NS Energy is using cookies
We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.
ContinueLearn More X
We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.
ContinueLearn More X
Press
Release
Transparency Market Research, New York: The global geothermal drilling rig market was valued at US$ 122 Mn in 2019 and is anticipated to expand at a CAGR of 4.5% during the forecast period. In terms of drill bit, the roller cutting bit segment accounted for a major share of the global geothermal drilling rig market in 2019. Roller cutting bits offer several properties such as reduced bit trips, continuous drilling in high-temperature environments, and improved drilling economics with patented metal-face seals. This is expected to boost the roller cutting bit segment of the geothermal drilling rig market in the near future.
Request for Covid-19 Impact Analysis on Geothermal Drilling Rig Market: https://www.transparencymarketresearch.com/Covid19.php
In terms of horsepower, the above 900 HP segment held significant share of the global geothermal drilling rig market in 2019. Above 900 HP is used to drill wells with depth more than 1,000 meters. In terms of end use, power plants segment is anticipated to expand at a rapid pace due to the introduction of several geothermal power projects.
Download PDF Brochure – https://www.transparencymarketresearch.com/sample/sample.php
The consumption of electricity has been rising significantly across the globe since the last few years due to rapid urbanization, increase in investments in industrial infrastructure, and economic growth. The increase in demand for electricity and enactment of strict government regulations to limit carbon emissions from the power sector are compelling companies to introduce highly effective and pollution-free energy generation methods. Geothermal energy is a prominent alternative for fossil fuel. Electricity generation through the utilization of geothermal energy increased by 5% in 2018, more than the average growth in the previous five years. Thus, growth in the production of geothermal energy across the globe is expected to drive the global geothermal drilling rig market during the forecast period, as geothermal drilling rigs are used to drill boreholes to extract the Earth’s heat.
View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/77475
In May 2020, SIMCO Drilling Equipment, Inc. introduced a new SIMCO PDQ drill pipe. This pipe is used in water well, geothermal, and geotechnical projects. SIMCO PDQ drill pipe carries several advantages. For instance, it makes connections faster by 60% and is easy to handle in the field, as it is 30% lighter than conventional pipes. In March 2020, SIMCO Drilling Equipment, Inc. launched truck-mounted rigs. The compact 3700 trailer can be employed in water well rig, geotechnical drill rig, and geothermal drilling. The trailer has features such as stable drill platform, extra ace for drill rod, as well as room for a proper sized mud pump system.
Purchase Premium Research Report on Geothermal Drilling Rig Market @ https://www.transparencymarketresearch.com/checkout.php
Europe dominated the global geothermal drilling rig market in 2019. Turkey constituted major share of the geothermal drilling rig market in the region in 2019. The dominance of Turkey in geothermal drilling rig market in Europe can be ascribed to increase in adoption of green technologies such as geothermal in the country. Drilling of geothermal wells entails low cost in Turkey. This is a major factor attracting investment in development of geothermal resources across the country. In turn, this is estimated to propel the geothermal drilling rig market in Turkey in the near future. The geothermal drilling rig market in Asia Pacific is anticipated to expand during the forecast, period owing to the increase in investments in development of geothermal power plants, primarily in Indonesia and Australia, in order to meet the rising demand for electricity.
The global geothermal drilling rig market is dominated by several local and regional players. Thus, the global geothermal drilling rig market is fragmented. Prominent players operating in the global geothermal drilling rig market include SIMCO Drilling Equipment, Inc., Gill Rock Drill Co., Inc., Drillmec, Herrenknecht AG, Gill Rock Drill Co., Inc., Geomachine Oy, Bentec GmbH Drilling & Oilfield Systems, Versa-Drill, Mannvit, H. Anger’s Söhne, Soilmec Ltd., STREICHER Drilling Technology GmbH, and Huisman Equipment B.V.
Browse More Press Releases: https://www.transparencymarketresearch.com/press-releases.htm
Geothermal Drilling Rig Market, by Type
Geothermal Drilling Rig Market, by End Use
Geothermal Drilling Rig Market, by Drill Bit
Geothermal Drilling Rig Market, by Horsepower
Geothermal Drilling Rig Market, by Region
Browse Latest Reports by TMR: https://www.transparencymarketresearch.com/latest.htm
Explore Transparency Market Research’s award-winning coverage of the global Energy & Natural Resources Industry,
Decentralized Electricity Generation Market – With the increasing installation of smart grids and the rising number of electricity generation resources, the power generation industry has been undergoing a significant change over the recent past. The modification in the grid structure, which permits decentralization of electricity generation, is acting as the main driving force behind the substantial growth of the global decentralized electricity generation market.
Retail Electricity Market – The global retail electricity market is expected to witness a progressive growth throughout the forecast period. The research study offers an in-depth analysis of the global retail electricity market provides a detailed analysis, offering insights into the key factors that are expected to encourage the growth of the overall market in the near future. The product portfolio, technological advancements, primary applications, key regional segments, and the competitive landscape of the global retail electricity market have been discussed at length in the scope of the research study.
Gas Turbine Services Market – The global gas turbine services market is divided on the basis of type of gas turbine into heavy duty gas turbine and aero derivatives. Currently, heavy duty type gas turbine is the leading segment owing to increase in the number of large gas fired plants. The industry can be further divided by rated capacity turbines are segmented into 1 to 40 MW, 40 to 120 MW, 120 to 300 MW, and above 300 MW. In terms of service, gas turbine services market is segmented into maintenance, repair and overhaul. Gas turbine services market is segmented on the basis of end user applications as original equipment manufacturer and non-original equipment manufacturer and in terms of applications, it is segmented as oil and gas, power generation and other industries.
Weather Forecasting Services Market – Increasing incidence of natural disasters due to undesired climatic changes and subsequent security concerns are propelling the weather forecasting services market. Advanced and reliable weather forecasting achieved within the stipulated time can lead to significant cost savings and also help with protection against catastrophes and natural disasters. Weather forecasting services are based on complex models due to which the industry requires trained meteorologists and geologist to operate the weather forecasting systems. Therefore, a dearth of trained workforce may hamper the market. However, technological advancements in computing system such as advanced data analytics, model development and machine learning tools and techniques are likely to provide new opportunities to players involved in weather forecasting services.
Explore More Upcoming Reports: https://www.transparencymarketresearch.com/upcoming.htm
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/geothermal-drilling-rigs-market.htm
Website: http://www.transparencymarketresearch.com