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 continuous increase in oil production, along with the presence of large shell reserves and major multinational companies drive the North American oilfield tools market. This market is expected to grow at a CAGR of approximately 8% from 2014 to 2019.
North America is the major market in the oilfield tools market due to the highest drilling activity. The growing investments in onshore and offshore exploration, increasing energy demand, increased consumption, and continuous rise in drilling activities due to the recent discovery of shale gas drive the North American oilfield tools market. Regulatory policies and environmental issues are some of the major concerns that are likely to affect the oilfield tools market.
The U.S. dominates the oilfield tools market in North America 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 the U.S., Canada, and Mexico.
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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