Market Overview:
The global boring tools market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for oil and gas across the globe. Additionally, the growing demand for drilling and exploration activities in onshore and offshore applications is also contributing to the growth of this market. The drill bits segment is expected to hold a major share of the global boring tools market during the forecast period. This can be attributed to their high usage in various drilling applications.
Product Definition:
A boring tool is a cutting tool used to create cylindrical holes, usually by rotary motion.
Drill Bits:
Drill bits are small cutting tools that are used in the metal working industry for drilling purposes. The growth factor in the market is determined by two major factors, firstly by looking at the end use industries and secondly by analyzing the demand generated from within these industries. In our case, drill bits are primarily used to create holes through materials such as metals or wood with a cylindrical shape for its usage in various applications such as furniture making, machine parts manufacturing and so on.
Drilling Tubulars:
Drilling tubulars are used in boring tools to provide a stable and rigid structure for the drilling string. The basic function of drilling tubulars is to guide the drill string while performing rotary or vertical boring operations. Drilling tubulars can be segmented into two types on the basis of their construction: single-piece and multi-piece.
Application Insights:
Onshore application dominated the global boring tools market in 2017, accounting for over 60.0% share of the total revenue. The segment is expected to witness significant growth owing to rising demand from oil and gas exploration activities across various regions including North America, Europe, Asia Pacific and Middle East & Africa.
The offshore segment is projected to expand at a CAGR of XX% over the forecast period on account of growing demand from energy sector including wind turbines and solar panels among others for installation purposes globally.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has witnessed a significant increase in drilling activities owing to growing demand for energy, water, and oil coupled with government support for infrastructural development. China is anticipated to be one of the major contributors towards regional growth owing to increasing investments by foreign players coupled with rising domestic demand for borehole tools.
The Middle East & Africa region is projected to grow at a lucrative rate over the forecast period due to increasing offshore drilling activities across countries such as Saudi Arabia, UAE, Kuwait, Qatar and Egypt.
Growth Factors:
- Increasing demand for automation in manufacturing sector
- Rising demand for precision and accuracy in drilling and cutting operations
- Growing popularity of Boring Tools among DIY enthusiasts and hobbyists
- Increasing use of Boring Tools in construction and automotive industries
- Technological advancements leading to development of new and innovative Boring Tools
Scope Of The Report
Report Attributes
Report Details
Report Title
Boring Tools Market Research Report
By Type
Drill Bits, Drilling Tubulars, Drilling Motors, Drill Reamers and Stabilizers, Drill Collars, Drill Jars, Drill Swivels, Mechanical Thrusters
By Application
Onshore, Offshore
By Companies
BIG KAISER, Kennametal, NACHI-FUJIKOSHI, OSG, Sandvik, BIG KAISER
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
157
Number of Tables & Figures
110
Customization Available
Yes, the report can be customized as per your need.
Global Boring Tools Market Report Segments:
The global Boring Tools market is segmented on the basis of:
Types
Drill Bits, Drilling Tubulars, Drilling Motors, Drill Reamers and Stabilizers, Drill Collars, Drill Jars, Drill Swivels, Mechanical Thrusters
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:
- BIG KAISER
- Kennametal
- NACHI-FUJIKOSHI
- OSG
- Sandvik
- BIG KAISER
Highlights of The Boring Tools 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:
- Drill Bits
- Drilling Tubulars
- Drilling Motors
- Drill Reamers and Stabilizers
- Drill Collars
- Drill Jars
- Drill Swivels
- Mechanical Thrusters
- 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 Boring Tools 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
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Boring Tools is a software development company that specializes in creating tools for developers.
Some of the major players in the boring tools market are BIG KAISER, Kennametal, NACHI-FUJIKOSHI, OSG, Sandvik, BIG KAISER.
The boring tools market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Boring Tools Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Boring Tools Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Boring Tools Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Boring Tools Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Boring Tools Market Size & Forecast, 2018-2028
4.5.1 Boring Tools Market Size and Y-o-Y Growth
4.5.2 Boring Tools Market Absolute $ Opportunity
Chapter 5 Global Boring Tools Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Boring Tools Market Size Forecast by Type
5.2.1 Drill Bits
5.2.2 Drilling Tubulars
5.2.3 Drilling Motors
5.2.4 Drill Reamers and Stabilizers
5.2.5 Drill Collars
5.2.6 Drill Jars
5.2.7 Drill Swivels
5.2.8 Mechanical Thrusters
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Boring Tools Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Boring Tools Market Size Forecast by Applications
6.2.1 Onshore
6.2.2 Offshore
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Boring Tools Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Boring Tools Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Boring Tools Analysis and Forecast
9.1 Introduction
9.2 North America Boring Tools Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Boring Tools Market Size Forecast by Type
9.6.1 Drill Bits
9.6.2 Drilling Tubulars
9.6.3 Drilling Motors
9.6.4 Drill Reamers and Stabilizers
9.6.5 Drill Collars
9.6.6 Drill Jars
9.6.7 Drill Swivels
9.6.8 Mechanical Thrusters
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Boring Tools Market Size Forecast by Applications
9.10.1 Onshore
9.10.2 Offshore
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Boring Tools Analysis and Forecast
10.1 Introduction
10.2 Europe Boring Tools Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Boring Tools Market Size Forecast by Type
10.6.1 Drill Bits
10.6.2 Drilling Tubulars
10.6.3 Drilling Motors
10.6.4 Drill Reamers and Stabilizers
10.6.5 Drill Collars
10.6.6 Drill Jars
10.6.7 Drill Swivels
10.6.8 Mechanical Thrusters
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Boring Tools Market Size Forecast by Applications
10.10.1 Onshore
10.10.2 Offshore
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Boring Tools Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Boring Tools Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Boring Tools Market Size Forecast by Type
11.6.1 Drill Bits
11.6.2 Drilling Tubulars
11.6.3 Drilling Motors
11.6.4 Drill Reamers and Stabilizers
11.6.5 Drill Collars
11.6.6 Drill Jars
11.6.7 Drill Swivels
11.6.8 Mechanical Thrusters
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Boring Tools Market Size Forecast by Applications
11.10.1 Onshore
11.10.2 Offshore
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Boring Tools Analysis and Forecast
12.1 Introduction
12.2 Latin America Boring Tools Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Boring Tools Market Size Forecast by Type
12.6.1 Drill Bits
12.6.2 Drilling Tubulars
12.6.3 Drilling Motors
12.6.4 Drill Reamers and Stabilizers
12.6.5 Drill Collars
12.6.6 Drill Jars
12.6.7 Drill Swivels
12.6.8 Mechanical Thrusters
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Boring Tools Market Size Forecast by Applications
12.10.1 Onshore
12.10.2 Offshore
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Boring Tools Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Boring Tools Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Boring Tools Market Size Forecast by Type
13.6.1 Drill Bits
13.6.2 Drilling Tubulars
13.6.3 Drilling Motors
13.6.4 Drill Reamers and Stabilizers
13.6.5 Drill Collars
13.6.6 Drill Jars
13.6.7 Drill Swivels
13.6.8 Mechanical Thrusters
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Boring Tools Market Size Forecast by Applications
13.10.1 Onshore
13.10.2 Offshore
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Boring Tools Market: Competitive Dashboard
14.2 Global Boring Tools Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BIG KAISER
14.3.2 Kennametal
14.3.3 NACHI-FUJIKOSHI
14.3.4 OSG
14.3.5 Sandvik
14.3.6 BIG KAISER
