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China Downhole Tools Market
ID: MRFR/Equip/54452-HCR
200 Pages
June 2025
China Downhole Tools Market Research Report: By Application (Drilling, Completion, Formation & Evaluation, Production, Intervention) and By Type (Downhole Control Tools, Handling Tools, Flow & Pressure Control Tools, Drilling Tools, Impurity Control Tools) - Forecast to 2035
Industry Developments
The China Downhole Tools Market has seen notable developments recently, with increased competition among key players such as Halliburton, Schlumberger, and Weatherford International. In October 2023, Halliburton announced the launch of its new line of downhole tools designed to enhance drilling efficiency in Chinese oilfields, reflecting a growing demand for advanced technology in the sector. Zhengzhou Yubei Drill Tool has also reported a significant increase in sales volume, capitalizing on the expansion of oil and gas exploration activities in China.In terms of mergers and acquisitions, in September 2023, National Oilwell Varco acquired Qingdao EURI Energy Equipment, a move aimed at enhancing its product portfolio in downhole tools. This acquisition is expected to strengthen National Oilwell Varco's market position in the region. Meanwhile, market valuations for companies like Baker Hughes and AOS Orwell have risen due to ongoing investment in Research and Development initiatives, contributing to a more favorable market outlook. Over the past two years, the sector has witnessed accelerated growth, driven by increased oil demand and government incentives promoting energy sector modernization in China.
Report Scope
Report Scope:
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 432.0(USD Million) |
| MARKET SIZE 2024 | 454.8(USD Million) |
| MARKET SIZE 2035 | 1217.0(USD Million) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 9.361% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Million |
| KEY COMPANIES PROFILED | Zhengzhou Yubei Drill Tool, Halliburton, Qingdao EURI Energy Equipment, National Oilwell Varco, Cameron International, AOS Orwell, TAM International, Yancheng Tianyi Drill Tool, Wenzel Downhole Tools, Schlumberger, Weatherford International, Tendeka, Nabors Industries, Baker Hughes, Guangxi Luyin Technology |
| SEGMENTS COVERED | Application, Type |
| KEY MARKET OPPORTUNITIES | Increased oil exploration activities, Growing demand for advanced technologies, Expansion of shale gas production, Enhanced focus on recovery efficiency, Rising investments in renewable energy. |
| KEY MARKET DYNAMICS | increasing oil and gas demand, investment in exploration activities, technological advancements in tools, regulatory environment and compliance, growing focus on efficiency and cost reduction |
| COUNTRIES COVERED | China |
FAQs
What is the expected market size of the China Downhole Tools Market in 2024?
The China Downhole Tools Market is expected to be valued at 454.8 million USD in 2024.
What is the projected market value for the China Downhole Tools Market by 2035?
By the year 2035, the market is projected to reach a value of 1217.0 million USD.
What is the expected compound annual growth rate (CAGR) for the China Downhole Tools Market from 2025 to 2035?
The expected CAGR for the China Downhole Tools Market from 2025 to 2035 is 9.361 percent.
Which application segment holds the highest market value in 2024 within the China Downhole Tools Market?
In 2024, the Production application segment holds the highest market value at 130.0 million USD.
How much is the Drilling application of the China Downhole Tools Market expected to be worth in 2035?
The Drilling application is expected to be valued at 250.0 million USD in 2035.
Who are some of the key players in the China Downhole Tools Market?
Key players in the market include Halliburton, Schlumberger, Weatherford International, and National Oilwell Varco, among others.
What is the anticipated market size for the Completion application in 2035?
In 2035, the Completion application is anticipated to reach a market size of 220.0 million USD.
Which application segment is expected to show significant growth from 2024 to 2035?
The Intervention application segment is expected to show significant growth, increasing from 79.8 million USD in 2024 to 217.0 million USD in 2035.
What market challenges do the China Downhole Tools Market face currently?
Challenges include fluctuating oil prices and the need for advancements in technology to meet evolving industry demands.
How much is the Formation & Evaluation application projected to be worth in 2035?
The Formation & Evaluation application is projected to be valued at 180.0 million USD in 2035.
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