Global Positive Displacement Motor Market - Introduction
- Positive displacement motors are primarily used for directional drilling
- These motors are utilized to convert the liquid fuel flow inside the equipment into rotational energy in order to power the drill bits at high rpm
Global Positive Displacement Motor Market - Dynamics
- Rising usage of liquid fuel is considered to be a key factor driving the positive displacement motor market.
- Rapid rise in urbanization and industrialization in developing countries boosts the consumption of liquid fuel. Major oil & gas companies have expanded their production through exploration & production (E&P) activities in new and existing oil & gas production sites in order to cater to the rising demand across different end-user sector in the market.
- Increase in deepwater and ultra-deepwater exploration activities drive the investments for offshore drilling and consequently, boost the positive displacement motor market
- Moreover, increasing demand for liquid fuel has augmented the demand for upstream oil & gas drilling activities. This is expected to drive the demand for positive displacement motor for offshore and directional drilling and thereby propel the positive displacement motor market.
- Furthermore, emergence of IoT (internet of things) applications in the oil & gas industry is another key trend that is estimated to boost the positive displacement motor market in the near future
- Automation technologies are increasingly being applied to several operations in the drilling process in order to enhance process efficiency. Real-time data acquisition, wireless communication, sensors, GPS, and innovations are being incorporated in drilling equipment.
- Integration of IoT enhances the recovery of hydrocarbons available in the reserve, by minimizing the chances of risks and uncertainties in the process
- This is expected to improve the accuracy of E&P activities for oil & gas companies by providing better data and decision-making abilities.
- Volatility in crude oil prices is hindering the positive displacement motor market
- Decline in crude oil import price is expected to adversely impact several upstream companies and thereby, restrain the positive displacement motor market in the next few years.
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Global Positive Displacement Motor Market: Segmentation Analysis
- In terms of application, the positive displacement motor market can be bifurcated into onshore and offshore
- The onshore segment accounted for a leading share of the positive displacement motor market, while the offshore application segment is projected to expand significantly in positive displacement motor market in the near future
North America to Lead Global Market for Positive Displacement Motor
- In terms of region, the global positive displacement motor market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is likely to dominate the global positive displacement motor market from 2019 to 2027, followed by Asia Pacific and Europe. Increasing usage of liquid fuel due to industrialization and urbanization in the U.S. drives the positive displacement motor market in North America.
- The market in Asia Pacific is anticipated to expand significantly in the near future. The liquid fuel industry in countries in Asia, such as China and India, is expanding significantly, which in turn is estimated to drive the demand for positive displacement motor, and consequently, boost the positive displacement motor market in the region.
Key Manufacturers Operating in Market
The global positive displacement motor market was highly fragmented in 2018, owing to the presence of several small- and large-scale established market players who hold a prominent market share. The market is in growth phase; however, the market competition is expected to become less intense by the end of the forecast period. Manufacturers of positive displacement motors are focused on product development and adoption of advanced technologies to produce innovative products in order to cater to the changing needs of end-users. Key manufacturers operating in the global market are:
- Halliburton Company
- Nabors Industries
- Schlumberger Limited
- MATRRIX Energy Technologies Inc.
- Weatherford International plc
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Global Positive Displacement Motor Market: Research Scope
Global Positive Displacement Motor Market, by Application
Global Positive Displacement Motor Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.