Master Bushing Market To Witness Steady Expansion During 2021-2031

Market Snapshot

In a latest report published by Fact.MR- a market research and competitive intelligence provider- master bushing machines sales are predicted to increase in 2021, as the incidence of the COVID-19 pandemic staves off.

During the pandemic crisis, factory closures and cessation of commercial drilling operations largely constrained master bushing sales. With the intensity of the pandemic fading, outdoor exploration activities are leading to a resumption of drilling projects, thus restoring demand.

This research report by Fact.MR examines global master bushing sales from 2016 to 2020, and provides forecasts from 2021-2031.

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Significant Developments in the Master Bushing Industry

Caterpillar, a prominent industrial equipment manufacturer, offers two distinct systems: the Abrasion Undercarriage System and the Heavy-Duty Extended Life (HDXL) Undercarriage System with DuraLink.

In addition to replacing SystemOne, it has been field-tested for use in abrasive materials, including sand, mud, crushed stone, clay, and gravel. Cat offers an Abrasion Undercarriage System as a factory-installed option or as a replacement option on all new D1 to D6 (small to medium) dozers as well as legacy D3 to D6 models.

Undercarriage systems powered by Cat Heavy Duty Extended Life (HDXL) are designed for low-to-medium abrasion, medium- to high-impact applications such as hard rock and landfills.

In September 2020, Hitachi ABB Power Grids announced the launch of its TXpert Ecosystem for the digitalization of transformers. The ecosystem facilitates data-driven intelligence and decision-making for the operation and maintenance of transformers and power grids.

The company offers a comprehensive portfolio of products, software, and services that work together and can be integrated with other digital equipment from other manufacturers.

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Market Segmentation

• Based on application, the global market for master bushing has been segmented as:

  • Offshore Oil Drilling System
  • Onshore Oil Drilling System
  • Land Drilling System

Demand for land drilling systems is expected to remain strong. This system comprises of wells, heavy boring, and other heavy drilling equipment.

The master bushing always applies to mechanisms of heavy boring of wells and oil drilling.

• Based on types of rigs, the master bushing market is segmented as:

  • Single Rigs
  • Double Rigs
  • Triple Rigs

These rigs help in easy drilling of oil wells and doesn’t cause inconvenience to the employees who are doing the jobs.

• Based on shape- the market for master bushing is divided into:

  • Square Shape Master Bushing
  • Pin Shape Master Bushing

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Prominent Master Bushing Manufacturers Engage in Intense Competition

As the master bushing is an expanding market, there is major competition amongst key players.

These include

• Schramm Inc.
• BAUER AG
• Caterpillar
• Sany Group Co.Ltd.
• Zoomlion Heavy Industry
• Dando Drilling International Ltd.
• Beijing Sinovo International
• Atlas Copco.

Off-Shore Drilling Generates Heightened Revenue for Master Bushing

Unceasing demand for oil by various industries is continuing to keep demand for master bushing systems elevated since the past several years.

Governments across the world are allocating massive proportions of their annual budgets to fulfilling this demand for oil, leading to an increasing in off-shore drilling and exploration projects. This, in turn, is positively influencing sales of master bushing systems.

Additionally, new technologies and increasing demand for renewable energy resources and cost-saving initiatives will help the industry expand across the forecast period. Rising prices of on-shore oil is further reinforcing the market’s expansion prospects in the off-shore segment.

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