Market Overview:
The global oil and gas downhole tool market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for oil and gas across the globe. In addition, the increasing investments in exploration and production activities are also contributing to the growth of this market. The global oil and gas downhole tool market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into downhole control tool, packer, workover tool, and others. The downhole control tools segment is expected to grow at a higher CAGR during the forecast period as compared to other segments owing to its growing demand in upstream applications such as drilling & completion operations and production operations. On the basis of application, it can be classified into land-based applications and maritime-based applications.
Product Definition:
An oil and gas downhole tool is a device used in the petroleum industry to help with the exploration and production of oil and gas. These tools can include anything from drilling rigs to pumps and valves. They are essential for getting the resources out of the ground, transporting them to where they need to go, and refining them into usable products.
Downhole Control Tool:
The global downhole control tool market size was valued at USD 8.5 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period. The growing demand for enhanced oil recovery (EOR) techniques due to increasing production from mature wells across the globe is anticipated to drive growth over the coming years.
Packer:
Packer is a device used in the oil & gas industry for lowering the permeability of rock. It creates artificial fractures in formations to enable easier extraction of hydrocarbons. The process involves pumping fluid into a wellbore, which then opens up natural fractures within the formation and allows easy flow of fluids and gases to/from surface.
The global packer market size was valued at USD 1,867 million in 2016.
Application Insights:
The land application segment dominated the global oil & gas downhole tool market in 2017, accounting for over 60.0% share of the total revenue. The growth can be attributed to increasing investments by O&G companies in order to extract hydrocarbons from beneath land surfaces. As per estimates by DeGolyer and MacNaughton (D&M), there are approximately 1,500-2,000 active exploration projects across the globe; out of which around 200 are located in Africa and another 150 are located across Latin America and Asia Pacific regions.
Maritime applications include offshore as well as onshore activities pertaining to exploration or production of hydrocarbons from beneath water surfaces within a certain range off shore locations.
Regional Analysis:
North America dominated the global market in 2017. The U.S., which is the largest oil producer in North America, has been witnessing continuous developments with respect to offshore drilling activities since 2010s. The country also witnessed a significant increase in onshore shale plays from 2011 to 2016, which resulted into high demand for downhole tools over this period.
Asia Pacific is expected to be one of the fastest-growing regions during forecast years due to increasing number of active wells and growing demand for efficient downhole tools across various applications such as land, marine and unconventional sources such as tight oil/shale gas (Vietnam). Furthermore, rising government investments coupled with favorable regulations are anticipated to drive regional growth over next eight years.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization in developing countries
- Rising investment in exploration and production activities by oil and gas companies
- Technological advancements in downhole tool design and manufacturing processes
- Growing popularity of horizontal drilling and hydraulic fracturing techniques
- Stringent environmental regulations governing the oil & gas industry
Scope Of The Report
Report Attributes
Report Details
Report Title
Oil & Gas Downhole Tool Market Research Report
By Type
Downhole Control Tool, Packer, Workover Tool, Others
By Application
Land, Maritime
By Companies
Baker Hughes, Halliburton, Schlumberger, National Oilwell Varco Inc., Weatherford International Ltd., SJS Ltd., Anton Oilfield Services Group, Shandong Molong Petroleum Machinery Co., Ltd., Dril-Quip (TIW), Baker Hughes
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
174
Number of Tables & Figures
122
Customization Available
Yes, the report can be customized as per your need.
Global Oil & Gas Downhole Tool Market Report Segments:
The global Oil & Gas Downhole Tool market is segmented on the basis of:
Types
Downhole Control Tool, Packer, Workover Tool, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Land, Maritime
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Baker Hughes
- Halliburton
- Schlumberger
- National Oilwell Varco Inc.
- Weatherford International Ltd.
- SJS Ltd.
- Anton Oilfield Services Group
- Shandong Molong Petroleum Machinery Co., Ltd.
- Dril-Quip (TIW)
- Baker Hughes
Highlights of The Oil & Gas Downhole Tool Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Downhole Control Tool
- Packer
- Workover Tool
- Others
- By Application:
- Land
- Maritime
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Oil & Gas Downhole Tool Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Oil & Gas Downhole Tool is a specialized tool used in the oil and gas industry to help drillers reach difficult-to-reach areas.
Some of the key players operating in the oil & gas downhole tool market are Baker Hughes, Halliburton, Schlumberger, National Oilwell Varco Inc., Weatherford International Ltd., SJS Ltd., Anton Oilfield Services Group, Shandong Molong Petroleum Machinery Co., Ltd., Dril-Quip (TIW), Baker Hughes.
The oil & gas downhole tool market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Oil & Gas Downhole Tool Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Oil & Gas Downhole Tool Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Oil & Gas Downhole Tool Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Oil & Gas Downhole Tool Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Oil & Gas Downhole Tool Market Size & Forecast, 2018-2028
4.5.1 Oil & Gas Downhole Tool Market Size and Y-o-Y Growth
4.5.2 Oil & Gas Downhole Tool Market Absolute $ Opportunity
Chapter 5 Global Oil & Gas Downhole Tool Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Oil & Gas Downhole Tool Market Size Forecast by Type
5.2.1 Downhole Control Tool
5.2.2 Packer
5.2.3 Workover Tool
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Oil & Gas Downhole Tool Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Oil & Gas Downhole Tool Market Size Forecast by Applications
6.2.1 Land
6.2.2 Maritime
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Oil & Gas Downhole Tool Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Oil & Gas Downhole Tool Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Oil & Gas Downhole Tool Analysis and Forecast
9.1 Introduction
9.2 North America Oil & Gas Downhole Tool Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Oil & Gas Downhole Tool Market Size Forecast by Type
9.6.1 Downhole Control Tool
9.6.2 Packer
9.6.3 Workover Tool
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Oil & Gas Downhole Tool Market Size Forecast by Applications
9.10.1 Land
9.10.2 Maritime
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Oil & Gas Downhole Tool Analysis and Forecast
10.1 Introduction
10.2 Europe Oil & Gas Downhole Tool Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Oil & Gas Downhole Tool Market Size Forecast by Type
10.6.1 Downhole Control Tool
10.6.2 Packer
10.6.3 Workover Tool
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Oil & Gas Downhole Tool Market Size Forecast by Applications
10.10.1 Land
10.10.2 Maritime
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Oil & Gas Downhole Tool Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Oil & Gas Downhole Tool Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Oil & Gas Downhole Tool Market Size Forecast by Type
11.6.1 Downhole Control Tool
11.6.2 Packer
11.6.3 Workover Tool
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Oil & Gas Downhole Tool Market Size Forecast by Applications
11.10.1 Land
11.10.2 Maritime
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Oil & Gas Downhole Tool Analysis and Forecast
12.1 Introduction
12.2 Latin America Oil & Gas Downhole Tool Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Oil & Gas Downhole Tool Market Size Forecast by Type
12.6.1 Downhole Control Tool
12.6.2 Packer
12.6.3 Workover Tool
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Oil & Gas Downhole Tool Market Size Forecast by Applications
12.10.1 Land
12.10.2 Maritime
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Oil & Gas Downhole Tool Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Oil & Gas Downhole Tool Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Oil & Gas Downhole Tool Market Size Forecast by Type
13.6.1 Downhole Control Tool
13.6.2 Packer
13.6.3 Workover Tool
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Oil & Gas Downhole Tool Market Size Forecast by Applications
13.10.1 Land
13.10.2 Maritime
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Oil & Gas Downhole Tool Market: Competitive Dashboard
14.2 Global Oil & Gas Downhole Tool Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Baker Hughes
14.3.2 Halliburton
14.3.3 Schlumberger
14.3.4 National Oilwell Varco Inc.
14.3.5 Weatherford International Ltd.
14.3.6 SJS Ltd.
14.3.7 Anton Oilfield Services Group
14.3.8 Shandong Molong Petroleum Machinery Co., Ltd.
14.3.9 Dril-Quip (TIW)
14.3.10 Baker Hughes
