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.
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:
- Atlas Copco
- GENERAL ELECTRIC
- Halliburton
- National Oilwell Varco
- Schlumberger
- Atlas Copco
Highlights of The Polycrystalline Diamond Compact(PDC) Bit 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:
- Single Drill Bit
- Double Drill Bit
- Three Drill Bit
- By Application:
- Oil Industry
- Natural Gas Industry
- Other
- 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 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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- 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?
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