New York, July 24, 2023 (GLOBE NEWSWIRE) — The global downhole tools market size is projected to expand at ~5% CAGR between 2023 and 2035. The market is expected to garner a revenue of USD 7 billion by the end of 2035, up from a revenue of ~USD 4 billion in the year 2022.The rising drilling activities at the oil and gas well have increased the demand for downhole tools, including drill bits, screens, and casing. The downhole tools are interested deep into the ground levels for placing the casing pipes for smooth flow of water. Volumes discovered in high-impact wells have nearly increased by 4 times to over 2 billion barrels of oil equivalent (boe). Request Free Sample Copy of this Report @
(GlobeNewsWire)