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New Analysis from Global Industry Analysts Reveals Steady Growth for Downhole Tools, with the Market to Reach $5 Billion Worldwide by 2026

FACTS AT A GLANCE
Edition: 8; Released: April 2021
Executive Pool: 1288
Companies: 770 – Players covered include Anton Oilfield Services Ltd.; Baker Hughes, a GE company; Bilco Tools, Inc.; Excalibre Downhole Tools Ltd.; Halliburton; Moog, Inc.; National Oilwell Varco, Inc.; Oil States International, Inc.; Schlumberger Ltd.; Schoeller-Bleckmann Oilfield Equipment AG; United Drilling Tools Ltd.; Weatherford International Ltd.; Wenzel Downhole Tools Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Segment (Flow & Pressure Control, Drilling, Impurity Control, Downhole Control, Handling Tool)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Downhole Tools Market to Reach $5 Billion by 2026
Amid the COVID-19 crisis, the global market for Downhole Tools estimated at US$4.1 Billion in the year 2020, is projected to reach a revised size of US$5 Billion by 2026, growing at a CAGR of 3.4% over the analysis period. Flow & Pressure Control, one of the segments analyzed in the report, is projected to record a 4.3% CAGR and reach US$1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Drilling segment is readjusted to a revised 3.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.1 Billion in 2021, While China is Forecast to Reach $1 Billion by 2026
The Downhole Tools market in the U.S. is estimated at US$1.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1 Billion by the year 2026 trailing a CAGR of 6.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1% and 2.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.

Impurity Control Segment to Reach US$185.4 Million by the year 2026
In the global Impurity Control segment, USA, Canada, Japan, China and Europe will drive the 2.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$121 Million in the year 2020 will reach a projected size of US$139.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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About Global Industry Analysts, Inc. & StrategyR
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.

New Analysis from Global Industry Analysts Reveals Steady Growth for Downhole Tools, with the Market to Reach $5 Billion Worldwide by 2026

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Source: https://www.prnewswire.com:443/news-releases/new-analysis-from-global-industry-analysts-reveals-steady-growth-for-downhole-tools-with-the-market-to-reach-5-billion-worldwide-by-2026-301396030.html

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