PUNE, India, November 9, 2015 /PRNewswire/ --
The global drill collars market research analysts estimate eminent factors, such as the increasing drilling activities across the world and rapidly increasing oil and gas demand, to positively influence market growth and result in its modest CAGR of nearly 6% by 2019. Geographically, the Americas are expected to lead the global market for drill collars during the forecast period. Rising demand for energy, growing need to maximize production from existing wells, and the redevelopment of maturing oil fields wells are some of the significant factors that accounts for this region's high market share of almost 63% by 2019.
Complete report on drill collars market spread across 104 pages, profiling 7 major companies and supported with 45 data exhibits is now available at is now available at http://www.reportsnreports.com/reports/432131-global-drill-collars-market-2015-2019.html.
Advances in drilling technology and equipment will significantly increase the efficiency, control, and monitoring of the oil and gas wells. Market vendors are increasing their R&D investments, which is likely to improve the reliability and efficiency of drill collars and other downhole drilling tools. In addition, these advances improve drilling activities and facilitate drilling of unconventional reserves and redevelopment of mature fields.
According to the Global Drill Collars Market 2015-2019 report, increased demand for oil and gas is one of the major drivers in the global oil and gas drill collar market. Expansion of oil and gas exploration and drilling activities is expected to stimulate growth of the market in the near future. The growing demand for oil and gas will drive large investments in state-of-the-art technology to increase the efficiency of drill collars, ensuring oil production.
This report analysis the market by raw materials: standard steel drill collar and non-magnetic alloy drill collar and by design: spiral and slick. This market research report, analysts estimate the standard steel drill collars segment to account for more than 66% of the total market share by 2019. Increasing offshore drilling activities and the high tensile and material strength of standard steel drill collars are expected to result in its high market share during the forecast period. The slick drill collar segment is envisaged to be the largest market segment during the forecast period. This segment singlehandedly accounts for more than 62% of the total market share by 2019 and the widespread availability of oilfields that require relatively easy drilling operations is estimated to be the primary reason for the growth of this segment. Order a copy of Global Drill Collars Market 2015 - 2019 report @ http://www.reportsnreports.com/purchase.aspx?name=432131.
The slick drill collar segment is envisaged to be the largest market segment during the forecast period. This segment singlehandedly accounts for more than 62% of the total market share by 2019 and the widespread availability of oilfields that require relatively easy drilling operations is estimated to be the primary reason for the growth of this segment. The key players in the global drill collars market are Halliburton, Hunting, National Oil well Varco, Schlumberger, Vallourec, Workstrings International and Weatherford International. Other Prominent Vendors in the market are: American Oilfield Tools, ACE, Aliron Tool Research, Challenger International, Command Energy Services, Downhole Oil Tools, Global Drilling Solutions, Superior Drillcollar, and Tasman Oil Tools.
Further, the report states that a persistent decline in prices during the forecast period is expected to reduce investments in drilling and completion activities and negatively impact the global drill collar market.
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