Downhole Tools Market by Tool Type, Application & by Region - Global Trends & Forecast to 2019
DUBLIN, Sept. 16, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/pbp8zn/downhole_tools) has announced the addition of the "Downhole Tools Market by Tool Type, Application & by Region - Global Trends & Forecast to 2019" report to their offering.
The global downhole tools market is estimated to reach $4.49 Billion by 2019, at a CAGR of 4.9%, signifying a high demand for these tools for well intervention purposes.
Downhole tools play an important role in oil & gas exploration and production activities. Downhole tools are employed for workover and completion activities of a well in the Bottom Hole Assembly (BHA). Downhole tools are selected based on the formation characteristics of the reservoir and the rate of penetration to be achieved. These tools find application in a variety of operations, such as fishing, casing, cementing, well bottom communication, drilling, logging, fracturing, and well measurements. The rising demand for advanced tools that function optimally in high pressure and temperature conditions has also been a driver of this market.
Discovery of shale gas reserves and ultra-deep drilling activities: Driver of downhole tools market.
North America dominated the global market with a share of 42% in 2013. However, Africa is expected to grow at a faster rate with the highest CAGR of 8.2% during the forecast period. This is mainly because of new hydrocarbons discoveries in Africa. Well intervention forms the major application of downhole tools and accounts for a market share of 29%.
The top players in the downhole tools market include National Oilwell Varco, Inc. (U.S.), Logan Oil Tools Inc. (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), Schoeller Bleckmann Oilfield Equipment AG (Austria), and Schlumberger (U.S.).
The major downhole tools include flow and pressure control, impurity control, drilling, downhole control systems, and handling tools. Drilling downhole tools held the largest market share, in terms of value, in 2014.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Downhole Tools Market, By Application
8 Downhole Tools Market, By Tool-Type
9 Downhole Tools Market, By Region
10 Competitive Landscape
11 Company Profiles
- Anton Oilfiend Services Ltd.
- Baker Hughes
- Halliburton Co.
- Logan Oil Tools Ltd.
- Moog Inc.
- National Oilwell Varco Inc.
- Oil States International
- Saint Gobain
- Schlumberger Ltd.
- Schoeller Bleckmann Oilfield Equipment AG
- United Drilling Tools Ltd.
- Weatherford Internation
- Wenzel Downhole Tools Ltd.
For more information visit http://www.researchandmarkets.com/research/pbp8zn/downhole_tools
Media Contact: Laura Wood , +353-1-481-1716, email@example.com
Source: PR Newswire
(September 16, 2015 - 6:10 AM EDT)
News by QuoteMedia