Global Downhole Tools Market 2022-2026

Global Downhole Tools Market 2022-2026

Technavio has been monitoring the downhole tools market and it is poised to grow by $ 11.38 bn during 2022-2026, accelerating at a CAGR of 5.5% during the forecast period. Our report on the downhole tools market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising in unconventional oil and gas resources, the growing popularity of offshore field operations, and the discovery of new oilfields and refineries.

The downhole tools market analysis includes application segment and geographic landscape.

Technavio's downhole tools market is segmented as below:

By Application

• Drilling
• Well intervention
• Completion

By Geographical Landscape

• North America
• The Middle East and Africa
• Europe
• APAC
• South America

This study identifies the new-generation automated drilling rigs as one of the prime reasons driving the downhole tools market growth during the next few years. Also, the introduction of laser drilling and the rise in deep and ultra-deepwater drilling projects will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the downhole tools market covers the following areas:

• Downhole tools market sizing
• Downhole tools market forecast
• Downhole tools market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading downhole tools market vendors that include Aker Solutions ASA, AKITA Drilling Ltd., American Oilfield Tools Inc., Archer Ltd., Baker Hughes Co., Dril Quip Inc., General Electric Co., Halliburton Co., Hunting Plc, Innovex, NexTier Oilfield Solutions Inc., Nine Energy Service Inc., NOV Inc., Schlumberger Ltd., Schoeller Bleckmann Oilfield Equipment AG, Superior Energy Services Inc., Tasman Oil Tools Ltd., The Weir Group Plc, Tryton Tool Services, and Weatherford International Plc. Also, the downhole tools market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

Companies Mentioned

Aker Solutions ASA, AKITA Drilling Ltd., American Oilfield Tools Inc., Archer Ltd., Baker Hughes Co., Dril Quip Inc., General Electric Co., Halliburton Co., Hunting Plc, Innovex, NexTier Oilfield Solutions Inc., Nine Energy Service Inc., NOV Inc., Schlumberger Ltd., Schoeller Bleckmann Oilfield Equipment AG, Superior Energy Services Inc., Tasman Oil Tools Ltd., The Weir Group Plc, Tryton Tool Services, Weatherford International Plc