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Downhole Tools - Global Strategic Business Report

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    Report

  • 434 Pages
  • February 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4804765

Global Downhole Tools Market to Reach $8.4 Billion by 2030

The global market for Downhole Tools estimated at US$7.3 Billion in the year 2022, is projected to reach a revised size of US$8.4 Billion by 2030, growing at a CAGR of 1.9% over the analysis period 2022-2030. Well Drilling, one of the segments analyzed in the report, is projected to record a 2% CAGR and reach US$3.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Well Completion & Production segment is readjusted to a revised 2.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $2 Billion, While China is Forecast to Grow at 3.2% CAGR

The Downhole Tools market in the U.S. is estimated at US$2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2030 trailing a CAGR of 3.2% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.1% and 1.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 1.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2030.

Select Competitors (Total 322 Featured) -

  • Anton Oilfield Services Ltd.
  • Baker Hughes, a GE company
  • Bilco Tools, Inc.
  • Excalibre Downhole Tools Ltd.
  • Halliburton
  • Moog, Inc.
  • National Oilwell Varco, Inc.
  • Oil States International, Inc.
  • Schlumberger Ltd.
  • Schoeller-Bleckmann Oilfield Equipment AG
  • United Drilling Tools Ltd.
  • Weatherford International Ltd.
  • Wenzel Downhole Tools Ltd.


What's New?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Downhole Tools

What is the estimated value of the Global Market for Downhole Tools?

The Global Market for Downhole Tools was estimated to be valued at $7.3 Billion in 2022.

What is the growth rate of the Global Market for Downhole Tools?

The growth rate of the Global Market for Downhole Tools is 1.8%, with an estimated value of $8.4 Billion by 2030.

What is the forecasted size of the Global Market for Downhole Tools?

The Global Market for Downhole Tools is estimated to be worth $8.4 Billion by 2030.

Who are the key companies in the Global Market for Downhole Tools?

Key companies in the Global Market for Downhole Tools include Anton Oilfield Services Ltd., Baker Hughes, a GE company, Bilco Tools, Inc., Excalibre Downhole Tools Ltd., Halliburton, Moog, Inc., National Oilwell Varco, Inc., Oil States International, Inc., Schlumberger Ltd. and Schoeller.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Downhole Tools - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession
  • Downhole Tools: A Prelude
  • Major Markets for Downhole Tools
  • Key Market Players.
  • Product Overview
  • Product Definition & Types
  • Application of Downhole Tools
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • High Performance Downhole Tools Gather Demand
  • Artificial Intelligence Attracts Attention from Oil Companies
  • Industry Seeks Advancements in Sensor Technology
  • Rise in Drilling Activities Across the Globe Spurs Demadn for Downhole Tools
  • AI Adoption on Rise in Oil And Gas Industry
  • Factors Driving Growth in the Downhole Tools Market
  • Industry Moves towards Digital Technologies
  • Oil and Gas Inventories Worldwide: 2008-2020 (In Million Barrels)
  • Ongoing Demand for Technologically Advanced Tools is Driving the Downhole Tools Market.
  • North America - Oil & Gas Scenario
  • United States is one of the Largest Markets for Downhole Drilling Tools.
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Downhole Tools by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 2: World Historic Review for Downhole Tools by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 3: World 16-Year Perspective for Downhole Tools by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2023 & 2030
  • Table 4: World Downhole Tools Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • Table 5: World Recent Past, Current & Future Analysis for Well Drilling by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 6: World Historic Review for Well Drilling by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 7: World 16-Year Perspective for Well Drilling by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 8: World Recent Past, Current & Future Analysis for Well Completion & Production by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 9: World Historic Review for Well Completion & Production by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 10: World 16-Year Perspective for Well Completion & Production by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 11: World Recent Past, Current & Future Analysis for Well Intervention by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 12: World Historic Review for Well Intervention by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 13: World 16-Year Perspective for Well Intervention by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 14: World Recent Past, Current & Future Analysis for Formation & Evaluation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 15: World Historic Review for Formation & Evaluation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 16: World 16-Year Perspective for Formation & Evaluation by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Downhole Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • Table 17: USA Recent Past, Current & Future Analysis for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 18: USA Historic Review for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 19: USA 16-Year Perspective for Downhole Tools by Segment - Percentage Breakdown of Value Sales for Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation for the Years 2014, 2023 & 2030
CANADA
  • Table 20: Canada Recent Past, Current & Future Analysis for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 21: Canada Historic Review for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 22: Canada 16-Year Perspective for Downhole Tools by Segment - Percentage Breakdown of Value Sales for Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation for the Years 2014, 2023 & 2030
JAPAN
  • Downhole Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
  • Table 23: Japan Recent Past, Current & Future Analysis for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 24: Japan Historic Review for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 25: Japan 16-Year Perspective for Downhole Tools by Segment - Percentage Breakdown of Value Sales for Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation for the Years 2014, 2023 & 2030
CHINA
  • Downhole Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • Table 26: China Recent Past, Current & Future Analysis for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 27: China Historic Review for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 28: China 16-Year Perspective for Downhole Tools by Segment - Percentage Breakdown of Value Sales for Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation for the Years 2014, 2023 & 2030
EUROPE
  • Downhole Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • Table 29: Europe Recent Past, Current & Future Analysis for Downhole Tools by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 30: Europe Historic Review for Downhole Tools by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 31: Europe 16-Year Perspective for Downhole Tools by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets for Years 2014, 2023 & 2030
  • Table 32: Europe Recent Past, Current & Future Analysis for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 33: Europe Historic Review for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 34: Europe 16-Year Perspective for Downhole Tools by Segment - Percentage Breakdown of Value Sales for Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation for the Years 2014, 2023 & 2030
FRANCE
  • Downhole Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
  • Table 35: France Recent Past, Current & Future Analysis for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 36: France Historic Review for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 37: France 16-Year Perspective for Downhole Tools by Segment - Percentage Breakdown of Value Sales for Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation for the Years 2014, 2023 & 2030
GERMANY
  • Downhole Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
  • Table 38: Germany Recent Past, Current & Future Analysis for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 39: Germany Historic Review for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 40: Germany 16-Year Perspective for Downhole Tools by Segment - Percentage Breakdown of Value Sales for Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation for the Years 2014, 2023 & 2030
ITALY
  • Table 41: Italy Recent Past, Current & Future Analysis for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 42: Italy Historic Review for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 43: Italy 16-Year Perspective for Downhole Tools by Segment - Percentage Breakdown of Value Sales for Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation for the Years 2014, 2023 & 2030
UNITED KINGDOM
  • Downhole Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
  • Table 44: UK Recent Past, Current & Future Analysis for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 45: UK Historic Review for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 46: UK 16-Year Perspective for Downhole Tools by Segment - Percentage Breakdown of Value Sales for Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation for the Years 2014, 2023 & 2030
SPAIN
  • Table 47: Spain Recent Past, Current & Future Analysis for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 48: Spain Historic Review for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 49: Spain 16-Year Perspective for Downhole Tools by Segment - Percentage Breakdown of Value Sales for Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation for the Years 2014, 2023 & 2030
RUSSIA
  • Table 50: Russia Recent Past, Current & Future Analysis for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 51: Russia Historic Review for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 52: Russia 16-Year Perspective for Downhole Tools by Segment - Percentage Breakdown of Value Sales for Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation for the Years 2014, 2023 & 2030
REST OF EUROPE
  • Table 53: Rest of Europe Recent Past, Current & Future Analysis for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 54: Rest of Europe Historic Review for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 55: Rest of Europe 16-Year Perspective for Downhole Tools by Segment - Percentage Breakdown of Value Sales for Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation for the Years 2014, 2023 & 2030
ASIA-PACIFIC
  • Downhole Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • Table 56: Asia-Pacific Recent Past, Current & Future Analysis for Downhole Tools by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 57: Asia-Pacific Historic Review for Downhole Tools by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 58: Asia-Pacific 16-Year Perspective for Downhole Tools by Geographic Region - Percentage Breakdown of Value Sales for Australia, India, South Korea and Rest of Asia-Pacific Markets for Years 2014, 2023 & 2030
  • Table 59: Asia-Pacific Recent Past, Current & Future Analysis for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation - Independent Analysis of Annual Sales in US$ Million for the Years 2022 through 2030 and % CAGR
  • Table 60: Asia-Pacific Historic Review for Downhole Tools by Segment - Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 61: Asia-Pacific 16-Year Perspective for Downhole Tools by Segment - Percentage Breakdown of Value Sales for Well Drilling, Well Completion & Production, Well Intervention and Formation & Evaluation for the Years 2014, 2023 & 2030
AUSTRALIA
  • Downhole Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2023 (E)
INDIA
  • Downhole Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Downhole Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Downhole Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Downhole Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Anton Oilfield Services Ltd.
  • Baker Hughes, a GE company
  • Bilco Tools, Inc.
  • Excalibre Downhole Tools Ltd.
  • Halliburton
  • Moog, Inc.
  • National Oilwell Varco, Inc.
  • Oil States International, Inc.
  • Schlumberger Ltd.
  • Schoeller-Bleckmann Oilfield Equipment AG
  • United Drilling Tools Ltd.
  • Weatherford International Ltd.
  • Wenzel Downhole Tools Ltd.