December 29, 2017 - 11:33 AM EST
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Global Oil Field Drill Bits - Expected to Reach $10.3 Billion by 2022 - Research and Markets


The "Oil Field Drill Bits - Global Market Outlook (2016-2022)" report has been added to Research and Markets' offering.

The Global Oil Field Drill Bits market is expected to grow from $5.93 billion in 2016 to reach $10.31 billion by 2022 with a CAGR of 9.6%.

Growing exploration & production activities coupled with increasing demand for energy, technological advancements in oil field drill bits, increasing demand for oil & gas, and huge investments on new offshore reserves are some of the other factors fuelling the market growth during the forecast period. However, slow down in offshore drilling in few regions, high capital investments are the restraints impeding the market growth.

By Drill Bits Type, Roller Cone Cutter Bit segment commands the global market due to its cost efficiency and its performance. The onshore segment is anticipated to be a largest segment during the forecast period. North America is anticipated to hold the largest share in global market due to the technological advancements, increasing exploration & production activities. Asia Pacific is anticipated to be a fastest growing region.

Drill Bits Types Covered:

  • Roller Cone Cutter Bits
  • Tungsten Carbide Inserts
  • Milled-tooth Bits
  • Fixed Cutter Bits
  • Natural Diamond Bits
  • Polycrystalline Diamond Bits

Applications Covered:

  • Off Shore Drilling
  • On Shore Drilling

Companies Mentioned

  • Bellwether Resources International
  • Atlas Copco AB
  • Bit Brokers International
  • Drill King International
  • DRILLBITS International (DBI)
  • Halliburton
  • Harvest Tool Company
  • Kay Rock Bit Company
  • National Oilwell Varco
  • Nile Petroleum Industrial Company (NPICO)
  • OTS International
  • Palmer Bit Co.
  • Rockpecker
  • Schlumberger Limited
  • Tercel Oilfield Products Limited
  • Varel International, Inc.

Key Topics Covered:

1. Executive Summary

2. Preface

3. Market Trend Analysis

4. Porters Five Force Analysis

5. Global Oil Field Drill Bits Market, By Drill Bits Type

6. Global Oil Field Drill Bits Market, By Application

7. Global Oil Field Drill Bits Market, By Geography

8. Key Developments

9. Company Profiling

For more information about this report visit

Research and Markets
Laura Wood, Senior Manager
[email protected]
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Related Topics: Oilfield Equipment and Services

Source: Business Wire (December 29, 2017 - 11:33 AM EST)

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