Insights on the Global Downhole Drilling Tools Market 2020-2024 | COVID-19 Analysis, Drivers, Restraints, Opportunities and Threats | Technavio

The global downhole drilling tools market size is expected to grow by USD 3.65 billion 2020-2024, progressing at a CAGR of 3% during the forecast period. Download Free Sample Report

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The increase in oil and gas E&P activities, and new exploration policies are among the major factors propelling market growth. However, factors such as growing adoption of alternative energy sources are hampering market growth.

Exploration and production (E&P) are upstream oil and gas activities, which have undergone several improvements with recent technological advances. For example, the development of data-oriented, sensitive equipment has helped in the accurate identification of the underlying reserves without the need to undertake actual drilling. On the basis of the data obtained from seismic acquisitions, E&P activities are carried out. Therefore, such E&P activities are becoming more common in recent times. For instance, in June 2019, the US Department of Energy's Fossil Energy Office selected 12 projects, which would receive USD 44.5 million in federal funding for cost-shared R&D of advanced technologies to recover unconventional oil and gas. Thus, the increase in oil and gas E&P activities is expected to drive the demand for downhole drilling tools, thereby fueling market growth.

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Global Downhole Drilling Tools Market: Product Landscape

Based on the product segmentation analysis, the tubulars segment is expected to witness lucrative growth during the forecast period. Due to the increasing demand for energy, E&P activities are increasing across the globe. The increase in E&P activities results in high demand for drilling tools. Tubulars are used as the primary tools for drilling, therefore, increased exploration activities will mean an increase in the use of tubulars.

Global Downhole Drilling Tools Market: Geographic Landscape

As per Technavio' s geographical segmentation, North America is expected to witness significant growth which will offer several growth opportunities to market vendors during the forecast period. The growth of the downhole drilling tools market in North America is attributed to the increased investments by governments and oil and gas companies.

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Companies Covered

• Baker Hughes Co.
• Halliburton Co.
• National Oilwell Varco Inc.
• Nine Energy Service Inc.
• RUBICON OILFIELD PRODUCTS LTD.
• Schlumberger Ltd.
• Schoeller-Bleckmann Oilfield Equipment AG
• Tasman Oil Tools Ltd.
• Weatherford International Plc
• Wenzel Downhole Tools

What our reports offer:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers market data for 2018, 2019, 2020, till 2024
• Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

   

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Downhole Drilling Tools Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist downhole drilling tools market growth during the next five years
• Estimation of the downhole drilling tools market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the downhole drilling tools market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of downhole drilling tools market, vendors

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product
• Tubulars - Market size and forecast 2019-2024
• Deflection and downhole motors - Market size and forecast 2019-2024
• Casing and cementing tools - Market size and forecast 2019-2024
• Drill bits - Market size and forecast 2019-2024
• Others - Market size and forecast 2019-2024
• Market opportunity by Product

Market Segmentation by Application

• Market segments
• Comparison by Application
• Onshore - Market size and forecast 2019-2024
• Offshore - Market size and forecast 2019-2024
• Market opportunity by Application

Customer Landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Baker Hughes Co.
• Halliburton Co.
• National Oilwell Varco Inc.
• Nine Energy Service Inc.
• RUBICON OILFIELD PRODUCTS LTD.
• Schlumberger Ltd.
• Schoeller-Bleckmann Oilfield Equipment AG
• Tasman Oil Tools Ltd.
• Weatherford International Plc
• Wenzel Downhole Tools

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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