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Drilling Jars are hydro-mechanical devices used in downhole (oil & gas reservoir) applications used to impart heavy blow (impact load) to the downhole assembly. This is primarily done to remove a component stuck downhole, which is an important component of the drilling string. The success of a cable tool drilling very much depends on drilling jars. Drilling jars have improved over time to provide better results and reliability for drilling operations. The impact provided by drilling jars is known as a "jarring effect". Downhole jars are a part of the drilling string and remain in the borehole as long as the drill bit works. Hence they should be capable of withstanding the extreme downhole temperature and pressure. These operational characteristics, coupled with increasing onshore and offshore exploration activities, are expected to drive the growth of drilling jars market.
Based on the type, the market can be segmented into mechanical drilling jars and hydraulic drilling jars. Mechanical drilling jars accounts for the larger market as these are majorly used across the oil and gas industry to apply intensified force and pressure for drilling actions. Based on application, the market is segmented into vertical drillinf, horizontal drilling, directional drilling, angular drilling, and extended reach drilling.
Based on the end-user, the market is segmented into the oil industry, natural gas industry, shale gas industry, and others. Drilling industry leads the market due to drilling activities and operations that are performed on a larger scale in case of the obtainment of petroleum and natural gas industry. The oil and gas industry has expanded in every region over the years, which has increased the adoption of drilling jars.
The key market driver of this market is increasing drilling activities in the oil and gas industry to meet the rising energy demand. Other market driving factors include rising unconventional hydrocarbon exploration to boost the drilling jars market.
The key market restraint is volatility in crude oil prices. If prices of the oil become very high, it may affect the drilling activities that need to be performed for the obtainment of the oil and natural gas. Other factors that hamper the market includes geopolitics and other market forces which directly play a critical role in influencing the global crude prices.
Key Market Driver - Increased drilling activities for oil and gas to meet rising demand for energy. Key Market Restraint - Volatility in crude prices are high, which directly impacts the market growth.
Key Market Driver -
Increased drilling activities for oil and gas to meet rising demand for energy.
Key Market Restraint -
Volatility in crude prices are high, which directly impacts the market growth.
Some of the major companies in Drilling Jars Market are BICO Drilling Tools, Inc., Odfjell Drilling, Cougar Drilling Solutions, National Oilwell Varco, Schlumberger, Tasman Oil Tools, AOS Orwell Limited, Knight Oil Tools, Weatherford, Wenzel Downhole Tools, and Pacific Drilling.
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The global drilling jars market covers different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is leading the market over the years, owing to the massive hydrocarbon potential. Shale gas exploration activities in the united states have also played a critical role in capturing a significant share in the market to produce unconventional energy. The Middle East region is holding the market owing to massive hydrocarbon potential and with increased drilling activities in countries like Iran, Saudi Arabia, which are the largest source for oils and natural gas. Europe is anticipated to witness a surge in unconventional hydrocarbon exploration with activities being carried out at offshore locations at increased depths and in harsh conditions. The Asia Pacific region will experience healthy market growth and lead the market with an increase in drilling operations. The growth in the need for energy in countries like India, Japan, Thailand, and Singapore will aid in the growth of the market. Latin America region is anticipated to grow the market with an increase in offshore drilling activities.
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