Drilling Bits Market in Oil and Gas 2020-2024 | Migration of Drilling Into Unconventional Areas to Boost Growth | Technavio

Technavio has announced its latest market research report titled Global Drilling Bits Market in Oil and Gas 2020-2024 (Graphic: Business Wire)

LONDON--()--Technavio has been monitoring the drilling bits market in oil and gas and it is poised to grow by $ 1382.30 million during 2020-2024, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Atlas Copco AB, Baker Hughes Co., Bellwether Resources International Inc., Bit Brokers International Ltd., Caterpillar Inc., Drill King International LP, Drilling Products Inc., Halliburton Co., National Oilwell Varco Inc., and Sandvik AB are some of the major market participants. Although migration of drilling into unconventional areas will offer immense growth opportunities, decreasing profitability of upstream petroleum companies will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Migration of drilling into unconventional areas has been instrumental in driving the growth of the market. However, decreasing profitability of upstream petroleum companies might hamper market growth.

Drilling bits market in oil and gas 2020-2024 : Segmentation

Drilling bits market in oil and gas is segmented as below:

  • Product
    • Fixed Cutter Bits
    • Roller Cone Cutter Bits
  • Application
    • Onshore
    • Offshore
  • Geography
    • North America
    • MEA
    • APAC
    • Europe
    • South America

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Drilling bits market in oil and gas 2020-2024 : Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our drilling bits market in oil and gas report covers the following areas:

  • Drilling bits market in oil and gas size
  • Drilling bits market in oil and gas trends
  • Drilling bits market in oil and gas industry analysis

This study identifies the use of biomass as a fuel in boiler as one of the prime reasons driving the growth of drilling bits market in oil and gas growth during the next few years.

Drilling bits market in oil and gas 2020-2024 : Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the Drilling bits market in oil and gas, including some of the vendors such as Atlas Copco AB, Baker Hughes Co., Bellwether Resources International Inc., Bit Brokers International Ltd., Caterpillar Inc., Drill King International LP, Drilling Products Inc., Halliburton Co., National Oilwell Varco Inc., and Sandvik AB. Backed with competitive intelligence and benchmarking, our research reports on the Drilling bits market in oil and gas are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Drilling bits market in oil and gas 2020-2024 : Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist the growth of drilling bits market in oil and gas during the next five years
  • Estimation of the size of drilling bits market in oil and gas and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the drilling bits market in oil and gas
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of vendors in drilling bits market in oil and gas

Table Of Contents :

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five Forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Fixed cutter bits - Market size and forecast 2019-2024
  • Roller cone cutter bits - Market size and forecast 2019-2024
  • Market opportunity by Product

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Onshore - Market size and forecast 2019-2024
  • Offshore - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Volume driver - Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Atlas Copco AB
  • Baker Hughes Co.
  • Bellwether Resources International Inc.
  • Bit Brokers International Ltd.
  • Caterpillar Inc.
  • Drill King International LP
  • Drilling Products Inc.
  • Halliburton Co.
  • National Oilwell Varco Inc.
  • Sandvik AB

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The Global Drilling Bits Market in Oil and Gas will grow by $ 1382.30 mn during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/