Increasing drilling activities is projected to fuel the growth of the global oil & gas fishing market at a CAGR of 4.85% during the forecast period 2023 to 2030.

Market Research Future (MRFR) has published  a cooked research report on the “global oil & gas fishing market” that contains the information from 2019 to 2030. The oil & gas fishing market is estimated to register a CAGR of 4.85% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global oil & gas fishing market— Archer Ltd. (Bermuda), Ardyne Technologies (Scotland), Mustang Services (France), Bilco Tools (United States), Tasman Oil Tools (Australia), Heat Group (Austria), Wenzel Downhole Tools Ltd. (WZL) (Canada), Baker Huges (United States), Expro Holdings (United States), National Oilwell Varco, Inc. (United States).

Market Highlights

The global Oil & Gas Fishing market is accounted for to register a CAGR of 4.85% during the forecast period and is estimated to reach USD 6,509.77 million by 2030.

Fishing is a term used to recover lost, damaged or stuck objects from the wellbore in oil and gas drilling and completion operations. The item lost down the well is generally referred to as a “fish”. The key elements of planning a successful fishing job include an understanding of the type and dimensions of the “fish”, the nature in which it became lost or stuck, and the borehole geometry and wellbore conditions.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Oil & Gas Fishing market Research Report

The primary force behind the growth of the Oil & Gas Fishing market worldwide is the Increasing drilling activities. The global oil & gas fishing market is expected to showcase significant growth over the projected period. The growth of the oil & gas fishing market is influenced by the rapidly growing energy demand owing to rising industrial activities along with government initiatives specifically in developed countries. Moreover, industry leaders are continuously investing for enhancing performance drilling capacity and expanding number of boreholes to meet the growing energy consumption.

Segment Analysis

The global oil & gas fishing market has been segmented based on product, application, and region.

The global Oil & Gas Fishing Market segmentation, based on Product has been segmented as Overshots & Spears, Milling Tools, Fishing Jars, and Casing Cutters. Among these, the Overshots & Spears is projected to dominate the global Oil & Gas Fishing market revenue through the projected period as estimated by MRFR analysts.

Overshot is an external fishing tool designed to retrieve tubular fish. Different sizes of overshot and spears are available to pick the top of the fish. It can also catch fish such as Sucker rod and sucker rod coupling. Due to complex design of wellbores across the globe, the demand for circulating overshot and releasing spears are likely to spur in recent years which will boost the overall market share by 2030.

Based on application, the market is segmented as onshore and offshore. Out of which the Onshore segment dominated base year market and is also projected to be holding a dominating share in the forecasted period as well. Onshore is expected to be the leading application segment owing to the growth of oil and gas exploration fields primarily in onshore locations over the years. Increasing need for energy demand along with the rise in onshore activities has augmented the segmental share. Additionally, increased exploration and production activities in the onshore fields specifically in developing economies are likely to be the primary factors which further influence the market share at the end of 2030.

Regional Analysis

By Region, the study segments the Oil & Gas Fishing market into North America, Europe, Asia-Pacific, Middle East & Africa and South America. The North America Oil & Gas Fishing market holds the largest market share and is also anticipated to account for the largest revenue share during the forecast period. North America is anticipated to dominate the global oil & gas fishing market over the forecast period. North America is accounted as the major oil and gas fishing market with a prominent share in 2022 due to high crude production in the world. The regional market is further expected to experience high growth on account of shale gas plays, which is increasing hydraulic fracturing and horizontal drilling numbers in North America mainly in the US. Furthermore, the high level of investment in development of offshore and remote fields is anticipated to bolster growth in the fishing market.

Key Findings of the Study

• The global oil & gas fishing market is expected to reach USD 6,509.77 million by 2030, at a CAGR of 4.85% during the forecast period.


• The North America region accounted for the fastest-growing global market.


• Based on product, overshots & spears segment was attributed to holding the largest market in 2022.


• Based on application, the onshore segment was attributed to holding the largest market in 2022.


• Archer Ltd. (Bermuda), Ardyne Technologies (Scotland), Mustang Services (France), Bilco Tools (United States), Tasman Oil Tools (Australia), Heat Group (Austria), Wenzel Downhole Tools Ltd. (WZL) (Canada), Baker Huges (United States), Expro Holdings (United States), National Oilwell Varco, Inc. (United States) are the key market players.