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Hydraulic workover - PowerPoint PPT Presentation

Attractive Market Opportunities in the Hydraulic Workover Unit Market

The increase in demand and supply gap worldwide in energy sector has increased the drilling activities around the globe which has finally increased the usage of hydraulic workover unit market. Hydraulic workover unit can be used to install or remove tubular in or out of well which has zero surface pressure, mud or heavy fluid in the wellbore. The volume based market is projected to grow with a CAGR of 6.2% between 2014 and 2019.Increasing deepwater discoveries, commissioning of new oil refineries, increased in the mature fields and the increased in shale gas production in the North America along with China and Australia has increased the demand for hydraulic workover unit in the countries.

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Hydraulic Workover Unit Market worth $12.0 billion by 2024

The global hydraulic workover unit market is projected to reach a size of USD 12.0 billion by 2024, at a CAGR of 3.97%, from an estimated USD 9.8 billion in 2019. This growth can be attributed to the upsurge in oil and gas production after decline in oil prices.

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Hydraulic workover - PowerPoint PPT Presentation

Attractive Market Opportunities in the Hydraulic Workover Unit Market

Hydraulic Workover Unit Market worth $12.0 billion by 2024