The global oil and gas drilling bits market is expected to grow at a CAGR of 3.5% during the forecast period, to reach USD 2.2 billion by 2030. The growth of this market is driven by the increasing demand for oil and gas exploration activities in emerging economies such as China, India, and Brazil. The increasing number of offshore drilling rigs in these countries has led to an increase in demand for drilling bits that are suitable for offshore operations.
Fixed cutter drill bits are expected to account for the largest share of the global oil and gas drilling bits market during the forecast period due to their high penetration rate among onshore operators. Roller cone drill bits are expected to account for a significant share of this market due to their high penetration rate among offshore operators.
Some Of The Growth Factors Of This Market:
- The demand for oil and gas drilling bits is expected to increase in the near future due to the increasing number of offshore drilling activities.
- The demand for oil and gas drilling bits is also expected to increase due to the increasing number of shale gas exploration activities in North America, which will lead to an increased need for more efficient drill bits.
- Increasing global energy consumption has led many countries around the world, including China, India, Russia and Brazil, among others, into a race against time as they try hard not only find new sources of energy but also explore new ways of extracting it from existing sources such as coal or natural gas.
Industry Growth Insights published a new data on “Oil and Gas Drilling Bits Market”. The research report is titled “Oil and Gas Drilling Bits Market research by Types (Fixed Cutter, Roller Cone, Other), By Applications (Onshore, Offshore), By Players/Companies Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, Varel International, Atlas Copco, Bellwether Resources International, Bit Brokers International, Century Products, DRILLBITS International, Drilformance, Drill King International, Drilling Products, Harvest Tool, Hole Products, Kay Rock Bit, Master Oil Tool, Nile Petroleum Industrial, OTS International, PDB Tools”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Oil and Gas Drilling Bits Market Research Report
By Type
Fixed Cutter, Roller Cone, Other
By Application
Onshore, Offshore
By Companies
Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, Varel International, Atlas Copco, Bellwether Resources International, Bit Brokers International, Century Products, DRILLBITS International, Drilformance, Drill King International, Drilling Products, Harvest Tool, Hole Products, Kay Rock Bit, Master Oil Tool, Nile Petroleum Industrial, OTS International, PDB Tools
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
231
Number of Tables & Figures
162
Customization Available
Yes, the report can be customized as per your need.
Global Oil and Gas Drilling Bits Market Report Segments:
The global Oil and Gas Drilling Bits market is segmented on the basis of:
Types
Fixed Cutter, Roller Cone, 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
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:
- Baker Hughes
- Halliburton
- National Oilwell Varco
- Schlumberger
- Varel International
- Atlas Copco
- Bellwether Resources International
- Bit Brokers International
- Century Products
- DRILLBITS International
- Drilformance
- Drill King International
- Drilling Products
- Harvest Tool
- Hole Products
- Kay Rock Bit
- Master Oil Tool
- Nile Petroleum Industrial
- OTS International
- PDB Tools
Highlights of The Oil and Gas Drilling 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:
- Fixed Cutter
- Roller Cone
- Other
- 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 Oil and Gas Drilling 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.
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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?
Oil and gas drilling bits are the tools used to drill into the earth. They come in a variety of shapes and sizes, depending on what type of drilling is being done.
Some of the key players operating in the oil and gas drilling bits market are Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, Varel International, Atlas Copco, Bellwether Resources International, Bit Brokers International, Century Products, DRILLBITS International, Drilformance, Drill King International, Drilling Products, Harvest Tool, Hole Products, Kay Rock Bit, Master Oil Tool, Nile Petroleum Industrial, OTS International, PDB Tools.
The oil and gas drilling bits market is expected to grow at a compound annual growth rate of 3.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Oil and Gas Drilling Bits Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Oil and Gas Drilling Bits Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Oil and Gas Drilling Bits Market - Supply Chain
4.5. Global Oil and Gas Drilling Bits Market Forecast
4.5.1. Oil and Gas Drilling Bits Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Oil and Gas Drilling Bits Market Size (000 Units) and Y-o-Y Growth
4.5.3. Oil and Gas Drilling Bits Market Absolute $ Opportunity
5. Global Oil and Gas Drilling Bits Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Oil and Gas Drilling Bits Market Size and Volume Forecast by Type
5.3.1. Fixed Cutter
5.3.2. Roller Cone
5.3.3. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Oil and Gas Drilling Bits Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Oil and Gas Drilling Bits Market Size and Volume Forecast by Application
6.3.1. Onshore
6.3.2. Offshore
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Oil and Gas Drilling Bits Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Oil and Gas Drilling Bits Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Oil and Gas Drilling Bits Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Oil and Gas Drilling Bits Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Oil and Gas Drilling Bits Demand Share Forecast, 2019-2026
9. North America Oil and Gas Drilling Bits Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Oil and Gas Drilling Bits Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Oil and Gas Drilling Bits Market Size and Volume Forecast by Application
9.4.1. Onshore
9.4.2. Offshore
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Oil and Gas Drilling Bits Market Size and Volume Forecast by Type
9.7.1. Fixed Cutter
9.7.2. Roller Cone
9.7.3. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Oil and Gas Drilling Bits Demand Share Forecast, 2019-2026
10. Latin America Oil and Gas Drilling Bits Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Oil and Gas Drilling Bits Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Oil and Gas Drilling Bits Market Size and Volume Forecast by Application
10.4.1. Onshore
10.4.2. Offshore
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Oil and Gas Drilling Bits Market Size and Volume Forecast by Type
10.7.1. Fixed Cutter
10.7.2. Roller Cone
10.7.3. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Oil and Gas Drilling Bits Demand Share Forecast, 2019-2026
11. Europe Oil and Gas Drilling Bits Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Oil and Gas Drilling Bits Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Oil and Gas Drilling Bits Market Size and Volume Forecast by Application
11.4.1. Onshore
11.4.2. Offshore
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Oil and Gas Drilling Bits Market Size and Volume Forecast by Type
11.7.1. Fixed Cutter
11.7.2. Roller Cone
11.7.3. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Anlysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Oil and Gas Drilling Bits Demand Share, 2019-2026
12. Asia Pacific Oil and Gas Drilling Bits Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Oil and Gas Drilling Bits Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Oil and Gas Drilling Bits Market Size and Volume Forecast by Application
12.4.1. Onshore
12.4.2. Offshore
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Oil and Gas Drilling Bits Market Size and Volume Forecast by Type
12.7.1. Fixed Cutter
12.7.2. Roller Cone
12.7.3. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Oil and Gas Drilling Bits Demand Share, 2019-2026
13. Middle East & Africa Oil and Gas Drilling Bits Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Oil and Gas Drilling Bits Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Oil and Gas Drilling Bits Market Size and Volume Forecast by Application
13.4.1. Onshore
13.4.2. Offshore
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Oil and Gas Drilling Bits Market Size and Volume Forecast by Type
13.7.1. Fixed Cutter
13.7.2. Roller Cone
13.7.3. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Oil and Gas Drilling Bits Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Oil and Gas Drilling Bits Market: Market Share Analysis
14.2. Oil and Gas Drilling Bits Distributors and Customers
14.3. Oil and Gas Drilling Bits Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Baker Hughes
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Halliburton
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. National Oilwell Varco
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Schlumberger
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Varel International
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Atlas Copco
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Bellwether Resources International
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Bit Brokers International
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Century Products
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. DRILLBITS International
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Drilformance
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Drill King International
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Drilling Products
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Harvest Tool
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Hole Products
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Kay Rock Bit
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Master Oil Tool
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Nile Petroleum Industrial
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. OTS International
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. PDB Tools
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
