New Market Research Report: Global Downhole Drilling Tools Market 2015-2019

Drilling is simply a process of making a holes in a surface for the extraction of oil and gas; these holes drilled for the extraction of oil is known as oil wells. Oil well is created by drilling a hole of 12 cm to 1 m in diameter with the help of a drill rig, which rotates the drill string with the other downhole drilling tools attached to it. The hole drilled is then cemented to maintain the well integrity and also isolates the formation fluids and high pressure zones from each other and the surface. 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. The commonly used downhole drilling tools are categorized in the following:

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* Cementing tools
* Tubulars
* Drill bits
* Miscellaneous downhole tools
* Downhole motors
* Deflection tools
* Impact tools
* Coiled tubing drilling tools
* Fishing tools
* Drill stem testing tools

TechNavio's analysts forecast the Global Downhole Drilling Tools market to grow at a CAGR of 10.20 percent over the period 2014-2019.

Covered in this Report

The report covers the present scenario and the growth prospects of the Global Downhole Drilling Tools market for the period 2015-2019. The report provides the segmentation of the market in terms of the following: type and geography.

TechNavio's report, the Global Downhole Drilling Tools Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Global Downhole Drilling Tools market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

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

Market Driver

* Increase in Global Oil and Gas Demand
* For a full, detailed list, view our report

Market Challenge

* Geopolitical Issues
* For a full, detailed list, view our report

Market Trend

* Technological Advancement
* For a full, detailed list, view our report

Key Questions Answered in this Report

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