Oil and Gas Drill Bit Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Description
Oil and Gas Drill Bit Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Oil and Gas EPC Market
The Oil and Gas EPC market size was valued at USD 53.10 billion in 2023, and the market is now expected to grow from USD 56.76 billion in 2024 to USD 92.49 billion by 2032, exhibiting a CAGR of 6.3% during the forecast period of 2024-2032.
Throughout the COVID-19 pandemic, the oil and gas EPC contracts sector saw its demand intensified worldwide. EPC entails engineering, procurement, and construction services that span the entire Oil and Gas EPC Market growth value chain from exploration through refining to distribution. Competition heightened as more service providers sought contracts to design, build and maintain different facilities including drilling rigs or pipelines on the industry operators that were awarded contracts.
The development of Oil and Gas EPC Market share fields in countries rich in resources is a result of growing global demand, hence there is increased trade between producer and consumer nations, this has also resulted to more pipeline construction for oil and gas across countries as a result transportation. Additionally, natural gas use in the end user sector has also promoted inter-region distribution gas pipeline network development.
The demand remains high due to high consumption rate of hydrocarbons worldwide and this has resulted in its constant growth with much expectation for the market. And as the global demand for oil and gas continues to increase, both government and private sector actors have embarked on extensive exploration of hydrocarbon. Majority of the investors who invest in the energy sector usually have a lot of money even though oil market is never predictable.
Comprehensive Oil and Gas EPC Market
The Oil and Gas EPC market is rising at an exponential rate due to its market segmentation. These segmentations are methodically segregated by Contract Type Analysis, by End-User Analysis, by Application Analysis. The Contract Type Analysis include, fabrication & equipment, construction & installation, management services, and others. The End-User Analysis includes upstream, midstream, and downstream based on the end-user. The Application Analysis includes, onshore and offshore. Onshore EPC projects are conducted on land.
The Middle East Africa region lead the Oil and Gas EPC market by benefitting a market size of USD 36.49 billion in 2021 due to growing industrial landscape and a developing economy.
The top players in the market play a crucial role in the Food & Beverages industry assuring industrial prospectus growth and setting market standards. These players include, Wood (U.K.), Petrofac (U.K.), Larsen & Toubro (India), McDermott (U.S.), NPCC (UAE), Saipem (Italy), TechnipFMC (U.K.), WorleyParsons (Australia), Lamprell (UAE), KBR (U.S.), Subsea7 (U.K.), Aker (Norway), Fluor Corporation (U.S.) these market players provide a competitive landscape.
In October 2023, On behalf of North Eastern Electric Power Corporation (NEEPCO)，NTPC Green Energy submitted proposals for winning tenders of Engineering, Procurement and Construction (EPC) plus Land development contract packages for Solar power projects inter-state transmission system (ISTS) based on up to 300 MW all over India.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 6.3% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Contract Type
Fabrication & Equipment
Construction & Installation
Management Services
Others
By End-User
Upstream
Midstream
Downstream
By Application
Onshore
Offshore
By Geography
North America (By Contract Type, By End-User, By Application, By Country)
- U.S. (By Contract Type, By End-User, By Application)
- Canada (By Contract Type, By End-User, By Application)
Europe (By Contract Type, By End-User, By Application, By Country)
- Norway (By Contract Type, By End-User, By Application)
- U.K. (By Contract Type, By End-User, By Application)
- Russia (By Contract Type, By End-User, By Application)
- Rest of Europe (By Contract Type, By End-User, By Application)
Asia Pacific (By Contract Type, By End-User, By Application, By Country)
- China (By Contract Type, By End-User, By Application)
- India (By Contract Type, By End-User, By Application)
- Australia (By Contract Type, By End-User, By Application)
- Malaysia (By Contract Type, By End-User, By Application)
- Rest of Asia Pacific (By Contract Type, By End-User, By Application)
Latin America (By Contract Type, By End-User, By Application, By Country)
- Brazil (By Contract Type, By End-User, By Application)
- Mexico (By Contract Type, By End-User, By Application)
- Rest of Latin America (By Contract Type, By End-User, By Application)
Middle East & Africa (By Contract Type, By End-User, By Application, By Country)
- Saudi Arabia (By Contract Type, By End-User, By Application)
- U.A.E. (By Contract Type, By End-User, By Application)
- Qatar (By Contract Type, By End-User, By Application)
- Oman (By Contract Type, By End-User, By Application)
- Kuwait (By Contract Type, By End-User, By Application)
- Egypt (By Contract Type, By End-User, By Application)
- Iraq (By Contract Type, By End-User, By Application)
Rest of Middle East & Africa(By Contract Type, By End-User, By Application)
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Table of Contents
120 Pages
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
- 4.6. Value Chain Analysis
- 5. Global Oil and Gas Drill Bit Market Analysis, Insights, and Forecast, 2015-2026
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights, and Forecast – By Type (USD Billion)
- 5.2.1. Roller Cone Cutter Bits
- 5.2.1.1. Milled-Tooth Bits
- 5.2.1.2. Tungsten Carbide Inserts
- 5.2.2. Fixed Cutter Bits
- 5.2.2.1. Diamond Impregnated
- 5.2.2.2. Polycrystalline Diamond Compact
- 5.3. Market Analysis, Insights and Forecast – By Application (USD Billion)
- 5.3.1. Onshore
- 5.3.2. Offshore
- 5.4. Market Analysis, Insights and Forecast – By Region (USD Billion)
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America
- 5.4.5. Middle East & Africa
- 6. North America Oil and Gas Drill Bit Market Analysis, Insights, and Forecast, 2015-2026
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights, and Forecast – By Type (USD Billion)
- 6.2.1. Roller Cone Cutter Bits
- 6.2.1.1. Milled-Tooth Bits
- 6.2.1.2. Tungsten Carbide Inserts
- 6.2.2. Fixed Cutter Bits
- 6.2.2.1. Diamond Impregnated
- 6.2.2.2. Polycrystalline Diamond Compact
- 6.3. Market Analysis, Insights and Forecast – By Application (USD Billion)
- 6.3.1. Onshore
- 6.3.2. Offshore
- 6.4. Market Analysis, Insights and Forecast – By Country (USD Billion)
- 6.4.1.U.S.
- 6.4.2. Canada
- 7. Europe Oil and Gas Drill Bit Market Analysis, Insights, and Forecast, 2015-2026
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights, and Forecast – By Type (USD Billion)
- 7.2.1. Roller Cone Cutter Bits
- 7.2.1.1. Milled-Tooth Bits
- 7.2.1.2. Tungsten Carbide Inserts
- 7.2.2. Fixed Cutter Bits
- 7.2.2.1. Diamond Impregnated
- 7.2.2.2. Polycrystalline Diamond Compact
- 7.3. Market Analysis, Insights and Forecast – By Application (USD Billion)
- 7.3.1. Onshore
- 7.3.2. Offshore
- 7.4. Market Analysis, Insights and Forecast – By Country (USD Billion)
- 7.4.1. Germany
- 7.4.2. Italy
- 7.4.3. France
- 7.4.4. UK
- 7.4.5. Norway
- 7.4.6. Russia
- 7.4.7. Rest of Europe
- 8. Asia Pacific Oil and Gas Drill Bit Market Analysis, Insights, and Forecast, 2015-2026
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights, and Forecast – By Type (USD Billion)
- 8.2.1. Roller Cone Cutter Bits
- 8.2.1.1. Milled-Tooth Bits
- 8.2.1.2. Tungsten Carbide Inserts
- 8.2.2. Fixed Cutter Bits
- 8.2.2.1. Diamond Impregnated
- 8.2.2.2. Polycrystalline Diamond Compact
- 8.3. Market Analysis, Insights and Forecast – By Application (USD Billion)
- 8.3.1. Onshore
- 8.3.2. Offshore
- 8.4. Market Analysis, Insights and Forecast – By Country (USD Billion)
- 8.4.1. China
- 8.4.2. Japan
- 8.4.3. India
- 8.4.4. Australia
- 8.4.5. Southeast Asia
- 8.4.6. Rest of Asia Pacific
- 9. Latin America Oil and Gas Drill Bit Market Analysis, Insights, and Forecast, 2015-2026
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights, and Forecast – By Type (USD Billion)
- 9.2.1. Roller Cone Cutter Bits
- 9.2.1.1. Milled-Tooth Bits
- 9.2.1.2. Tungsten Carbide Inserts
- 9.2.2. Fixed Cutter Bits
- 9.2.2.1. Diamond Impregnated
- 9.2.2.2. Polycrystalline Diamond Compact
- 9.3. Market Analysis, Insights and Forecast – By Application (USD Billion)
- 9.3.1. Onshore
- 9.3.2. Offshore
- 9.4. Market Analysis, Insights and Forecast – By Country (USD Billion)
- 9.4.1. Brazil
- 9.4.2. Argentina
- 9.4.3. Venezuela
- 9.4.4. Mexico
- 9.4.5. Rest of Latin America
- 10. The Middle East & Africa Oil and Gas Drill Bit Market Analysis, Insights, and Forecast, 2015-2026
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights, and Forecast – By Type (USD Billion)
- 10.2.1. Roller Cone Cutter Bits
- 10.2.1.1. Milled-Tooth Bits
- 10.2.1.2. Tungsten Carbide Inserts
- 10.2.2. Fixed Cutter Bits
- 10.2.2.1. Diamond Impregnated
- 10.2.2.2. Polycrystalline Diamond Compact
- 10.3. Market Analysis, Insights and Forecast – By Application (USD Billion)
- 10.3.1. Onshore
- 10.3.2. Offshore
- 10.4. Market Analysis, Insights and Forecast – By Country (USD Billion)
- 10.4.1. GCC
- 10.4.2. Algeria
- 10.4.3. Egypt
- 10.4.4. Nigeria
- 10.4.5. Rest of Middle East & Africa
- 11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2018
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.3.1. Schlumberger
- 11.3.1.1. Business Overview
- 11.3.1.2. Product & Service Offering
- 11.3.1.3. Overall Revenue
- 11.3.1.4. Geographic Presence
- 11.3.1.5. Recent Development
- 12. *Similar details will be provided for all the listed companies
- 13.
- 13.1.
- 13.1.1. International Diamond Services, Inc.
- 13.1.2. Baker Hughes, a GE company
- 13.1.3. Atlas Copco
- 13.1.4. Tercel Oilfield Products
- 13.1.5. D-Drill (Master Drillers) Limited
- 13.1.6. Ulterra Drilling Technologies L.P.
- 13.1.7. National Oilwell Varco
- 13.1.8. Halliburton
- 13.1.9. Varel International Energy Services
- 13.1.10. Scientific Drilling
- 13.1.11. Palmer Bit Company
- 13.1.12. C&H Bit Company
- 13.1.13. Dongying Haixin Petroleum Equipment Co.,Ltd.
- 13.1.14. Shanghai Sk Petroleum & Chemical Equipment
Pricing
Currency Rates
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