Downhole Tools Market Size, Share, Demand, Growth, Trends by Manufacturers, Regions Type and Application Forecast To 2023

Market Highlights:-

Downhole tools are used extensively in bottom hole assembly for several completion and work-over operations. The bottom hole assembly is selected majorly dependent on the formation of the reservoirs.

The continuous increase in drilling activities across the globe is the major factor that drives downhole tools market. The superiority of downhole tools over the conventional drilling tools lies in the capability of improving the efficiency of the production from the oil wells. The major factors that are driving the market include increasing exploration activities from the globe, implementation of new technology in the mature wells, and increased shale oil and gas drilling activities. In 2017, According to oil price 39 companies had bid for the Norwegian mature oil fields for re-exploration and drilling activities.

Global Downhole Tools Market - Competitive Analysis

Characterized by the presence of several well-established and small players, the global Market of Downhole Tools appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, and services. Vendors operating in the market strive to deliver the best quality products and services based on innovative technologies, and best practices. These Key Players make a substantial investment for R&D and to secure a guaranteed resource for the customers. Downhole Tools market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.

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Industry Top Key Players:-

The key players involved in downhole tools market are Schlumberger (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), Weatherford International (Ireland), National Oilwell Varco Inc. (U.S.), Logan Oil Tools Inc. (U.S.), and Wenzel Downhole Tools Ltd. (U.S.). Saint Gobain (France), Oil States International Inc. (India), United Drilling tools (India), Anton Oilfield Services (China), and Excalibre Downhole Tools Ltd. (Canada) are among others.

Segmentation:
Based on Type, the market has been segmented into Drilling, Downhole Control, Handling, Flow & Pressure Control, and others. Drilling tools dominates the type segment of global market. due to its wide use in drilling the wells. Increasing drilling activities across the globe increase the demand for the drilling tools.

Based on application, the market has been segmented into Drilling, Completion, Formation & Evaluation, Production, and Intervention. Well Intervention dominates the application segment of global market. Well drilling tools demand is expected to remain fairly stable over the forecast period.

Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific, Middle East & Africa and South America.

Major Points From Table Of Content:-
1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

3 MARKET LANDSCAPE

3.1 PORTER’S FIVE FORCES ANALYSIS

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

To be continued.......

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Regional Analysis:

The global downhole tools market is expected to witness a phenomenal growth over the forecast period. North America region is expected to account for the largest market share owing to greater number of new exploration activities and huge number of mature oilfields. U.S. is witnessing huge production from the shale rocks, which require advanced technology. Asia Pacific region is likely to command the second largest market share given the growing exploratory activities in the region for shale production. In April 2018, Eni, a major oil player has received a contract for the development for a gas field in Indonesia. The growth of downhole tools market is majorly attributed to the demand for reliable equipment for drilling and completion of the wells. The advantage of downhole tools market over conventional well completion tools is the leading force for the global downhole tools market.

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