Downhole Tools Market

Downhole Tools Market by Tool Type (Drilling Tool, Downhole Control Tool, Impurity Control Tool, Flow & Pressure Control Tool, and Handling Tool), Application (Well Drilling, Well Intervention, Well Completion & Production, Formation & Evaluation, and Oil & Gas Production), Location (Offshore [Deepwater, Ultra-deep Water, and Swallow Water] and Onshore), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030

  • Report ID: EP-4865
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 176
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The global downhole tools market size was USD 4 Bn in 2021 and is likely to reach USD 5 Bn by 2030, expanding at a CAGR of 5% during the forecast period, 2022 – 2030. The growth of the market is attributed to the extensive usage of downhole tools in well-drilling activities.

ownhole-tools-market-outlook

Downhole tools are the tools and equipment which are mainly used in the well drilling, completion, and intervention process. These tools find their prime applications in well drilling, well intervention, formation & evaluation, well completion & production, and oil & gas production. The main types of downhole tools are drilling tools, downhole control tools, impurity control tools, flow & pressure control tools, and handling tools. Downhole tools provide access to undeveloped oil resources below the surface and optimize oil well production levels.

Downhole tools help to maintain the desired flow by giving directional control over the machines and examine the properties of the reservoir by analyzing the quality of liquid samples, sand, rock, and other particles on the well surface. In fact, a variety of downhole tools are being employed in the bottom hole assembly for workover operations such as drilling jars, roller centralizers, tubular tools, drag friction, shock, fishing, shock, and drilling pipes. These tools are often equipped with elastomers that can operate and are highly efficient even under high pressure and temperature around and above 220 Celsius.

Downhole tools play a vital role in oil and gas industries and they are extensively used in production and exploration activities. These tools have a wide range of applications such as drilling, fishing, cementing, well measurement, well bottom communication, and others. Downhole tools enhance the efficiency of drilling operations and hence leads to the increasing adoption of this equipment. Downhole tools assist in optimizing levels of oil production without increasing energy consumption during the operational process.

COVID Impact on Global Downhole Tools Market

The global downhole tools market has experienced a negative impact, due to the emergence of the COVID-19 pandemic. The COVID-19 crisis-imposed lockdowns and restrictions, resulting in the temporary stopping of almost all manufacturing firms, affecting their supply chains, and leading to the downfall of the market economy. The COVID-19 crisis affected the downhole drilling tools market worldwide.

The market economy has declined significantly coupled with delays in production activities across the globe. For instance, on April 2020, Beach Energy Limited issued a contract termination to Diamond Offshore’s Ocean Onyx semi-submersible, a year-long offshore drilling project in the Otway basin in Southern Australia, owing to the increasing difficulties during the COVID-19 crisis.

Market Dynamics

The downhole tools market report presents a complete overview of market dynamics by focusing on the current market trends, existing drivers, growth opportunities, and emerging challenges that can shape the outcome or overall performance of the market during the forecast period, 2022 to 2030.

downhole-tools-market-dynamics

What is the Major Trend in the Global Downhole Tools Market?

Rising adoption of conventional drilling pipes

Conventional drilling pipes incorporated with downhole mud rotary motors are likely to streamline modern-day drilling activities. In recent years, these conventional pipes equipped with rotary motors are considered an ideal solution to apply drill bits wherein positive displacement rotors are being employed. Operators in the downhole tools technologies are increasingly focused on developing advanced tools that offer the most appropriate and cost-effective drilling solutions.

Increasing drilling activities across the globe

Downhole tools are majorly employed in oil drilling programs. Downhole equipment demand is rising across the oil and gas industries and is likely to influence the overall market growth. The oil drilling process is a complex one that engages with a number of machinery including drilling jars, reamers, stabilizers, drill bits, drilling mud motors, drilling pipes, and others. Downhole drilling tools are controlled from the surface with adjusting energy that is not subjected to drilling fluid or well depth.

Various types of downhole tools are increasingly adopted in the operational process during the production and exploration of hydrocarbons. For instance, flow control devices and pressure gauges are often utilized to monitor the pressure and flow of oil and gas. Furthermore, rapid technological advancement in drilling technologies is anticipated to boost market growth.

What Factors Drive the Demand for the Downhole Tools Market?

Surging oil and gas production and exploration activities

Downhole tools are largely employed in drilling activities of oil and gas production and in exploration activities across the globe. The growing number of both offshore and onshore drilling projects across the globe is anticipated to propel market growth. Additionally, increasing demand for gas in the form of household cooking and the rapidly growing density of the population, especially in developing countries is expected to fuel the downhole tools market growth.

Which Factors Limit the Growth of The Global Biological Safety Testing Market?

High initial investment in research & development

High initial investments and operational costs of downhole tools pose strong challenges to manufacturing companies. Extreme operational environments and uncertain weather conditions are projected to hinder market growth. Additionally, the volatility in crude oil prices that spikes sharply at some times and declines at other times is expected to hamper market expansion.

What are the Growth Opportunities in the Global Downhole Tools Market?

Ongoing research and developments in the drilling technologies

The increasing research and development activities that focus on the development of drill bits, drilling diagnostic, and wellbore integrity among others are creating growth opportunities in the downhole tools industry. The key operators in the downhole tool market are contributing effortlessly to new ways to develop dynamic advanced models and minimize drilling vibrations, and downhole telemetry.

Availability of advanced technological products

The growing emergence of technologically advanced products is anticipated to drive market growth. The development of electronic devices helps to convert low-pressure annulus signals into predetermined valve movements. The adoption of digital technology and computers in the drilling operation enhances smooth functioning resulting in high-end performance among the end-users. Additionally, the emergence of new-generation automated drilling technologies and tools is further anticipated to present many growth opportunities for the global downhole tool market expansion.

Scope of the Report

The report on the global downhole tools market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Downhole Tools Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019–2020

Forecast Period

2022–2030

Segmentation

Type (Drilling Tool, Downhole Control Tool, Impurity Control Tool, Flow & Pressure Control Tool, and Handling Tool), Application (Well Drilling, Well Intervention, Well Completion & Production, Formation & Evaluation, and Oil & Gas Production), and Location (Offshore [Deepwater, Ultra-deep Water, and Swallow Water] and Onshore)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Chlumberger Ltd.; National Oilwell Varco, Inc.; Baker Hughes Company; Halliburton Co.; Weatherford International Ltd; Omega Well Intervention; Saint Gobain; Schlumberger; Oil States International Inc.; Moog Inc.; Varel International Energy Services; Schoeller Bleckmann Oilfield Equipment AG; Stabiltec Downhole Tools, LLC; Anton Oilfield Services Ltd.; BILCO Tools, Inc; Logan Oil Tools Inc.; Wenzel Downhole Tools Ltd.; Vertex Downhole Ltd; United Drilling Tools Ltd.; and Excalibre Downhole Tools Ltd.

 

Market Segment Insights

What are the key factors driving the drilling tools segment?

Drilling tools segment is projected to contribute significant growth

Based on the tool types, the global downhole tools market is segmented as drilling tool, downhole control tool, impurity control tool, flow & pressure control tool, and handling tool. The drilling tools segment is projected to contribute significant growth in terms of market revenue during the forecast period. The segment growth is propelled by the extensive use of drilling tools in oil and gas production and exploration activities worldwide. Drilling tools are in high demand in the global market, owing to their ability to drill at various drilling operations including vast depths. Downhole drilling tools offer several benefits over other tools as the tools can be well controlled from the surface by adjusting energy.

downhole-tools-market-by-type

What are the key factors driving the well drilling segment?

Well drilling segment remained dominant in the market growth

On the basis of applications, the global downhole tools market is fragmented into well drilling, well intervention, well completion & production, formation & evaluation, and oil & gas production. The well drilling segment remained dominant in the market growth, owing to the increasing number of petroleum drilling activities around the world. The field drilling process for petroleum production is complicated as it requires high fleet management of drilling rigs. Thus, the rising demand for advanced drilling technologies and tools is anticipated to drive market growth. Additionally, high requirements of drilling tools for specific and precise drilling operations further drive segment growth.

downhole-tools-market-by-application

What are the key factors driving the onshore segment?

Onshore segment is accounting for major market revenue in 2021

Based on the locations, the global downhole tools market is bifurcated into offshore and onshore. The onshore segment is accounting for major market revenue in 2021. This is attributed to the surging onshore drilling activities such as drilling activities on dry lands with a market share of around 70% of worldwide oil production. Additionally, the discovery of new oil resources and increasing fracking activities further boost market growth.

Why is the demand for global downhole tools market high in North America?

North America is leading the downhole tools market

In terms of regions, the global downhole tools market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to account for a high market share during the forecast period. The market growth in North America is attributed to the emergence of a massive number of unconventional hydrocarbons and rising oil and gas exploration and production activities in the region. The occurrence of a large number of well-drilling activities in the region further boosts market growth. Additionally, the growing demand for crude oil and surging investment activities in shale gas exploration are projected to propel the downhole market in the region.

The market in North America is followed by Asia pacific. Asia Pacific is expected to contribute a significant market share, owing to the extensive participation of market players in oil and gas drilling projects in countries such as China and India. Middle East & Africa market is estimated to register robust growth during the forecasted period coupled with increasing offshore activities and rising demand for downhole technologies and equipment in the region.

downhole-tools-market-regions

Segments

The global downhole tools market has been segmented on the basis of

Type

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

Application

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

Location

  • Offshore
    • Deepwater
    • Ultra-deep Water
    • Swallow Water
  • Onshore

Region

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

Key Player

  • Chlumberger Ltd.
  • National Oilwell Varco, Inc.
  • Baker Hughes Company
  • Halliburton Co.
  • Weatherford International Ltd
  • Omega Well Intervention
  • Saint Gobain
  • Schlumberger
  • Oil States International Inc.
  • Moog Inc.
  • Varel International Energy Services,
  • Schoeller Bleckmann Oilfield Equipment AG
  • Stabiltec Downhole Tools, LLC
  • Anton Oilfield Services Ltd.
  • BILCO Tools, Inc
  • Logan Oil Tools Inc.
  • Wenzel Downhole Tools Ltd.
  • Vertex Downhole Ltd
  • United Drilling Tools Ltd.
  • Excalibre Downhole Tools Ltd.

Competitive Landscape

Key players competing in the global downhole tools market are Chlumberger Ltd.; National Oilwell Varco, Inc.; Baker Hughes Company; Halliburton Co.; Weatherford International Ltd; Omega Well Intervention; Saint Gobain; Schlumberger; Oil States International Inc.; Moog Inc.; Varel International Energy Services; Schoeller Bleckmann Oilfield Equipment AG; Stabiltec Downhole Tools, LLC; Anton Oilfield Services Ltd.; BILCO Tools, Inc; Logan Oil Tools Inc.; Wenzel Downhole Tools Ltd.; Vertex Downhole Ltd; United Drilling Tools Ltd.; and Excalibre Downhole Tools Ltd. Some of these players have adopted a series of business development strategies including merger and acquisition, entering into partnerships and collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
For instance

  • In January 2021, Schlumberger introduced Autonomous Directional Drilling, which comprises solutions to steer autonomously through any section of the wellbore. It leverages an intelligent and dynamic downhole automated control system that instantly interprets and acts on data.
  • In June 2021, Vertex Downhole Ltd announced a substantial upgrade to its LogIT software and related firmware for its industry-leading MWD tools. The company revealed that its Vertex MWD tool platform is a patented high-speed telemetry system, and its superior design offers significant savings in ongoing operating costs.
  • In March 2021, a renowned well intervention firm and downhole technology manufacturer, Omega Well Intervention and Wellpro Group announced its strategic partnership to provide downhole tools to Middle East and North African markets. The collaboration is planned to combine the intervention expertise of both firms.
downhole-tools-by-key-players
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Downhole Tools Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Downhole Tools Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Downhole Tools Market - Supply Chain
  4.5. Global Downhole Tools Market Forecast
     4.5.1. Downhole Tools Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Downhole Tools Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Downhole Tools Market Absolute $ Opportunity
5. Global Downhole Tools Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Downhole Tools Market Size and Volume Forecast by Types
     5.3.1. Drilling Tool
     5.3.2. Downhole Control Tool
     5.3.3. Impurity Control Tool
     5.3.4. Flow & Pressure Control Tool
     5.3.5. Handling Tool
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Downhole Tools Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Downhole Tools Market Size and Volume Forecast by Applications
     6.3.1. Well Drilling
     6.3.2. Well Intervention
     6.3.3. Well Completion & Production
     6.3.4. Formation & Evaluation
     6.3.5. Oil & Gas Production
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Downhole Tools Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Downhole Tools Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Downhole Tools Demand Share Forecast, 2019-2026
8. North America Downhole Tools Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Downhole Tools Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Downhole Tools Market Size and Volume Forecast by Types
     8.4.1. Drilling Tool
     8.4.2. Downhole Control Tool
     8.4.3. Impurity Control Tool
     8.4.4. Flow & Pressure Control Tool
     8.4.5. Handling Tool
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Downhole Tools Market Size and Volume Forecast by Applications
     8.7.1. Well Drilling
     8.7.2. Well Intervention
     8.7.3. Well Completion & Production
     8.7.4. Formation & Evaluation
     8.7.5. Oil & Gas Production
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Downhole Tools Demand Share Forecast, 2019-2026
9. Latin America Downhole Tools Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Downhole Tools Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Downhole Tools Market Size and Volume Forecast by Types
     9.4.1. Drilling Tool
     9.4.2. Downhole Control Tool
     9.4.3. Impurity Control Tool
     9.4.4. Flow & Pressure Control Tool
     9.4.5. Handling Tool
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Downhole Tools Market Size and Volume Forecast by Applications
     9.7.1. Well Drilling
     9.7.2. Well Intervention
     9.7.3. Well Completion & Production
     9.7.4. Formation & Evaluation
     9.7.5. Oil & Gas Production
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Downhole Tools Demand Share Forecast, 2019-2026
10. Europe Downhole Tools Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Downhole Tools Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
  10.4. Europe Downhole Tools Market Size and Volume Forecast by Types
     10.4.1. Drilling Tool
     10.4.2. Downhole Control Tool
     10.4.3. Impurity Control Tool
     10.4.4. Flow & Pressure Control Tool
     10.4.5. Handling Tool
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Downhole Tools Market Size and Volume Forecast by Applications
     10.7.1. Well Drilling
     10.7.2. Well Intervention
     10.7.3. Well Completion & Production
     10.7.4. Formation & Evaluation
     10.7.5. Oil & Gas Production
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Downhole Tools Demand Share Forecast, 2019-2026
11. Asia Pacific Downhole Tools Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Downhole Tools Market Size and Volume 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. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Downhole Tools Market Size and Volume Forecast by Types
     11.4.1. Drilling Tool
     11.4.2. Downhole Control Tool
     11.4.3. Impurity Control Tool
     11.4.4. Flow & Pressure Control Tool
     11.4.5. Handling Tool
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Downhole Tools Market Size and Volume Forecast by Applications
     11.7.1. Well Drilling
     11.7.2. Well Intervention
     11.7.3. Well Completion & Production
     11.7.4. Formation & Evaluation
     11.7.5. Oil & Gas Production
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Downhole Tools Demand Share Forecast, 2019-2026
12. Middle East & Africa Downhole Tools Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Downhole Tools Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Downhole Tools Market Size and Volume Forecast by Types
     12.4.1. Drilling Tool
     12.4.2. Downhole Control Tool
     12.4.3. Impurity Control Tool
     12.4.4. Flow & Pressure Control Tool
     12.4.5. Handling Tool
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Downhole Tools Market Size and Volume Forecast by Applications
     12.7.1. Well Drilling
     12.7.2. Well Intervention
     12.7.3. Well Completion & Production
     12.7.4. Formation & Evaluation
     12.7.5. Oil & Gas Production
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Downhole Tools Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Downhole Tools Market: Market Share Analysis
  13.2. Downhole Tools Distributors and Customers
  13.3. Downhole Tools Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Chlumberger Ltd.
     13.4.2. National Oilwell Varco, Inc.
     13.4.3. Baker Hughes Company
     13.4.4. Halliburton Co.
     13.4.5. Weatherford International Ltd
     13.4.6. Omega Well Intervention
     13.4.7. Saint Gobain
     13.4.8. Schlumberger
     13.4.9. Oil States International Inc.
     13.4.10. Moog Inc.
     13.4.11. Varel International Energy Services,
     13.4.12. Schoeller Bleckmann Oilfield Equipment AG
     13.4.13. Stabiltec Downhole Tools, LLC
     13.4.14. Anton Oilfield Services Ltd.
     13.4.15. BILCO Tools, Inc
     13.4.16. Logan Oil Tools Inc.
     13.4.17. Wenzel Downhole Tools Ltd.
     13.4.18. Vertex Downhole Ltd
     13.4.19. United Drilling Tools Ltd.
     13.4.20. Excalibre Downhole Tools Ltd.

The global downhole tools market has been segmented on the basis of

Type

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

Application

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

Location

  • Offshore
    • Deepwater
    • Ultra-deep Water
    • Swallow Water
  • Onshore

Region

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

Key Player

  • Chlumberger Ltd.
  • National Oilwell Varco, Inc.
  • Baker Hughes Company
  • Halliburton Co.
  • Weatherford International Ltd
  • Omega Well Intervention
  • Saint Gobain
  • Schlumberger
  • Oil States International Inc.
  • Moog Inc.
  • Varel International Energy Services,
  • Schoeller Bleckmann Oilfield Equipment AG
  • Stabiltec Downhole Tools, LLC
  • Anton Oilfield Services Ltd.
  • BILCO Tools, Inc
  • Logan Oil Tools Inc.
  • Wenzel Downhole Tools Ltd.
  • Vertex Downhole Ltd
  • United Drilling Tools Ltd.
  • Excalibre Downhole Tools Ltd.

Key players competing in the global downhole tools market are Chlumberger Ltd.; National Oilwell Varco, Inc.; Baker Hughes Company; Halliburton Co.; Weatherford International Ltd; Omega Well Intervention; Saint Gobain; Schlumberger; Oil States International Inc.; Moog Inc.; Varel International Energy Services; Schoeller Bleckmann Oilfield Equipment AG; Stabiltec Downhole Tools, LLC; Anton Oilfield Services Ltd.; BILCO Tools, Inc; Logan Oil Tools Inc.; Wenzel Downhole Tools Ltd.; Vertex Downhole Ltd; United Drilling Tools Ltd.; and Excalibre Downhole Tools Ltd. Some of these players have adopted a series of business development strategies including merger and acquisition, entering into partnerships and collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
For instance

  • In January 2021, Schlumberger introduced Autonomous Directional Drilling, which comprises solutions to steer autonomously through any section of the wellbore. It leverages an intelligent and dynamic downhole automated control system that instantly interprets and acts on data.
  • In June 2021, Vertex Downhole Ltd announced a substantial upgrade to its LogIT software and related firmware for its industry-leading MWD tools. The company revealed that its Vertex MWD tool platform is a patented high-speed telemetry system, and its superior design offers significant savings in ongoing operating costs.
  • In March 2021, a renowned well intervention firm and downhole technology manufacturer, Omega Well Intervention and Wellpro Group announced its strategic partnership to provide downhole tools to Middle East and North African markets. The collaboration is planned to combine the intervention expertise of both firms.
downhole-tools-by-key-players

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FAQ Section

Some frequently asked quetions about this report!

The global downhole tools market size was valued at around USD 4.10 billion in 2021.

North America dominates the global downhole tools market.

Chlumberger Ltd.; National Oilwell Varco, Inc.; Baker Hughes Company; Halliburton Co.; Weatherford International Ltd; Omega Well Intervention are some of the key players in the market.