PRN: Global Drilling Bits Market in Oil and Gas 2017-2021 - By Product Type, Application & Geography - Migration of Drilling into Unconventional Areas - Research and Markets

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Global Drilling Bits Market in Oil and Gas 2017-2021 - By Product Type, Application & Geography - Migration of Drilling into Unconventional Areas - Research and Markets

 
[25-January-2017]
 

DUBLIN, Jan 25, 2017 /PRNewswire/ --

Research and Markets has announced the addition of the "Global Drilling Bits Market in Oil and Gas 2017-2021" report to their offering.

The global drilling bits market in oil and gas to grow at a CAGR of 4.75% during the period 2017-2021.

Global Drilling Bits Market in Oil and Gas 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

One of the major trends in the global oil and gas drill bits market is the integration of drill bits in bottom-hole assemblies. Currently, many end-users demand packaged solutions for their drilling operations instead of individual drill bits. These packaged drilling solutions for bottom-hole assemblies integrate motors, drilling systems, and bits, thereby reducing the time and energy needed to assemble and calibrate the individual components before use.

According to the report, one of the major drivers for this market is migration of drilling into unconventional areas. One of the most striking feature of the recent generation of oil and gas exploration is the reaffirmation of the fact that the era of easy oil is closer to the end. This has resulted in inflated costs of hydrocarbon acquisition and has also displaced the operations worldwide.

Further, the report states that one of the major factors hindering the growth of this market is declining invest! ments in oil and gas industry. The investments in oil and gas extraction as well as pipeline transport for 2016 are estimated at $21.26 billion. This comes to 1.5% lower than the earlier estimate of 2016. The decreasing trend stems from lower estimates for field development, shutdown, and removal. The field development is partly due to the fact that the fields have come on stream, and therefore their category was changed from development to on stream status.

Key vendors

  • Baker Hughes
  • Halliburton
  • National Oilwell Varco
  • Schlumberger
  • Varel International

Other prominent vendors

  • Atlas Copco AB
  • Bellwether Resources International
  • Bit Brokers International
  • Century Products
  • DRILLBITS International (DBI)
  • Drilformance
  • Drill King International
  • Drilling Products (DPI)
  • Harvest Tool Company
  • Hole Products
  • Kay Rock Bit Company
  • Master Oil Tool
  • Nile Petroleum Industrial Company (NPICO)
  • OTS International
  • PDB Tools

Key Topics Covered:

Part 01: Executive summary

Part 02: Scope of the report

Part 03: Market research methodology

Part 04: Introduction

Part 05: Market landscape

Part 06: Market segmentation by product type

Part 07: Market segmentation by application

Part 08: Market segmentation by geography

Part 09: Market drivers

Part 10: Impact of drivers

Part 11: Market challenges

Part 12: Impact of drivers and challenges

Part 13: Market trends

Part 14: Vendor landscape

Part 15: Key vendor analysis

Part 16: Appendix

For more information about this report visit http://www.researchandmarkets.com/research/qqxf2w/global_drilling

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Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

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