Gurgaon Samachar

PDC Drill Bits Market Projected to Reach $4.54 Billion by 2023 | Leading key players are Schlumberger, BHGE, Halliburton, NOV, Varel, Atlas Copco, Ultera, Drill

 Breaking News
  • No posts were found

PDC Drill Bits Market Projected to Reach $4.54 Billion by 2023 | Leading key players are Schlumberger, BHGE, Halliburton, NOV, Varel, Atlas Copco, Ultera, Drill

October 30
04:57 2020
PDC Drill Bits Market Projected to Reach $4.54 Billion by 2023 | Leading key players are Schlumberger, BHGE, Halliburton, NOV, Varel, Atlas Copco, Ultera, Drill

The increase in the shale gas exploration & production is also likely to boost the demand for PDC drill bits in the region during the forecast period
The PDC drill bits market was valued at USD 3.52 Billion in 2017 and is estimated to grow at a CAGR of 4.41% from 2018 to 2023, to reach a market size of USD 4.54 Billion by 2023.

According to the new market reseaerch report 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 (North America, Asia Pacific, and Europe) – Global Forecast to 2023″, The PDC drill bits market is expected to grow from an estimated USD 3.66 Billion in 2018 to USD 4.54 Billion by 2023, at a CAGR of 4.41% during the forecast period. This growth can be attributed to factors such as increasing oil & gas drilling activities in the world and need for advanced techniques for faster drilling in less downtime.                                                                          

Browse 70 market data Tables and 38 Figures spread through 123 Pages and in-depth TOC on “PDC Drill Bits Market Global Forecast to 2023”

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=33536072 

The matrix body segment is estimated to hold the largest share of PDC drill bits market, by type, during the forecast period

The matrix body segment held the largest share of the PDC drill bits market in 2017 and is expected to grow at a decent pace during the forecast period. The large market share of this segment can be attributed to the rising demand for faster drilling with less wear and tear of drill bits in medium-hard and hard formations.

The 6–10 blade segment was estimated to be the largest segment of the PDC drill bits market, by number of blades, in 2017

The 6–10 blade segment was estimated to be the largest segment of the PDC drill bits market, by number of blades, in 2017. The 6–10 blades of PDC drill bits are mainly used for higher Rate of Penetration (ROP) drilling in medium-hard formations. Countries such as the US, China, Saudi Arabia, and Oman are showing rapid growth in the 6–10 blades PDC drill bits segment because of the recent increase in shale gas production and oil drilling.

The PDC drill bits market has been segmented as follows.

By Type:

  • Matrix Body
  • Steel Body

By Size of PDC Cutter:

  • Less than 9 mm
  • 9–14 mm
  • 15–24 mm
  • Above 24 mm

By Number of Blades:

  • Less than 6
  • 6–10
  • Above 10

By Region:

  • North America
  • Asia Pacific
  • Europe
  • South America
  • Middle East
  • Africa

Speak to Analyst @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=33536072

North America: The leading regional market in PDC drill bits

In this report, the PDC drill bits market has been analyzed with respect to 6 regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. North America is estimated to be the largest market for PDC drill bits. The increasing shale gas exploration & production in the region is the major factor for the growth of the market.

The report provides an in-depth understanding of the competitive landscape and includes profiles of some of the leading players in the PDC drill bits market. The key players include Schlumberger (US), BHGE (US), Halliburton (US), NOV (US), Varel (US), Atlas Copco (Sweden), Ultera (US), Drill Master International (US), Sichuan Chuanshi Diamond Bit (China), Torquato (US), Rubicon Oilfield International (US), and Western Drilling tools (Canada), Shear bits (Canada), Volgaburmash (Russia). These players adopted various strategies, such as new product launches, contracts & agreements, and mergers & acquisitions to increase their global presence and market share.

Browse more related reports:

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

https://www.marketsandmarkets.com/Market-Reports/drilling-tools-market-18283501.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/pdc-drill-bits-market-33536072.html


Warning: count(): Parameter must be an array or an object that implements Countable in /home/haridwartoday/gurgaon-samachar.com/wp-content/themes/legatus-theme/includes/single/post-tags.php on line 5
Share