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Global Drill Bit Market is segmented by Type (Roller Cone Bit and Fixed Cutter Bit), Location of Deployment (Onshore and Offshore), Regional Forecasts 2021-2027

  • BIZ4639331
  • 200 Pages
  • September 2021
  • Consumer Goods
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Global Drill Bit Market is valued approximately at USD 5.4 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2021-2027. Drilling is the most common process of discovering and producing crude oil from a tank. Rocks are crushed using drill bits to extract crude oil and produce a cylindrical hole on the earth's surface in this procedure. In the oil and gas sector, drill bits made of various materials such as diamond, tungsten, and carbide are commonly utilized. The cutter's drill bits are divided into two types: roller cone drill bits and fixed drill bits. The roller cone drill bits are the most commonly used drill bits for drilling conventional wells. The market is driven by the key factors such as increase in exploration activities and increasing consumption in foundation work and maintenance in housing sectors. As per Statista, In 2017, the number of active mineral exploration sites around the world was broken down by region. Canada had the most active mineral exploration sites in the world in that year, with around 532 active sites. With approximately 504 active sites, Australia ranked second. Furthermore, General Electric developed the polycrystalline diamond compact (PDC) in 1971 and has influenced almost every material removal industry. PDC cutter and bit technology has evolved slowly for several years ever since introduction into the drilling market by GE Carboloy at Hughes Tool Co. (HTC) in late 1972. However, Volatile nature of crude oil prices , may impede market growth over the forecast period of 2021-2027.

In 2019, North America dominated the drill bit market, and this trend is projected to continue during the forecast period. The United States, which has been a net energy importer since 1953, is on course to become a net energy exporter by 2022, due to the widespread use of hydraulic fracturing technology and the shale revolution. Drill bit demand is directly affected by oil and gas drilling activity, so increasing drilling activity has resulted in higher drill bit demand in the country.

Major market player included in this report are:

National-Oilwell Varco Inc.

Halliburton Company

Varel International Energy Services Inc.

Schlumberger Limited

Xi'an Landrill Oil Tools Co. Ltd

Baker Hughes Company

Ulterra Drilling Technologies LP

Sandvik AB

Newtech Drilling Products LLC.

Torquato Drilling Accessories

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By type:

Roller Cone Bit

Fixed Cutter Bit

By Deployment location:

Onshore

Offshore

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019

Base year – 2020

Forecast period – 2021 to 2027.

Target Audience of the Global Drill Bit Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors

Chapter 1. Executive Summary

1.1. Market Snapshot

1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)

1.2.1. Drill Bit Market, by Region, 2019-2027 (USD Billion)

1.2.2. Drill Bit Market, by Type, 2019-2027 (USD Billion)

1.2.3. Drill Bit Market, by Deployment Location, 2019-2027 (USD Billion)

1.3. Key Trends

1.4. Estimation Methodology

1.5. Research Assumption

Chapter 2. Global Drill Bit Market Definition and Scope

2.1. Objective of the Study

2.2. Market Definition & Scope

2.2.1. Scope of the Study

2.2.2. Industry Evolution

2.3. Years Considered for the Study

2.4. Currency Conversion Rates

Chapter 3. Global Drill Bit Market Dynamics

3.1. Drill Bit Market Impact Analysis (2019-2027)

3.1.1. Market Drivers

3.1.1.1. increasing exploration and development activities

3.1.1.2. increasing consumption in foundation work and maintenance in housing sectors

3.1.2. Market Restraint

3.1.2.1. Volatile nature of crude oil prices

3.1.3. Market Opportunities

3.1.3.1. Investment in new oil and gas projects

Chapter 4. Global Drill Bit Market: Industry Analysis

4.1. Porter’s 5 Force Model

4.1.1. Bargaining Power of Suppliers

4.1.2. Bargaining Power of Buyers

4.1.3. Threat of New Entrants

4.1.4. Threat of Substitutes

4.1.5. Competitive Rivalry

4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)

4.2. PEST Analysis

4.2.1. Political

4.2.2. Economic

4.2.3. Social

4.2.4. Technological

4.3. Investment Adoption Model

4.4. Analyst Recommendation & Conclusion

Chapter 5. Global Drill Bit Market, by Type

5.1. Market Snapshot

5.2. Global Drill Bit Market by type, Performance - Potential Analysis

5.3. Global Drill Bit Market Estimates & Forecasts by type 2018-2027 (USD Billion)

5.4. Drill Bit Market , Sub Segment Analysis

5.4.1. Roller Cone Bit

5.4.2. Fixed Cutter Bit

Chapter 6. Global Drill Bit Market, by Deployment Location

6.1. Market Snapshot

6.2. Global Drill Bit Market by Deployment location, Performance - Potential Analysis

6.3. Global Drill Bit Market Estimates & Forecasts by Deployment location 2018-2027 (USD Billion)

6.4. Drill Bit Market , Sub Segment Analysis

6.4.1. Onshore

6.4.2. Offshore

Chapter 7. Global Drill Bit Market, Regional Analysis

7.1. Drill Bit Market , Regional Market Snapshot

7.2. North America Drill Bit Market

7.2.1. U.S. Drill Bit Market

7.2.1.1. Type breakdown estimates & forecasts, 2018-2027

7.2.1.2. Deployment location breakdown estimates & forecasts, 2018-2027

7.2.2. Canada Drill Bit Market

7.3. Europe Drill Bit Market Snapshot

7.3.1. U.K. Drill Bit Market

7.3.2. Germany Drill Bit Market

7.3.3. France Drill Bit Market

7.3.4. Spain Drill Bit Market

7.3.5. Italy Drill Bit Market

7.3.6. Rest of Europe Drill Bit Market

7.4. Asia-Pacific Drill Bit Market Snapshot

7.4.1. China Drill Bit Market

7.4.2. India Drill Bit Market

7.4.3. Japan Drill Bit Market

7.4.4. Australia Drill Bit Market

7.4.5. South Korea Drill Bit Market

7.4.6. Rest of Asia Pacific Drill Bit Market

7.5. Latin America Drill Bit Market Snapshot

7.5.1. Brazil Drill Bit Market

7.5.2. Mexico Drill Bit Market

7.6. Rest of The World Drill Bit Market

Chapter 8. Competitive Intelligence

8.1. Top Market Strategies

8.2. Company Profiles

8.2.1. National-Oilwell Varco Inc.

8.2.1.1. Key Information

8.2.1.2. Overview

8.2.1.3. Financial (Subject to Data Availability)

8.2.1.4. Product Summary

8.2.1.5. Recent Developments

8.2.2. Halliburton Company

8.2.3. Varel International Energy Services Inc.

8.2.4. Schlumberger Limited

8.2.5. Xi'an Landrill Oil Tools Co. Ltd

8.2.6. Baker Hughes Company

8.2.7. Ulterra Drilling Technologies LP

8.2.8. Sandvik AB

8.2.9. Newtech Drilling Products LLC.

8.2.10. Torquato Drilling Accessories

Chapter 9. Research Process

9.1. Research Process

9.1.1. Data Mining

9.1.2. Analysis

9.1.3. Market Estimation

9.1.4. Validation

9.1.5. Publishing

9.2. Research Attributes

9.3. Research Assumption

List of Tables

TABLE 1. Global Drill Bit Market, report scope

TABLE 2. Global Drill Bit Market estimates & forecasts by region 2018-2027 (USD Billion)

TABLE 3. Global Drill Bit Market estimates & forecasts by type 2018-2027 (USD Billion)

TABLE 4. Global Drill Bit Market estimates & forecasts by deployment mode 2018-2027 (USD Billion)

TABLE 5. Global Drill Bit Market by segment, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 6. Global Drill Bit Market by region, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 7. Global Drill Bit Market by segment, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 8. Global Drill Bit Market by region, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 9. Global Drill Bit Market by segment, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 10. Global Drill Bit Market by region, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 11. Global Drill Bit Market by segment, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 12. Global Drill Bit Market by region, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 13. Global Drill Bit Market by segment, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 14. Global Drill Bit Market by region, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 15. Global Drill Bit Market by segment, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 16. Global Drill Bit Market by region, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 17. Global Drill Bit Market by segment, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 18. Global Drill Bit Market by region, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 19. Global Drill Bit Market by segment, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 20. Global Drill Bit Market by region, estimates & forecasts, 2018-2027 (USD Billion)

TABLE 21. U.S. Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 22. U.S. Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 23. U.S. Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 24. Canada Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 25. Canada Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 26. Canada Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 27. UK Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 28. UK Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 29. UK Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 30. Germany Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 31. Germany Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 32. Germany Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 33. France Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 34. France Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 35. France Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 36. Spain Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 37. Spain Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 38. Spain Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 39. Italy Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 40. Italy Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 41. Italy Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 42. ROE Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 43. ROE Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 44. ROE Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 45. China Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 46. China Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 47. China Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 48. India Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 49. India Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 50. India Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 51. Japan Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 52. Japan Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 53. Japan Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 54. Australia Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 55. Australia Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 56. Australia Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 57. South Korea Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 58. South Korea Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 59. South KoreaDrill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 60. ROPAC Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 61. ROPAC Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 62. ROPAC Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 63. Brazil Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 64. Brazil Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 65. Brazil Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 66. Mexico Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 67. Mexico Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 68. Mexico Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 69. ROLA Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 70. ROLA Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 71. ROLA Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 72. ROW Drill Bit Market estimates & forecasts, 2018-2027 (USD Billion)

TABLE 73. ROW Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 74. ROW Drill Bit Market estimates & forecasts by segment 2018-2027 (USD Billion)

TABLE 75. List of secondary sources used in the study of Global Drill Bit Market.

TABLE 76. List of primary sources used in the study of Global Drill Bit Market.

TABLE 77. Years considered for the study.

TABLE 78. Exchange rates considered.

 
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