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Global Drilling Bits Market in Oil and Gas 2017-2021

Global Drilling Bits Market in Oil and Gas 2017-2021

About Drilling Bits

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.

Technavio’s analysts forecast the global drilling bits market in oil and gas to grow at a CAGR of 4.75% during the period 2017-2021.Covered in this report

The report covers the present scenario and the growth prospects of the global drilling bits market in oil and gas for 2017-2021. To calculate the market size, the report considers the revenues that are generated from the sale of drill bit products in the oil and gas exploration market.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Drilling Bits Market in Oil and Gas 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Baker Hughes
  • Halliburton
  • National Oilwell Varco
  • Schlumberger
  • Varel International
Other prominent vendors
  • 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
Market driver
  • Migration of drilling into unconventional areas
  • For a full, detailed list, view our report
Market challenge
  • Declining investments in oil and gas industry
  • For a full, detailed list, view our report
Market trend
  • Integration of drill bits in bottom-hole assemblies
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Drilling Bits Market in Oil and Gas 2017-2021

Technavio recognizes the following companies as the key players in the global drilling bits market in oil and gas: Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, and Varel International.

Other Prominent Vendors in the market are: 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, and PDB Tools.

Commenting on the report, an analyst from Technavio’s team said: “One of the major trends in the global oil and gas drill bits market is the integration of drill bits in bottom-hole assemblies. Currently, many end-users demand packaged solutions for their drilling operations instead of individual drill bits. These packaged drilling solutions for bottom-hole assemblies integrate motors, drilling systems, and bits, thereby reducing the time and energy needed to assemble and calibrate the individual components before use.”

According to the report, one of the major drivers for this market is migration of drilling into unconventional areas. One of the most striking feature of the recent generation of oil and gas exploration is the reaffirmation of the fact that the era of easy oil is closer to the end. This has resulted in inflated costs of hydrocarbon acquisition and has also displaced the operations worldwide.

Further, the report states that one of the major factors hindering the growth of this market is declining investments in oil and gas industry. The investments in oil and gas extraction as well as pipeline transport for 2016 are estimated at $21.26 billion. This comes to 1.5% lower than the earlier estimate of 2016. The decreasing trend stems from lower estimates for field development, shutdown, and removal. The field development is partly due to the fact that the fields have come on stream, and therefore their category was changed from development to on stream status.

Companies Mentioned

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.

  • Executive summary
  • Scope of the report
    • Market overview
      • Table Key countries in each region
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
    • Technological overview
      • Table Oil and gas market value chain
      • Table Petroleum upstream activities stages
      • Table Drill bits types
      • Table Different drill bit types and their impact on different parameters
  • Market landscape
    • Market overview
      • Table Segmentation of drill bit market in oil and gas
    • Market size and forecast
      • Table Global drill bit market in oil and gas 2016-2021 ($ million)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by product type
    • Global drill bit market in oil and gas by product type 2017-2021
      • Table Global drill bits market in oil and gas by product type 2016-2021 (%)
      • Table Global drill bit market in oil and gas by type 2016-2021 ($ million)
    • Global drill bit market in oil and gas by fixed cutter bits
      • Table Global drill bit market in oil and gas by fixed cutter bits 2016-2021 ($ million)
    • Global drill bit market in oil and gas by roller cone cutter bits
      • Table Global drill bit market in oil and gas by roller cone bits 2016-2021 ($ million)
  • Market segmentation by application
    • Global drill bit market in oil and gas by application 2017-2021
      • Table Global drill bit market in oil and gas by application 2016-2021 (%)
      • Table Global drill bit market in oil and gas by application 2016-2021 ($ million)
    • Global drill bit market by onshore
      • Table Global drill bit market by onshore 2016-2021 ($ million)
    • Global drill bit market by offshore
      • Table Global drill bit market by offshore 2016-2021 ($ million)
  • Market segmentation by Geography
    • Global oil and gas drill bits market by geography 2017-2021
      • Table Global drill bits market in oil and gas by geography 2016-2021 (%)
      • Table Global drill bit market in oil and gas by geography 2016-2021 ($ million)
    • Global oil and gas drill bits market by Americas
      • Table Americas oil and gas drill bit market outlook 2016-2021 ($ million)
      • Table US offshore rig count 2015-2016
      • Table US onshore rig count 2015-2016
    • Global oil and gas drill bits market by EMEA
      • Table EMEA oil and gas drill bit market outlook 2016-2021 ($ million)
    • Global oil and gas drill bits market by APAC
      • Table APAC oil and gas drill bit market outlook 2016-2021 ($ million)
  • Market drivers
    • Migration of drilling into unconventional areas
      • Table Shifting bases of hydrocarbon exploration
    • Increased use of horizontal and multilateral wells
      • Table Different well types
      • Table Illustration showing different well types
    • Focus on reduction of non-productive time (NPT)
      • Table Cost of crude oil production in various countries ($/Bbl.)
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Decreasing profitability of upstream petroleum companies
      • Table Global crude oil price disparity over last decade
      • Table Comparison of profits at different crude prices (in $/barrel of crude oil)
    • Declining investments in oil and gas industry
      • Table Investment over in oil and gas industry ($ million)
    • Reduction and optimization of drilling cost
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Integration of drill bits in bottom-hole assemblies
    • Development of application-specific bit technology
    • Advancement of EOR technology
  • Vendor landscape
    • Competitive scenario
    • Other prominent vendors
  • Key vendor analysis
    • National Oilwell Varco
      • Table Business segmentation by revenue, 2015
      • Table Key vendor offerings
      • Table Recent developments
    • Baker Hughes
      • Table Business segmentation by revenue 2015
      • Table Key vendor offerings
      • Table Recent developments
    • Halliburton
      • Table Business segmentation by revenue 2015
      • Table Key vendor offerings
    • Varel International
      • Table Key vendor offerings
      • Table Recent developments
    • Schlumberger
      • Table Business segmentation by revenue, 2105
      • Table Key vendor offerings
      • Table Recent developments
  • Appendix
    • List of abbreviations
  • Explore Technavio

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