Global Drill Bits Market is segmented by Type (Fixed cutter bits (Natural diamond and Polycrystalline diamond), roller cone cutter (Milled-tooth Bits and Tungsten Carbide Inserts), Application (Onshore and Offshore) and Region – Forecast till 2023.
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The key players in the global Drill Bits market include:
Atlas Copco (Sweden), Baker Hughes Inc. (U.S), Cangzhou Great Drill Bits Co., Ltd. (China), ESCO Corporation (U.S), Halliburton Company (U.S.), and Irwin Industrial Tool Company (U.S.). NewTech Drilling Products LLC (Russia) National Oilwell Varco Inc (U.S.), Scientific Drilling International Inc (U.S.), Kingdream Public Limited Company (China), Varel International, Inc (U.S.), Torquato Drilling Accessories, Inc. (U.S.), and Ulterra Drilling Technologies (U.S) are among others.
The market is at an optimally productive level and will be capable of generating greater value for the firms in the market and its shareholders. Although, the market has also considerably neutralized the market advantages and thus is promoting an increase in the number of firms in the market. The diversification of the product assortment in the market is increasing the opportunity for the progress of the market.
The leadership trends in the market are reinforcing the level of growth that can be achieved in the present market scenario. The evolution patterns are reviewed in tandem to the customer likings to realize the highest growth, and in the long run, viability. The ability to utilize the economies of scale is further proving to be beneficial for overall market growth. The potential for profitability in a market has been determined to be optimistic which will be fruitful for future expansions.
Market Segments Analysis:
The global drill market is segmented on the basis of type of drill and by applications. Based on type, the market is segmented as fixed cutter bits and roller cone cutter bits. In the fixed cutter drill bits, polycrystalline diamond bits and natural diamond bits contribute major share. The roller cone cutter drill bits are further classified as milled-tooth bits and tungsten carbide inserts. Based on application, the market is segmented as onshore and offshore applications. With advancement in unconventional drilling techniques such as horizontal and vertical drilling activities, drilling activities are expected to witness further increase, which in turn would drive the market for drill bits.
The regional analysis of the market comprises of regions such as Europe, Asia Pacific, North America and the rest of the world. The North American region is likely to be the chief market for drill bits with amplified horizontal drilling and unconventional drilling activities. The U.S. has, in recent times, set itself up as a main crude oil producing nation with amplified onshore drilling undertakings for extraction of shale oil and gas.
Additionally, the Gulf of Mexico region is observing amplified oil and gas enhanced recovery projects that can raise the operating life of maturing oil wells. With rising shale gas development projects in China, the Asia Pacific region is also anticipated to observe speedy growth for the drill bits market. With the escalation in oil and gas discovery activities in nations such as Australia, Philippines, and Indonesia the region is anticipated to observe high demand for drill bits.
TABLE OF CONTENTS:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 RESEARCH OBJECTIVES
2.2.2 ASSUMPTIONS & LIMITATIONS
2.3 MARKETS STRUCTURE
3 MARKET RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 SECONDARY RESEARCH
3.3 PRIMARY RESEARCH
3.4 FORECAST MODEL
4 MARKET LANDSCAPE
4.1 FIVE FORCES ANALYSIS
4.1.1 THREAT OF NEW ENTRANTS
4.1.2 BARGAINING POWER OF BUYERS
4.1.3 BARGAINING POWER OF SUPPLIERS
4.1.4 THREAT OF SUBSTITUTES
4.1.5 SEGMENT RIVALRY
4.2 VALUE CHAIN/SUPPLY CHAIN OF GLOBAL DRILL BITS MARKET
5 INDUSTRY OVERVIEW OF GLOBAL DRILL BITS MARKET
5.2 GROWTH DRIVERS
5.3 IMPACT ANALYSIS
5.4 MARKET CHALLENGES
LIST OF TABLES:
TABLE 1 GLOBAL DRILL BITS MARKET: BY REGION, 2017-2023
TABLE 2 NORTH AMERICA DRILL BITS MARKET: BY COUNTRY, 2017-2023
TABLE 3 EUROPE DRILL BITS MARKET: BY COUNTRY, 2017-2023
TABLE 4 ASIA PACIFIC DRILL BITS MARKET: BY COUNTRY, 2017-2023
TABLE 5 MIDDLE EAST & AFRICA DRILL BITS MARKET: BY COUNTRY, 2017-2023
TABLE 6 LATIN AMERICA DRILL BITS MARKET: BY COUNTRY, 2017-2023
LIST OF FIGURES:
FIGURE 1 GLOBAL DRILL BITS MARKET SEGMENTATION
FIGURE 2 FORECAST METHODOLOGY
FIGURE 3 FIVE FORCES ANALYSIS OF GLOBAL DRILL BITS MARKET
FIGURE 4 VALUE CHAIN OF GLOBAL DRILL BITS MARKET
FIGURE 5 SHARE OF GLOBAL DRILL BITS MARKET IN 2017, BY COUNTRY (IN %)
FIGURE 6 GLOBAL DRILL BITS MARKET, 2017-2023,
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