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 rising oil extraction along with the increased government support and investments in onshore and offshore exploration and production activities drive the global oilfield tools market. The oilfield tools market in Africa is expected to grow at a CAGR of approximately 10% from 2014 to 2019.
Africa is one of the growing markets in the oilfield tools market. The drilling activities have increased in Egypt and Libya owing to the presence of high onshore and offshore oil & gas reserves, and to meet the growing energy demand. The entry of foreign players has become profitable and viable in Africa due to improved socio-political conditions, thus contributing to the growth of the region.
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 Egypt, Angola, Nigeria, Libya, and others.
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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