PDC Drill Bits Market - Global Forecast to 2023
DUBLIN, May 24, 2018 /PRNewswire/ --
The "PDC Drill Bits Market by Type (Matrix Body and Steel Body), Size of PDC Cutter (Less than 9 mm, 9-14 mm, 15-24 mm, and Above 24 mm), Number of Blades (Less than 6, 6-10, and Above 10), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global PDC drill bits market is estimated to grow at a CAGR of 4.41% from 2018 to 2023, to reach a projected market size of USD 4.54 Billion by 2023. The market growth is likely to be driven by the increase in oil & gas drilling activities around the world.
The report segments the PDC drill bits market, by type, into matrix body and steel body. The matrix body segment is estimated to hold the largest share of the PDC drill bits market in 2017. The matrix body can withstand an impact load and is capable of drilling medium-hard to hard formations. These advantages are expected to drive the market for the matrix body type PDC drill bits.
The PDC drill bits market, by size of PDC cutter, is segmented into less than 9 mm, 9-14 mm, 15-24 mm, and above 24 mm. The 15-24 mm PDC drill bits market has the largest market share in 2017 and is estimated to grow at the highest rate during the forecast period. The 15-24 mm PDC cutter is used for drilling medium-hard and hard formations with a higher ROP, which is one of the major driving factors for the growth of the 15-24 mm PDC drill bits market.
The report further segments the PDC drill bits market, by number of blades, into less than 6, 6-10, and above 10. The 6-10 number of blades are having the largest market share for PDC drill bits. Higher ROP and less down-time for 6-10 number of blades are the major factors for the largest market share.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the PDC Drill Bits Market
4.2 PDC Drill Bits Market, By Country
4.3 North America: PDC Drill Bits Market, By Country & Type
4.4 Market, By Type
4.5 Market, By Size of PDC Cutter
4.6 Market, By Number of Blades
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Increasing Drilling Activities
5.1.1.2 PDC Bits Can Reduce the Total Cost By Three-Fourths
5.1.2 Restraints
5.1.2.1 Environmental Risks and Strict Government Regulations for Hydrocarbon Based Fuel Sources
5.1.3 Opportunities
5.1.3.1 Growing Production of Shale Gas
5.1.4 Challenges
5.1.4.1 Crude Oil Prices
5.1.4.2 Overheating Owing to High Rop of PDC Drill Bits
6 PDC Drill Bits Market, By Type
6.1 Introduction
6.2 Matrix Body
6.3 Steel Body
7 PDC Drill Bits Market, By Size of PDC Cutter
7.1 Introduction
7.2 15-24mm
7.3 9-14mm
7.4 Above 24mm
7.5 Less Than 9mm
8 PDC Drill Bits Market, By Number of Blades
8.1 Introduction
8.2 6-10
8.3 Less Than 6
8.4 Above 10
9 PDC Drill Bits Market, By Region
10 Competitive Landscape
10.1 Introduction
10.2 Market Ranking Analysis
10.3 Competitive Scenario
10.3.1 New Product Launches
10.3.2 Contracts & Agreements
10.3.3 Others
11 Company Profile
11.1 Benchmarking
11.2 Schlumberger
11.3 Baker Hughes (A Ge Company) Bhge
11.4 Halliburton
11.5 NOV
11.6 Varel
11.7 Atlas Copco
11.8 Drill Master International
11.9 Rubicon Oilfield International
11.10 Sichuan Chuanshi Diamond Bit
11.11 Shear Bits
11.12 Torquato
11.13 Ulterra
11.14 Volgaburmash
11.15 Western Drilling Tools
11.16 YPP
For more information about this report visit https://www.researchandmarkets.com/research/ll9rjp/pdc_drill_bits?w=5
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SOURCE Research and Markets
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