Downhole Tools Market Dynamics 2021-2031
Downhole tools are the tools that are used during well completion, drilling, and intervention. Downhole tools help the oil well to maintain a continuous flow from a reservoir and optimize the production levels. Ongoing production and exploration activities across the globe are booming the growth of the downhole tools market. The necessity of the downhole tools in various applications and rising need to improve production is driving the growth of the downhole tools market.
MARKET DYNAMICS
The various application of downhole tools in the various operation such as drilling, casing, fracturing, fishing, well bottom communication, logging, cementing, and well measurements, hence increasing demand for the tools that propel the growth of the downhole tools market. Increasing deepwater and ultra-deepwater activities and rising need for maximization of the production is driving the growth of the downhole tools market. Technological advancement and significant oilfield development are expected to drive the growth of the downhole tools market.
MARKET SCOPE
The "Global Downhole Tools Market Analysis to 2031" is a specialized and in-depth study of the downhole tools industry with a special focus on the global market trend analysis. The report aims to provide an overview downhole tools market with detailed market segmentation by type, application, and geography. The global downhole tools market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading downhole tools market players and offers key trends and opportunities in the downhole tools market.
MARKET SEGMENTATION
The global downhole tools market is segmented on the basis of type, application. On the basis type the market is segmented as drilling tools, handling tools, flow and pressure tools, control tools, others. On the basis application the market is segmented as well drilling, well intervention, formation and evaluation, production and well completion.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global downhole tools market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The downhole tools market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting downhole tools market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the downhole tools market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global downhole tools market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The downhole tools market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting downhole tools market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the downhole tools market in these regions.
MARKET PLAYERS
The reports cover key developments in the downhole tools market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from downhole tools market are anticipated to lucrative growth opportunities in the future with the rising demand for downhole tools in the global market. Below mentioned is the list of few companies engaged in the downhole tools market.
The report also includes the profiles of key downhole tools companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- ATEC, INC.
- Baker Hughes
- Bilco Tools Inc.
- Coil Solutions Inc.
- Halliburton Energy Services, Inc.
- National Oilwell Varco
- Schlumberger Limited
- United Drilling Tools LTD
- Weatherford International Ltd.
- Wenzel Downhole Tools Ltd.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Downhole Tools Market - By Type
1.3.2 Downhole Tools Market - By Application
1.3.3 Downhole Tools Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DOWNHOLE TOOLS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. DOWNHOLE TOOLS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. DOWNHOLE TOOLS MARKET - GLOBAL MARKET ANALYSIS
6.1. DOWNHOLE TOOLS - GLOBAL MARKET OVERVIEW
6.2. DOWNHOLE TOOLS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. DOWNHOLE TOOLS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. DRILLING TOOLS
7.3.1. Overview
7.3.2. Drilling Tools Market Forecast and Analysis
7.4. HANDLING TOOLS
7.4.1. Overview
7.4.2. Handling Tools Market Forecast and Analysis
7.5. FLOW AND PRESSURE TOOLS
7.5.1. Overview
7.5.2. Flow and Pressure Tools Market Forecast and Analysis
7.6. CONTROL TOOLS
7.6.1. Overview
7.6.2. Control Tools Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. DOWNHOLE TOOLS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. WELL DRILLING
8.3.1. Overview
8.3.2. Well Drilling Market Forecast and Analysis
8.4. WELL INTERVENTION
8.4.1. Overview
8.4.2. Well Intervention Market Forecast and Analysis
8.5. FORMATION AND EVALUATION
8.5.1. Overview
8.5.2. Formation and Evaluation Market Forecast and Analysis
8.6. PRODUCTION AND WELL COMPLETION
8.6.1. Overview
8.6.2. Production and Well Completion Market Forecast and Analysis
9. DOWNHOLE TOOLS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Downhole Tools Market Overview
9.1.2 North America Downhole Tools Market Forecasts and Analysis
9.1.3 North America Downhole Tools Market Forecasts and Analysis - By Type
9.1.4 North America Downhole Tools Market Forecasts and Analysis - By Application
9.1.5 North America Downhole Tools Market Forecasts and Analysis - By Countries
9.1.5.1 United States Downhole Tools Market
9.1.5.1.1 United States Downhole Tools Market by Type
9.1.5.1.2 United States Downhole Tools Market by Application
9.1.5.2 Canada Downhole Tools Market
9.1.5.2.1 Canada Downhole Tools Market by Type
9.1.5.2.2 Canada Downhole Tools Market by Application
9.1.5.3 Mexico Downhole Tools Market
9.1.5.3.1 Mexico Downhole Tools Market by Type
9.1.5.3.2 Mexico Downhole Tools Market by Application
9.2. EUROPE
9.2.1 Europe Downhole Tools Market Overview
9.2.2 Europe Downhole Tools Market Forecasts and Analysis
9.2.3 Europe Downhole Tools Market Forecasts and Analysis - By Type
9.2.4 Europe Downhole Tools Market Forecasts and Analysis - By Application
9.2.5 Europe Downhole Tools Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Downhole Tools Market
9.2.5.1.1 Germany Downhole Tools Market by Type
9.2.5.1.2 Germany Downhole Tools Market by Application
9.2.5.2 France Downhole Tools Market
9.2.5.2.1 France Downhole Tools Market by Type
9.2.5.2.2 France Downhole Tools Market by Application
9.2.5.3 Italy Downhole Tools Market
9.2.5.3.1 Italy Downhole Tools Market by Type
9.2.5.3.2 Italy Downhole Tools Market by Application
9.2.5.4 United Kingdom Downhole Tools Market
9.2.5.4.1 United Kingdom Downhole Tools Market by Type
9.2.5.4.2 United Kingdom Downhole Tools Market by Application
9.2.5.5 Russia Downhole Tools Market
9.2.5.5.1 Russia Downhole Tools Market by Type
9.2.5.5.2 Russia Downhole Tools Market by Application
9.2.5.6 Rest of Europe Downhole Tools Market
9.2.5.6.1 Rest of Europe Downhole Tools Market by Type
9.2.5.6.2 Rest of Europe Downhole Tools Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Downhole Tools Market Overview
9.3.2 Asia-Pacific Downhole Tools Market Forecasts and Analysis
9.3.3 Asia-Pacific Downhole Tools Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Downhole Tools Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Downhole Tools Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Downhole Tools Market
9.3.5.1.1 Australia Downhole Tools Market by Type
9.3.5.1.2 Australia Downhole Tools Market by Application
9.3.5.2 China Downhole Tools Market
9.3.5.2.1 China Downhole Tools Market by Type
9.3.5.2.2 China Downhole Tools Market by Application
9.3.5.3 India Downhole Tools Market
9.3.5.3.1 India Downhole Tools Market by Type
9.3.5.3.2 India Downhole Tools Market by Application
9.3.5.4 Japan Downhole Tools Market
9.3.5.4.1 Japan Downhole Tools Market by Type
9.3.5.4.2 Japan Downhole Tools Market by Application
9.3.5.5 South Korea Downhole Tools Market
9.3.5.5.1 South Korea Downhole Tools Market by Type
9.3.5.5.2 South Korea Downhole Tools Market by Application
9.3.5.6 Rest of Asia-Pacific Downhole Tools Market
9.3.5.6.1 Rest of Asia-Pacific Downhole Tools Market by Type
9.3.5.6.2 Rest of Asia-Pacific Downhole Tools Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Downhole Tools Market Overview
9.4.2 Middle East and Africa Downhole Tools Market Forecasts and Analysis
9.4.3 Middle East and Africa Downhole Tools Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Downhole Tools Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Downhole Tools Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Downhole Tools Market
9.4.5.1.1 South Africa Downhole Tools Market by Type
9.4.5.1.2 South Africa Downhole Tools Market by Application
9.4.5.2 Saudi Arabia Downhole Tools Market
9.4.5.2.1 Saudi Arabia Downhole Tools Market by Type
9.4.5.2.2 Saudi Arabia Downhole Tools Market by Application
9.4.5.3 U.A.E Downhole Tools Market
9.4.5.3.1 U.A.E Downhole Tools Market by Type
9.4.5.3.2 U.A.E Downhole Tools Market by Application
9.4.5.4 Rest of Middle East and Africa Downhole Tools Market
9.4.5.4.1 Rest of Middle East and Africa Downhole Tools Market by Type
9.4.5.4.2 Rest of Middle East and Africa Downhole Tools Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Downhole Tools Market Overview
9.5.2 South and Central America Downhole Tools Market Forecasts and Analysis
9.5.3 South and Central America Downhole Tools Market Forecasts and Analysis - By Type
9.5.4 South and Central America Downhole Tools Market Forecasts and Analysis - By Application
9.5.5 South and Central America Downhole Tools Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Downhole Tools Market
9.5.5.1.1 Brazil Downhole Tools Market by Type
9.5.5.1.2 Brazil Downhole Tools Market by Application
9.5.5.2 Argentina Downhole Tools Market
9.5.5.2.1 Argentina Downhole Tools Market by Type
9.5.5.2.2 Argentina Downhole Tools Market by Application
9.5.5.3 Rest of South and Central America Downhole Tools Market
9.5.5.3.1 Rest of South and Central America Downhole Tools Market by Type
9.5.5.3.2 Rest of South and Central America Downhole Tools Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. DOWNHOLE TOOLS MARKET, KEY COMPANY PROFILES
11.1. ATEC, INC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. BAKER HUGHES
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BILCO TOOLS INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. COIL SOLUTIONS INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. HALLIBURTON ENERGY SERVICES, INC.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. NATIONAL OILWELL VARCO
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SCHLUMBERGER LIMITED
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. UNITED DRILLING TOOLS LTD
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. WEATHERFORD INTERNATIONAL LTD.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. WENZEL DOWNHOLE TOOLS LTD.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. ATEC, INC.
2. Baker Hughes
3. Bilco Tools Inc.
4. Coil Solutions Inc.
5 .Halliburton Energy Services, Inc.
6. National Oilwell Varco
7. Schlumberger Limited
8. United Drilling Tools LTD
9. Weatherford International Ltd.
10. Wenzel Downhole Tools Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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