HOME Top Market Reports Downhole Tools Market by Tool Type (Flow & Pressure Control, Drilling, Impurity Control, Downhole Control, and Handling), Application (Drilling, Completion, Well Intervention, Formation & Evaluation, and Oil & Gas Production) & by Region - Global Trends & Forecast to 2019

Downhole Tools Market by Tool Type (Flow & Pressure Control, Drilling, Impurity Control, Downhole Control, and Handling), Application (Drilling, Completion, Well Intervention, Formation & Evaluation, and Oil & Gas Production) & by Region - Global Trends & Forecast to 2019

By: marketsandmarkets.com
Publishing Date: June 2015
Report Code: EP 3489

 

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Downhole tools play an important role in oil & gas exploration and production activities with applications in a variety of operations such as fishing, casing, cementing, well bottom communication, drilling, logging, fracturing, and well measurements. The market for downhole tools is estimated to be USD 3.53 Billion in 2014 and is projected to grow with a CAGR of 4.9% from 2014 to 2019.

Market growth for downhole tools has been strongly impacted by the oil price decline. E&P capital expenditures in 2015 have witnessed more than 20% investment dip in comparison to 2014. This is further expected to decline in 2016 by another 5 to 10%. However, from the end of 2017 and after, oil price is anticipated to stabilize and start climbing to reach at least $80 a barrel by 2018 rejuvenating the overall market growth.

Research Methodology

This research study involves extensive usage of secondary sources, directories, and databases (such as Hoovers, Bloomberg, Businessweek, Factiva, and OneSource) to identify and collect information useful for this technical, market-oriented, and commercial aspects of downhole tools. The below explain the research methodology.

  • Ongoing exploration and production activities in various regions is studied
  • Exploration and production spending historical trend and current years’ spending is studied
  • Major regions were identified along with countries contributing the maximum share to drilling
  • Key market players were identified; revenues and industry trends along with top down approach were used to estimate market value.
  • Oil price decline across regions and key countries is analysed and impact on downhole tools market is analyzed
  • Overall market size is determined by forecasting techniques based on number of investments, developments of downhole tools, expected product launch and demand of downhole tools for different applications.

After arriving at the overall market size the total market has been split into several segments. The figure below shows the break-down of the primaries on the basis of company designation, and region, conducted during the research study.

Downhole Tools Market

Downhole Tools Market

Study answers several questions for the stakeholders which include downhole tool manufacturers, oil & gas field operators, consulting firms in oil & gas sector, offshore production and exploration associations and other stakeholders. It gives them information about market segments to focus in next two to five years for prioritizing the efforts and investments.

Scope of the Report:

The global downhole tools market has been analyzed in terms of revenue ($million) for the aforesaid applications, types, and by regions.

By Region

  • Asia-Pacific
  • Europe
  • North America
  • South & Central America
  • Middle East

By Application

  • Well Drilling
  • Well Completion
  • Well Intervention
  • Formation & Evaluation
  • Oil & Gas Production

By Type

  • Flow & Pressure Control Tools
  • Impurity Control Tools
  • Drilling Tools
  • Downhole Control Tools
  • Handling Tools

Available Customization

With the market data provided above, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

  • Detailed analysis and profiling of additional market players (Up to 5)

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Market Size Estimation
           2.1.1 Market Breakdown & Data Triangulation
    2.2 Market Share Estimation
           2.2.1 Key Data From Secondary Sources
           2.2.2 Key Data From Primary Sources
    2.3 Assumptions

3 Executive Summary (Page No. - 22)
    3.1 North America Occupied Largest Market Share in this Market in 2013
    3.2 North America & Asia Pacific are Expected to Dominate this Market During the Forecast Period
    3.3 Well Intervention is Key Application in Downhole Tools 

4 Premium Insights (Page No. - 25)
    4.1 Attractive Opportunities in this Market
    Increasing E& P Activities Will Create Growth Opportunities in the Downhole Tools Market 25
    4.2 North America & Asia-Pacific Held More Than Half of the Market Share
    4.3 Downhole Tools Market Size, By Tool Type, 2014
    Drilling Tools Were Estimated to Occupy Largest Market Share in 2014 26
    4.4 Downhole Tools Market Size, By Application, 2019
    Oil & Gas Production Market to Grow at A Faster Rate During Forecast Period 27
    4.5 Downhole Tools Market: Developed vs. Developing Nations
    4.6 Life Cycle Analysis, By Region

5 Market Overview (Page No. - 30)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Application
           5.2.2 By Type
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Tapping Energy Potential of Shale Gas Reserves
                    5.3.1.2 Increased Lateral/Directional Drilling
                    5.3.1.3 Ultra-Deep Drilling Activities
           5.3.2 Restraints
                    5.3.2.1 Access to Reserve: Political Issues & Technological Incompetence
                    5.3.2.2 Declining Crude Oil Prices
           5.3.3 Opportunity
                    5.3.3.1 Increase in the Number of Mature Oil & Gas Fields
           5.3.4 Challenge
                    5.3.4.1 Strict Government Regulations
    5.4 Impact of Market Dynamics
    5.5 Winning Imperatives
                    5.5.1.1 Focus on New Product & Technology Launches
                    5.5.1.2 Facility Expansion
    5.6 Impact of the Decline in Oil Prices

6 Industry Trends (Page No. - 37)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat of Substitutes
           6.3.2 Threat of New Entrants
           6.3.3 Bargaining Power of Buyers
           6.3.4 Bargaining Power of Suppliers
           6.3.5 Degree of Competition

7 Market, By Application (Page No. - 41)
    7.1 Introduction
        Well Intervention Application Estimated to Hold Largest Market Share
    7.2 By Application
           7.2.1 Well Intervention
           7.2.2 Well Completion
           7.2.3 Well Drilling
           7.2.4 Oil & Gas Production
           7.2.5 Formation & Evaluation
    7.3 Regional Analysis
           7.3.1 North America
                    7.3.1.1 Well Intervention
                    7.3.1.2 Well Completion
                    7.3.1.3 Well Drilling
                    7.3.1.4 Oil & Gas Production
                    7.3.1.5 Formation & Evaluation
           7.3.2 Europe
                    7.3.2.1 Well Intervention
                    7.3.2.2 Well Completion
                    7.3.2.3 Well Drilling
                    7.3.2.4 Oil & Gas Production
                    7.3.2.5 Formation & Evaluation
           7.3.3 South & Central America
                    7.3.3.1 Well Intervention
                    7.3.3.2 Well Completion
                    7.3.3.3 Well Drilling
                    7.3.3.4 Oil & Gas Production
                    7.3.3.5 Formation & Evaluation
           7.3.4 Africa
                    7.3.4.1 Well Intervention
                    7.3.4.2 Well Completion
                    7.3.4.3 Well Drilling
                    7.3.4.4 Oil & Gas Production
                    7.3.4.5 Formation & Evaluation
           7.3.5 Middle East
                    7.3.5.1 Well Intervention
                    7.3.5.2 Well Completion
                    7.3.5.3 Well Drilling
                    7.3.5.4 Oil & Gas Production
                    7.3.5.5 Formation & Evaluation
           7.3.6 Asia-Pacific
                    7.3.6.1 Well Intervention
                    7.3.6.2 Well Completion
                    7.3.6.3 Well Drilling
                    7.3.6.4 Oil & Gas Production
                    7.3.6.5 Formation & Evaluation

8 Market, By Tool-Type (Page No. - 65)
    8.1 Introduction
        Drilling Tools Occupied Largest Market Share in Downhole Tools Market
    8.2 Flow & Pressure Control Tools
    8.3 Drilling Tools
    8.4 Impurity Control Tools
    8.5 Downhole Control Tools
    8.6 Handling Tools

9 Market, By Region (Page No. - 71)
    9.1 Introduction
    North America has Dominated this Market
    9.2 Regional Analysis
           9.2.1 North America
           9.2.2 Europe
           9.2.3 Africa
           9.2.4 Middle East
           9.2.5 Asia-Pacific
                 Asia-Pacific:Emrging & High Potential Market for Downhole Tools
           9.2.6 South & Central America
    9.3 Country-Wise Analysis
           9.3.1 U.S. & Gom
           9.3.2 Russia
           9.3.3 Mexico
           9.3.4 Egypt
           9.3.5 Oman
           9.3.6 China
           9.3.7 India
           9.3.8 Thailand
           9.3.9 Brazil
           9.3.10 Canada
           9.3.11 Saudi Arabia

10 Competitive Landscape (Page No. - 85)
     10.1 Overview
     10.2 Market Share Analysis, By Key Players
     10.3 Competitive Situation & Trends
          New Product & Technology Launches is the Key Strategy
     10.4 New Product Developments
     10.5 Contracts & Agreements
     10.6 Mergers & Acquisitions
     10.7 Expansions
     10.8 Other Developments

11 Company Profiles (Page No. - 95)
     11.1 Introduction
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     11.2 Schlumberger Ltd.
     11.3 Halliburton Co. 
     11.4 Saint Gobain
     11.5 Baker Hughes
     11.6 Weatherford International Ltd.
     11.7 National Oilwell Varco Inc.
     11.8 Oil States International Inc. 
     11.9 Moog Inc. 
     11.10 Schoeller Bleckmann Oilfield Equipment AG
     11.11 Anton Oilfield Services Ltd. 
     11.12 Logan Oil Tools Inc. 
     11.13 Wenzel Downhole Tools Ltd. 
     11.14 United Drilling Tools Ltd. 
     11.15 Excalibre Downhole Tools Ltd. 
     11.16 Bilco Tools Inc.

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 146)
     12.1 Insights of Industry Experts
     12.2 Major Developments 2011-2014
     12.3 Discussion Guide
     12.4 Introducing RT: Real Time Market Intelligence
     12.5 Available Customizations
     12.6 Related Reports


List of Tables (65 Tables)

Table 1 Impact Analysis of Market Dynamics
Table 2 Downhole Tools Market Size, By Application, 2012-2019 ($Million)
Table 3 Well Intervention Market Size, By Region, 2012-2019 ($Million)
Table 4 Well Completion Market Size, By Region, 2012-2019 ($Million)
Table 5 Well Drilling Market Size, By Region, 2012-2019 ($Million)
Table 6 Oil & Gas Production Market Size, By Region, 2012-2019 ($Million)
Table 7 Formation & Evaluation Market Size, By Region, 2012-2019 ($Million)
Table 8 North America: Well Intervention Market Size, By Country,2012-2019 ($Million)
Table 9 North America: Well Completion Market Size, By Country,2012-2019 ($Million)
Table 10 North America: Well Drilling Market Size, By Country,2012-2019 ($Million)
Table 11 North America: Oil & Gas Production Market Size, By Country,2012-2019 ($Million)
Table 12 North America: Formation & Evaluation Market Size, By Country,2012-2019 ($Million)
Table 13 Europe: Well Intervention Market Size, By Country,2012-2019 ($Million)
Table 14 Europe: Well Completion Market Size, By Country, 2012-2019 ($Million)
Table 15 Europe: Well Drilling Market Size, By Country, 2012-2019 ($Million)
Table 16 Europe: Oil & Gas Production Market Size, By Country,2012-2019 ($Million)
Table 17 Europe: Formation & Evaluation Market Size, By Country,2012-2019 ($Million)
Table 18 South & Central America: Well Intervention Market Size, By Country, 2012-2019($Million)
Table 19 South & Central America: Well Completion Market Size, By Country, 2012-2019($Million)
Table 20 South & Central America: Well Drilling Market Size, By Country,2012-2019($Million)
Table 21 South & Central America: Oil & Gas Production Market Size, By Country, 2012-2019 ($Million)
Table 22 South & Central America: Formation & Evaluation Market Size, By Country, 2012-2019 ($Million)
Table 23 Africa: Well Intervention Market Size, By Country, 2012-2019 ($Million)
Table 24 Africa: Well Completion Market Size, By Country, 2012-2019 ($Million)
Table 25 Africa: Well Drilling Market Size, By Country, 2012-2019 ($Million)
Table 26 Africa: Oil & Gas Production Market Size, By Country,2012-2019 ($Million)
Table 27 Africa: Formation & Evaluation Market Size, By Country,2012-2019 ($Million)
Table 28 Middle East: Well Intervention Market Size, By Country,2012-2019 ($Million)
Table 29 Middle East: Well Completion Market Size, By Country,2012-2019 ($Million)
Table 30 Middle East: Well Drilling Market Size, By Country,2012-2019 ($Million)
Table 31 Middle East: Oil & Gas Production Tools Market Size, By Country,2012-2019 ($Million)
Table 32 Middle East: Formation & Evaluation Market Size, By Country,2012-2019 ($Million)
Table 33 Asia-Pacific: Well Intervention Market Size, By Country,2012-2019 ($Million)
Table 34 Asia-Pacific: Well Completion Market Size, By Country,2012-2019 ($Million)
Table 35 Asia-Pacific: Well Drilling Market Size, By Country, 2012-2019 ($Million)
Table 36 Asia-Pacific: Oil & Gas Production Market Size, By Country,2012-2019 ($Million)
Table 37 Asia-Pacific: Formulation Evaluation Market Size, By Country,2012-2019 ($Million)
Table 38 Downhole Tools Market Size, By Tool-Type, 2012-2019 ($Million)
Table 39 Flow & Pressure Control Tools Market Size, By Region,2012-2019 ($Million)
Table 40 Drilling Tools Market Size, By Region, 2012-2019 ($Million)
Table 41 Impurity Control Tools Market Size, By Region, 2012-2019 ($Million)
Table 42 Downhole Control Tools Market Size, By Region, 2012-2019 ($Million)
Table 43 Handling Tools Market Size, By Region, 2012-2019 ($Million)
Table 44 Downhole Tools Market Size, By Region, 2012–2019 ($Million)
Table 45 North America: Downhole Tools Market Size, By Country,2012–2019 ($Million)
Table 46 Europe: Downhole Tools Market Size, By Country, 2012–2019 ($Million)
Table 47 Africa: Downhole Tools Market Size, By Country, 2012–2019 ($Million)
Table 48 Middle East: Downhole Tools Market Size, By Country,2012–2019 ($Million)
Table 49 Asia-Pacific: Downhole Tools Market Size, By Country,2012–2019 ($Million)
Table 50 South & Central America: Downhole Tools Market Size, By Country, 2012–2019 ($Million)
Table 51 U.S. & Gom: Downhole Tools Market, By Application,2012-2019 ($Million)
Table 52 Russia: Downhole Tools Market Size, By Application,2012-2019 ($Million)
Table 53 Mexico: Downhole Tools Market Size, By Application,2012-2019 ($Million)
Table 54 Egypt: Downhole Tools Market Size, By Application,2012-2019 ($Million)
Table 55 Oman: Downhole Tools Market Size, By Application,2012-2019 ($Million)
Table 56 China: Downhole Tools Market Size, By Application,2012-2019 ($Million)
Table 57 India: Downhole Tools Market Size, By Application, 2012-2019 ($Million)
Table 58 Thailand: Downhole Tools Market Size, By Application,2012-2019 ($Million)
Table 59 Brazil: Downhole Tools Market Size, By Application,2012-2019 ($Million)
Table 60 Canada: Downhole Tools Market Size, By Application,2012-2019 ($Million)
Table 61 Saudi Arabia: Downhole Tools Market Size, By Application,2012-2019 ($Million)
Table 62 New Product Developments, 2014
Table 63 Contracts & Agreements, 2014
Table 64 Mergers & Acquisitions, 2015
Table 65 Expansions, 2014
 
 
List of Figures (55 Figures)
 
Figure 1 Downhole Tools Market: Research Design
Figure 2 Market Size Estimation Methodology: Top-Down Approach
Figure 3 Break Down of Primary Interviews: By Company Type, Designation, & Region
Figure 4 Data Triangulation Methodology
Figure 5 North America Occupied the Largest Market Share in this Market in 2013
Figure 6 North America & Asia-Pacific are Expected to Dominate this Market During the Forecast Period
Figure 7 Downhole Tools Market Share (Value), By Application, 2014 & 2019
Figure 8 Increasing E&P Activities Will Create Growth Opportunities in the Downhole Tools Market
Figure 9 Downhole Tools Market Share (Value), By Region, 2013
Figure 10 Drilling Tools Were Estimated to Occupy the Largest Market Share in 2014
Figure 11 Oil& Gas Production Market to Grow at A Faster Rate in the Downhole Tools Market During 2014-2019
Figure 12 Developing Economies to Grow Faster Than the Developed Ones During 2014-2019
Figure 13 Africa & Asia-Pacific Market is Expected to Have High Growth Rate During 2014-2019
Figure 14 Market Dynamics for Downhole Tools Market
Figure 15 WTI Oil Price Trend From January 2014 to January 2015
Figure 16 Sudden Decline in Brent Crude Oil Prices Since Mid 2014
Figure 17 Value Chain Analysis: Downhole Tools Market
Figure 18 Porter’s Five Forces Analysis: Downhole Tools Market
Figure 19 Downhole Tools Market Share (Value), By Application, 2014
Figure 20 Downhole Tools Market Share (Value), By Tool-Type, 2014
Figure 21 Downhole Tools Market Share (Value), By Region, 2014
Figure 22 North America Downhole Tools Market Snapshot, 2014
Figure 23 Asia-Pacific Downhole Tools Market Snapshot, 2014
Figure 24 Companies Adopted New Product & Technology Launches as the Key Growth Strategy in 2014
Figure 25 Downhole Tools Market Grew at the Highest Rate During 2011–2014
Figure 26 Schlumberger Held A Major Share in this Market, 2014
Figure 27 Market Evaluation Framework
Figure 28 Battle for Market Share: New Product & Technology Launches is the Key Strategy
Figure 29 Geographic Revenue Mix of the Top Five Market Players
Figure 30 Schlumberger Ltd.: Company Snapshot
Figure 31 Schlumberger Ltd.: SWOT Analysis
Figure 32 Halliburton Co.: Company Snapshot
Figure 33 Halliburton: SWOT Analysis
Figure 34 Saint Gobain: Company Snapshot
Figure 35 Saint Gobain: SWOT Analysis
Figure 36 Baker Hughes: Company Snapshot
Figure 37 Baker Hughes: SWOT Analysis
Figure 38 Weatherford International: Company Snapshot
Figure 39 Weatherford International: SWOT Analysis
Figure 40 National Oilwell Varco Inc.: Company Snapshot
Figure 41 National Oilwell Varco, Inc.: SWOT Analysis
Figure 42 Oil States International Inc.: Company Snapshot
Figure 43 Oil States International: SWOT Analysis
Figure 44 Moog Inc.: Company Snapshot
Figure 45 Moog Inc.: SWOT Analysis
Figure 46 Schoeller Bleckmann Oilfield Equipment AG.: Company Snapshot
Figure 47 Schoeller Bleckmann Oilfield Equipment: SWOT Analysis
Figure 48 Anton Oilfield Services Ltd.: Company Snapshot
Figure 49 Anton Oilfield Services Ltd.: SWOT Analysis
Figure 50 Logan Oil Tools Inc.: Company Snapshot
Figure 51 Logan Oil Tools Ltd.: SWOT Analysis
Figure 52 Wenzel Downhole Tools Ltd.: Company Snapshot
Figure 53 Wenzel Downhole Tools Ltd.: SWOT Analysis
Figure 54 United Drilling Tools Ltd.: Company Snapshot
Figure 55 United Drilling Tools Ltd.: SWOT Analysis

The global downhole tools market is estimated to reach $4.49 Billion by 2019, at a CAGR of 4.9%, signifying a high demand for these tools for well intervention purposes.

Downhole tools play an important role in oil & gas exploration and production activities. Downhole tools are employed for workover and completion activities of a well in the Bottom Hole Assembly (BHA). Downhole tools are selected based on the formation characteristics of the reservoir and the rate of penetration to be achieved. These tools find application in a variety of operations, such as fishing, casing, cementing, well bottom communication, drilling, logging, fracturing, and well measurements. The rising demand for advanced tools that function optimally in high pressure and temperature conditions has also been a driver of this market.

Discovery of shale gas reserves and ultra-deep drilling activities: Driver of downhole tools market.

North America dominated the global market with a share of 42% in 2013. However, Africa is expected to grow at a faster rate with the highest CAGR of 8.2% during the forecast period. This is mainly because of new hydrocarbons discoveries in Africa. Well intervention forms the major application of downhole tools and accounts for a market share of 29%.

Downhole Tools Market Share (Value), by Region, 2014

Downhole Tools Market

Source: MarketsandMarkets Analysis

The top players in the downhole tools market include National Oilwell Varco, Inc. (U.S.), Logan Oil Tools Inc. (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), Schoeller Bleckmann Oilfield Equipment AG (Austria), and Schlumberger (U.S.).

New Product development: Key Strategy

Most of these companies mainly rely on growth strategies such as new product launch, joint ventures & contracts, mergers & acquisitions, and investments & expansions in diversified geographic areas. The risk of failure involved in the industry is high due to new and innovative technologies being introduced in the market. Hence, to enhance market penetration and share the expenditure along with risks, the companies have opted to develop new products.

The major downhole tools include flow and pressure control, impurity control, drilling, downhole control systems, and handling tools. Drilling downhole tools held the largest market share, in terms of value, in 2014.

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