Global Drilling Tools Market 2018-2022 - Leading Players are Schlumberger, Baker Hughes, Halliburton, Weatherford and National Oilwell Varco
DUBLIN, March 26, 2018 /PRNewswire/ --
The "Drilling Tools Market by Type (Drill Bits, Drilling Tubulars, Drilling Motors, Drill Reamers and Stabilizers, Drill Collars, Drill Jars, Drill Swivels, Mechanical Thrusters), Application (Onshore and Offshore), and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The global drilling tools market is projected to grow at a CAGR of 4.75%, from 2017 to 2022, to reach a market size of USD 8.61 Billion by 2022, from an estimated market size of USD 6.83 Billion in 2017.
Increasing drilling activities, development of unconventional hydrocarbon resources coupled with high energy demand from Asia Pacific are driving the drilling tools market.
The report segments the drilling tool market, by application, into onshore and offshore. Onshore application segment is expected to account for the larger market share. Onshore drilling is more cost-effective and less complex than offshore. Offshore drilling requires higher capital investments and is complex due to depth, complicated well formations, and instability.
The drilling tools market has been further segmented, based on type, into drill bits, drill collars, drilling tubulars, drill swivels, drilling motors, drill reamers and stabilizers, mechanical thrusters, shock tools, and drilling jars. The drilling tubulars segment is expected to be the largest market due to increasing drilled footage and the development of deepwater oil & gas fields.
In this report, the drilling tools market has been analyzed with respect to 6 regions, namely, North America, Europe, Asia Pacific, Middle East, Africa, and South America. North America is projected to dominate the global drilling tools market during the forecast period due to the increasing shale gas production and the new energy reforms from the US government. North America is also expected to be the fastest-growing market, followed by Asia Pacific.
The major factors restraining the growth of the drilling tools market are high maintenance costs and longer transition times of drilling tools and global renewable energy targets.
Some of the leading players in the drilling tools market include Schlumberger (US), Halliburton (US), Weatherford (Switzerland), Baker Hughes (US), and National Oilwell Varco (US). New product launches was the most common strategy adopted by top players, followed by partnerships and collaborations.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Currency
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Market Size Estimation Methodology: Bottom-Up Approach
2.2.2 Market Size Estimation Methodology: Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Research Limitations
2.5 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Drilling Tools Market
4.2 Drilling Tools Market, By Application
4.3 Drilling Tools Market, By Type
4.4 North American Drilling Tools Market, By Application & Country
4.5 Drilling Tools Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Drilling Activities
5.2.1.2 Development of Unconventional Hydrocarbon Resources
5.2.2 Restraints
5.2.2.1 High Maintenance Cost and Transition Time
5.2.2.2 Increasing Focus on Renewable Energy Sources
5.2.3 Opportunities
5.2.3.1 New Oilfield Discoveries
5.2.3.2 Developments in Technology
5.2.4 Challenges
5.2.4.1 Prohibitive Cost of Drilling Tools for Offshore Applications
5.3 Value Chain Analysis
5.3.1 Oem/Suppliers
5.3.2 Drilling Service Providers
5.3.3 Exploration and Production Companies
6 Drilling Tools Market, By Application
6.1 Introduction
6.2 Onshore
6.3 Offshore
7 Drilling Tools Market, By Type
7.1 Introduction
7.2 Drill Bits
7.3 Drill Collars
7.4 Drilling Jars
7.5 Drilling Motors
7.6 Drilling Tubulars
7.7 Drill Swivels
7.8 Drill Reamers & Stabilizers
7.9 Mechanical Thrusters
7.10 Shock Tools
8 Drilling Tools Market, By Region
9 Competitive Landscape
9.1 Overview
9.2 Market Shares of Leading Players & Market Structure
9.3 Competitive Scenario
10 Company Profiles
- Baker Hughes
- Benchmarking
- Bico Drilling Tools
- Cougar Drilling Solutions
- Drilling Tools International
- Dynomax Drilling Tools
- Gyrodata
- Halliburton
- National Oilwell Varco
- Pacesetter Directional Drilling
- Rubicon Oilfield International
- Schlumberger
- Scientific Drilling
- Tianhe Oil Group
- Weatherford
- Wenzel Downhole Tools
For more information about this report visit https://www.researchandmarkets.com/research/bhblkg/global_drilling?w=5
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