LONDON, Nov. 19, 2014 /PRNewswire/ -- This report estimates the downhole tools market in terms of value in $million. This has been broken down into component regions and is further split into countries.
The downhole tools market is a fairly established tools industry in the oilfield equipment sector having a decent growth rate. The downhole tools industry is becomes very crucial when it comes to applications for which it can be adopted that ranges from flow and pressure control to the drilling and handling tools. Downhole tools are the tools used for efficient and effective production of oil and gas. It's robust and ruggedness built makes them easy to use in complex well situation. Downhole tools can also be used in high pressure and temperature conditions, when it becomes impossible for any other ordinary equipment to dig out the hydrocarbons. The stringent environmental regulations of the governments also drive the market.
We have used various secondary sources such as encyclopedias, directories, and databases to identify and collect information that was useful for this extensive commercial study of the global downhole tools market. The primary sources – experts and suppliers from the industry – have all been interviewed to obtain and verify critical information, as well as to assess the future prospects of the downhole tools market.
We have also profiled leading players of the industry, along with their recent developments and other strategic industry activities. Some of the key companies' profiles include Baker Hughes Inc. (U.S.), Schlumberger (U.S.), Halliburton (U.S.), Weatherford (Ireland), and Wenzel Downhole tools (Canada) and among others.
North-America dominates the global downhole tools market. In North America U.S. and Gulf of Mexico are the leaders in this segment with maximum developments in downhole tools market.
The downhole tools market is segmented into five major regions, namely North America, Latin America, Europe, Middle-East, Africa and Asia-Pacific. The market is further segmented on the basis of its types namely as flow & Pressure Control, Impurity Control, Drilling, Downhole Control Systems and Handling Tools and it's also segmented on the basis of its application covering Well Drilling, Well Completion, Well Intervention, Formation & Evaluation, and Oil & Gas Production. The report also touches upon various important aspects of the market. These include analysis of the value chain, Porter's Five Forces model and the competitive landscape of the market based on the developments of the key players.
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