Drilling Bits Market Overview Highlighting Major Drivers, Size, Share, and Demand Report 2020- 2025

The analysts forecast global Drilling bits market in oil and gas market for the mining sector to grow at a CAGR of 5% during the period 2018-2024.

The scope of the report includes a detailed study of global and regional markets on Drilling industry in certain regions.

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This industry research report identifies the migration of drilling into unconventional areas to be one among the major factors that will have a positive impact on the expansion of this market in the coming years. It’s been ascertained that the conventional crude oil can account for only concerning 60 minutes of the liquid fuel supply by 2040. With the age of easy oil nearing the end, oil and gas companies will start searching 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 alternative areas like the Yamal basin in Russia, Andaman sea within the Indian sub-continent, and several regions within the Arctic and Antarctic. This increase in new exploration and production activities will end in the increase in demand for drilling equipment, in turn, driving market growth.

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report includeNational Oilwell Varco, Baker Hughes, Halliburton, Varel International and Schlumberger.Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.

The Drilling bits market in oil and gas marketis segmented on the lines of its product type, applicationand regional. Based on productsegmentation it covers fixed cutter bits and Roller cone cutter bits. Based on application segmentation it covers onshore and offshore. The Drilling bits market in oil and gas marketon geographic segmentation covers various regions such as North America, Europe, Asia Pacific, and Rest of World. Each geographic market is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, and GCC countries.

This report provides:

This report covers the present scenario and the growth prospects of the global Drilling bits market in oil and gas market for 2018-2024. To calculate the market size, the report considers the revenue generated from the sales of robotic pharmacy prescription systems.

The major driving factors of Drilling bits market in oil and gas market are as follows:

  •     Migration of drilling into unconventional areas
  •     Increased use of horizontal and multilateral wells
  •     Focus on reduction of non-productive time (NPT).

The challenges factors of Drilling bits market in oil and gas market are as follows:

  •     Decreasing profitability of upstream petroleum companies
  •     Declining investments in oil and gas industry
  •     Reduction and optimization of drilling cost

The Drilling Bits markethas been segmented as below:

The Drilling Bits market in oil and gas market is segmented on the Basis of Product Analysis, Application Analysis and Regional Analysis. By Product Analysis this market is segmented on the basis ofFixed cutter bits and Roller cone cutter bits. By Application Analysis this market is segmented on the basis of Onshore and Offshore. By Regional Analysis this market is segmented on the basis of North America, Europe, Asia-Pacific and Rest of World.

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Table of Contents


  1. Executive summary
  2. Market Overview
  3. Drill Bit Market, By Technology
  4. Drill Bits Market, By Geography

5.1 Introduction
5.2 North America
5.3 Europe
5.4 APAC
5.5 ROW

  1. Competitive Landscape
  2. Company Profiles
    7.1 Atlas Copco
    7.2 Secoroc AB
    7.3 Baker Hughes Inc.
    7.4 Cangzhou Great Drill Co. Ltd.
    7.5 Driltec LLC, ESCO Corporation
    7.6 Halliburton Company
    7.7 Irwin Industrial Tool Company
    7.8 NewTech Drilling Products LLC
    7.9 Robert Bosch Tool Corporation
    7.10 Varel International Inc.

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