Oilfield tools are used for the exploration and production of oil from oil wells. These tools are used by major E&P operators for upstream activities such as drilling, well completion and production, well intervention, pressure pumping, and so on. The oilfield tools include down-hole tools, coiled tubing tools, pressure & flow control tools, thru-tubing tools, and wireline tools to provide oilfield services such as wireline services, coiled tubing services, pressure pumping services, and so on.
The energy demand in Asia-Pacific has increased due to the growth in population, improvement in economic conditions, and an increase in industrial development. The oilfield tools market in Asia-Pacific is expected to grow at a CAGR of approximately 10% from 2014 to 2019.
Asia-Pacific is one of the fastest growing markets in the oilfield tools market. The increasing drilling and exploration activities on account of the increasing energy demand in countries such as China, India, Australia, and Indonesia drive the market. Countries such as China and Australia have huge oil & gas reserves, which is why it will grow in coming years. Regulatory policies and environmental issues are some of the major concerns that are likely to affect the oilfield tools market in Asia-Pacific.
China dominates the oilfield tools market in Asia-Pacific and holds a major share among other countries due to an increase in drilling activities.
The market is segmented and forecast based on type, application, and geography. On the basis of type, the market is segmented into drilling tools, production tools, well completion tools, well intervention tools, and others. The market is further segmented based on major countries such as China, India, Australia, Indonesia, Thailand, and others.
The market share analysis, by revenue, of the top companies has also been included in the report. The market share analysis of these key players have been arrived at, based on key facts, annual financial information, and interviews with key opinion leaders such as CEOs, directors, and marketing executives.
In order to present an in-depth understanding of the competitive landscape, the report on oilfield tools consists of company profiles of key market players. This report also includes the market share and value chain analyses, along with market metrics such as drivers and restraints.
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