launchora_img

Illustration by @luciesalgado

Downhole Equipment Market Projected to Grow at a CAGR of ~5% during 2022 – 2031

Info

Research Nester published a report titled “Downhole Equipment Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global downhole equipment market in terms of market segmentation by tool type, application, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global downhole equipment market is estimated to grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of application into drilling, completion, well intervention, formation & evaluation, and others, out of which, the drilling segment is anticipated to hold the notable share over the forecast period. This can be attributed to the increasing investment in drilling of new oil wells to meet the growing oil demand globally.

Download Sample of This Strategic Report @https://www.researchnester.com/sample-request-3827

The global downhole equipment market is anticipated to grow on the back of increasing production, as well as, consumption of oil and gas across the world. According to the International Energy Agency (IEA), 164,626,034 exajoule (EJ) crude oil was produced globally in 2019. Moreover, increasing investment in drilling of new oil wells, is estimated to generate massive demand for downhole equipment. Further, the various applications of downhole equipment in oil and gas production, such as, fracturing, drilling, well measurement, and well bottom communication are estimated to boost the market growth.

On the basis of geographical analysis, the global downhole equipment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to garner largest share over the forecast period on the back of presence of large number of oil reserves in Canada, and the US, along with the rising consumption of oil in the region.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Curious about this latest version of report? Obtain Report Details @https://www.researchnester.com/reports/downhole-equipment-market/3827

Increasing Demand for Oil across the Globe to Boost the Market Growth

Oil and gas are the primary source of energy for various sectors, such as, transport, industrial, and others. As a result, there is a massive surge in the demand for oil, backed by the rising sale of vehicles. Such factors contribute to the increasing demand for drilling new oil well, which is further expected to boost the market growth.

However, fluctuating oil prices is expected to operate as key restraint to the growth of global downhole equipment market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global downhole equipment market which includes company profiling of Baker Hughes Company, Schoeller- Bleckmann Oilfield Equipment AG, Halliburton Company, Logan Oil Tools Inc., NOV Inc., American Block Manufacturing Co., WV Jet Drilling, LLC, Scientific Drilling International, and FMC Technologies, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global downhole equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Request a Sample Copy of Concerned Market Report @https://www.researchnester.com/sample-request-3827

About Research Nester

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

Contact Us

AJ Daniel

Email: info@researchnester.com

U.S. Phone: [+1 646 586 9123]

U.K. Phone: [+44 203 608 591]


Be the first to recommend this story!
launchora_img
More stories by Jacob
Caprolactone Market to Witness Growth by a Signifi...

Caprolactone Market to Witness Growth by a Significant CAGR Throughout 2022 – 2031

00
Esoteric Testing Market Projected to Grow at a CAG...

Esoteric Testing Market Projected to Grow at a CAGR of ~12% throughout 2022 – 2031

00
Marine Power Systems and Equipment Market to Witne...

Marine Power Systems and Equipment Market to Witness Growth by a Significant CAGR by 2031

00

Stay connected to your stories

Downhole Equipment Market Projected to Grow at a CAGR of ~5% during 2022 – 2031

22 Launches

Part of the Mystery collection

Published on January 12, 2022

Recommended By

(0)

    WHAT'S THIS STORY ABOUT?

    Characters left :

    Category

    • Life
      Love
      Poetry
      Happenings
      Mystery
      MyPlotTwist
      Culture
      Art
      Politics
      Letters To Juliet
      Society
      Universe
      Self-Help
      Modern Romance
      Fantasy
      Humor
      Something Else
      Adventure
      Commentary
      Confessions
      Crime
      Dark Fantasy
      Dear Diary
      Dear Mom
      Dreams
      Episodic/Serial
      Fan Fiction
      Flash Fiction
      Ideas
      Musings
      Parenting
      Play
      Screenplay
      Self-biography
      Songwriting
      Spirituality
      Travelogue
      Young Adult
      Science Fiction
      Children's Story
      Sci-Fantasy
      Poetry Wars
      Sponsored
      Horror
    Cancel

    You can edit published STORIES

    Language

    Delete Opinion

    Delete Reply

    Report Content


    Are you sure you want to report this content?



    Report Content


    This content has been reported as inappropriate. Our team will look into it ASAP. Thank You!



    By signing up you agree to Launchora's Terms & Policies.

    By signing up you agree to Launchora's Terms & Policies.