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Downhole Tools Market Estimated to Reach $4.21 Billion by 2019 - New Report by MarketsandMarkets
Date:8/18/2014

arket capture. This is a result of vast R&D activities. The market has also seen expansion of facilities so as to increase the global footprint, by major downhole tools manufacturers.

North America: Largest Market for Floating Production Systems

North America is leading the global Downhole Tools Market owing to the drilling activities in the US and Gulf of Mexico region. Also the shale exploration activities are growing the region. U.S. has emerged as the leader in these activities and also in offshore exploration. These factors have helped the regional market to grow at a good pace and become a dominating market in downhole tools.

Drilling Tools: Biggest Market by Type

Drilling tools are the largest type of downhole tools employed in the oil and gas activities. They are the largest segment of the downhole tools employed in the well bore capturing most of the downhole hole market share. These tools are available according to the requirement of the well bore depending upon the downhole conditions.

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Well Intervention:

The application of downhole tools is growing in Well Intervention applications. In these processes a number of downhole tools are used and it is done more often than any other application of these tools. Some of the downhole tools that us in well intervention process are fishing tools, tubing tools, wire-line tools and others.

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