The global gas and oil drill bits market is expected to grow at a CAGR of 3.5% during the forecast period, to reach USD 2.2 billion by 2030. The growth of this market is driven by the increasing demand for drilling equipment in emerging economies such as China and India, which are witnessing an increase in exploration activities for natural gas and oil reserves. The increasing number of offshore drilling projects in regions such as Asia Pacific, Middle East & Africa, Europe, Latin America and North America is also driving the growth of this market.
The fixed cutter segment accounted for the largest share of the global gas and oil drill bits market in 2017 due to its high penetration rate among end-users across various applications such as onshore drilling rigs, offshore rigs and directional drills. The roller cone segment accounted for a significant share owing to its high penetration rate among end-users across various applications such as onshore drilling rigs, offshore rigs and directional drills.
Some Of The Growth Factors Of This Market:
- The demand for gas and oil drill bits is expected to increase in the near future due to the increasing demand for natural gas and crude oil.
- The increasing number of drilling rigs in the world will also lead to an increase in demand for drill bits.
- The need for more efficient drilling methods will also lead to an increase in demand for drill bits as they are used as a key component of these methods.
- Increasing environmental awareness has led to a decrease in the use of fossil fuels, which has led to an increased need for alternative energy sources such as natural gas and crude oil, which will lead to an increased need for drill bits.
- Increasing population growth rates have led to increased urbanization, which has led people into closer proximity with each other, leading them into more frequent contact with water sources that can be contaminated by sewage or industrial waste.
Industry Growth Insights published a new data on “Gas and Oil Drill Bits Market”. The research report is titled “Gas and Oil Drill Bits Market research by Types (Fixed Cutter, Roller Cone, Other), By Applications (Onshore, Offshore), By Players/Companies Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, Varel International, Atlas Copco AB, Bellwether Resources International, Bit Brokers International, Century Products, Drillbits International (DBI), Drilformance”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Gas and Oil Drill Bits Market Research Report
By Type
Fixed Cutter, Roller Cone, Other
By Application
Onshore, Offshore
By Companies
Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, Varel International, Atlas Copco AB, Bellwether Resources International, Bit Brokers International, Century Products, Drillbits International (DBI), Drilformance
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
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Gas and Oil Drill Bits Market Report Segments:
The global Gas and Oil Drill Bits market is segmented on the basis of:
Types
Fixed Cutter, Roller Cone, Other
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, Offshore
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:
- Baker Hughes
- Halliburton
- National Oilwell Varco
- Schlumberger
- Varel International
- Atlas Copco AB
- Bellwether Resources International
- Bit Brokers International
- Century Products
- Drillbits International (DBI)
- Drilformance
Highlights of The Gas and Oil Drill Bits Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Fixed Cutter
- Roller Cone
- Other
- By Application:
- Onshore
- Offshore
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Gas and Oil Drill Bits 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.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A gas and oil drill bit is a type of drilling bit that is used to extract natural gas and oil from the ground. These bits are made out of a variety of materials, including steel, titanium, and copper. They are typically shaped like a cone or an arrowhead.
Some of the major companies in the gas and oil drill bits market are Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, Varel International, Atlas Copco AB, Bellwether Resources International, Bit Brokers International, Century Products, Drillbits International (DBI), Drilformance.
The gas and oil drill bits market is expected to register a CAGR of 3.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Gas and Oil Drill Bits 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. Gas and Oil Drill Bits Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Gas and Oil Drill Bits Market - Supply Chain
4.5. Global Gas and Oil Drill Bits Market Forecast
4.5.1. Gas and Oil Drill Bits Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Gas and Oil Drill Bits Market Size (000 Units) and Y-o-Y Growth
4.5.3. Gas and Oil Drill Bits Market Absolute $ Opportunity
5. Global Gas and Oil Drill Bits 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. Gas and Oil Drill Bits Market Size and Volume Forecast by Type
5.3.1. Fixed Cutter
5.3.2. Roller Cone
5.3.3. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Gas and Oil Drill Bits 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. Gas and Oil Drill Bits Market Size and Volume Forecast by Application
6.3.1. Onshore
6.3.2. Offshore
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Gas and Oil Drill Bits 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. Gas and Oil Drill Bits 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 Gas and Oil Drill Bits 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. Gas and Oil Drill Bits 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 Gas and Oil Drill Bits Demand Share Forecast, 2019-2026
9. North America Gas and Oil Drill Bits 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 Gas and Oil Drill Bits 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 Gas and Oil Drill Bits Market Size and Volume Forecast by Application
9.4.1. Onshore
9.4.2. Offshore
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Gas and Oil Drill Bits Market Size and Volume Forecast by Type
9.7.1. Fixed Cutter
9.7.2. Roller Cone
9.7.3. Other
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 Gas and Oil Drill Bits Demand Share Forecast, 2019-2026
10. Latin America Gas and Oil Drill Bits 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 Gas and Oil Drill Bits 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 Gas and Oil Drill Bits Market Size and Volume Forecast by Application
10.4.1. Onshore
10.4.2. Offshore
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Gas and Oil Drill Bits Market Size and Volume Forecast by Type
10.7.1. Fixed Cutter
10.7.2. Roller Cone
10.7.3. Other
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 Gas and Oil Drill Bits Demand Share Forecast, 2019-2026
11. Europe Gas and Oil Drill Bits 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 Gas and Oil Drill Bits 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 Gas and Oil Drill Bits Market Size and Volume Forecast by Application
11.4.1. Onshore
11.4.2. Offshore
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Gas and Oil Drill Bits Market Size and Volume Forecast by Type
11.7.1. Fixed Cutter
11.7.2. Roller Cone
11.7.3. Other
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 Gas and Oil Drill Bits Demand Share, 2019-2026
12. Asia Pacific Gas and Oil Drill Bits 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 Gas and Oil Drill Bits 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 Gas and Oil Drill Bits Market Size and Volume Forecast by Application
12.4.1. Onshore
12.4.2. Offshore
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Gas and Oil Drill Bits Market Size and Volume Forecast by Type
12.7.1. Fixed Cutter
12.7.2. Roller Cone
12.7.3. Other
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 Gas and Oil Drill Bits Demand Share, 2019-2026
13. Middle East & Africa Gas and Oil Drill Bits 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 Gas and Oil Drill Bits 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 Gas and Oil Drill Bits Market Size and Volume Forecast by Application
13.4.1. Onshore
13.4.2. Offshore
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Gas and Oil Drill Bits Market Size and Volume Forecast by Type
13.7.1. Fixed Cutter
13.7.2. Roller Cone
13.7.3. Other
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 Gas and Oil Drill Bits Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Gas and Oil Drill Bits Market: Market Share Analysis
14.2. Gas and Oil Drill Bits Distributors and Customers
14.3. Gas and Oil Drill Bits Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Baker Hughes
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Halliburton
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. National Oilwell Varco
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Schlumberger
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Varel International
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 AB
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Bellwether Resources International
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Bit Brokers International
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. Drillbits International (DBI)
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. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
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
