Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Polycrystalline Diamond Compact(PDC) Bit Market by Type (Single Drill Bit, Double Drill Bit, Three Drill Bit), By Application (Oil Industry, Natural Gas Industry, Other) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Polycrystalline Diamond Compact(PDC) Bit Market by Type (Single Drill Bit, Double Drill Bit, Three Drill Bit), By Application (Oil Industry, Natural Gas Industry, Other) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 263913 4200 Machinery & Equipment 377 177 Pages 4.5 (32)
                                          

Market Overview:


The global polycrystalline diamond compact (PDC) bit market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the PDC bit market can be attributed to the increasing demand for oil and gas across the globe. Additionally, the increasing drilling activities in offshore and onshore applications are also contributing to the growth of this market. Based on type, the global PDC bit market is segmented into single drill bit, double drill bit, and three drill bit. The single drillbit segment is expected to hold a major share of this market duringthe forecast period owingto its low cost and high efficiency as comparedto other typesof bits.


Global Polycrystalline Diamond Compact(PDC) Bit Industry Outlook


Product Definition:


A polycrystalline diamond compact (PDC) bit is a drill bit that uses small pieces of synthetic diamond to bore through rock. PDC bits are used in the oil and gas industry, as well as in mining and construction. They are more expensive than other types of drill bits, but can withstand much higher temperatures and pressures.


Single Drill Bit:


Single drill bit is a tool that is used for drilling or creating small pilot holes in various materials such as polycrystalline diamond, silicon carbide, and glass. The single drill bit has an advantage over the conventional double fluted bits in that it can be used to create smaller pilot holes with higher accuracy.


The growing demand for miniaturization of devices.


Double Drill Bit:


Double drill bit is used in the PDC process to create larger and cleaner diamonds. The double drill bits are made of special materials such as tungsten carbide or silicon nitride which have high speed and great impact toughness. These double drill bits cut two parallel paths through the material at different angles, thus creating a large number of smaller diamonds with higher clarity than single ones.


Application Insights:


The oil industry accounted for the largest revenue share of over 30% in 2017. The rising demand for PDC bits from various industries including chemical, construction, and energy are expected to drive the market growth over the forecast period. The growing need to conserve natural resources along with increasing focus on green technologies is projected to propel polycrystalline diamond compact (PDC) bit usage in drilling operations across various sectors such as oil & gas and power generation.


The use of PDC bits has increased significantly in recent years owing to their ability to provide high-performance drilling at low cost while reducing operational risks associated with rock penetration and stability issues during drilling operations. Thesebits also reduce wear & tear on rotary blades due its smooth inner wall surface which helps extend bit life by cutting through rocks without getting stuck thereby saving costs incurred towards replacement of drill pipes or collars during extraction process, which further boosts their adoptionin theoil industrybit market.


Regional Analysis:


Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, Indonesia and Malaysia. These countries are actively investing in developing their oil & gas sector as well as other infrastructure sectors owing to which demand for PDC bit products is expected to increase significantly over the forecast period.


The Asia Pacific was followed by North America which accounted for a share of more than 20% of total revenue in 2017 on account of rising oil & gas activities across U.S., Canada and Mexico. Europe also held a significant market share due to increasing investments across Russia, Norway and UK for drilling exploration wells using advanced technologies such as polycrystalline diamond compact bits (PDC). Moreover, growing offshore activities are anticipated fuel regional product demand during the forecast period.


Growth Factors:


  • Increasing demand for PDC bits in the oil and gas industry as a result of the rise in drilling activities.
  • Growing popularity of PDC bits among drillers due to their superior performance as compared to other bit types.
  • Technological advancements that have led to the development of more durable and efficient PDC bits.
  • Rising prices of crude oil, which is resulting in increased investments in drilling activities by oil and gas companies worldwide.

Scope Of The Report

Report Attributes

Report Details

Report Title

Polycrystalline Diamond Compact(PDC) Bit Market Research Report

By Type

Single Drill Bit, Double Drill Bit, Three Drill Bit

By Application

Oil Industry, Natural Gas Industry, Other

By Companies

Atlas Copco, GENERAL ELECTRIC, Halliburton, National Oilwell Varco, Schlumberger, Atlas Copco

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

177

Number of Tables & Figures

124

Customization Available

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


Global Polycrystalline Diamond Compact(PDC) Bit Market Report Segments:

The global Polycrystalline Diamond Compact(PDC) Bit market is segmented on the basis of:

Types

Single Drill Bit, Double Drill Bit, Three Drill Bit

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 Industry, Natural Gas Industry, Other

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. Atlas Copco
  2. GENERAL ELECTRIC
  3. Halliburton
  4. National Oilwell Varco
  5. Schlumberger
  6. Atlas Copco

Global Polycrystalline Diamond Compact(PDC) Bit Market Overview


Highlights of The Polycrystalline Diamond Compact(PDC) Bit 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. Single Drill Bit
    2. Double Drill Bit
    3. Three Drill Bit
  1. By Application:

    1. Oil Industry
    2. Natural Gas Industry
    3. Other
  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 Polycrystalline Diamond Compact(PDC) Bit 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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Global Polycrystalline Diamond Compact(PDC) Bit 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?


Polycrystalline Diamond Compact(PDC) Bit is a new type of mining equipment that uses diamond as the main component. It has many advantages over other mining equipment, such as high efficiency, low noise and long life.

Some of the major companies in the polycrystalline diamond compact(pdc) bit market are Atlas Copco, GENERAL ELECTRIC, Halliburton, National Oilwell Varco, Schlumberger, Atlas Copco.

The polycrystalline diamond compact(pdc) bit 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 Polycrystalline Diamond Compact(PDC) Bit 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 Polycrystalline Diamond Compact(PDC) Bit Market Dynamics       4.2.1 Market Drivers       4.2.2 Market Restraints       4.2.3 Market Opportunity    4.3 Polycrystalline Diamond Compact(PDC) Bit 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 Polycrystalline Diamond Compact(PDC) Bit 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 Polycrystalline Diamond Compact(PDC) Bit Market Size & Forecast, 2018-2028       4.5.1 Polycrystalline Diamond Compact(PDC) Bit Market Size and Y-o-Y Growth       4.5.2 Polycrystalline Diamond Compact(PDC) Bit Market Absolute $ Opportunity

Chapter 5 Global Polycrystalline Diamond Compact(PDC) Bit 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 Polycrystalline Diamond Compact(PDC) Bit Market Size Forecast by Type
      5.2.1 Single Drill Bit
      5.2.2 Double Drill Bit
      5.2.3 Three Drill Bit
   5.3 Market Attractiveness Analysis by Type

Chapter 6 Global Polycrystalline Diamond Compact(PDC) Bit 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 Polycrystalline Diamond Compact(PDC) Bit Market Size Forecast by Applications
      6.2.1 Oil Industry
      6.2.2 Natural Gas Industry
      6.2.3 Other
   6.3 Market Attractiveness Analysis by Applications

Chapter 7 Global Polycrystalline Diamond Compact(PDC) Bit 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 Polycrystalline Diamond Compact(PDC) Bit 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 Polycrystalline Diamond Compact(PDC) Bit Analysis and Forecast
   9.1 Introduction
   9.2 North America Polycrystalline Diamond Compact(PDC) Bit 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 Polycrystalline Diamond Compact(PDC) Bit Market Size Forecast by Type
      9.6.1 Single Drill Bit
      9.6.2 Double Drill Bit
      9.6.3 Three Drill Bit
   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 Polycrystalline Diamond Compact(PDC) Bit Market Size Forecast by Applications
      9.10.1 Oil Industry
      9.10.2 Natural Gas Industry
      9.10.3 Other
   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 Polycrystalline Diamond Compact(PDC) Bit Analysis and Forecast
   10.1 Introduction
   10.2 Europe Polycrystalline Diamond Compact(PDC) Bit 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 Polycrystalline Diamond Compact(PDC) Bit Market Size Forecast by Type
      10.6.1 Single Drill Bit
      10.6.2 Double Drill Bit
      10.6.3 Three Drill Bit
   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 Polycrystalline Diamond Compact(PDC) Bit Market Size Forecast by Applications
      10.10.1 Oil Industry
      10.10.2 Natural Gas Industry
      10.10.3 Other
   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 Polycrystalline Diamond Compact(PDC) Bit Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Polycrystalline Diamond Compact(PDC) Bit 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 Polycrystalline Diamond Compact(PDC) Bit Market Size Forecast by Type
      11.6.1 Single Drill Bit
      11.6.2 Double Drill Bit
      11.6.3 Three Drill Bit
   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 Polycrystalline Diamond Compact(PDC) Bit Market Size Forecast by Applications
      11.10.1 Oil Industry
      11.10.2 Natural Gas Industry
      11.10.3 Other
   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 Polycrystalline Diamond Compact(PDC) Bit Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Polycrystalline Diamond Compact(PDC) Bit 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 Polycrystalline Diamond Compact(PDC) Bit Market Size Forecast by Type
      12.6.1 Single Drill Bit
      12.6.2 Double Drill Bit
      12.6.3 Three Drill Bit
   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 Polycrystalline Diamond Compact(PDC) Bit Market Size Forecast by Applications
      12.10.1 Oil Industry
      12.10.2 Natural Gas Industry
      12.10.3 Other
   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) Polycrystalline Diamond Compact(PDC) Bit Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Polycrystalline Diamond Compact(PDC) Bit 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) Polycrystalline Diamond Compact(PDC) Bit Market Size Forecast by Type
      13.6.1 Single Drill Bit
      13.6.2 Double Drill Bit
      13.6.3 Three Drill Bit
   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) Polycrystalline Diamond Compact(PDC) Bit Market Size Forecast by Applications
      13.10.1 Oil Industry
      13.10.2 Natural Gas Industry
      13.10.3 Other
   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 Polycrystalline Diamond Compact(PDC) Bit Market: Competitive Dashboard
   14.2 Global Polycrystalline Diamond Compact(PDC) Bit Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 Atlas Copco
      14.3.2 GENERAL ELECTRIC
      14.3.3 Halliburton
      14.3.4 National Oilwell Varco
      14.3.5 Schlumberger
      14.3.6 Atlas Copco

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