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 rising energy demand along with increasing drilling activities and increased investments in onshore and offshore exploration drive the oilfield tools market in the Middle East. This market is expected to grow at a CAGR of approximately 9% from 2014 to 2019.
The Middle East is one of the growing markets in the oilfield tools market. The drilling and exploration activities have increased due to an increase in energy demand and existence of large number of oil & gas reserve in the region. Countries such as Iraq and Qatar are driven by increased drilling activities, while Saudi Arabia is the largest market due to a maximum number of wells and a growing economy.
Saudi Arabia dominates the oilfield tools market in the Middle East and holds a major share among other countries.
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 Oman, Saudi Arabia, Qatar, Iraq, 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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