COVID-19 Impact on Power Slip Lifter Market

  • The COVID-19 outbreak is hampering the power slip lifter demand in many applications. To curb the spread of coronavirus, many governments across the globe enforced lockdown measures. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown, which are hampering the demand for power slip lifters.
  • Key players operating in the power slip lifter market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these players have spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic.
  • The COVID-19 outbreak has directly affected the production and demand for power slip lifters. The industrial shutdown caused by the COVID 19 pandemic has created disruption in the supply chain. Disruption in supply of raw materials is projected to hamper full-scale operations of companies operating in the market.

Key Drivers of Power Slip Lifter Market

  • Increasing demand for infrastructure and strict environmental norms and regulations are key factors driving the power slip lifter market. Government regulations mandate certain standards and waterproofing materials to be followed in major parts of the world. Some countries in Europe follow the roofing standards. These standards play a vital role in prompting consumers to prefer power slip lifters. Increasing investments in the commercial construction sector of emerging countries such as India and Indonesia is expected to boost the power slip lifter market.
  • Rise in usage of power slip lifter in construction applications is expected to boost the market during the forecast period. Power slip lifter is widely used in residential and non-residential construction projects.

Restraints of Power Slip Lifter Market

  • The key restraining factor in the power slip lifter market is the fluctuating price of raw materials. Instability in raw material prices can restrict the growth of the power slip lifter market. In addition, substitutes developed due to research and development can hamper the market growth during the forecast period.

Asia Pacific to Constitute Significant Share of Global Power Slip Lifter Market

  • In terms of region, the global power slip lifter market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is one of the key consumers of power slip lifters. The market in the region is anticipated to expand at a faster pace than that in other regions during the forecast period. Expansion of the construction industry is expected to drive the power slip lifter market in Asia Pacific during the forecast period.

Competitive Landscape of Global Power Slip Lifter Market

Major players operating in the global power slip lifter market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. The market is currently witnessing fierce competition among several leading players. Key players operating in the market include:

  • Weatherford International
  • Imenco Smart Solutions
  • Janki Oil Instruments
  • Keystone Power Instruments
  • Forum Energy Technologies Inc
  • Applied Technologies Inc

Global Power Slip Lifter Market: Research Scope

Global Power Slip Lifter Market, by Type

  • Hydraulic
  • Pneumatic

Global Power Slip Lifter Market, by Bushing

  • Casing Bushing
  • Master Bushing

Global Power Slip Lifter Market, by Location

  • Offshore
  • Onshore

Global Power Slip Lifter Market, by Holding Component

  • Drill Pipe Slips
  • Drill Collar Slips
  • Casing Slips
  • Others

Global Power Slip Lifter Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Power Slip Lifter Market Introduction

  • Power slip lifters are pipe handling systems that can lift drill collar slips, casing slips, drill pipe slips, and other types of slips into and out of the rotary table. Both pneumatic and hydraulic systems use the lifter. The system is frequently controlled by a distant or operation valve, which initiates the lifting and delivering functions without requiring any human interaction, reducing the risk of accidental slips, injuries, and other safety hazards. Power slip lifters are designed to set faster and provide self-centering in the bushing, reduce tool mishandling, and increase equipment life by preventing wear-and-tear that can occur during moving.
  • Power slip lifter benefit drilling crews looking to cut costs. Hydraulic and air-powered models save time and money while improving safety. Reduced downtime improves the drilling project's overall efficiency.

This upcoming business intelligence report is intended to be a one-stop market research solution to guide organizations in taking timely and effective decisions for their business growth. The ongoing study is the culmination of our deep expertise on data science methods, combined with an unparalleled understanding of the external environment and analysis of the industries. Each of the reports by TMR aims at offering a detailed scrutiny of the value chain of our current and prospective customers, takes them from identifying value propositions, and subsequently assist their business executives to implement right strategies to create customer value. We believe that creating and sustaining the customer value is the key pivot on which business executives can create profits for their organizations and increase the market shares, continuously and with sustainability.

Each of our touchpoints through which we engage with the organization/enterprise during the primary research enables us to understand the internal environment it operates in and the ways in which the external environment influences its growth.

Always Evolving with Competition

Excellence is built into the DNA of TMR, and all our teams work collaboratively and committedly toward achieving that in whatever they do. From the very first interaction our teams of research analysts have with any interested market participant to the final preparation processes in each of our reports reflects a rigorous understanding of the dynamic industry environment that businesses operate in.

We relentlessly work to be a differentiator in whatever we do in the current era of hypercompetitive global environment. The result of our unceasing focus on excellence is reflected clearly in the insights and guidance we offer to our customers in order to empower them to create brand equity. Our simple yet very powerful underpinning for navigating the competition is to always keep evolving with changing business environments. Our close-kinit team of research analysts not only believe in this simple philosophy but also implement the same.

Constantly Innovating Our Research Methodologies and Models

We do not limit with any specific market research tool or one standard approach for obtaining or analyzing data. Undoubtedly, our report making process is ever-evolving to meet the customer needs and demands supported broadly by a vast knowledge of data science methods that we combine with business acumen our teams have built upon for several years. Evidently, our primary and secondary research data about customers and consumers have shown that we can go to any lengths to obtain them. This is followed by applying next-gen automation tools integrated with human judgement to clear the clutter, ascertain the most relevant and recent qualitative and quantitative insights, and package them in digestible chunks in our reports for our customers.

We Take Pride in No-One-Size-Fits-All Approach

Over the past several years, we have been conducting market intelligence studies across all industries for all types of organizations — big and small, profit and not-for-profit, and Fortune 500 and Unicorns, as we believe that a sound decision making must be based on no-one-size-fits-all approach. Without doubt, each of the organizations regardless of the industry they are in are affected differently by changes in political, economic, socio-culture, legal, ecological, and legal environments. The research models and the value chain analysis process that our analysts employ for conducting the study uphold this approach.

We look at myriad components of internal and external business environment affecting the growth strategies of organizations. Some of the broader aspects that we focus on are:

  • Our team of Analysts and Support Teams always strive to see the bigger picture in life cycle stages of any industry
  • The Teams focus on obtaining valuable insights into different models of competitive advantage while making an internal environment analysis
  • They keep on modifying the value chain analysis processes of organizations to understand on how customer value is created

Some areas of assessing market dynamics that are used in the research models and methodologies adopted by our analysts can be summarized as:

  • Corporate and business strategies underlying new brand positioning strategies
  • Mapping for strategic planning for business units
  • Various metrics for business portfolio analysis, including BCG matrix
  • Value chain analysis

These will help create and sustain competitive advantage for our prospects and current customers.

Key focus areas and agenda that underpin and catalyze our primary and secondary research initiatives and endeavors are:

  • What are some of the core competencies and distinctive competencies of new entrants and established players in the industry we are analyzing?
  • What are some of the branding opportunities that are emerging at a rapid pace?
  • What are the major competitive forces and elements of external environment shaping the industry life cycle stages of most organizations?
  • Why some competitive strategies are popular than others among leaders in a certain market?
  • What customer-based brand equity strategies companies have leveraged in a certain industry or set of related industries in a sector?
  • What are some of the key pricing strategies that companies in an industry are implementing for marketing their products internationally?
  • Identifying whether market-push or market-pull strategies are more relevant to a certain product or a service?

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Power Slip Lifter Market