Global Downhole Tools Market - Forecast to Grow at a CAGR of 4.4% by 2021

DUBLIN, Dec. 8, 2017 /PRNewswire/ --

The "Global Downhole Tools Market 2017-2021" report has been added to Research and Markets' offering.

The analysts forecast the global downhole tools market to grow at a CAGR of 4.43% during the period 2017-2021.

The report, Global Downhole Tools Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

One trend in the market is new-generation automated drilling rigs. Accidents in the oil and gas industry have huge repercussions. Their cascading effects are staggering and containing the accident consequences are extremely challenging. Thus, it becomes crucial to reduce the human error and keep it to a minimum.

According to the report, one driver in the market is increase in oil rig count. During 2014, when the crude oil price was trading over $110/bbl, the global number of rig count was at its peak. There were several exploration and drilling projects that were being executed, with some in the beginning stages of production and new ones in the planning stage. For instance, in 2014, Shell announced that it started the production from second Mars platform in the deepwater Gulf of Mexico. The production was through Olympus, which is the company's seventh and largest floating deepwater platform in the Gulf of Mexico.

Further, the report states that one challenge in the market is increasing investments in renewable energy. Over the past few years, there has been a substantial increase in investments made toward renewable sources of energy. Although, governmental support is crucial for the renewable energy sector to flourish, companies belonging to this sector are successful in raising the money from the market. The growing environmental awareness among individuals has increased investments in the field of renewables. The renewable sector grew in 2015 despite the fall in oil and gas prices.

Key vendors

• General Electric
• Halliburton
• National Oilwell Varco
• Schlumberger
• Weatherford

Other prominent vendors

• Aker Solutions
• American Oilfield Tools
• Archer
• Dril-Quip
• C&J Energy Services
• Hunting
• Superior Energy Services
• Tryton Tool Services
• Vortex Tools
• Weir Group
• Xtreme Drilling

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation By Application

Part 09: Regional Landscape

Part 10: Decision Framework

Part 11: Drivers And Challenges

Part 12: Market Trends

Part 13: Vendor Landscape

Part 14: Vendor Analysis

Part 15: Key Vendor Analysis

For more information about this report visit https://www.researchandmarkets.com/research/cv6ntb/global_downhole

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SOURCE Research and Markets

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