Hole Opener For Oil & Gas Industry Report 2022

DUBLIN, March 27, 2023 /PRNewswire/ -- The "Hole Opener For Oil & Gas Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027: Segmented By Type (Fixed Diameter, Under-Reamers), By Well Type (Horizontal, Vertical), By Product Type, By Location, By Region" report has been added to  ResearchAndMarkets.com's offering.

Global hole opener for oil & gas market is projected to register CAGR growth in the forecast years, 2023-2027 on the account of growth factors like increasing demand for oil & gas.

Surging demand for better equipment and more efficient methods for oil excavation further drives the future growth of the global hole opener for oil & gas market in the upcoming five years. Oil and gas industry is ever growing and satisfying the growing needs for the non-renewable resource substantiates the market growth along with the concerns toward exhausting resource reservoirs.

Hole opener is a drilling rig equipment utilized during oil drilling to enlarge the borehole. The equipment is either placed above the drill bit itself or above the pilot run inside the existing borehole.

Majorly, the purpose of using the hole opener is to create more space for other drilling equipment to be inserted in the rig or for more efficient excavation of the oil & slurry from the particular rig. In other terms, the use of hole opener is done for hydrocarbon drilling operations, hydraulic drilling, and horizontal drilling.

The hole opener is available in various designs depending on the kind of rigs they are utilized in. Sizes of the hole opener varies from couple inches to 50 inches.

Demand For Oil Drives Market Growth

Rapidly increasing demand for the oil and gas in various industries including automotive industry and consumer demand for their energy utilization drives the growth of the global hole opener for oil & gas market in the upcoming five years.

Also, increased production of oil to compensate the increasing demand is also supporting the growth of the global hole opener for oil & gas market in the next five years.

According to the BP Statistical Review of World Energy, 2021 total oil production on a global level in the year 2020 was recorded to be 4165.1 million tonnes, out of which the United States accounted for 712.7 million tonnes of oil in 2020.

Same report also mentions that with large quantities of oil production, global oil consumption recorded in the year 2020 was 88,477 thousand barrels per day. These data confirm the demand for the efficient drilling equipment

Also, sophisticated drilling equipment usage for the oil production can not be replaced or compensated by any alternatives, thus demand for such highly specific nature equipment further substantiates the growth of the global hole opener for oil & gas market in the future five years.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global hole opener for oil & gas market.

• Superior Energy Services
• Transco Manufacturing Australia Private Limited
• Schlumberger Limited
• Hole Opener Corporation
• Drill King International
• Tasman Oil Tools
• Halliburton Company
• Baker Hughes

Report Scope:

Hole Opener For Oil & Gas Market, By Type:

• Fixed Diameter
• Under-Reamers

Hole Opener For Oil & Gas Market, By Well Type:

• Horizontal
• Vertical

Hole Opener For Oil & Gas Market, By Product Type:

• Fabricated
• Integral
• Small Rig Hole Openers (SRHO)

Hole Opener For Oil & Gas Market, By Location:

• Offshore
• Onshore

Hole Opener For Oil & Gas Market, By Region:

• North America
• United States
• Mexico
• Canada
• Europe
• France
• Germany
• United Kingdom
• Italy
• Spain
• Poland
• Denmark
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Singapore
• Malaysia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Iraq
• Turkey
• South America
• Brazil
• Argentina
• Colombia
• Peru
• Chile

For more information about this report visit https://www.researchandmarkets.com/r/fn9ugx

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets