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Pulished Date December, 2020
ID: 10511
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Downhole Tools Market Segmentation By Tool Type (Flow & Pressure Control, Impurity Control, Downhole Control And Handling), By Application (Drilling, Completion, Well Intervention, Formation & Evaluation and Oil & Gas Production), and Region - Industry Forecast of 2020 to 2025

Pulished: December, 2020
ID: 10511
Pages: 175

Downhole Tools Market Value And Growth Analysis (2020-2025)

The global Downhole tools market was at USD 3.39 billion in 2020 and is predicted to grow at a CAGR of 4.5% from 2020 to 2025. Downhole tools are the equipment that is employed primarily in the oil field for various operations such as fishing, casing, cementing, and wells. Downhole communication, drilling, logging, well measurement and fracturing. Downhole tools are particularly effective under extreme pressure and temperature conditions. In addition, they are employed in the downhole assembly for workover and completion operations. Downhole tools are a critical requirement for any well drilling and are the most cost-effective way to improve the overall efficiency of your operations. Downhole tools are a category of oilfield equipment employed for drilling, completion, well intervention and well workover activities. A large amount of oil remains undeveloped below the surface, downhole tools offer the advantage of optimizing production levels from oil wells. Also, downhole tools are employed to maintain the flow of a tank. To carry out these activities, a wide range of downhole tools are available, including centering rollers, friction drag, shock tools, fishing tools, drill jars, tubular tools, and drill rods are employed.

Downhole Tools Market Trends:

The escalating need for drilling around the world is a key factor in the expansion of the worldwide market for downhole tools. Additionally, the rising use of downhole tools in downhole assembly and in end-use applications such as well service and well completion are important factors. which are predicted to drive the expansion of the global downhole tools market during the foreseen period. Also, the growing adoption of downhole tools by the oil and gas industry and technological advancements in downhole tools are other important factors that are predicted to drive the expansion of the global downhole tools market to a great extent. The increase in hydrocarbon exploration activities, together with the emphasis on the use of sustainable energy, will open up enormous potential for companies operating in the market. The ability of downhole tools to minimize the overhead costs associated with oil and gas drilling activities will contribute to the growing adoption of the devices around the world.

Recent Developments in the Downhole Tools Market Industry:

  • LORD announces the launch of improved downhole tool isolator technology. Developed to meet the industry's needs for more durable electronic components and battery isolators capable of shock and vibration protection, LORD Corporation's solution addresses extreme environments, high and low shocks. frequencies. The LORD isolator family is designed to meet these unique downhole conditions.
  • Peak Well Systems, a leading specialist in the design and development of advanced downhole intervention tools, is pleased to announce the launch of the FlexiDrift, a precise and adjustable tool for confirming diameter specification. Minimum well tubes capable of covering a variety of tube sizes.

Downhole Tools Market Drivers

The continuous increase in drilling activity around the world is the main factor driving the market for downhole tools. The superiority of downhole tools over conventional drilling tools is the ability to improve the production efficiency of oil wells. The main factors driving the market include escalated exploration activity around the world, the implementation of new technologies in mature wells, and escalated shale oil and gas drilling activity. In 2017, according to the price of oil, 39 companies bid for mature oil fields in Norway for exploration and drilling activities.

Restraints:

However, the high cost associated with downhole tools is a key factor restraining the expansion of the worldwide market.

Opportunities:

The global downhole tools market is predicted to see a great deal of advancement during the foreseen period due to continued discoveries in the oil and gas industry, coupled with the escalating number of mature fields. The market is also predicted to have strong expansion activities by multinationals and established companies. The advent of automated solutions is likely to drive expansion in the downhole tools market in the coming years. Automation continues to make its mark on today's downhole tools market landscape and is predicted to meet today's challenge of effectively following a prescribed downhole route. Companies in today's market for downhole tools are focused on improving the guiding dexterity of drill tools in accordance with the required rate of penetration (ROP). As companies continue to minimize production and development costs, the accuracy and quality of a good placement will continue to be essential.

Challenges:

Rising raw material prices and the escalating use of renewable energy sources are other factors that may hamper the expansion of the worldwide market for downhole tools during the foreseen period.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2019 – 2025

Base Year

2019

Forecast Period

2020 - 2025

CAGR

4.5%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

 

Market Leaders Profiled

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.), Wenzel Downhole Tools Ltd. (U.S.), Saint Gobain (France), Oil States International Inc. (India), United Drilling tools (India), 

Downhole Tools Market

Downhole Tools Market Segmentation:

By tool type:

  • Flow &Pressure Control
  • Impurity Control
  • Downhole Control
  • Handling

Drilling tools have enormous potential, among others, due to their ability to drill even to a depth of 6,000 to 12,000 feet and at an angle of 900 and their operations can be controlled from the surface.

By application:

  • Drilling
  • Completion
  • Well Intervention
  • Formation & Evaluation
  • Oil & Gas Production

Among these, drilling and production segments has the largest market share. Downhole tools have the ability to drill without friction and at the same time remove blockage. Drilling tools below downhole tools are employed to maintain the flow pressure of production fluids and are widely employed by oilfield service providers.

Downhole Tools Market Regional Analysis:

The Downhole Tools Report includes the segmentation of Regions with their respective Countries.

  • North America 
  • Europe 
  • Asia Pacific
  • Latin America 
  • Middle East & Africa 

North America is a dominant player in the global downhole tool market and represents the highest market share in terms of revenue compared to markets in other regions. This can be attributed to the presence of several prominent companies and the significant increase in drilling activity in the countries of the region. The Europe market represents the second highest contribution in terms of revenue share to the worldwide market for downhole tools, followed by the Latin American, Asia-Pacific and Middle East and Africa. Also, the Asia-Pacific market is predicted to experience the fastest expansion in terms of revenue, due to factors such as the increase in the number of drilling activities for oil and gas production. North America is likely to be a very attractive region of the global downhole tools market during the foreseen period. The market in North America is estimated to experience significant expansion between 2020 and 2025, due to the increase in the number of new oil and gas well drilling activities in the region. Furthermore, call for crude oil and gas driven by escalating urbanization is predicted to drive the market in the region during the conjecture period. Asia-Pacific had a significant share of the worldwide market in 2020. China and India are key market countries in the region. China accounted for a significant share of the Asia-Pacific downhole tool market in 2020, due to escalated oil and gas drilling activity in the country.

Competitive Landscape:

Stabiltec recently won a multi-million-dollar contract for Petrobras in Brazil. The position was assigned by a large service company and involved the supply of stabilizers. The main function of downhole tools is to perform workover activities, reduce the costs involved in oil recovery processes, improve well life, and bring production fluids to the area.

Downhole Tools Market Key Players:

The key players involved in the 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.), 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.

 

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Downhole Tools Market, By Type                     

                                6.1.1 Flow & Pressure Control   

                                6.1.2 Impurity Control   

                                6.1.3 Downhole Control               

                                6.1.4 Handling   

                                6.1.5 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.6 Y-o-Y Growth Rate Analysis             

                                6.1.7 Market Attractiveness Index          

                6.2 Downhole Tools Market, By Application                        

                                6.2.1 Drilling       

                                6.2.2 Completion             

                                6.2.3 Well Intervention 

                                6.2.4 Formation & Evaluation     

                                6.2.5 Oil & Gas Production           

                                6.2.6 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.7 Y-o-Y Growth Rate Analysis             

                                6.2.8 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                  

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Type    

                                7.2.3 By Application        

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Type    

                                7.3.3 By Application        

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Type    

                                7.4.3 By Application        

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Type    

                                7.5.3 By Application        

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Type    

                                7.6.3 By Application        

8. Key Player Analysis                                    

                8.1 Schlumberger                            

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Halliburton                  

                8.3 Baker Hughes                            

                8.4 Weatherford International                  

                8.5 National Oilwell Varco Inc                     

                8.6 Logan Oil Tools Inc                   

                8.7 Wenzel Downhole Tools Ltd                

                8.8 Saint Gobain                              

                8.9 Oil States International Inc                   

                8.10 Anton Oilfield Services                        

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Downhole Tools Market By Region, From 2020-2025 ( USD Billion )
  2. Global Downhole Tools Market By Type, From 2020-2025 ( USD Billion )
  3. Global Flow & Pressure Control Market By Region, From 2020-2025 ( USD Billion )
  4. Global Impurity Control Market By Region, From 2020-2025 ( USD Billion )
  5. Global Downhole Control Market By Region, From 2020-2025 ( USD Billion )
  6. Global Handling Market By Region, From 2020-2025 ( USD Billion )
  7. Global Downhole Tools Market By Application, From 2020-2025 ( USD Billion )
  8. Global Drilling Market By Region, From 2020-2025 ( USD Billion )
  9. Global Completion Market By Region, From 2020-2025 ( USD Billion )
  10. Global Well Intervention Market By Region, From 2020-2025 ( USD Billion )
  11. Global Formation & Evaluation Market By Region, From 2020-2025 ( USD Billion )
  12. Global Oil & Gas Production Market By Region, From 2020-2025 ( USD Billion )

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