Oilfield tools are used for 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 rising oil extraction along with the technological advancement and investment in onshore and offshore exploration & production activities are driving the European oilfield tools market. The oilfield tools market in Europe is expected to grow approximately at a CAGR of 8% from 2014 to 2019.
Due to the growing energy demand, exploration and production activities are on the rise. The offshore drilling activities are increasing in Russia and North Sea on account of the growing energy demand and maturity of onshore fields. These activities are the major driving factors for the oilfield tools market. Regulatory policies and environmental issues are some of the major concerns that are likely to affect the oilfield tools market.
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 Russia, Norway, U.K., 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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