DUBLIN, Nov. 13, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/w7dms4/global_drill) has announced the addition of the "Global Drill Collars Market 2015-2019" report to their offering.
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.
This industry research report segments the global drill collars market by raw material (standard steel drill collar and non-magnetic alloy drill collar), by design (spiral and slick), by application (offshore and onshore), and by geography (Americas, APAC, and EMEA).
Market outlook of the global drill collars market
Drill collars are an essential part of the drill string and are heavy, thick-walled steel collars with threaded connections at both ends. Technavio 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.
Segmentation by raw materials and analysis of the drill collars market
- Standard steel drill collar
- Non-magnetic alloy drill collar
In 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.
Design-based segmentation of the drill collars market
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.
This market is highly fragmented due to the presence of numerous multinational and regional vendors. Growth and development of this market are dependent on factors like the efficiency of drill collars, increasing investment by market vendors, and advances in tools technology. Additionally, it has been observed that numerous vendors across the globe are now investing in R&D activities to improve the well drilling efficiency of drill collars.
Other prominent vendors analyzed in this global market research 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.
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SOURCE Research and Markets