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Global Oil and Gas Drill Bits Market By Material (Steel, Diamond & Tungsten Carbide), By Type (Fixed Cutter Bits & Roller Cone Bits), By Application (Offshore & Onshore), By Region, Competition, Forecast & Opportunities, 2024

  • ID: 4769685
  • Report
  • Region: Global
  • 122 pages
  • TechSci Research
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Global Oil and Gas Drill Bits Market Stood at 3.3 Billion in 2018 and is Projected to Grow at a CAGR of 6.8% During 2019-2024.

FEATURED COMPANIES

  • Baker Hughes
  • Epiroc
  • Halliburton Inc.
  • Sandvik
  • Schlumberger
  • Ulterra
  • MORE
The global oil and gas drill bits market stood at 3.3 billion in 2018 and is projected to grow at a CAGR of 6.8% during 2019-2024 to reach $ 5.5 billion by 2024, owing to increasing shale gas exploration activities and rising demand for customized drilling bits that can handle unconventional rock formation. These drill bits are widely used during shale gas exploration. With increasing shale gas exploration, the demand for these drill bits is also growing. Drill bits are used in oil and gas operations to drill and create holes for oil and gas extraction. The drill bits are rotating apparatus that are made up of hardest materials and sharp texture to cut into a rock and sediments. The main purpose of drill bits is to grind, cut, scrape and crush the rock at the bottom of the well. The drill bits industry is changing rapidly with new manufacturing technology and increasing use of new materials in drill bits production process.

Based on application, the global oil and gas drill bits market has been categorized into onshore drilling and offshore drilling. The onshore drilling application is expected to account for the largest market share in coming years, backed by increasing onshore drilling activities across various regions. With directionless drilling, new oil and gas sources are being drilled in previously unexplored and unconventional regions. This is expected to drive the market for oil and gas drill bits. However, stringent government regulations surrounding the onshore drilling activities are expected to act as a restraint for the drill bits market.

Oil and gas resources are geographically distributed, and the oil field drill bits market is highly dependent on oil and gas exploration activities. North America is extensively engaged in oil and gas exploration activities and is expected to emerge as the most attractive regional market during the forecast period. Moreover, Brazil, China and Saudi Arabia have significant resources of oil and gas, thereby resulting in huge growth opportunities for the oil and gas drill bit market players.

Some of the major companies operating in the global oil and gas drill bits market are Schlumberger, Baker Hughes, Sandvik, NewTech Drilling Products LLC, National Oil-well Varco Inc. and Halliburton Inc.

Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024

Objective of the Study:
  • To analyze and forecast the global oil and gas drill bits market size.
  • To forecast the global oil and gas drill bits market based on type, material, application and regional distribution.
  • To identify drivers and challenges for the global oil and gas drill bits markets
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global oil and gas drill bits markets
  • To conduct the pricing analysis for the global oil and gas drill bits market.
  • To identify and analyze the profile of leading players operating in the global oil and gas drill bits market.
Some of the leading players in the global oil and gas drill bits market are National Oil-well Varco Inc., Halliburton Inc., Scientific Drilling International Inc., Torquato Drilling Accessories Inc., Epiroc, Kingdream Public Limited Company and Schlumberger.

Both primary as well as exhaustive secondary research was conducted for this study. Initially, the researchers sourced a list of oil and gas drill bit manufacturers across the globe were analysed. Subsequently, primary research surveys were conducted with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the researchers could include the suppliers which could not be identified due to the limitations of secondary research could be included. The product offerings, distribution channels and presence of all major oil and gas drill bit manufacturers across the globe were analysed.

The global oil and gas drill bits market size using a bottom-up approach, where data for various end-user industries and its application across various types were recorded and forecast for the future years was made. These values are sourced from the industry experts and company representatives and externally validated through analyzing historical data of these types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used.

Key Target Audience:
  • Oil and gas drill bit manufacturers, suppliers, distributors and other stakeholders
  • Oil and gas drill bit end-user industries
  • Organizations, forums and alliances related to the oil and gas drill bits market
  • Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as drill bit providers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:

In this report, the global oil and gas drill bits market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Market, by Material
  • Steel
  • Diamond
  • Tungsten Carbide
Market, by Type
  • Fixed Cutter Bits
  • Polycrystalline Diamond Bits
  • Natural Diamond Bits
  • Roller Cone Bits
  • Milled-Tooth Bits
  • Tungsten Carbide Inserts
Market, by Application
  • Offshore
  • Onshore
Market, by Region:
  • North America
  • United States
  • Mexico
  • Canada
  • Europe
  • Russia
  • Norway
  • United Kingdom
  • Denmark
  • Netherlands
  • Asia-Pacific
  • China
  • India
  • Australia
  • Vietnam
  • Indonesia
  • Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Iraq
  • South America
  • Brazil
  • Argentina
  • Colombia
  • Venezuela
Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global oil and gas drill bits market.

Available Customizations:

With the given market data, customizations are offered according to a company’s specific needs. The following customization options are available for the report:

Company Information
  • Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
  • Profit margin analysis in case of direct and indirect sales channel.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Baker Hughes
  • Epiroc
  • Halliburton Inc.
  • Sandvik
  • Schlumberger
  • Ulterra
  • MORE
1. Product Overview

2. Research Methodology

3. Executive Summary

4. Voice of Customer
4.1. Factors considered while selecting a supplier
4.2. Product awareness and applicability & usage analysis
4.3. Challenges/issues faced post purchase
4.4. Unmet needs

5. Global Oil and Gas Drill Bits Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Material (Steel; Diamond; Tungsten Carbide)
5.2.2. By Type (Fixed Cutter Bits - Polycrystalline Diamond Bits, Natural Diamond Bits; Roller Cone Cutter Bits - Milled-Tooth Bits, Tungsten Carbide Inserts)
5.2.3. By Application (Offshore; Onshore)
5.2.4. By Region (North America; Europe; Asia-Pacific; Middle East & Africa; South America)
5.2.5. By Company (2018)
5.3. Market Attractiveness Index (By Material; By Type; By Application; By Region)

6. North America Oil and Gas Drill Bits Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Material
6.2.2. By Type
6.2.3. By Application
6.2.4. By Country
6.3. United States Oil and Gas Drill Bits Market Outlook
6.3.1. Market Size & Forecast
6.3.1.1. By Value
6.3.2. Market Share & Forecast
6.3.2.1. By Material
6.3.2.2. By Type
6.3.2.3. By Application
6.4. Canada Oil and Gas Drill Bits Market Outlook
6.4.1. Market Size & Forecast
6.4.1.1. By Value
6.4.2. Market Share & Forecast
6.4.2.1. By Material
6.4.2.2. By Type
6.4.2.3. By Application
6.5. Mexico Oil and Gas Drill Bits Market Outlook
6.5.1. Market Size & Forecast
6.5.1.1. By Value
6.5.2. Market Share & Forecast
6.5.2.1. By Material
6.5.2.2. By Type
6.5.2.3. By Application

7. Europe Oil and Gas Drill Bits Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Material
7.2.2. By Type
7.2.3. By Application
7.2.4. By Country
7.3. Russia Oil and Gas Drill Bits Market Outlook
7.3.1. Market Size & Forecast
7.3.1.1. By Value
7.3.2. Market Share & Forecast
7.3.2.1. By Material
7.3.2.2. By Type
7.3.2.3. By Application
7.4. Norway Oil and Gas Drill Bits Market Outlook
7.4.1. Market Size & Forecast
7.4.1.1. By Value
7.4.2. Market Share & Forecast
7.4.2.1. By Material
7.4.2.2. By Type
7.4.2.3. By Application
7.5. United Kingdom Oil and Gas Drill Bits Market Outlook
7.5.1. Market Size & Forecast
7.5.1.1. By Value
7.5.2. Market Share & Forecast
7.5.2.1. By Material
7.5.2.2. By Type
7.5.2.3. By Application
7.6. Denmark Oil and Gas Drill Bits Market Outlook
7.6.1. Market Size & Forecast
7.6.1.1. By Value
7.6.2. Market Share & Forecast
7.6.2.1. By Material
7.6.2.2. By Type
7.6.2.3. By Application
7.7. Netherlands Oil and Gas Drill Bits Market Outlook
7.7.1. Market Size & Forecast
7.7.1.1. By Value
7.7.2. Market Share & Forecast
7.7.2.1. By Material
7.7.2.2. By Type
7.7.2.3. By Application

8. Asia-Pacific Oil and Gas Drill Bits Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Material
8.2.2. By Type
8.2.3. By Application
8.2.4. By Country
8.3. China Oil and Gas Drill Bits Market Outlook
8.3.1. Market Size & Forecast
8.3.1.1. By Value
8.3.2. Market Share & Forecast
8.3.2.1. By Material
8.3.2.2. By Type
8.3.2.3. By Application
8.4. India Oil and Gas Drill Bits Market Outlook
8.4.1. Market Size & Forecast
8.4.1.1. By Value
8.4.2. Market Share & Forecast
8.4.2.1. By Material
8.4.2.2. By Type
8.4.2.3. By Application
8.5. Australia Oil and Gas Drill Bits Market Outlook
8.5.1. Market Size & Forecast
8.5.1.1. By Value
8.5.2. Market Share & Forecast
8.5.2.1. By Material
8.5.2.2. By Type
8.5.2.3. By Application
8.6. Vietnam Oil and Gas Drill Bits Market Outlook
8.6.1. Market Size & Forecast
8.6.1.1. By Value
8.6.2. Market Share & Forecast
8.6.2.1. By Material
8.6.2.2. By Type
8.6.2.3. By Application
8.7. Indonesia Oil and Gas Drill Bits Market Outlook
8.7.1. Market Size & Forecast
8.7.1.1. By Value
8.7.2. Market Share & Forecast
8.7.2.1. By Material
8.7.2.2. By Type
8.7.2.3. By Application
8.7.2.4.

9. Middle East & Africa Oil and Gas Drill Bits Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Material
9.2.2. By Type
9.2.3. By Application
9.2.4. By Country
9.3. South Africa Oil and Gas Drill Bits Market Outlook
9.3.1. Market Size & Forecast
9.3.1.1. By Value
9.3.2. Market Share & Forecast
9.3.2.1. By Material
9.3.2.2. By Type
9.3.2.3. By Application
9.4. Saudi Arabia Oil and Gas Drill Bits Market Outlook
9.4.1. Market Size & Forecast
9.4.1.1. By Value
9.4.2. Market Share & Forecast
9.4.2.1. By Material
9.4.2.2. By Type
9.4.2.3. By Application
9.5. UAE Oil and Gas Drill Bits Market Outlook
9.5.1. Market Size & Forecast
9.5.1.1. By Value
9.5.2. Market Share & Forecast
9.5.2.1. By Material
9.5.2.2. By Type
9.5.2.3. By Application
9.6. Iraq Oil and Gas Drill Bits Market Outlook
9.6.1. Market Size & Forecast
9.6.1.1. By Value
9.6.2. Market Share & Forecast
9.6.2.1. By Material
9.6.2.2. By Type
9.6.2.3. By Application

10. South America Oil and Gas Drill Bits Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Material
10.2.2. By Type
10.2.3. By Application
10.2.4. By Country
10.3. Brazil Oil and Gas Drill Bits Market Outlook
10.3.1. Market Size & Forecast
10.3.1.1. By Value
10.3.2. Market Share & Forecast
10.3.2.1. By Material
10.3.2.2. By Type
10.3.2.3. By Application
10.4. Argentina Oil and Gas Drill Bits Market Outlook
10.4.1. Market Size & Forecast
10.4.1.1. By Value
10.4.2. Market Share & Forecast
10.4.2.1. By Material
10.4.2.2. By Type
10.4.2.3. By Application
10.5. Colombia Oil and Gas Drill Bits Market Outlook
10.5.1. Market Size & Forecast
10.5.1.1. By Value
10.5.2. Market Share & Forecast
10.5.2.1. By Material
10.5.2.2. By Type
10.5.2.3. By Application
10.6. Venezuela Oil and Gas Drill Bits Market Outlook
10.6.1. Market Size & Forecast
10.6.1.1. By Value
10.6.2. Market Share & Forecast
10.6.2.1. By Material
10.6.2.2. By Type
10.6.2.3. By Application

11. Market Dynamics
11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

13. Competitive Landscape
13.1. Competition Outlook
13.2. Company Profiles
13.2.1. Basic Details
13.2.2. Financials (As reported)
13.2.3. Supply Chain Analysis
13.2.4. Key Market Focus and Geographical Presence
13.2.5. Planned Investments
13.2.6. Pricing of Target Products
13.2.7. Market positioning
13.3. Global Players Profiled (Leading Companies)
13.3.1. Schlumberger
13.3.2. Baker Hughes
13.3.3. Halliburton Inc.
13.3.4. National Oil-well Varco, Inc.
13.3.5. Sandvik
13.3.6. Scientific Drilling International Inc.
13.3.7. Torquato Drilling Accessories Inc
13.3.8. Epiroc
13.3.9. Kingdream Public Limited Company
13.3.10. Ulterra
(Note: The companies list can be customized based on the client requirements)

14. Strategic Recommendations

*Full List of Figures Available on Enquiry.
Note: Product cover images may vary from those shown
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  • Schlumberger
  • Baker Hughes
  • Halliburton Inc.
  • National Oil-well Varco, Inc.
  • Sandvik
  • Scientific Drilling International Inc.
  • Torquato Drilling Accessories Inc
  • Epiroc
  • Kingdream Public Limited Company
  • Ulterra
Note: Product cover images may vary from those shown
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