The global Oil And Gas Drill Bit Market was valued at more than USD 4.9 billion in 2014. Increasing global demand for energy is expected to drive the demand for drill bit as exploration and production especially for shale gas are anticipated to rise over the forecast period. Increasing offshore drilling activities in the U.S. and the Middle East is anticipated to augment product demand over the forecast period.
Request a Sample PDF Copy of This Report @ https://www.millioninsights.com/industry-reports/oil-gas-drill-bit-market/request-sample
Market Synopsis of Oil and Gas Drill Bit Market:
Various technological
developments and product launches such as TerrAdapt adaptive drill bit and
hybrid drill bits that combines the characteristics of technologies such as
polycrystalline diamond bits (PDC) some of the new products in the market.
Application of these new products has been increasing in directional drilling and
large diameter drilling operation. Effective selection of drill bit type and
in-depth testing of material has proven in cost saving and hence escalated
overall profit.
The dip in the oil prices in the
last few years has tremendously affected the E&P in oil and gas sector,
hence restricting the development of new technologies in the drill bit
industry. Growing concern of E&P companies to reduce operating costs along
with rising requirement for optimized drilling performance have enforced OEM
manufacturers to improvise bit design and performance. Changing customer
preference for cost-effective equipment owing to of technological advancements
have created opportunities for future development. Also, sustainability of the
market depends on the supply of raw materials, product development and majorly
on the prices.
Product Insights:
On the basis of product different
types of drill bits are that have been considered include fixed cutter bits and
roller cone cutter. Roller cone bits are sub-divided into tungsten carbide bits
and milled-tooth bits. Also, the fixed cutter are further divided as
polycrystalline diamond bits (PDC) and natural diamond bits. Roller cone bits
are more efficient in soft formations as compared to other down-hole tools.
Recent developments of sealed bearings are corrosion free and have minimum
failure risks.
View Full Table of Contents of This Report @ https://www.millioninsights.com/industry-reports/oil-gas-drill-bit-market
Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Oil and Gas Drill Bit:
Market Variables, Trends & Scope
Chapter 4 Oil and Gas Drill Bit:
Product Estimates & Trend Analysis
Chapter 5 Oil and Gas Drill Bit:
Application Estimates & Trend Analysis
Chapter 6 Oil and Gas Drill Bit:
End-use Estimates & Trend Analysis
Chapter 7 Oil and Gas Drill Bit:
Industrial End-use Estimates & Trend Analysis
Chapter 8 Oil and Gas Drill Bit:
Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Oil and Gas Drill Bit:
Manufacturers Company Profiles
Get in touch
At Million Insights, we work with
the aim to reach the highest levels of customer satisfaction. Our
representatives strive to understand diverse client requirements and cater to
the same with the most innovative and functional solutions.
No comments:
Post a Comment