Downhole Tools Market Size, Share Global Analysis Report, 2020–2026

Industry Insights

According to the report published by Facts & Factors, the global Downhole Tools market size was worth around USD 3.2 billion in 2019 and is predicted to grow around USD 5.6 billion by 2026 with a compound annual growth rate (CAGR) of roughly 8% between 2020 and 2026.

The Downhole Tools market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire Downhole Tools market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD Billion) from FY 2016 – 2026.

This specialized and expertise-oriented industry research report scrutinizes the technical and commercial business outlook of the Downhole Tools industry. The report analyzes and declares the historical and current trends analysis of the Downhole Tools industry and subsequently recommends the projected trends anticipated to be observed in the Downhole Tools market during the upcoming years.

Key Insights from Primary Research

• As per our primary respondents, the downhole Tools market is set to grow annually at a rate of around 8%.
• It was established through primary research that the Downhole Tools market was valued at around USD 3.2 billion in 2019.
• After secondary research, we performed face to face interviews to validate our data. The insights interviewee’s declared that drilling is the most used type for the global Downhole Tools market.
• On the basis of the type, drilling dominated the global Downhole Tools market in 2019. It accounted for around 54% share of the total market in 2019.
• The good drilling segment, on the basis of application segmentation, was the leading revenue-generating category accounting for around 43% share, in 2019.

Key Recommendations from Analysts

• Based on the exhaustive secondary research done by our team, the Mobile Tankers type is anticipated to become the most demanding type in the upcoming years, owing to the growing demand for Downhole Tools from the water and oil & gas industry for various end-use applications.
• As per our analysts, North America recorded the highest market share of more than 37% by 2026, and the market is expected to bolster in this region, resulting in creating lucrative opportunities for new players.
• Growing at a CAGR around 8%, the Downhole Tools market provides numerous opportunities for all of the involved stakeholders across the entire value chain.
• Our analysts have identified drilling and well-drilling categories as the leading investment pockets for the Downhole Tools market in terms of product and application segmentation respectively.
• Our analysts recommend the emerging players focus on good drilling owing to the substantial growth of the water, oil & gas industry, especially in North-American and Middle-eastern regions.

Market Attractiveness – By Product

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the Downhole Tools industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the Downhole Tools industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the Downhole Tools market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the Downhole Tools industry. The Downhole Tools market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the Downhole Tools sector. Key strategic developments in the Downhole Tools market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the Downhole Tools market are appropriately highlighted in the report.

Due to ongoing discoveries in the oil and gas industry, coupled with an increasing number of mature areas, the downhole tool market is expected to reach a high level over the forecast period. Multinationals and well-established firms are also expected to compete strongly on the market.

The increase in shale and other resource exploration, particularly in the North American region, followed by Asia-Pacific and South & Central America, also contributed to the growth of the market. However, fluctuating oil prices may negatively affect the growth of the downhole tool market over the forecast period.

The Downhole Tools market research report delivers an acute valuation and taxonomy of the Downhole Tools industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the Downhole Tools industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the Downhole Tools industry is provided for the leading economies of the world.

The Downhole Tools market is segmented based on product and application.  On the basis of type segmentation, the market is classified into Drilling, Handling, and Flow & pressure control. In terms of Application segmentation, the market is bifurcated into Well drilling, Well intervention, and Production & well completion.

Report Scope

Some of the essential players operating in the Downhole Tools market, but not restricted include:

•  Antelope Oil Tool
•  American Block Manufacturing Co.
•  Archer
•  Cameron
•  Buckman Jet Drilling Inc
•  Canary USA
•  Enventure Global Technology
•  Downhole Oil Tools  Inc.
•  DoubleBarrel Downhole Technology
•  Drill King International

The taxonomy of the Downhole Tools Market by its scope and segmentation is as follows:

By Product Segmentation Analysis(Customizable)

• Drilling
• Handling
• Flow & pressure control

By Application Segmentation Analysis(Customizable)

• Well drilling
• Well Intervention
• Production & well completion

Regional Segmentation Analysis(Customizable)

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa