Research & Markets: Global Downhole Drilling Tools Market 2015-2019 - Increase in Global Oil & Gas Demand with Halliburton, N...
March 03 2015 - 6:09AM
Business Wire
Research and Markets
(http://www.researchandmarkets.com/research/k393j2/global_downhole)
has announced the addition of the "Global Downhole Drilling Tools
Market 2015-2019" report to their offering.
The Global Downhole Drilling Tools market to grow at a CAGR of
10.2% over the period 2014-2019
Drilling downhole tools facilitate the drilling process and
counter significant challenges associated with drilling such as
extreme depth, high temperatures, and pressure differentials.
Downhole drilling tools guide or steer the wells through small
reservoir by changing the trajectory of the well. Currently, a
variety of downhole drilling tools are available in the market,
which can be used in BHA. Some downhole drilling tools are unique
and specific to the particular drilling operation while others are
generic in nature and can be used for multiple purposes.
One of the major trends is the advances in technology to improve
the efficiency and effectiveness of drilling tools. Advances in
drilling technology will significantly increase efficiency,
control, and monitoring of the well. Moreover, market vendors are
increasing their investments in R&D, which is likely to improve
reliability and efficiency of downhole drilling tools.
According to the report, increased demand for oil and gas
worldwide is one of the major growth drivers, which requires large
investments in advanced technologies to increase efficiency of
drilling activities. The growing demand for oil and gas will drive
large investment in state-of-the-art technology to increase
efficiency of downhole drilling tools, ensuring oil production.
Further, the report states that one of the major challenges in
the market is the availability of non-conventional and renewable
sources of energy. With the advent of peak oil theory, oil crisis,
finite nature of oil and gas supplies, and rising environmental and
human health concerns, renewable and sustainable sources of energy
have gained momentum, thus hindering the growth of the Global
Downhole Drilling Tools market.
The commonly used downhole drilling tools are categorized in the
following:
- Cementing tools
- Tubulars
- Drill bits
- Miscellaneous downhole tools
- Downhole motors
- Deflection tools
- Impact tools
- Coiled tubing drilling tools
- Fishing tools
- Drill stem testing tools
Key Vendors
- Halliburton
- National Oilwell Varco
- Schlumberger
- Weatherford
Other Prominent Vendors
- American Oilfield Tools
- Bilco Tools
- Logan Oil Tools
- Magnum Oil Tool International
- Oil Tools International Services
- Schoeller Bleckmann Oilfield Equipment
- Wenzel Downhole Tools
For more information visit
http://www.researchandmarkets.com/research/k393j2/global_downhole
Research and MarketsLaura Wood, Senior
Managerpress@researchandmarkets.comFor E.S.T Office Hours Call
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U.S.): +353-1-481-1716Sector: Exploration and Production