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Drill bits are mechanical tools used for cutting or crushing rocks to create wellbores for the extraction of hydrocarbon resources. They are mainly used in drilling operations for oil or gas wells either onshore or offshore.
According to our (Global Info Research) latest study, the global Gas and Oil Drill Bits market size was valued at USD 3150.1 million in 2022 and is forecast to a readjusted size of USD 5378.9 million by 2029 with a CAGR of 7.9% during review period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Due to their specific custom design properties and the introduction of new technologies in components and material strength design, the fixed cutter segment accounted for the major shares and dominated the market. According to this market research report, this segment will continue to dominate the market during the next few years as well.
This report is a detailed and comprehensive analysis for global Gas and Oil Drill Bits market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2023, are provided.
Key Features:
Global Gas and Oil Drill Bits market size and forecasts, in consumption value ($ Million), sales quantity (K Units), and average selling prices (USD/Unit), 2018-2029
Global Gas and Oil Drill Bits market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K Units), and average selling prices (USD/Unit), 2018-2029
Global Gas and Oil Drill Bits market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K Units), and average selling prices (USD/Unit), 2018-2029
Global Gas and Oil Drill Bits market shares of main players, shipments in revenue ($ Million), sales quantity (K Units), and ASP (USD/Unit), 2018-2023
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Gas and Oil Drill Bits
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Gas and Oil Drill Bits market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include GE(Baker Hughes), Halliburton, National Oilwell Varco, Schlumberger and Varel International, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, COVID-19 and Russia-Ukraine War Influence.
Market segmentation
Gas and Oil Drill Bits market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
- Fixed Cutter
- Roller Cone
- Other
Market segment by Application
- Onshore
- Offshore
Major players covered
- GE(Baker Hughes)
- Halliburton
- National Oilwell Varco
- Schlumberger
- Varel International
- Atlas Copco AB
- Bellwether Resources International
- Bit Brokers International
- Century Products
- Drillbits International (DBI)
- Drilformance
Market segment by region, regional analysis covers
- North America (United States, Canada and Mexico)
- Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
- South America (Brazil, Argentina, Colombia, and Rest of South America)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Gas and Oil Drill Bits product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Gas and Oil Drill Bits, with price, sales, revenue and global market share of Gas and Oil Drill Bits from 2018 to 2023.
Chapter 3, the Gas and Oil Drill Bits competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Gas and Oil Drill Bits breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2018 to 2029.
Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2018 to 2029.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2022.and Gas and Oil Drill Bits market forecast, by regions, type and application, with sales and revenue, from 2024 to 2029.
Chapter 12, market dynamics, drivers, restraints, trends, Porters Five Forces analysis, and Influence of COVID-19 and Russia-Ukraine War.
Chapter 13, the key raw materials and key suppliers, and industry chain of Gas and Oil Drill Bits.
Chapter 14 and 15, to describe Gas and Oil Drill Bits sales channel, distributors, customers, research findings and conclusion.