World Advanced Exploration & Downhole Technology Market to See 5.8% CAGR to 2021, Predicts BCC Research in Report Available at MarketPublishers.com18 Dec 2017 • by Natalie Aster
LONDON – In 2015, the value of the global market for advanced oil exploration and downhole technology stood at USD 163.2 billion, whilst in 2016 it amounted to USD 175.8 billion. Furthermore, from 2016 to 2021, the market is likely to observe a healthy 5.8% CAGR and hit the USD 233.4 billion mark by end-2021.
By technology type, the recovery sector is expected to witness a 6.2% CAGR in the offing, growing from USD 98.8 billion as of 2016 to amount to USD 133.7 billion in 2021.
The finding reserves sector is anticipated to grow to a value of USD 17.3 billion by late 2021 from USD 12.1 billion in 2016, registering a 7.4% CAGR over the projected period.
New research study “Advanced Oil and Gas Exploration and Downhole Technologies: Global Markets to 2021” drawn up by BCC Research provides an all-encompassing analysis of the current situation in the market from a global perspective.
The study provides background information on the market and technology, covering categorisation of petroleum resources, key steps in oil & gas field development, 10 key oil & gas discoveries, exploration and production expenditure globally, and much more. The research report provides detailed market analysis and segmentation based on type of technology, end-user sector, and application. A regional market assessment is also provided. The report includes a patent review and gives insights into new developments, uncovers key market opportunities, and examines key market growth driving factors and hindrances. Moreover, the study takes an in-depth look at the competitive scene and offers granular profiles of the dominant market participants. Furthermore, it includes a 5-year forecast of the prospective evolution of the world advanced oil & gas exploration and downhole technologies marketplace.
More new market research reports created by BCC Research are available at its online page at MarketPublishers.com.