DUBLIN--(BUSINESS WIRE)--The "Global Power Slip Lifter Market By Type (Hydraulic, Pneumatic), By Bushing (Casing Bushing, Master Bushing), By Location (Offshore, Onshore), By Holding Component (Drill Pipe Slips, Drill Collar Slips, Casing Slips, Others), By Region, Forecast and Opportunities, 2017-2027" report has been added to ResearchAndMarkets.com's offering.

The global power slip lifter market is expected to grow at a significant rate during the forecast period, 2023-2027. The market growth can be attributed to the rising need for safety measures at the oil drilling sites. Besides, surge in demand for better and efficient drilling equipment, and rig pipe handling system is expected to boost the growth of the global power slip lifter market in the coming years.

Power slip lifters are pipe handling systems that are capable of lifting drill-collar slips, casing slips, drill pipe slips, and so on into and out of the rotating table. The lifter is applicable to both pneumatic and hydraulic systems.

The system is frequently operated using a remote or operating valve that initiates the lifting and delivering functions without any human intervention, limiting the possibility of unintentional slips, injuries, and other safety hazards. Power slip lifters are designed to set faster and enable self-centering in bushings, hence reducing tool misuse and increasing equipment life by reducing wear and tear that may occur during manhandling.

Oil rigs and drilling sites are high-risk areas for accidents due to a variety of factors such as oil leaks, improper management of drilling equipment, inadvertent wear and tear of pipe handling systems, fires, and so on. The loss suffered as a result of oil leakage, improper equipment handling, and prolonged exposure is far too great.

As a result, special safety precautions for equipment handling and employees are in high demand. Growing worries about commodities and human life losses are driving the expansion of the global power slip lifter market during the next five years. Moreover, rapidly increasing demand for the oil and petroleum products from various end-use industries is also expected to drive the growth of the global power slip lifter market in the coming five years.

Years considered for this report:

• Historical Years: 2017-2020
• Base Year: 2021
• Estimated Year: 2022
• Forecast Period: 2023-2027

Objective of the Study:

• To analyze the historical growth in the market size of the global power slip lifter market from 2017 to 2021.
• To estimate and forecast the market size of global power slip lifter market from 2022 to 2027 and growth rate until 2027.
• To classify and forecast the global power slip lifter market based on type, bushing, location, holding component, region, and company.
• To identify the dominant region or segment in the global power slip lifter market.
• To identify drivers and challenges for the global power slip lifter market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global power slip lifter market.
• To identify and analyze the profiles of leading players operating in the global power slip lifter market.
• To identify key sustainable strategies adopted by market players in global power slip lifter market.

Companies Mentioned

• Imenco Smart Solutions
• Weatherford International
• Forum Energy Technologies Inc.
• Janki Oil Tools
• Keystone Energy Tools
• Den.Con Tool Co.

Report Scope:

In this report, global power slip lifter market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Power Slip Lifter Market, By Type:

• Hydraulic
• Pneumatic

Power Slip Lifter Market, By Bushing:

• Casing Bushing
• Master Bushing

Power Slip Lifter Market, By Location:

• Offshore
• Onshore

Power Slip Lifter Market, By Holding Component:

• Drill Pipe Slips
• Drill Collar Slips
• Casing Slips
• Others

Power Slip Lifter Market, By Region:

• North America
• United States
• Mexico
• Canada
• Europe
• France
• Germany
• United Kingdom
• Italy
• Spain
• Poland
• Denmark
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Singapore
• Malaysia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Iraq
• Turkey
• South America
• Brazil
• Argentina
• Colombia
• Peru
• Chile

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