Oilfield drill bits are important tools used in the drilling of boreholes in the exploration of oil and gas activities. The drill bits are selected depending on the type of formation that is being drilled. Drill bits produce drill cuttings which can be removed later using drilling mud. Irrespective of type of drill bit, these bits need to suffice two main conditions that include maximizing the formations rate of penetration (ROP) while providing a long and sturdy service life.
Market Dynamics
Growing demand for oil and is, in turn, fuelling growth of global oilfield drill bits market. The rising demand for crude oil to be used as fuel, coupled with the recovering oil and gas industry globally is expected to propel demand for oilfield drill bits globally.
North America dominated the oilfield drill bits market in 2016. This is majorly due to the shale boom in the US. Some of the major players in the shale industry are the Permian, Eagle Ford, Marcellus, and Barnett. This has resulted in an increase in E&P activities in this region, which in turn is expected to result in an increase in the demand for oilfield drill bits in the North American region.
The Middle East is witnessing an increase in E&P activities after the recent oil slump of 2014. Apart from the Middle East other regions such as Europe, Asia Pacific and Africa are also expected to see an increase in oil and gas projects being undertaken during the forecast period. The rising demand for fuel especially amongst the emerging nations of Africa and Middle East has augmented the demand for oil and gas in these regions. For instance, in September 2017, PetroSA and Russia based Rosgeo signed a US$ 400 million agreement to develop oil and gas reserves off the coast of South Africa. In June 2016, in Angola, state-owned Sonangol announced a gas discovery in the Kwanza Basin which is estimated to hold 813 million barrel of oil equivalent. BP Plc holds a block in the discovered field in a joint venture with Sonangol. This, in turn, is expected to boost the demand for oilfield drill bits globally.
Key features of the study:
This report provides in-depth analysis of the oilfield drill bits market, market size (US$ Bn), and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017 – 2025).
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market. It provides valuable insights about market drivers, restraints, opportunities, new product launches or approval, pipeline products, regional outlook, and competitive strategy adopted by the leading players.
It profiles leading players in the global oilfield drill bits market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, and future plans.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions with respect to their future product launch, market expansion, and marketing tactics.
The global oilfield drill bits market report caters to various stakeholders in this industry, including investors, product developers, distributors, oil and gas companies and service provider companies.
Stakeholders would greatly benefit in decision-making through the various strategy matrices used in analyzing the oilfield drill bits market.
Detailed Segmentation:
Global Oilfield Drill Bits Market, By Drill Bit Type
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
Global Oilfield Drill Bits Market, By Application:
Onshore
Offshore
Global Oilfield Drill Bits Market, By Geography:
North America
U.S.
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Canada
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Europe
U.K.
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Germany
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Italy
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Denmark
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Norway
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Russia
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Rest of Europe
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Asia-Pacific
China
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
India
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Japan
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
ASEAN
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Australia
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
South Korea
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Rest of Asia Pacific
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Latin America
Brazil
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Mexico
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Argentina
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Rest of Latin America
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Africa
Nigeria
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Angola
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Algeria
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Libya
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Gabon
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Rest of Africa
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Middle East
Saudi Arabia
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Israel
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
UAE
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Rest of Middle East
By Drill Bit Type:
Roller Cone Bits
Tungsten Carbide Insert Bits
Milled Tooth Bits
Fixed Cutter Bits
Polycrystalline Diamond Compact (PDC) Drill Bits
Impregnated Bits
Diamond Bits
By Application
Onshore
Offshore
Company Profiles
Baker Hughes Inc.*
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments
Future Plans
Drill Master Inc.
Schlumberger
Halliburton Inc.
National Oilwell Varco Inc
Ulterra Drilling Technologies
Atlas Copco AB.
Scientific Drilling International Inc.
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
1. Research Objective and Assumptions
o Research Objectives
o Assumptions
o Abbreviations
2. Market Purview
o Report Description
? Market Definition and Scope
o Executive Summary
? Market Snippet By Drill Bit Type
? Market Snippet By Application
? Market Snippet By Region
o Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
o Market Dynamics
? Drivers
? Restraints
? Market Opportunities
? Regulatory Scenario
? Industry Trend
? Merger and Acquisitions
? New Well Type Approvals/Launch
? Promotion and Marketing Initiatives
o Cost Tier Down Analysis
4. Global Oilfield Drill Bits Market, By Drill Bit Type, 2016- 2025 (USD Billion)
o Introduction
? Market Share Analysis, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, 2016 - 2025
? Segment Trends
o Roller Cone Bits
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Billion)
? Tungsten Carbide Insert(TCI) Bits
? Milled Tooth Bits
o Fixed Cutter Bits
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Billion)
? Polycrystalline Diamond Compact(PDC) Drill Bits
? Impregnated Bits
? Diamond Bits
5. Global Oilfield Drill Bits Market, By Application, 2016- 2025 (USD Billion)
o Introduction
? Market Share Analysis, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, 2016 - 2025
? Segment Trends
o Offshore
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Billion)
o Onshore
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Billion)
6. Global Oilfield Drill Bits Market, By Region, 2016 - 2025 (USD Billion)
o Introduction
? Market Share Analysis, By Region, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, For Regions, 2016 - 2025
o North America
? Market Share Analysis, By Country, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, By Country, 2016 - 2025
? U.S.
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Canada
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
o Europe
? Market Share Analysis, By Country, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, By Country, 2016 - 2025
? U.K.
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Germany
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Italy
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Denmark
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Norway
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Russia
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Rest of Europe
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
o Asia Pacific
? Market Share Analysis, By Country, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, By Country, 2016 - 2025
? China
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? India
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Japan
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? ASEAN
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Australia
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? South Korea
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Rest of Asia Pacific
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
o Latin America
? Market Share Analysis, By Country, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, By Country, 2016 - 2025
? Brazil
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Mexico
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Argentina
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Rest of Latin America
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
o Africa
? Market Share Analysis, By Country, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, By Country, 2016 - 2025
? Nigeria
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Angola
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Algeria
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Libya
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Gabon
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Rest of Africa
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
o Middle East
? Market Share Analysis, By Country, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, By Country, 2016 - 2025
? Saudi Arabia
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Israel
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? UAE
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
? Rest of Middle East
? Country Trends
? Market Size and Forecast, By Drill Bit Type, 2016 - 2025 (USD Billion)
? Market Size and Forecast, By Application, 2016 - 2025 (USD Billion)
7. Competitive Landscape
o Heat Map Analysis
o Market Share Analysis (3x3 Matrix)
o Company Profiles
? Baker Hughes Inc
? Company Overview
? Well Type Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? Drill Master Inc
? Company Overview
? Well Type Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? Schlumberger
? Company Overview
? Well Type Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? Halliburton Inc
? Company Overview
? Well Type Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? National Oilwell Varco Inc
? Company Overview
? Well Type Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? Ulterra Drilling Technologies
? Company Overview
? Well Type Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? Atlas Copco AB
? Company Overview
? Well Type Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? Scientific Drilling International Inc.
? Company Overview
? Well Type Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
o Analyst Views
8. Section
o References
o Research Methodology
o About us and Sales Contact
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