Albany, NY -- (SBWIRE) -- 06/13/2017 -- Top drive system is a mechanical system on a drilling rig that simplifies drilling of the borehole for extraction of petroleum, gasses, and water. The drivers boosting the growth of the top drive systems market includes the rise in the number of drilling rigs, increase in exploration as well as drilling activities.

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To further clarify the market scenario, Market Research Reports Search Engine (MRRSE) has added a research study headed as "Top Drive Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2023" to its vast repository. According to this report, the market is anticipated to grow during the forecast period 2016-2023.

Top drive systems are used for various activities such as mineral exploration, environmental site assessment, underground storage of unwanted substances, geothermal installation, geotechnical investigation and temperature measurement for installing underground utilities. Being more favorable than traditional Kelly drive systems due to the safer drilling operation, back reaming, reduction possibility of stuck pipe incidents and detachable connections, the top drive systems market is ought to grow in the coming future.

The report has segmented the market of top drive systems by technology, application, the design of vessel and geography. On the basis of technology, the global top drive systems market is segmented as hydraulic top driver systems and electric top driver systems. The market is also segmented by application of top drive systems that includes- onshore and offshore applications. In terms of design of vessel the global top drive systems market is segmented as semi-submersibles, drill ships, and jack-up top drive systems. Finally, on the geographical scale, the global top drive systems market is segmented into various regions including North America, Latin America, Asia-Pacific, Japan, Western Europe, Eastern Europe, Africa and the Middle East.

The report is concluded by providing the list of key players in the top drive systems market which include:

Tesco Corporation
Warrior Manufacturing Services Ltd
National Oilwell Varco.
China National Petroleum Corporation (CNPC)
Cameron International Corporation
Honghua Group Limited
Aker Solutions AS
Bentec GMBH Drilling & Oilfield Systems
Axon Energy Products
Canrig Drilling Technology Limited

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Moreover, the provided detailed research report also encloses recent industry development, market shares and strategies of key players as well as emerging niche segments and regional markets, to offer the readers with an extensive knowledge about the top drive systems sector.

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