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Global Drilling Tools Market Is Registering a Healthy 4.7% CAGR Between 2019 And 2024

Author: Prithvi Sinha
by Prithvi Sinha
Posted: Jan 05, 2020

The Global Oil & Gas Drilling Tools Market is estimated to reach USD 2.23 Billion in 2024 at a CAGR of 4.7%. Increase in shale gas exploration and increasing technological capabilities of drillers is expected to drive the oil & gas drilling tools market during the forecast period. However, high maintenance cost, highly volatile oil prices, and stringent government regulations against offshore drilling activities is expected to restrain the market during the forecast period. Development of deepwater oil and gas fields is expected to become an opportunity for oil & gas drilling tools market.

Drill is an instrument with an edged or pointed end used for making holes in hard substances. Equipment which are used in drilling process are known as drilling tools. Drilling tools are very useful to empower you to carry out an intense job with much ease and comfort. It is frequently used in household applications, factories, workshops as well as industries. Some key players of drilling tools market are Schlumberger, Halliburton, Weatherford, Baker Hughes, and National Oilwell Varco among others.

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Drilling Tool Market: Trends, Segmentation & Drivers

This market research report offers a comprehensive analysis of key market trends in the global oil & gas drilling tools market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks. Based on type, the drillings tools market can be segmented into drill bit, drilling tubulars, drilling collars, drill swivel, drill stabilizers and reamers, drill jars, mud motors, mechanical thrusters, and others. The segmentation by Application includes onshore and offshore. The regional analysis is covered under five major regions such as North America, South America, Europe, Asia-Pacific, and the Middle East and Africa, with individual country-level analysis

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Drilling Tool Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Oil & Gas Drilling Tools Market by Type

  • Drill Bit
  • Drilling Tubulars
  • Drilling Collars
  • Drill Swivel
  • Drill Stabilizers and Reamers
  • Drill Jars
  • Mud Motors
  • Mechanicial Thrusters
  • Others

Oil & Gas Drilling Tools Market, by Application

  • Onshore
  • Offshore

Oil & Gas Drilling Tools Market by Region

  • Asia-Pacific
  • China
  • Indonesia
  • India
  • Malaysia
  • Australia
  • Rest of Asia-Pacific
  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • Norway
  • UK
  • Netherlands
  • Polland
  • Russia
  • Denmark
  • Rest of Europe
  • Middle East
  • Saudi Arabia
  • Iran
  • UAE
  • Rest of Middle East
  • South America
  • Brazil
  • Argentina
  • Venezuela
  • Rest of South America

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About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their "REVENUES".

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Author: Prithvi Sinha

Prithvi Sinha

Member since: Dec 18, 2019
Published articles: 20

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