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Increasing Demand for Oil & Gas Will Stimulate the Growth of the Global Downhole Drilling Tools Market through 2019

Reportstack has announced a new market research report on "Global Downhole Drilling Tools Market 2015-2019". With the increasing demand for oil and gas worldwide, the Global Downhole Drilling Tools Market is expected to grow at a CAGR of 10.20 percent from 2014-2019.

About the Report

The report draws attention to the expansion of oil and gas exploration and drilling activities, which is expected to stimulate market growth in the near future. The growing demand for oil and gas will drive large investments in this technology and increase efficiency of drilling tools, thus ensuring oil production.

“With the decline of easy oil worldwide, drilling activities like directional and deep-sea drilling will ensure the supply-demand balance by enhancing access to oil and gas in previously inaccessible formations,”.

The report also emphasizes advances in technology in downhole drilling tools that will boost the market in terms of demand. It will also improve drilling activities and redevelopment of mature and aged oilfields, thus facilitating drilling of unconventional resources like shale formation and better well management.

“Market vendors are increasing their investments in R&D, which is likely to improve reliability and efficiency of downhole drilling tools,” .

Key Information Covered in the Report:

Market segmentation, size and forecast through 2019

Market Growth Drivers:

Increased Demand for Oil and Gas Worldwide
For a full detailed list, view our report.

Market Challenges:

Increase in Geopolitical Issues
For a full detailed list, view our report.

Market Trends:

Advances in Technology
For a full detailed list, view our report.

Key Vendors:

Halliburton Co.
National OilWell Varco (NOV)
Schlumberger Ltd.
Weatherford International

Other Prominent Vendors:

American Oilfield Tools
Bilco Tools
Logan Oil Tools
Magnum Oil Tool International

Complete report available @  Global Downhole Drilling Tools Market 2015-2019.