Drill bits are mechanical tools used for cutting or crushing rocks to create wellbores for the extraction of hydrocarbon resources. They are mainly used in drilling operations for oil or gas wells either onshore or offshore.
With the era of easy oil nearing the end, oil and gas companies will start looking out for unconventional avenues around the globe for exploration and production activities. For instance, the decreasing production rates in the established regions such as the Middle East, Gulf of Mexico, and North Sea has already induced energy companies to move out to other areas like the Yamal basin in Russia, Andaman Sea in the Indian sub-continent, and several regions in the Arctic and Antarctic. This increase in new exploration and production activities will result in the rise in demand for drilling equiment, in turn, driving market growth.
The market is characterized by the presence of a considerable number of players and is competitive. The market is dominated by the major players who occupy large market shares despite having the least geographical presence. To gain a competitive advantage over their competitors, market players follow M&A strategies and also focus on creating joint ventures, contracts, agreements, and partnerships with other vendors. To cater to the changing market dynamics, the regional vendors are focusing on the development of innovative products and technologies, in turn, pose a stiff challenge to the international vendors.
The global Drilling Bits in Oil and Gas market was valued at xx million US$ in 2018 and will reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025.
This report focuses on Drilling Bits in Oil and Gas volume and value at global level, regional level and company level. From a global perspective, this report represents overall Drilling Bits in Oil and Gas market size by analyzing historical data and future prospect.
Regionally, this report categorizes the production, apparent consumption, export and import of Drilling Bits in Oil and Gas in North America, Europe, China, Japan, Southeast Asia and India.
For each manufacturer covered, this report analyzes their Drilling Bits in Oil and Gas manufacturing sites, capacity, production, ex-factory price, revenue and market share in global market.
The following manufacturers are covered:
Baker Hughes
Halliburton
National Oilwell Varco
Schlumberger
Varel International
Atlas Copco AB
Bellwether Resources International
Bit Brokers International
Century Products
DRILLBITS International (DBI)
Drilformance
Drill King International
Drilling Products (DPI)
Harvest Tool Company
Hole Products
Kay Rock Bit Company
Master Oil Tool
Nile Petroleum Industrial Company (NPICO)
OTS International
PDB Tools
Segment by Regions
North America
Europe
China
Japan
Southeast Asia
India
Segment by Type
Fixed cutter
Roller cone
Segment by Application
Onshore
Offshore
Summary:
Get latest Market Research Reports on Drilling Bits in Oil and Gas. Industry analysis & Market Report on Drilling Bits in Oil and Gas is a syndicated market report, published as Global Drilling Bits in Oil and Gas Market Professional Survey Report 2019. It is complete Research Study and Industry Analysis of Drilling Bits in Oil and Gas market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.