Downhole Tools companies

  • Report ID: 5022
  • Published Date: Jun 26, 2025
  • Report Format: PDF, PPT

Key Downhole Tools Market Players:

    The global downhole tools market is very competitive. The largest companies in the space that are based in the United States are Schlumberger, Halliburton, and Baker Hughes in that order, which comprise greater than 40% of the uphole market. These companies use new technologies to maintain their leading position through the use of AI-drilling analytics, drilling automation, and carbon-reducing technologies. The other major players located in Europe, such as Tenaris and Hunting PLC, are focused on higher-strength alloys and digital twin technologies. Strategic initiatives that are needed to create joint ventures globally, efforts to increase or acquire unconventional reserves, and efforts to enable the use of a real-time downhole monitoring system to enhance the efficiency and sustainability of operations.

    Some of the key players operating in the market are listed below:

    Company Name

    Country of Origin

    Est. Market Share (2024)

    Schlumberger Limited (SLB)

    USA

    17.3%

    Halliburton Company

    USA

    14.6%

    Baker Hughes Company

    USA

    12.2%

    Weatherford International plc

    USA/Switzerland

    8.8%

    Mitsubishi Heavy Industries, Ltd.

    Japan

    2.4%

    NOV Inc. (National Oilwell Varco)

    USA

    xx%

    Tenaris S.A.

    Luxembourg

    xx%

    Hunting PLC

    UK

    xx%

    Vallourec S.A.

    France

    xx%

    Nippon Steel Corporation

    Japan

    xx%

    Drilltechniques Pty Ltd

    Australia

    xx%

    Hyundai Heavy Industries Co., Ltd.

    South Korea

    xx%

    Bharat Forge Ltd

    India

    xx%

    UMW Oil & Gas Corporation Berhad

    Malaysia

    xx%

    Here are a few areas of focus covered in the competitive landscape of the market:

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis

Browse key industry insights with market data tables & charts from the report:

Frequently Asked Questions (FAQ)

The downhole tools market size was USD 4.93 billion in 2024.

The global downhole tools market size was USD 4.93 billion in 2024 and is likely to reach USD 8.74 billion by the end of 2037, expanding at a CAGR of 4.7% over the forecast period, i.e., 2025-2037.

Schlumberger Limited (SLB), Halliburton Company, Baker Hughes Company, Weatherford International plc, NOV Inc. (National Oilwell Varco), and Tenaris S.A. are some key players in the market.

The onshore segment is expected to hold a leading share during the forecast period.

North America is projected to offer lucrative prospects with a share of 32.7% during the forecast period.
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