LONDON--(BUSINESS WIRE)--Nov 4, 2020--

According to the latest report published by Technavio, the oilfield traveling blocks market size is poised to grow by USD 1.35 million during 2020-2024, progressing at a CAGR of over 2% during the forecast period.

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Technavio has announced its latest market research report titled Global Oilfield Traveling Blocks Market 2020-2024 (Graphic: Business Wire)

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment facing direct and indirect COVID-19 impact.

To learn more about the global trends impacting the future of market research, download a free sample now

Market Competitive Analysis:

The market is fragmented due to the presence of several oilfield traveling blocks manufacturing companies. Akastor ASA, Alco Inc., and American Block Inc. are some of the major market participants.

  • Although the increasing active rig count will offer immense growth opportunities, the competition from other energy sources will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
  • To help clients improve their market position, this oilfield traveling blocks market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies.
  • The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this oilfield traveling blocks market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.

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This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Akastor ASA
  • Alco Inc.
  • American Block Inc.
  • Bentec GmbH Drilling and Oilfield Systems
  • Lee C. Moore, A Woolslayer Co.
  • National Oilwell Varco Inc.
  • Prospering International Inc.
  • Sunnda Corp.
  • The Crosby Group LLC
  • Yantai Jereh Oilfield Services Group Co. Ltd.

Global Oilfield Traveling Blocks Market: COVID-19 Impact Analysis

Market Impact:

As the business impact of COVID-19 spreads, the global oilfield traveling blocks market 2020-2024 is expected to have negative and inferior growth.

Industry Impact:

The energy industry is expected to have a negative impact due to the spread of the COVID-19 virus. The energy market will have an indirect impact due to the spread. Even if the spread of the virus is contained, we expect that it may take more than two quarters (six months) to reach a normal state of economic activity.

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Key Highlights of the Report for 2020-2024:

  • CAGR of the market during the forecast period 2019-2024
  • Detailed information on factors that will drive oilfield traveling blocks market growth during the next five years
  • Precise estimation of the oilfield traveling blocks market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in market dynamics
  • The growth of the oilfield traveling blocks market industry across North America, MEA, APAC, Europe, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of oilfield traveling blocks market vendors

Download a free sample of the report with COVID-19 crisis and recovery analysis.

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Onshore - Market size and forecast 2019-2024
  • Offshore - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Competitive scenario
  • Vendor Landscape
  • Landscape disruption
  • Industry risks

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Akastor ASA
  • Alco Inc.
  • American Block Inc.
  • Bentec GmbH Drilling and Oilfield Systems
  • National Oilwell Varco Inc.
  • Prospering International Inc.
  • Sunnda Corp.
  • The Crosby Group LLC
  • Yantai Jereh Oilfield Services Group Co. Ltd.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201104005287/en/

CONTACT: Technavio Research

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Website:www.technavio.com/

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SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 11/04/2020 12:00 PM/DISC: 11/04/2020 12:01 PM

http://www.businesswire.com/news/home/20201104005287/en

Copyright Business Wire 2020.

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