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Downhole Tools Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global downhole tools market size reached US$ 4.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.4 Billion by 2027, exhibiting a growth rate (CAGR) of 4.47% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor. 

Downhole tools refer to the equipment used for well drilling, interventions and completions. These tools aid in accessing the untapped oil remains beneath the surface and optimizing production levels of the oil wells. Some of the commonly used downhole tools include roller centralizers, drilling jars, drag friction, fishing, shock and tubular tools and drill pipes. These tools are used in the bottom hole assembly for workover operations and are highly efficient in high temperature and pressure conditions. They also aid in maintaining the desired flow and examining the properties of the reservoir by analyzing the quality of rock, sand and liquid samples on the well surface. 

 

 
 

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Downhole Tools Market Trends:

Significant growth in the oil and gas industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the increasing number of ultra-deep on-shore and off-shore drilling activities is providing a thrust to the market growth. Downhole tools are crucial for cementing, well bottom communications and fishing in oil and gas exploration activities. Additionally, various technological advancements, such as the development of automated and sustainable downhole tools for a higher rate of penetration (ROP) and minimal impact on the environment, are acting as other growth-inducing factors. Product manufacturers are also utilizing visualization and modeling tools to optimize, recreate and construct accurate well paths through the reservoir target. Other factors, including the implementation of favorable government policies, along with extensive research and development (R&D) activities, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global downhole tools market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product and application.

Breakup by Product:

 

 
 

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  • Drilling Tools
  • Handling Tools
  • Flow and Pressure Tools
  • Control Tools
  • Others
     

Breakup by Application:

  • Well Drilling
  • Well Intervention
  • Formation and Evaluation
  • Production and Well Completion
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Baker Hughes Company, Bilco Tools Inc, Halliburton Company, Innovex Downhole Solutions Inc., NOV Inc., Oil States International Inc., Schlumberger Limited, Schoeller-Bleckmann Oilfield Equipment AG, Ulterra Drilling Technologies LP, United Drilling Tools LTD, Weatherford International plc and Wenzel Downhole Tools Ltd. (Basin Tools LP).

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Product, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Baker Hughes Company, Bilco Tools Inc, Halliburton Company, Innovex Downhole Solutions Inc., NOV Inc., Oil States International Inc., Schlumberger Limited, Schoeller-Bleckmann Oilfield Equipment AG, Ulterra Drilling Technologies LP, United Drilling Tools LTD, Weatherford International plc and Wenzel Downhole Tools Ltd. (Basin Tools LP)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Questions Answered in This Report:

  • How has the global downhole tools market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global downhole tools market?
  • What are the key regional markets?
  • What is the breakup of the market based on the product?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global downhole tools market and who are the key players?
  • What is the degree of competition in the industry?

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Downhole Tools Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Product
    6.1    Drilling Tools
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Handling Tools
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Flow and Pressure Tools
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Control Tools
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    Others
        6.5.1 Market Trends
        6.5.2 Market Forecast
7   Market Breakup by Application
    7.1    Well Drilling
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Well Intervention
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Formation and Evaluation
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Production and Well Completion
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8   Market Breakup by Region
    8.1    North America
        8.1.1 United States
           8.1.1.1 Market Trends
           8.1.1.2 Market Forecast
        8.1.2 Canada
           8.1.2.1 Market Trends
           8.1.2.2 Market Forecast
    8.2    Asia-Pacific
        8.2.1 China
           8.2.1.1 Market Trends
           8.2.1.2 Market Forecast
        8.2.2 Japan
           8.2.2.1 Market Trends
           8.2.2.2 Market Forecast
        8.2.3 India
           8.2.3.1 Market Trends
           8.2.3.2 Market Forecast
        8.2.4 South Korea
           8.2.4.1 Market Trends
           8.2.4.2 Market Forecast
        8.2.5 Australia
           8.2.5.1 Market Trends
           8.2.5.2 Market Forecast
        8.2.6 Indonesia
           8.2.6.1 Market Trends
           8.2.6.2 Market Forecast
        8.2.7 Others
           8.2.7.1 Market Trends
           8.2.7.2 Market Forecast
    8.3    Europe
        8.3.1 Germany
           8.3.1.1 Market Trends
           8.3.1.2 Market Forecast
        8.3.2 France
           8.3.2.1 Market Trends
           8.3.2.2 Market Forecast
        8.3.3 United Kingdom
           8.3.3.1 Market Trends
           8.3.3.2 Market Forecast
        8.3.4 Italy
           8.3.4.1 Market Trends
           8.3.4.2 Market Forecast
        8.3.5 Spain
           8.3.5.1 Market Trends
           8.3.5.2 Market Forecast
        8.3.6 Russia
           8.3.6.1 Market Trends
           8.3.6.2 Market Forecast
        8.3.7 Others
           8.3.7.1 Market Trends
           8.3.7.2 Market Forecast
    8.4    Latin America
        8.4.1 Brazil
           8.4.1.1 Market Trends
           8.4.1.2 Market Forecast
        8.4.2 Mexico
           8.4.2.1 Market Trends
           8.4.2.2 Market Forecast
        8.4.3 Others
           8.4.3.1 Market Trends
           8.4.3.2 Market Forecast
    8.5    Middle East and Africa
        8.5.1 Market Trends
        8.5.2 Market Breakup by Country
        8.5.3 Market Forecast
9   SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10  Value Chain Analysis
11  Porters Five Forces Analysis

    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12  Price Analysis
13  Competitive Landscape

    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    Baker Hughes Company
           13.3.1.1 Company Overview
           13.3.1.2 Product Portfolio
           13.3.1.3 Financials
           13.3.1.4 SWOT Analysis
        13.3.2    Bilco Tools Inc
           13.3.2.1 Company Overview
           13.3.2.2 Product Portfolio
        13.3.3    Halliburton Company
           13.3.3.1 Company Overview
           13.3.3.2 Product Portfolio
           13.3.3.3 Financials
           13.3.3.4 SWOT Analysis
        13.3.4    Innovex Downhole Solutions Inc.
           13.3.4.1 Company Overview
           13.3.4.2 Product Portfolio
        13.3.5    NOV Inc.
           13.3.5.1 Company Overview
           13.3.5.2 Product Portfolio
           13.3.5.3 Financials
           13.3.5.4 SWOT Analysis
        13.3.6    Oil States International Inc.
           13.3.6.1 Company Overview
           13.3.6.2 Product Portfolio
           13.3.6.3 Financials
           13.3.6.4 SWOT Analysis
        13.3.7    Schlumberger Limited
           13.3.7.1 Company Overview
           13.3.7.2 Product Portfolio
           13.3.7.3 Financials
           13.3.7.4 SWOT Analysis
        13.3.8    Schoeller-Bleckmann Oilfield Equipment AG
           13.3.8.1 Company Overview
           13.3.8.2 Product Portfolio
           13.3.8.3 Financials
        13.3.9    Ulterra Drilling Technologies LP
           13.3.9.1 Company Overview
           13.3.9.2 Product Portfolio
        13.3.10    United Drilling Tools LTD
           13.3.10.1 Company Overview
           13.3.10.2 Product Portfolio
           13.3.10.3 Financials
        13.3.11    Weatherford International plc
           13.3.11.1 Company Overview
           13.3.11.2 Product Portfolio
           13.3.11.3 Financials
           13.3.11.4 SWOT Analysis
        13.3.12    Wenzel Downhole Tools Ltd. (Basin Tools LP)
           13.3.12.1 Company Overview
           13.3.12.2 Product Portfolio
           13.3.12.3 SWOT Analysis

List of Figures

Figure 1: Global: Downhole Tools Market: Major Drivers and Challenges
Figure 2: Global: Downhole Tools Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Downhole Tools Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Downhole Tools Market: Breakup by Product (in %), 2021
Figure 5: Global: Downhole Tools Market: Breakup by Application (in %), 2021
Figure 6: Global: Downhole Tools Market: Breakup by Region (in %), 2021
Figure 7: Global: Downhole Tools (Drilling Tools) Market: Sales Value (in Million US$), 2016 & 2021
Figure 8: Global: Downhole Tools (Drilling Tools) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: Global: Downhole Tools (Handling Tools) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Downhole Tools (Handling Tools) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Downhole Tools (Flow and Pressure Tools) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Downhole Tools (Flow and Pressure Tools) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Downhole Tools (Control Tools) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Downhole Tools (Control Tools) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Downhole Tools (Other Products) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Downhole Tools (Other Products) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Downhole Tools (Well Drilling) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Downhole Tools (Well Drilling) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Downhole Tools (Well Intervention) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Downhole Tools (Well Intervention) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Downhole Tools (Formation and Evaluation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Downhole Tools (Formation and Evaluation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Downhole Tools (Production and Well Completion) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Downhole Tools (Production and Well Completion) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Downhole Tools (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Downhole Tools (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: North America: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: North America: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: United States: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: United States: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Canada: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Canada: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Asia-Pacific: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Asia-Pacific: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: China: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: China: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Japan: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Japan: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: India: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: India: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: South Korea: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: South Korea: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Australia: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Australia: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Indonesia: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Indonesia: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Others: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Others: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Europe: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Europe: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Germany: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Germany: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: France: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: France: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: United Kingdom: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: United Kingdom: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Italy: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Italy: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Spain: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Spain: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Russia: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Russia: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Others: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Others: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Latin America: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Latin America: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Brazil: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Brazil: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Mexico: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Mexico: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Others: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Others: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Middle East and Africa: Downhole Tools Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Middle East and Africa: Downhole Tools Market: Breakup by Country (in %), 2021
Figure 75: Middle East and Africa: Downhole Tools Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Global: Downhole Tools Industry: SWOT Analysis
Figure 77: Global: Downhole Tools Industry: Value Chain Analysis
Figure 78: Global: Downhole Tools Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Downhole Tools Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Downhole Tools Market Forecast: Breakup by Product (in Million US$), 2022-2027
Table 3: Global: Downhole Tools Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 4: Global: Downhole Tools Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: Global: Downhole Tools Market: Competitive Structure
Table 6: Global: Downhole Tools Market: Key Players


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