Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Drill Bits in Oil and Gas Market by Type (Fixed Cutter (Polycrystalline Diamond Bits,Natural Diamond Bits), Roller Cone (Milled-tooth Bits,Tungsten Carbide Inserts)), By Application (Onshore Drilling, Offshore Drilling) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Drill Bits in Oil and Gas Market by Type (Fixed Cutter (Polycrystalline Diamond Bits,Natural Diamond Bits), Roller Cone (Milled-tooth Bits,Tungsten Carbide Inserts)), By Application (Onshore Drilling, Offshore Drilling) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 188012 3300 Machinery & Equipment 377 248 Pages 4.6 (50)
                                          

The global drill bits market is projected to grow at a CAGR of 3.5% during the forecast period, to reach USD 2.2 billion by 2030 from USD 1.8 billion in 2018. The growth of the market can be attributed to the increasing demand for drilling equipment and services in oil and gas exploration activities, which is expected to drive the demand for drill bits globally. The fixed cutter segment accounted for over 50% share of the global drill bits market in 2018, followed by roller cone segment with a share of around 30%. Fixed cutter segment is expected to maintain its dominance throughout the forecast period due to its high penetration rate across various applications such as onshore drilling and offshore drilling. Roller cone segment is expected to witness significant growth during the forecast period owing to its low cost per bit and high penetration rate across various applications such as onshore drilling, offshore drilling, well completion & workover operations, etc, which are anticipated to drive this segment’s demand during this time frame.

Some Of The Growth Factors Of This Market:

  1. The drilling industry is a major contributor to the global economy, with an annual turnover of $100 billion.
  2. Drill bits are used in the oil and gas industry for drilling wells into the earth's surface for extracting natural resources such as oil, gas, coal and water.
  3. Drill bits are also used in mining operations where they are used to drill holes into rock formations.
  4. Drill bits can be made from different materials such as steel or tungsten carbide.

Industry Growth Insights published a new data on “Drill Bits in Oil and Gas Market”. The research report is titled “Drill Bits in Oil and Gas Market research by Types (Fixed Cutter (Polycrystalline Diamond Bits,Natural Diamond Bits), Roller Cone (Milled-tooth Bits,Tungsten Carbide Inserts)), By Applications (Onshore Drilling, Offshore Drilling), By Players/Companies Schlumberger, Baker Hughes, Halliburton, Varel International, National Oilwell Varco, Atlas Copco, National Oilwell Varco, NewTech Drilling Products, Century Products, Torquato, Drilformance, Drill King International, DRILBITS International (DBI)”.

Scope Of The Report

Report Attributes

Report Details

Report Title

Drill Bits in Oil and Gas Market Research Report

By Type

Fixed Cutter (Polycrystalline Diamond Bits,Natural Diamond Bits), Roller Cone (Milled-tooth Bits,Tungsten Carbide Inserts)

By Application

Onshore Drilling, Offshore Drilling

By Companies

Schlumberger, Baker Hughes, Halliburton, Varel International, National Oilwell Varco, Atlas Copco, National Oilwell Varco, NewTech Drilling Products, Century Products, Torquato, Drilformance, Drill King International, DRILBITS International (DBI)

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year

2021

Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year

2030

Number of Pages

248

Number of Tables & Figures

174

Customization Available

Yes, the report can be customized as per your need.


Global Drill Bits in Oil and Gas Industry Outlook


Global Drill Bits in Oil and Gas Market Report Segments:

The global Drill Bits in Oil and Gas market is segmented on the basis of:

Types

Fixed Cutter (Polycrystalline Diamond Bits,Natural Diamond Bits), Roller Cone (Milled-tooth Bits,Tungsten Carbide Inserts)

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.

Applications

Onshore Drilling, Offshore Drilling

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. Schlumberger
  2. Baker Hughes
  3. Halliburton
  4. Varel International
  5. National Oilwell Varco
  6. Atlas Copco
  7. National Oilwell Varco
  8. NewTech Drilling Products
  9. Century Products
  10. Torquato
  11. Drilformance
  12. Drill King International
  13. DRILBITS International (DBI)

Global Drill Bits in Oil and Gas Market Overview


Highlights of The Drill Bits in Oil and Gas Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Fixed Cutter (Polycrystalline Diamond Bits,Natural Diamond Bits)
    2. Roller Cone (Milled-tooth Bits,Tungsten Carbide Inserts)
  1. By Application:

    1. Onshore Drilling
    2. Offshore Drilling
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Drill Bits in Oil and Gas Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

  • Correctly Positioning New Products
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  • Understanding Competition Scenario
  • Product & Brand Management
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Global Drill Bits in Oil and Gas Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?


Drill bits are used in oil and gas drilling to create a hole in the ground.

Some of the major players in the drill bits in oil and gas market are Schlumberger, Baker Hughes, Halliburton, Varel International, National Oilwell Varco, Atlas Copco, National Oilwell Varco, NewTech Drilling Products, Century Products, Torquato, Drilformance, Drill King International, DRILBITS International (DBI).

The drill bits in oil and gas market is expected to grow at a compound annual growth rate of 3.5%.

                                            
1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Drill Bits in Oil and Gas Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Drill Bits in Oil and Gas Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Drill Bits in Oil and Gas Market - Supply Chain
   4.5. Global Drill Bits in Oil and Gas Market Forecast
      4.5.1. Drill Bits in Oil and Gas Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Drill Bits in Oil and Gas Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Drill Bits in Oil and Gas Market Absolute $ Opportunity

5. Global Drill Bits in Oil and Gas Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Drill Bits in Oil and Gas Market Size and Volume Forecast by Type
      5.3.1. Fixed Cutter (Polycrystalline Diamond Bits,Natural Diamond Bits)
      5.3.2. Roller Cone (Milled-tooth Bits,Tungsten Carbide Inserts)
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Drill Bits in Oil and Gas Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Drill Bits in Oil and Gas Market Size and Volume Forecast by Application
      6.3.1. Onshore Drilling
      6.3.2. Offshore Drilling
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Drill Bits in Oil and Gas Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Drill Bits in Oil and Gas Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Drill Bits in Oil and Gas Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Drill Bits in Oil and Gas Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Drill Bits in Oil and Gas Demand Share Forecast, 2019-2026

9. North America Drill Bits in Oil and Gas Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Drill Bits in Oil and Gas Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Drill Bits in Oil and Gas Market Size and Volume Forecast by Application
      9.4.1. Onshore Drilling
      9.4.2. Offshore Drilling
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Drill Bits in Oil and Gas Market Size and Volume Forecast by Type
      9.7.1. Fixed Cutter (Polycrystalline Diamond Bits,Natural Diamond Bits)
      9.7.2. Roller Cone (Milled-tooth Bits,Tungsten Carbide Inserts)
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Drill Bits in Oil and Gas Demand Share Forecast, 2019-2026

10. Latin America Drill Bits in Oil and Gas Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Drill Bits in Oil and Gas Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Drill Bits in Oil and Gas Market Size and Volume Forecast by Application
      10.4.1. Onshore Drilling
      10.4.2. Offshore Drilling
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Drill Bits in Oil and Gas Market Size and Volume Forecast by Type
      10.7.1. Fixed Cutter (Polycrystalline Diamond Bits,Natural Diamond Bits)
      10.7.2. Roller Cone (Milled-tooth Bits,Tungsten Carbide Inserts)
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Drill Bits in Oil and Gas Demand Share Forecast, 2019-2026

11. Europe Drill Bits in Oil and Gas Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Drill Bits in Oil and Gas Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Drill Bits in Oil and Gas Market Size and Volume Forecast by Application
      11.4.1. Onshore Drilling
      11.4.2. Offshore Drilling
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Drill Bits in Oil and Gas Market Size and Volume Forecast by Type
      11.7.1. Fixed Cutter (Polycrystalline Diamond Bits,Natural Diamond Bits)
      11.7.2. Roller Cone (Milled-tooth Bits,Tungsten Carbide Inserts)
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Drill Bits in Oil and Gas Demand Share, 2019-2026

12. Asia Pacific Drill Bits in Oil and Gas Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Drill Bits in Oil and Gas Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Drill Bits in Oil and Gas Market Size and Volume Forecast by Application
      12.4.1. Onshore Drilling
      12.4.2. Offshore Drilling
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Drill Bits in Oil and Gas Market Size and Volume Forecast by Type
      12.7.1. Fixed Cutter (Polycrystalline Diamond Bits,Natural Diamond Bits)
      12.7.2. Roller Cone (Milled-tooth Bits,Tungsten Carbide Inserts)
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Drill Bits in Oil and Gas Demand Share, 2019-2026

13. Middle East & Africa Drill Bits in Oil and Gas Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Drill Bits in Oil and Gas Market Size and Volume Forecast by Country
      13.2.1. Saudi Arabia
      13.2.2. South Africa
      13.2.3. UAE
      13.2.4. Rest of Middle East & Africa (MEA)
   13.3. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Drill Bits in Oil and Gas Market Size and Volume Forecast by Application
      13.4.1. Onshore Drilling
      13.4.2. Offshore Drilling
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Drill Bits in Oil and Gas Market Size and Volume Forecast by Type
      13.7.1. Fixed Cutter (Polycrystalline Diamond Bits,Natural Diamond Bits)
      13.7.2. Roller Cone (Milled-tooth Bits,Tungsten Carbide Inserts)
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Drill Bits in Oil and Gas Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global Drill Bits in Oil and Gas Market: Market Share Analysis
   14.2. Drill Bits in Oil and Gas Distributors and Customers
   14.3. Drill Bits in Oil and Gas Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Schlumberger
         14.4.1.1. Overview
         14.4.1.2. Financials
         14.4.1.3. Developments
         14.4.1.4. Strategic Outlook
      14.4.2. Baker Hughes
         14.4.2.1. Overview
         14.4.2.2. Financials
         14.4.2.3. Developments
         14.4.2.4. Strategic Outlook
      14.4.3. Halliburton
         14.4.3.1. Overview
         14.4.3.2. Financials
         14.4.3.3. Developments
         14.4.3.4. Strategic Outlook
      14.4.4. Varel International
         14.4.4.1. Overview
         14.4.4.2. Financials
         14.4.4.3. Developments
         14.4.4.4. Strategic Outlook
      14.4.5. National Oilwell Varco
         14.4.5.1. Overview
         14.4.5.2. Financials
         14.4.5.3. Developments
         14.4.5.4. Strategic Outlook
      14.4.6. Atlas Copco
         14.4.6.1. Overview
         14.4.6.2. Financials
         14.4.6.3. Developments
         14.4.6.4. Strategic Outlook
      14.4.7. National Oilwell Varco
         14.4.7.1. Overview
         14.4.7.2. Financials
         14.4.7.3. Developments
         14.4.7.4. Strategic Outlook
      14.4.8. NewTech Drilling Products
         14.4.8.1. Overview
         14.4.8.2. Financials
         14.4.8.3. Developments
         14.4.8.4. Strategic Outlook
      14.4.9. Century Products
         14.4.9.1. Overview
         14.4.9.2. Financials
         14.4.9.3. Developments
         14.4.9.4. Strategic Outlook
      14.4.10. Torquato
         14.4.10.1. Overview
         14.4.10.2. Financials
         14.4.10.3. Developments
         14.4.10.4. Strategic Outlook
      14.4.11. Drilformance
         14.4.11.1. Overview
         14.4.11.2. Financials
         14.4.11.3. Developments
         14.4.11.4. Strategic Outlook
      14.4.12. Drill King International
         14.4.12.1. Overview
         14.4.12.2. Financials
         14.4.12.3. Developments
         14.4.12.4. Strategic Outlook
      14.4.13. DRILBITS International (DBI)
         14.4.13.1. Overview
         14.4.13.2. Financials
         14.4.13.3. Developments
         14.4.13.4. Strategic Outlook
      14.4.14. COMPANY 14
         14.4.14.1. Overview
         14.4.14.2. Financials
         14.4.14.3. Developments
         14.4.14.4. Strategic Outlook
      14.4.15. COMPANY 15
         14.4.15.1. Overview
         14.4.15.2. Financials
         14.4.15.3. Developments
         14.4.15.4. Strategic Outlook
      14.4.16. COMPANY 16
         14.4.16.1. Overview
         14.4.16.2. Financials
         14.4.16.3. Developments
         14.4.16.4. Strategic Outlook
      14.4.17. COMPANY 17
         14.4.17.1. Overview
         14.4.17.2. Financials
         14.4.17.3. Developments
         14.4.17.4. Strategic Outlook
      14.4.18. COMPANY 18
         14.4.18.1. Overview
         14.4.18.2. Financials
         14.4.18.3. Developments
         14.4.18.4. Strategic Outlook
      14.4.19. COMPANY 19
         14.4.19.1. Overview
         14.4.19.2. Financials
         14.4.19.3. Developments
         14.4.19.4. Strategic Outlook
      14.4.20. COMPANY 20
         14.4.20.1. Overview
         14.4.20.2. Financials
         14.4.20.3. Developments
         14.4.20.4. Strategic Outlook

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