According to Cognitive Market Research, the global Workover Rigs market size will be USD 572.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.80% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 229.0 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 171.78 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 131.70 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.8% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 28.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 11.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.
The Hydraulic Workover Rigs category is the fastest-growing segment of the Workover Rigs industry
