Drilling is the primary process for exploring and manufacturing crude oil from a tank. In this process, rocks are crushed by using drill bits to extract crude oil to form a cylindrical hole in the earth’s surface. Drill bits consisting of different materials such as diamond, tungsten, and carbide are widely used in the oil & gas industry. Drill bits are segmented according to the type i.e., roller cone drill bits and fixed drill bits of the cutter. The most popular drill bits used for finning conventional wells is the roller cone drill bits. The segment with roller cone drill bits is expected to be the most dominant segment over the forecast period, while the growth of the segment of fixed cutter bits is enhanced by increasing the production of non-conventional shale gas and tight oil.
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The drill bit market report aims to provide an overview of the drill bit market with detailed market segmentation by product type, application, and geography. The global drill bit market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading drill bit market players and offers key trends and opportunities in the market.
The global drill bit market is segmented on the basis of product type, and application. On the basis of product type, the drill bit market is segmented into: Fixed Cutter Bits (Natural Diamond Bits, Polycrystalline Diamond Bits), and Roller Cone Cutter Bits (Tungsten Carbide Inserts, Milled-tooth Bits). Based on application, the drill bit market is segmented into: Onshore Drilling, and Offshore Drilling.
The List of companies covered in this Reports are:
- BLACK+DECKER Inc.
5. IZAR CUTTING TOOLS S.A.L
6. Makita Gulf FZE
8. Robert Bosch Tool Corporation
9. RUKO GmbH Pr?zisionswerkzeuge
10. Schlumberger Limited
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global drill bit market based on various segments. It also provides drill bit market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The drill bit market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the drill bit market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South& Central America after evaluating political, economic, social and technological factors affecting the drill bit market in these regions.
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