by the year 2026 trailing a CAGR of 7.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR. More

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About Global Industry Analysts, Inc. & StrategyR
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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Source: https://www.prnewswire.com:443/news-releases/a-10-8-billion-global-opportunity-for-hydraulic-workover-units-by-2026—new-research-from-strategyr-301382873.html

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