Market Overview:
The global fixed cutter downhole drill bits market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for oil and gas across the globe. Additionally, the increasing drilling activities in offshore and onshore fields are also contributing to the growth of this market. The global fixed cutter downhole drill bits market is segmented on the basis of type, application, and region. On the basis of type, it is divided into natural diamond bit, polycrystalline diamond bit (PCD), and other types such as cubic boron nitride (CBN) and titanium nitride (TiN). The PCD segment is expected to grow at a higher CAGR during the forecast period owing to its superior wear resistance as compared with other types of bits. On the basis of application, it is classified into oil field drilling and gas field drilling segments. The oilfield drilling segment dominates this market due to high demand for oilfield services across various regions worldwide. However, with increase in exploration activities for unconventional resources such as shale gas & tight sands deposits globally;the gas field drilling segment is projectedto register highest CAGR duringthe forecastperiod from2018-2030 .Geographically speaking, North America leads thismarket followed by Europeand Asia Pacificregion .
Product Definition:
A fixed cutter downhole drill bit is a type of drill bit that has a number of blades or teeth that are fixed in place and cannot be rotated. These bits are most often used for drilling through hard rock formations. The importance of these bits lies in their ability to quickly and effectively cut through tough material, making them ideal for drilling in areas where traditional rotary drill bits would struggle.
Natural Diamond Bit:
Natural diamond bit is a new technology in the drilling industry. It's main function is to cuttings from rock and send them to the surface for study, where they can be collected for further processing. Natural diamond bits are different from industrial-grade drill bits as they have higher cutting speed and better chip evacuation.
Polycrystalline Diamond Bit:
Polycrystalline Diamond (PCD) is a type of polycrystalline diamond. It is also known as single-crystal or single-cut diamonds. They are produced in an industrial setting with the help of high pressure and high temperature conditions inside a vacuum chamber. The process takes place under controlled environmental conditions, where the feedstock material for manufacturing PCD includes ultrafine crystals of carbon mixed with other impurities like nitrogen, hydrogen, and oxygen among others.
Application Insights:
The oil field application segment accounted for the largest share of over 50.0% in 2017 and is projected to continue its dominance over the forecast period. The growth can be attributed to increasing demand for drilling fluids, which include muds, oils and gas emulsions along with solvents that are used in hydraulic fracturing operations.
Oil & gas production from shale reserves is growing significantly across various regions including North America and Middle East as a result of technological advancements coupled with high crude prices leading to an increase in investment flow into these sectors globally. This factor is anticipated to boost product demand from 2018 to 2030 further driving the overall industry growth during this period.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region over the forecast period owing to increasing demand for DHD bits from various oil and gas exploration activities in China, India, South Korea, and Australia. The growing number of drilling projects in this region will drive the growth further. For instance, In 2017, Sinopec Corporation signed a contract with BHP Billiton for carrying out coal bed methane (CBM) exploration activities in Qilu County of Guizhou Province using fixed cutter downhole drills.
North America accounted for over 20% of global market share owing to early adoption by companies such as Halliburton Company; however it was later surpassed by Asia Pacific due to higher growth rate and increased investments across all major countries including U.S., Canada & Mexico etc.).
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising investment in exploration and production activities
- Technological advancements in drilling equipment and methods
- Growing use of fixed cutter downhole drill bits in unconventional drilling applications
- Expansion of the global drilling services market
Scope Of The Report
Report Attributes
Report Details
Report Title
Fixed Cutter Downhole Drill Bits Market Research Report
By Type
Natural Diamond Bit, Polycrystalline Diamond Bit, Other
By Application
Oil Field, Gas Field
By Companies
GE(Baker Hughes), Schlumberger, Halliburton, National Oilwell Varco, Varel International, Kingdream, Baoshi Machinery, Jiangxi Feilong, GE(Baker Hughes)
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
161
Number of Tables & Figures
113
Customization Available
Yes, the report can be customized as per your need.
Global Fixed Cutter Downhole Drill Bits Market Report Segments:
The global Fixed Cutter Downhole Drill Bits market is segmented on the basis of:
Types
Natural Diamond Bit, Polycrystalline Diamond Bit, 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
Oil Field, Gas Field
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:
- GE(Baker Hughes)
- Schlumberger
- Halliburton
- National Oilwell Varco
- Varel International
- Kingdream
- Baoshi Machinery
- Jiangxi Feilong
- GE(Baker Hughes)
Highlights of The Fixed Cutter Downhole 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:
- Natural Diamond Bit
- Polycrystalline Diamond Bit
- Other
- By Application:
- Oil Field
- Gas Field
- 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 Fixed Cutter Downhole 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.
How you may use our products:
- Correctly Positioning New Products
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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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?
Fixed cutter bits are specially designed for use in downhole drilling. They have a sharp, pointed end that is specifically designed to cut through the surrounding rock. This makes them ideal for use in tight spaces or areas where other tools would be difficult or impossible to use.
Some of the major companies in the fixed cutter downhole drill bits market are GE(Baker Hughes), Schlumberger, Halliburton, National Oilwell Varco, Varel International, Kingdream, Baoshi Machinery, Jiangxi Feilong, GE(Baker Hughes).
The fixed cutter downhole drill bits 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 Fixed Cutter Downhole Drill Bits 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 Fixed Cutter Downhole Drill Bits Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Fixed Cutter Downhole Drill Bits 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 Fixed Cutter Downhole Drill Bits 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 Fixed Cutter Downhole Drill Bits Market Size & Forecast, 2020-2028
4.5.1 Fixed Cutter Downhole Drill Bits Market Size and Y-o-Y Growth
4.5.2 Fixed Cutter Downhole Drill Bits Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Natural Diamond Bit
5.2.2 Polycrystalline Diamond Bit
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Oil Field
6.2.2 Gas Field
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Fixed Cutter Downhole Drill Bits 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 Fixed Cutter Downhole Drill Bits 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Natural Diamond Bit
9.6.2 Polycrystalline Diamond Bit
9.6.3 Other
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 Market Size Forecast by Applications
9.10.1 Oil Field
9.10.2 Gas Field
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Natural Diamond Bit
10.6.2 Polycrystalline Diamond Bit
10.6.3 Other
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 Market Size Forecast by Applications
10.10.1 Oil Field
10.10.2 Gas Field
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Natural Diamond Bit
11.6.2 Polycrystalline Diamond Bit
11.6.3 Other
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 Market Size Forecast by Applications
11.10.1 Oil Field
11.10.2 Gas Field
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Natural Diamond Bit
12.6.2 Polycrystalline Diamond Bit
12.6.3 Other
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 Market Size Forecast by Applications
12.10.1 Oil Field
12.10.2 Gas Field
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Natural Diamond Bit
13.6.2 Polycrystalline Diamond Bit
13.6.3 Other
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) Market Size Forecast by Applications
13.10.1 Oil Field
13.10.2 Gas Field
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 Fixed Cutter Downhole Drill Bits Market: Competitive Dashboard
14.2 Global Fixed Cutter Downhole Drill Bits Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE(Baker Hughes)
14.3.2 Schlumberger
14.3.3 Halliburton
14.3.4 National Oilwell Varco
14.3.5 Varel International
14.3.6 Kingdream
14.3.7 Baoshi Machinery
14.3.8 Jiangxi Feilong
14.3.9 GE(Baker Hughes)
