Should I be Right About Drilling Waste Management Market Revenue Growing Rapidly

Frequency converters are useful in distinctive industrial applications, to match the frequency of power supply with the frequency of any electrical equipment connected. Demand to run the electric machinery and equipment effectively and cost efficiently across diverse sectors is the primary reason behind a rise in the usage of frequency converters. Since more than a decade, frequency converters are being used in industries such as aerospace & defense, process industry, power & energy, oil & gas, marine/offshore, and traction among others. These are basically used to convert the input supply frequency from one level to the desired frequency, as per the requirement and the specification of the equipment or machinery.

The drilling waste management market, in terms of developments was dominated by Kosun (China), TWMA (U.K.), Ridgeline Energy Services (Canada), and Soli-Bond, Inc. (U.S.).

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The market has been segmented into:
On the following basis:

·         By Application:

o    Onshore

o    Offshore

·         By Service:

o    Solid Control

o    Containment & Handling

o    Treatment & disposal

·         By Region:

o    North America

o    South America

o    Europe

o    Asia-Pacific

o    The Middle East

o    Africa

Browse 79 market data Tables and 55 Figures spread through 202 Pages and in-depth TOC on "Drilling Waste Management Market - Global Forecast to 2020"
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The frequency converter market is segmented on the basis of two types; first type is static frequency converter; it consists of components such as a rectifier, a DC bus or internal power storage battery, an inverter, and a control panel. Rectifiers and inverters are a combination of capacitor banks and semiconductor switches (such as GTO, power transistor, and IGBT,), along with diodes and control electronics. The other type is rotary frequency converter; it is robust in design and is mostly used in gas turbine power plants, offshore activities, and traction power supply. Although other industries use rotary frequency converters, they prefer static frequency converters for their compactness.

Figure: Drilling Waste Management Market

Frequency converter is used in varied end-use industries depending on the frequency requirement of the equipment connected to the converter. The end-users of frequency converters, considered for study include aerospace & defense, power & energy, oil & gas, traction, process industry, marine/offshore, research & testing laboratories, and grid interconnections among others. Differences in electrical standards of mains electricity supply worldwide, international trading, and an increase in the demand for energy-efficient frequency converters are driving the market. The global frequency converter market is projected to reach USD 23.2 Billion by 2020, from an around USD 15.0 Billion in 2015, at a CAGR of 9.1% from 2015 to 2020.

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North America is estimated to be the global leader in the drilling waste management market by value for the next 5 years.
The North American region has been categorized on the basis of countries into the U.S., Canada, and Mexico. The region accounts for more than half of the market. The market has been hit the hardest due to the meltdown in global crude oil prices, with the U.S. drilling rig count declining nearly 60%, from January 2015 to January 2016. The primary reason for this is the higher break-even costs in shale drilling and production, forcing producers to idle more rigs in face of lower prices compared with drillers in other regions with lower production costs, such as the Middle East.

This study estimates the global market of drilling waste management, in terms of USD, till 2020. It also offers a detailed qualitative and quantitative analysis of this market. This report provides a comprehensive review of major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues of the market. The report also covers various important aspects of the market such as value chain, Porter’s Five Forces model, competitive landscape, market dynamics, market estimates in terms of value, and future trends in the drilling waste management market.

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