Oil and Gas Drill Bit Market Segmentation and Major key Players Analysis 2022

Increasing E&P activities on account of increasing energy demand is expected to remain a key driving factor for global oil and gas drill bit market over the forecast period. Shift in trend towards developing unconventional reserves such as tight gas, shale and CBM is also expected to have a positive influence on the market growth.

The Global Oil and Gas Drill Bit Market is expected to reach USD 7.62 billion by 2022, according to a new report by Grand View Research, Inc.

Hydrocarbon extraction from these reserves requires highly durable bit with improved performance and rate of penetration (ROP). Roller-cone bit were the largest product segment accounted for over 70% of total market volume in 2014. Roller-cone downhole components particularly those fabricated from tungsten carbide inserts are designed to operate in conventional formations and offer excellent rate of penetration (ROP) in initial stage of drilling.

To Know More About Oil and Gas Drill Bit Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/oil-gas-drill-bit-market

These products have less longevity as compared to the fixed cutter bit particularly when used in unconventional reserves. Fixed cutters are estimated to witness high growth as compared to the conventional tricone counterparts. High durability along with enhanced operability in most of the unconventional reserves coupled with increasing popularity of diamond cutters in the industry is expected to steer product demand in foreseeable future.

Top Players of Oil and Gas Drill Bit Market:

Major companies operating in the global oil and gas drill bit market include Schlumberger, Baker Hughes, Atlas Copco, Halliburton, Varel International, Inc., National Oil-well Varco, Inc., Kingdream Public Limited Company and Torquado Drilling Accessories Inc.

Market Segmentation of Oil and Gas Drill Bit Market:

The Global Oil and Gas Drill Bit Market Segmented on the basis of Product and Region.

By Products:

Roller-cone bit

Miller-tooth bit
Tungsten carbide inserts

Fixed cutter bit

Polycrystalline diamond cutters (PDC)
Natural/synthetic diamond cutter

By Region:

    North America
    Europe
    Asia Pacific
    Rest of the world (RoW)

Inquire about Oil and Gas Drill Bit Market with Our Experts @ http://bit.ly/2IWVUnA

Comments

U.S. Liquid Waste Management Market Segments and Key Trend till 2025

Growing organic & non-hazardous liquid waste generation through residential and commercial sources is expected to drive demand over the forecast period. The U.S. Liquid Waste Management Market is expected to reach USD 22.5 Billion by 2025, according to a new report by Grand View Research, Inc. Industrial & residential liquid waste is often associated with water-borne diseases since improper disposal of the waste leads to water pollution, environmental degradation, and soil contamination. As a result, the demand for hygienic liquid waste management services is expected to grow significantly over the forecast period. A major trend arising from the need to improve liquid waste management is the outsourcing of the services to global & competitive players in order to improve the focus on sustainability and meet stringent guidelines. In addition, the government undertakes public-private partnership projects to enhance the efficiency of the waste management process, whi...

Triethylene Glycol (TEG) Market with Current Trends Analysis -2022

Increasing natural gas output is expected to be one of the key factors driving TEG demand over the forecast period. Rise in gas production is expected to have a two-fold impact on the TEG market providing abundant feedstock for TEG manufacture on the supply side and utilizing TEG for gas de-hydration on the demand side. Aforementioned factor is anticipated to augment market growth over the forecast period. The Global Triethylene Glycol (TEG) Market is expected to reach USD 718.3 million by 2022, according to a new study by Grand View Research, Inc. Use of TEG in natural gas dehydration accounted for over 55% of global TEG volume in 2014. The segment is also expected to witness fastest growth at an estimated CAGR of over 3.5% from 2015 to 2022. High consumption of TEG in natural gas dehydration can be attributed to growing demand from developed nations including Japan, U.S., EU, Russia and Qatar. Moreover, improving infrastructure for gas import, transport and utilization in ...

Specialty Ingredients Market Figures and Analytical Insights 2019 – 2022

Shift in consumer focus towards organic products coupled with growing demand for anti-ageing and environmental defense skin care products is expected to drive the global specialty ingredients market over the forecast period. The Global Specialty Ingredients Market is expected to reach USD 141.12 billion by 2022, according to a new report by Grand View Research, Inc. Increasing preference for healthy and nutritional diet and enhancing growth of high quality pharmaceutical drugs is also expected to have a positive influence on the market growth. Food and beverages dominated the global industry on account of high demand for various beverages, supplements and nutritional dietary products across the globe. Food & beverage industry is expected to experience advancement owing to increasing demand for organic items coupled with high-quality and customized requirements by population over the forecast period. Changing lifestyle has also enhanced preference for nutritional goods whic...

Chemical Planet

Search This Blog