Oil & Gas Equipment & Services · Indirect
Monitoring · monthlyProcurement Category Intelligence
Top Drives
Overview
Market size
$1,800
global, USD
CAGR
4.5%
base to forecast
Buyer power
-2.0
supplier-favoured
Suppliers
6
tracked players
Signals
12
1 high severity
Market outlook
2031$2243
What changed
Demand by region
North America demand35%
Middle East demand25%
Asia Pacific demand20%
Rest of world demand20%
share of global demandtotal 100%
Cost drivers
High grade steel forgings and structural alloys30%
Electric motors and power electronics25%
Precision gears and heavy duty bearings20%
Specialized assembly labor and overhead15%
Hydraulic systems and high pressure seals10%
share of delivered cost (analyst estimate)