Market Overview:
The global oil and gas drilling tools market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The market growth is attributed to the increasing demand for oil and gas across the globe. In addition, the increasing exploration and production activities in shale formations are also contributing to the growth of this market. The shale shakers segment is expected to dominate the global oil and gas drilling tools market during the forecast period. This segment is anticipated to grow at a CAGR of 6% from 2018 to 2030 owing to its ability remove solids such as sand, dirt, and debris from drilling fluid systems.
Product Definition:
Oil and gas drilling tools are used to drill holes in the earth to extract oil and gas. The most common type of oil and gas drilling tool is a drill bit, which is attached to a drill string. The drill string is lowered into the hole, and the bit drills through the earth's surface. Other types of oil and gas drilling tools include mud motors, which power the drill bit, as well as subsurface safety valves, which protect against blowouts.
Shale Shakers:
Shale shakers are used to create seismic waves in order to stimulate or detect hydrocarbon reserves. These devices comprise of a series of plates connected by elastic, which is driven by an electric motor. The movement of the device creates vibrations that travel through the ground and into the rock formation, creating small earthquakes. Seismic data can be collected from these earthquakes using sensors attached to chains or ropes that hang down into the wellbore from above the drilling platform.
Degassers:
Degassers are used to collect cuttings from the drilling tool and remove solid waste generated during the process. The collected cuttings are passed through a heat exchanger where the remaining moisture is removed. From there, it is sent to an incinerator or a chemical processing plant for disposal.
The major applications of degassers include well cleaning, cementing, perforating and other operations in oil & gas extraction activities such as hydraulic fracturing.
Application Insights:
The land segment dominated the global oil and gas drilling tools market in 2017, accounting for over 60.0% share of the total revenue. The growth can be attributed to increasing demand for conventional onshore fields as well as offshore locations. Conventional onshore drilling is carried out using rotary rigs while offshore drilling is done by fixed platforms or mobile offshore Drilling (MOD) rigs.
Offshore accounts for a larger proportion of the overall revenue due to rising investments in deepwater exploration activities across various regions including Latin America, Africa and Asia Pacific. Increasing investment by companies including StatoilHydro ASA; RepsolSergio Romero; Royal Dutch Shell plc; TechnipFMCBENELUX PLC.; CNOOC Limited.; EOG Resources Inc.
Regional Analysis:
North America dominated the global market in 2017 owing to the presence of major oil and gas producing countries, such as the U.S., Canada, and Mexico. The region is expected to maintain its dominance over the forecast period due to technological advancements in drilling techniques coupled with increasing demand for energy resources from a growing population.
The Asia Pacific regional market is anticipated to witness significant growth over the forecast period owing to rising demand for oil & gas from developing economies such as China and India.
In 2016, Iran accounted for approximately 25% of total E&P activity across Opec’s largest producer country despite heavy sanctions against this nation by western nations including U.S.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization in developing countries.
- Rising prices of crude oil which is encouraging the exploration and production of new reserves.
- Technological advancements in drilling tools that are making them more efficient and productive.
- Growing investment by oil and gas companies in drilling activities to meet the rising demand for energy globally.
- Emergence of shale gas as a potential source of energy which is driving the adoption of new drilling technologies
Scope Of The Report
Report Attributes
Report Details
Report Title
Oil and Gas Drilling Tools Market Research Report
By Type
Shale Shakers, Degassers, Mud Cleaners, Sand Pumps, Stabbing Guides, Other
By Application
Land, Offshore
By Companies
National Oilwell Varco, Epiroc AB, Drilling Tools International, Baker Hughes, Keystone Energy Tools, Halliburton, Varel International, Schlumberger, Weatherford, CNPC
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
178
Number of Tables & Figures
125
Customization Available
Yes, the report can be customized as per your need.
Global Oil and Gas Drilling Tools Market Report Segments:
The global Oil and Gas Drilling Tools market is segmented on the basis of:
Types
Shale Shakers, Degassers, Mud Cleaners, Sand Pumps, Stabbing Guides, 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
Land, 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:
- National Oilwell Varco
- Epiroc AB
- Drilling Tools International
- Baker Hughes
- Keystone Energy Tools
- Halliburton
- Varel International
- Schlumberger
- Weatherford
- CNPC
Highlights of The Oil and Gas Drilling 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:
- Shale Shakers
- Degassers
- Mud Cleaners
- Sand Pumps
- Stabbing Guides
- Other
- By Application:
- Land
- 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 Oil and Gas Drilling 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
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- 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?
Oil and gas drilling tools are used to extract oil and gas from the ground. They include things like drills, pumps, compressors, valves, and other equipment.
Some of the major companies in the oil and gas drilling tools market are National Oilwell Varco, Epiroc AB, Drilling Tools International, Baker Hughes, Keystone Energy Tools, Halliburton, Varel International, Schlumberger, Weatherford, CNPC.
The oil and gas drilling tools market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Oil and Gas Drilling 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 Oil and Gas Drilling Tools Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Oil and Gas Drilling 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 Oil and Gas Drilling 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 Oil and Gas Drilling Tools Market Size & Forecast, 2020-2028
4.5.1 Oil and Gas Drilling Tools Market Size and Y-o-Y Growth
4.5.2 Oil and Gas Drilling Tools 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 Shale Shakers
5.2.2 Degassers
5.2.3 Mud Cleaners
5.2.4 Sand Pumps
5.2.5 Stabbing Guides
5.2.6 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 Land
6.2.2 Offshore
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Oil and Gas Drilling 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 Oil and Gas Drilling 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 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 Shale Shakers
9.6.2 Degassers
9.6.3 Mud Cleaners
9.6.4 Sand Pumps
9.6.5 Stabbing Guides
9.6.6 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 Land
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 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 Shale Shakers
10.6.2 Degassers
10.6.3 Mud Cleaners
10.6.4 Sand Pumps
10.6.5 Stabbing Guides
10.6.6 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 Land
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 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 Shale Shakers
11.6.2 Degassers
11.6.3 Mud Cleaners
11.6.4 Sand Pumps
11.6.5 Stabbing Guides
11.6.6 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 Land
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 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 Shale Shakers
12.6.2 Degassers
12.6.3 Mud Cleaners
12.6.4 Sand Pumps
12.6.5 Stabbing Guides
12.6.6 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 Land
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) 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 Shale Shakers
13.6.2 Degassers
13.6.3 Mud Cleaners
13.6.4 Sand Pumps
13.6.5 Stabbing Guides
13.6.6 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 Land
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 Oil and Gas Drilling Tools Market: Competitive Dashboard
14.2 Global Oil and Gas Drilling Tools Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 National Oilwell Varco
14.3.2 Epiroc AB
14.3.3 Drilling Tools International
14.3.4 Baker Hughes
14.3.5 Keystone Energy Tools
14.3.6 Halliburton
14.3.7 Varel International
14.3.8 Schlumberger
14.3.9 Weatherford
14.3.10 CNPC
