Press release
Downhole Battery Packs Market Revenue Growth and Quantitative Analysis Till 2030
These batteries are used in battery-powered downhole tools used for oil and gas industry exploration, drilling, and production. These tools require reliable power for communications, sensors, and other electronic devices. Thus rising demand for downhole battery packs for the aforementioned industries has driven the market's growth. Further, the growing oil and gas industry accounts for the growth of downhole battery packs in the market in the forecast period.
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COVID-19 Impact on the Global Downhole Battery Packs Market
The effects of the coronavirus global pandemic have rippled through many lives and have upended aspects of health care, the economy, and transportation globally. Further, the downhole battery packs market is no exception. As businesses were shut down worldwide, road traffic grounded to a standstill. Quarantines and stay-at-home orders barred workers from operating downhole battery packs shuttered mines and refineries and froze shipments of manufactured goods. Economic uncertainty and mass layoffs had curtailed consumer spending. However, as the pandemic situation comes to normal globally, responses to this crisis, including government policies, emerging energy storage, manufacturing technologies, and the persistence of the research community, will lay a significant imprint on the market's future growth.
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Scope of the Global Downhole Battery Packs Market
The study categorizes the downhole battery packs market based on temperature and application at the regional and global levels.
By Temperature Rating (Sales, USD Million, 2017-2030)
85°C
150°C
180°C
200°C
By Application (Sales, USD Million, 2017-2030)
Measurement While Drilling (MWD)
Logging While Digging (LWD)
Pipeline Inspection Gauges (PIGs)
Setting Tools
Pressure Gauges
Production Logging
Near-Bit Subs
Rotary Steerable Tools
Others
By End-use Industry (Sales, USD Million, 2017-2030)
Oil & Gas
Mining
Construction
Others
By Region (Sales, USD Million, 2017-2030)
North America
US
Canada
Mexico
Europe
Germany
Italy
France
UK
Spain
Poland
Russia
Slovenia
Slovakia
the Netherlands
Belgium
Norway
Denmark
Czech Republic
Sweden
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Indonesia
Malaysia
Thailand
Vietnam
the Philippines
Singapore
Australia & New Zealand
Rest of Asia Pacific
South America
Brazil
Argentina
Colombia
Rest of South America
The Middle East & Africa
Saudi Arabia
UAE
South Africa
Northern Africa
Rest of MEA
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The oil & gas segment is projected to account for the largest market share, by the end-use industry
Based on the end-use industry, the global downhole battery packs market is divided into oil & gas, mining, construction, and others. In 2021, oil & gas accounted for the largest market share in the global downhole battery packs market. Oil fields use batteries to power an ever-growing number of downhole tools. The downhole environment is very hostile to battery technology, with extreme temperatures, shocks, and vibrations far exceeding those found in other harsh environments. Oil and gas fields, commonly found in some of the coldest regions of the globe, often have low surface temperatures of -40 ° C. While the operating temperature at the bottom of the well can easily reach 180 ° C. For this, a downhole battery is the best solution for working at such high temperatures.
Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the global downhole battery packs market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR in the global downhole battery packs market during the forecast period. The energy demand has increased the drilling and completion activities throughout the Asia Pacific. This has increased the demand to extract more from each well, necessitating additional deep exploration. As drilling and completion activities expand, so does the demand for downhole battery packs. Chinese players and a few Asian players are projected to grow in the near future.
Key Market Players in the Global Downhole Battery Packs Market
The competitive environment in this market is expected to intensify with an increase in the product extensions, and different strategies adopted by key vendors further.
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Major Players in the market are:
EaglePicher Technologies
Excell Battery Co
DOWNHOLE BATTERY INC.
Steatite Ltd (Batteries)
Integer Holdings Corporation
Saft2022
AceOn Group
SOUTHWEST ELECTRONIC ENERGY CORP
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