Oil & Gas Production Industry to Grow at a Faster Rate in the Downhole Tools Market

1. Oil & Gas Production Industry to Grow at a Faster Rate in the Downhole Tools Market Downhole Tools are the basic tools employed at the bottom hole level for various applications like Well Drilling, Well Completion, Well Intervention, Formation & Evaluation, and Oil & Gas Production. These tools are essential for all the services that are related to oil and gas industry. Downhole Tools play an important role in oil & gas exploration and production activities with applications in a variety of operations such as fishing, casing, cementing, well bottom communication, drilling, logging, fracturing, and well measurements. Downhole tools are employed for workover and completion activities of a well in the Bottom Hole Assembly (BHA). Downhole Tools Market is expected to grow from an estimated USD 3.53 Billion in 2014 to USD 4.49 Billion by 2020, at a CAGR of 4.9% from 2014 to 2019, signifying a high demand for these tools. The rising demand for advanced tools that function optimally in high pressure and temperature conditions has also been a driver of this market. To Know More about Downhole Tools Industry, Download PDF Brochure@ http://bit.ly/2eqGMkX Scope of the Report: By Region Asia-Pacific  Europe  North America  South & Central America  Middle East  By Application Well Drilling  Well Completion  Well Intervention  Formation & Evaluation  Oil & Gas Production  Request for Sample of the Report@ http://bit.ly/2eqAqSr The major downhole tools include flow and pressure control, impurity control, drilling, downhole control systems, and handling tools.

2. The top players in the downhole tools market include National Oilwell Varco, Inc. (U.S.), Logan Oil Tools Inc. (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), Schoeller Bleckmann Oilfield Equipment AG (Austria), and Schlumberger (U.S.). For a Discussion on the above findings, Speak to our Analyst@http://bit.ly/2iNAm4e About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: MarketsandMarkets™ 701 Pike Street Suite 2175, Seattle, WA 98101, United States Email: sales@marketsandmarkets.com