The drilling tool market is projected to reach USD 8.61 billion by 2022, at a CAGR of 4.75%, from 2017 to 2022. Increasing drilling activities and the development of unconventional hydrocarbon resources along with growing energy demand in Asia Pacific are driving drilling tools market.
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High maintenance costs and transition time along with an increasing focus on renewable energy sources act as restraints for market.
1 Attractive Opportunities in the Drilling Tools Market
2 Drilling Tools Market, By Application
3 Drilling Tools Market, By Type
4 North American Drilling Tools Market, By Application & Country
5 Drilling Tools Market, By Country
The drilling tubulars market is expected to grow at the highest CAGR during the forecast period. The growth of the market can be attributed to the increasing drilled footage and development of deepwater oil &gas blocks in countries such as Brazil and Mexico.
“The drilling tubulars sub-segment of the drilling tools market, by type, is expected to grow at the highest CAGR from 2017 to 2022.”
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Report provides a picture of drilling tools market across oil & gas industry and different regions. It aims at estimating market size and future growth potential of market across different segments such as type, application, and region.
Furthermore, report includes an in-depth competitive analysis of key players in the market along with their company profiles, recent developments, and key market strategies.
The target audience of this report includes:
- Drilling tool manufacturers and suppliers
- Exploration and production companies
- National and international drilling associations
- Oilfield services providers
Dirlling tools market has been segmented on the basis of type, application, and region, with a focus on industry analysis (industry trends), market ranking analysis of the top players, supply chain analysis, and company profiles, which together comprise the basic views on the competitive landscape, emerging and high-growth segments of the drilling tools market, high-growth regions, and market drivers, restraints, and opportunities.
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Benefits of this report
- The report identifies and addresses key solution operators for drilling tools, which would help solution providers review the growth in the demand for services.
- The report helps solution providers understand the pulse of the market and provides insights into drivers, restraints, and challenges.
- The report will help key players understand the strategies of their competitors better, and will help in making strategic decisions.
The drilling tools market has been further segmented, based on type, into drill bits, drill collars, drilling tubulars, drill swivels, drilling motors, drill reamers and stabilizers, mechanical thrusters, shock tools, and drilling jars. The drilling tubulars segment is expected to be the largest market due to increasing drilled footage and the development of deepwater oil & gas fields.
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