Top Drive Systems Market: Overview
Top
drive is a mechanical system on a drilling rig that simplifies drilling of
borehole for extraction of petroleum, gases and water. Top drive systems are
used for mineral exploration, underground storage of unwanted substances, environmental
site assessment, geothermal installation, geotechnical investigation and
temperature measurement for installing underground utilities. Different
components of top drive systems are body (pipe handling system, slurry
circulating passage and power swivel), guide rail and block, hydraulic drive,
electric drive and control system.
Top
drive systems are more favorable than traditional Kelly drive systems as they
save time and provide efficiency of drilling operation. The characteristics
that make top drive systems popular than traditional Kelly systems are safer
drilling operation, back reaming, reduction possibility of stuck pipe incidents
and detachable connections.
Top
Drive Systems Market: Drivers and Restraints
The
major driving factors for global top drive systems market growth are rise in
number of drilling rigs, drilling activities and increase in exploration
activities. The other factors contributing to the growth of top drive systems
market are rise in demand for oil rigs, increase in energy consumption and
emerging technologies for extraction of natural resources. Moreover, use of top
drive systems for on-shore and off-shore purpose and safety concerns also
boosting the growth of top drive systems market. Its machinery reduces
substantial time of drilling operation making it suitable for broad adoption in
applications such as land drills, ocean drills and offshore drills.
However,
development of unconventional reserves, political issues, technological incompetence,
environmental concerns and oil spills could restrain the growth of global top
drive market.
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Top Drive Systems Market: Segmentation
The
global top drive systems market is segmented on the basis of technology,
application, design of vessel and the geography. On the basis of technology,
the global top drive systems market is segmented as hydraulic top driver
systems and electric top driver systems. The hydraulic top drive systems
technology is appropriate for complicated working conditions as it has the
ability to resist sand storm, pollution and huge temperature variation. The
electric top drive systems are further categorized on the basis of control type
into one-to-one, many-to-one, one-to-many and many-to-many control methods.
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