Oil and Gas Fishing Tools Market 2019
Description: –
The latest market report forecasted that the worldwide market for the Oil and Gas Fishing Tools market will grow at a moderate Compound Annual Growth Rate (CAGR). Most of the market growth can be attributed to the increasing E&P- Exploration and Production activities, which is triggered by the increasing demand for energy throughout the world. It is expected that substantial growth of gas and oil industry will propel the growth in this market. On the other hand, demand or oil and gas are also rising.
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Key Players
Baker Hughes
Halliburton
National Oilwell Varco
Weatherford International
Bilco Tools
Atlas Copco
Logan Oil Tools
OTI
Wenzel Downhole Tools
Tube Technologies
In general, conventional fishing services are the process to recover unwanted machinal objects, immovable, and misplaced objects from the wellbore. Besides, fishing activities also include fishing services, such as removing obstruction from the wellbore, including stuck equipment, drill string components, and debris. Moreover, fishing activities also cover milling and retrieval activities. Growing demand for production and exploration activities across the globe is forecasted to propel the growth of this market during the forecast period. The expected CAGR is around 6 percent.
In the year 2018, some regions witnessed considerable profits in the Oil and Gas Fishing Tools market. As per the report, the completion of unconventional gas and oil resources, increasing deep water as well as ultra-deep-water reserves exploration, which is viable both economically as well as commercially are some of the primary factors that propel the global market growth. On the other side, technical advancement in this field is also expected to influence the global market in a positive way. However, high cost of the tools can somehow slow down the market growth rate.
Global Market Segmentation Analysis
The world Oil and Gas Fishing Tools market is segmented by tool type, application, and regions. On the basis of tool type, it is split into milling tools, safety joints, junk baskets, internal and external catching, jarring assemblies, tube, rod, and others. In this market report, the market experts have forecasted that internal and external catching segment will dominate this segment. By 2019, this segment covered more than 23 percent of the global market share owing to growing drilling activities. Based on application, it is segmented into onshore and offshore. The experts have predicted that onshore segment will enjoy maximum market shares in the coming years.
Regional Market Segmentation Analysis
Speaking about the geographical market segmentation of the Oil and Gas Fishing Tools market, this includes Europe, South America, North America, Asia Pacific, and Middle East & Africa. The report also comprises country-level gas and oil fishing tools market analysis. The countries included in the study report are the United States, the United Kingdom, Italy, GCC Countries, China, Japan, India, Russia, Germany, Australia, New Zealand, Korea, and others. The global market for such tools is rising, and North America’s regional market is anticipated to dominate the market during the forecast period. The increasing number of production and exploration activities by American countries is driving the market in this region.
Latest Market Updates
In October 2019, Atlas Copco successfully acquired the assets of Accurate Air Engineering and Compressed Air. Both the sister companies are located in California’s Los Angeles. They deal with the state’s sales and service activities. The new acquisition will help the company to develop strong footprints in that region. The company is also planning to acquire some new business in the future.
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Table of Contents – Major Key Points
1 Oil and Gas Fishing Tools Market Overview
2 Global Oil and Gas Fishing Tools Market Competition by Manufacturers
3 Global Oil and Gas Fishing Tools Capacity, Production, Revenue (Value) by Region (2012-2017)
4 Global Oil and Gas Fishing Tools Supply (Production), Consumption, Export, Import by Region (2012-2017)
5 Global Oil and Gas Fishing Tools Production, Revenue (Value), Price Trend by Type
6 Global Oil and Gas Fishing Tools Market Analysis by Application
7 Global Oil and Gas Fishing Tools Manufacturers Profiles/Analysis
8 Oil and Gas Fishing Tools Manufacturing Cost Analysis
Continued…
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