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Drill Bits Market for Oil and Gas Industry Application Global Industry Analysis, Size, Share, Growth, Trends
and Forecast, 2013 - 2019
Published Date
2014-06-11
61 Page Report
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Press Release
Drill Bits for Oil and Gas Industry Application Market to Reach
3,605 Hundred Units by 2019
Transparency Market Research
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90, State Street, Suite 700.
Albany, NY 12207
United States
www.transparencymarketresearch.com
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REPORT DESCRIPTION
According to a new market report Drill Bits for Oil and Gas Industry Application Market Global Industry Analysis, Size,
Share, Growth, Trends and Forecast, 2013 - 2019, published by Transparency Market Research, the market, in terms of
volume, for drill bits globally is forecast to reach 3,605 hundred units by 2019. Growing energy demand and rising
exploration and production (E&P) activities worldwide along with the need to contain drilling cost and time, are some of
the key factors responsible for drill bits market growth. Advancements in the manufacturing process and drill bits material
composites, along with the improvements in bit design are further supporting the market growth.
Browse the full Drill Bits for Oil and Gas Industry Application Market report at
http://www.transparencymarketresearch.com/drill-bit-market.html
The global drill bits market volume for oil and gas industry was reported to be 2,597 hundred units in 2012 and is forecast
to grow at a CAGR of 4.9% from 2013 to 2019. Drill bit is an essential component of drilling activity that crushes rock
formations, in order to extract oil, water or gas. Drilling deepwater involves considerable challenges, such as continuous
fatigue monitoring of the entire structure, especially the risers. Further, drilling in abrasive formations lead to broken drill
bits and in turn leads to more replacement sales. In such a case, producers of high-efficiency and versatile drill bits, risers
and other drilling equipment would benefit in the long run. Drill bit market is segmented by products into two major types,
namely roller cone bits and fixed cutter bits.
In 2012, drill bits market by product was dominated by the rollers cone bits. Currently, popularity of drill bits using PDC
(Polycrystalline Diamond Compact) cutters has grown considerably, and now they are almost as common as roller cone
bits in several drilling applications. Oil and gas drilling industry is shifting its focus towards PDC drill bits as it offers several
performance benefits over roller cone bits. These benefits are in terms of reduced drilling cost due to less frequent bit
repair/replacement requirement, which helps reduce the total drilling time.
Geographically, North America was estimated as largest market for drill bits used in Oil and Gas industry and is forecast to
maintain its dominance throughout the forecast period. In the past couple of years, emergence of horizontal drilling
techniques has greatly increased demand for drilling equipment in North America. As new technologies in horizontal
drilling has opened up access to deep underground shale deposits. In 2012, Europe and North America had a collective
volume share of 55.5% of the overall drill bit market in Oil and Gas industry. In Asia-Pacific region, demand for natural gas
is increasing, leading to drilling activities for unconventional natural gas at remarkable rates.
Some of the major players in drill bits market include Baker Hughes, Inc., Tercel Bits, Ulterra Drilling Technologies,
National Oilwell Varco, Inc., Halliburton, Inc., Varel international, Inc., Scientific Drilling International, Inc., among others.
The market volume share of the top four leading players collectively accounted for around 65.7% of the total market share
in 2012.
This report analyzes the drill bits for oil and gas industry application market in terms of volume (hundred units). The
market has been segmented as follows:
Drill Bits for Oil and Gas Industry Application Market, By Product
Drill Bits for Oil and Gas Industry Application Market, By Geography
North America
Europe
Asia-Pacific
Rest of the World (RoW)
Table of Contents
Chapter 1 Preface
1.1 Report description and scope
1.1.1 Market segmentation
1.2 Research methodology
Chapter 3 Global Drill Bits for Oil and Gas Industry Application Market Analysis
3.1 Market overview
3.2 Average selling price
3.3 Expected life cycle of drill bits
3.4 Overview of drill bit repairs and restoration costs
3.5 World and U.S. wellhead data
3.6 Overview of wellhead risers (Qualitative)
3.7 Market dynamics
3.7.1 Drivers
3.7.2 Drivers: Impact analysis
3.7.2.1 Rising exploration activities worldwide
3.7.2.2 Growing worldwide energy demand
Chapter 4 Global Drill Bits for Oil and Gas Industry Application Market Analysis, by Product
4.1 Global drill bits for oil and gas industry application market overview, by product, 2012 & 2019 (%)
4.2 Roller cone drill bits for oil and gas industry application market, 2011 2019 (hundred units)
4.2.1 Roller cone drill bits for oil and gas industry application market, by type
4.3 Fixed cutter drill bits for oil and gas industry application market, 2011 2019 (hundred units)
4.3.1 Fixed cutter drill bits for oil and gas industry application market, by type
Chapter 5 Global Drill Bits for Oil and Gas Industry Application Market Analysis, by Geography
5.1 Global drill bits for oil and gas industry application market overview, by geography, 2012 & 2019 (%)
5.2 North America drill bits for oil and gas industry application market, 2011 2019 (hundred units)
5.3 Europe drill bits for oil and gas industry application market, 2011 2019 (hundred units)
5.4 Asia-Pacific drill bits for oil and gas industry application market, 2011 2019 (hundred units)
5.5 RoW drill bits for oil and gas industry application market, 2011 2019 (hundred units)
List of Figures
FIG. 1 Global drill bits for oil and gas industry application market size and forecast, 2011-2019 (hundred units) and Y-o-Y
growth (%)
FIG. 2 Growth in primary energy demand
FIG. 3 Value chain analysis
FIG. 4 Porters five forces analysis
FIG. 5 Market attractiveness analysis, by, 2012
FIG. 6 Market share of key players, 2012 (%)
FIG. 7 Global drill bits for oil and gas industry application market volume share, by product, 2012 and 2019 (%)
FIG. 8 Roller cone drill bits for oil and gas industry application market, 2011 2019 (hundred units)
FIG. 9 Fixed cutter drill bits for oil and gas industry application market, 2011 2019 (hundred units)
FIG. 10 Global drill bits for oil and gas industry application market overview, by geography, 2012 & 2019 (%)
FIG. 11 North America drill bits for oil and gas industry application market, 2011 2019 (hundred units)
FIG. 12 Europe drill bits for oil and gas industry application market, 2011 2019 (hundred units)
FIG. 13 Asia-Pacific drill bits for oil and gas industry application market, 2011 2019 (hundred units)
FIG. 14 RoW drill bits for oil and gas industry application market, 2011 2019 (hundred units)
List of Tables
TABLE 1 Drill bits for oil and gas industry application market segmentation
TABLE 2 Drill bits for oil and gas industry application market snapshot, 2012 & 2019
TABLE 3 Average selling price
TABLE 4 Worldwide Rig Count
TABLE 5 U.S. crude oil and natural gas drilling activity
TABLE 6 U.S. Rotary Rig count by type of drilling
TABLE 7 U.S. Rotary Rig count by product
TABLE 8 Impact analysis of drivers
TABLE 9 Impact analysis of restraints
TABLE 10 Roller cone drill bits for oil and gas industry application market, by type, 2011 2019 (hundred units)
TABLE 11 Fixed cutter drill bits for oil and gas industry application market, by product, 2011 2019 (hundred units)
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