Drilling Tools Market Forecast 2018-2027: Trends and Competition | Techsci Research

by Kumar S. Digital Marketing Specialist

The increasing drilling activities, technological advancements, and shale gas exploration activities, along with the development of deep-water oil & gas fields, are projected to drive a steady Compound Annual Growth Rate (CAGR) for the global drilling tools market during the forecast period. The global drilling tools market has been categorized into type, application, and region. Drill bits, drilling tubulars, drilling motors, drill reamers and stabilizers, drill collars, drill jars, drill swivels, and mechanical thrusters are the types of drilling tools segmented in the market.

The drilling tubulars segment is expected to dominate the market due to the growing drilled footage and the development of deep-water oil & gas fields. North America, which dominated the market in 2021, is expected to continue dominating the global drilling tools market during the forecast period due to increasing shale gas production and new energy reforms by the US government. Gyrodata, Baker Hughes, Halliburton, Schlumberger, Cougar Drilling Solutions, Drilling Tools International, Pacesetter Directional Drilling, Tianhe Oil Group, Wenzel Downhole Tools, and Bico Drilling Tools are some of the leading players in the global drilling tools market.

Objective of the Study:

To analyse and forecast the market size of drilling tools market, in terms of value.
To classify and forecast global drilling tools market based on type, application, and regional distribution.
To identify drivers and challenges for global drilling tools market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global drilling tools market.
To conduct the pricing analysis for drilling tools market.
To identify and analyse the profile of leading players involved in the manufacturing of global drilling tools market.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the suppliers which could not be identified due to the limitations of secondary research. TechSci Research analysed the service offerings, distribution channels and presence of all major collaboration manufacturer across the globe.

TechSci Research calculated the market size of Global Drilling Tools Market using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.

Key Target Audience:

Drilling Tools Manufacturers
Oilfield Service Providers
Private Equity Groups
Traders, Distributors, and Suppliers
Raw Material Suppliers
Industry associations and experts
Research organizations and consulting companies.
Research Institutes
Industry associations
Market research and consulting firm.

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration manufacturer and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

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About TechSci Research:

TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.

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