Energy and Power

Global Gas and Oil Drill Bits Industry - Market Research 2015-2019

  • TEC331281
  • 76 Pages
  • September 2015
  • Energy and Power
About drill bits in oil and gas industry
Drill bits are mechanical tools that cut and crush rocks to create wellbores for the extraction of hydrocarbons. They are mainly used in drilling operations for oil or gas wells, either onshore or offshore. They are broadly classified into two major categories:
Fixed-cutter bits
Roller-cone cutter bits

Fixed-cutter bits
Fixed-cutter bits do not have moving cones. They integrate cutting elements into the bits body and are designed to excavate holes by shearing, instead of cutting or gouging.
Based on type, they are classified into two:
PDCs
Natural diamond bits

Roller-cone cutter bits
Roller-cone cutter bits include three individually rotating cones. They are designed to drill any formation by adjusting cutters, bearings, and nozzles. Depending on the design of their teeth, they are classified into two:
Milled-tooth bits
Tungsten carbide inserts

Technavio's analysts forecast the global drill bits in oil and gas industry to grow at a CAGR of 4.05% in terms of over the period 2014-2019.

Covered in this report
The report includes the present scenario and the growth prospects of global drill bits in oil and gas industry for the period 2015-2019. The market can be segmented into three based on type, application, and geography.

Technavio's report, Global Drill Bits in Oil and Gas Industry 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, EMEA, and the Americas; it also covers the landscape of the global drill bits in oil and gas industry and its growth prospects in the coming years. The report includes a discussion on the key vendors operating in this market.

Key geographies
Americas
APAC
EMEA

Key vendors
Baker Hughes
Halliburton
National Oilwell Varco
Schlumberger
Varel International

Other prominent vendors
Atlas Copco
Cangzhou Great Drill
Champion Cutting Tool
Driltec
Guizhou Sinodrills Equipment
Irwin Industrial Tool
NewTech Drilling Products
Rock River Tool
Weatherford International

Market driver
Increased demand for oil and gas worldwide
For a full, detailed list, view our report

Market challenge
Fluctuating oil prices
For a full, detailed list, view our report

Market trend
Integration of drill bits into bottom-hole assemblies
For a full, detailed list, view our report

Key questions answered in this report
What will the market size be in 2019 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?
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