New Market Report: Global Oil and Gas Fishing Tools Market 2015-2019

Global Oil and Gas Fishing Tools Market 2015-2019

Covering: This market research provides a detailed analysis and segmentation of the global oil and gas fishing tools market by tool type (internal & external catching, milling tools, jarring assemblies, junk baskets, accessories, remedial and repair, washover, drillpipe and casing cutters, safety joints, and reverse units and power swivels), by application (onshore and offshore), and by geography (EMEA, APAC, and the Americas). Key vendors are Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, and Weatherford International.

Market outlook of the global oil and gas fishing tools market

Technavio market research analysts estimate the global oil and gas fishing tools market to show moderate growth during the forecast period. Much of this growth can be attributed to the growing exploration and production (E&P) activities, which is driven by the escalating demand for energy from across the globe. Also, the recent increase in offshore drilling and completion activities is envisaged to result in this markets healthy revenue generation capacity of around USD 4 billion by 2019.

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Geographically, the Americas are expected to account for more than 59% of the total market share by 2019. The completion of unconventional oil and gas resources coupled with the rise in exploration of deep and ultra-deep water reserves that are commercially and economically viable are some of the major factors that incite market growth in this region during the forecast period.

Segmentation by tool type and analysis of the oil and gas fishing tools market

Internal & external catching

Milling tools

Jarring assemblies

Junk baskets

Accessories

Remedial and repair

Washover

Drillpipe and casing cutters

Safety joints

Reverse units and power swivels

In this market research report, Technavio analysts estimate the internal and external catching segment to dominate over all the other segments during the forecast period. This segment is envisaged to account for more than 21% of the total market share by 2019 and is heavily influenced by factors like the recent increase in drilling and well completion activities.

Application-based segmentation of the oil and gas fishing tools market

Offshore

Onshore

Technavios market research analyst estimates the onshore segment to be the largest market segment during the forecast period. The prospects for growth in this segment are driven by factors like the increasing focus on unconventional reserves like shale gas and tar sands reservoirs, which results in its impressive market share of more than 65% by 2019.

Competitive landscape and key vendors

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