High-Speed Engine Market worth $27.1 Billion by 2026

High-Speed Engine Market
The global High-Speed Engine Market is projected to reach USD 27.1 billion by 2026 from an estimated USD 21.1 billion in 2021, at a CAGR of 5.1% during the forecast period. Rising demand for reliable and uninterrupted power, growth in international marine freight transport, and growth in maritime tourism are the major drivers of the High-Speed Engine Markets. Increased demand for backup power...

Intelligent Completion Market to Hit $2.16 Billion by 2023

Intelligent Completion Market
The global Intelligent Completion Market is expected to grow from an estimated USD 1.61 billion in 2018 to USD 2.16 billion by 2023, at a CAGR of 6.05%, from 2018 to 2023. The market in Europe is estimated to be the largest for intelligent completion followed by the North American market in 2017. This trend is expected to continue till 2023. The growth of the intelligent completion market...

Gas Turbine Market Growth is Driven by Rising Demand for Power Generation

Gas Turbine Market
The global Gas Turbine Market is expected to grow from an estimated USD 18.9 Billion in 2021 to USD 22.5 Billion by 2026, at a CAGR of 3.6% during the forecast period, owing to an increase in demand of gas turbines in power generation. However, they are also used for mechanical drive purposes and in jet engines. Power generation segment is expected to lead the gas turbine market  The increase...

Artificial Lift Market worth $8.7 Billion by 2027

Artificial Lift Market
The global Artificial Lift Market is projected to grow from USD 6.9 billion in 2022 to USD 8.7 billion by 2027, at a CAGR of 4.8% according to a new report by MarketsandMarkets™. The market has promising growth potential due to the rising global oil demand and the increasing demand to maximize production from maturing oil & gas fields and new discoveries, especially in the North American region. The...

Gas Turbine Market Expected to Reach $22.5 Billion by 2026

Gas Turbine Market
The global Gas Turbine Marketis expected to grow from an estimated USD 18.9 Billion in 2021 to USD 22.5 Billion by 2026, at a CAGR of 3.6% during the forecast period, owing to an increase in demand of gas turbines in power generation. However, they are also used for mechanical drive purposes and in jet engines. Power generation segment is expected to lead the gas turbine market  The...

Hydraulic Workover Unit Market Expected to Grow $11.0 Billion by 2025

Hydraulic Workover Unit Market
The global Hydraulic Workover Unit Market size will grow to USD 11.0 billion by 2025 from USD 8.1 billion in 2020, at a CAGR of 6.3% during the forecast period. The rising number of mature fields in Europe and the Middle East, along with rising primary energy demand from the Asia Pacific, are the driving factors for the Hydraulic Workover Unit Market globally. The hydraulic workover unit activities...

Pump Jack Market to exceed $3.63 Billion by 2022

Pump Jack Market
The global pump jack market is expected to grow from an estimated $2.86 billion in 2017 to $3.63 billion by 2022, at a CAGR of 4.88% from 2017 to 2022. The market in North America is estimated to be the largest market for pump jack, followed by the market in Asia-Pacific. The North American market is also projected to be the fastest growing market during the forecast period. Increasing onshore...

Turboexpander Market Expected to Reach 390.8 Million by 2023

The global Turboexpander Market is expected to grow from an estimated USD 290.6 Million in 2018 to USD 390.8 Million by 2023, at a CAGR of 6.11%, from 2018 to 2023. North America is estimated to be the largest for turboexpanders, followed by the market in Asia Pacific. The trend is expected to change, with Asia Pacific leading the turboexpander market in 2023.  The turboexpander market...

Perforating Gun Market Surge Towards Outstanding Growth by 2027

Perforating Gun Market
The global perforating gun market is projected to reach USD 1.4 billion by 2027 from an estimated market size of USD 1.1 billion in 2022, at a CAGR of 5.6% during the forecast period. The factors driving the growth of Perforating Gun Market are rising exploration and production of unconventional oil & gas resources, especially in the North American region. Tubing conveyed perforation system: The...

Offshore Decommissioning Market Booming Worldwide with Strong Growth in Near Future

Offshore Decommissioning Market
The global offshore decommissioning market size is expected to grow from an estimated USD 5.2 billion in 2021 to USD 8.0 billion by 2027, at a CAGR of 7.4%. Aging offshore oil & gas infrastructure and maturing fields are driving the offshore decommissioning industry. Low oil prices of the past couple of years have made it even more difficult to maintain low production mature reserves, driving...