Drilling Tools Market Share, Industry Strategic Analysis, Demand, Suppliers and Forecasts 2023

Drilling Tools Market Research Report- Forecast to 2023

Drilling Tools Market Share, Industry Strategic

Analysis, Demand, Suppliers and Forecasts 2023

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Copyright Š 2018 Market Research Future.

Drilling Tools Market Research Report- Forecast to 2023

1 Summary The global drilling tools market is segmented on the basis of type, which is further segmented into drill bits, drilling tubular and motors, reamers, stabilizers, drill collars, drill jars, drill swivels, and mechanical thrusters. On the basis of application, the drilling tools market is segmented into onshore and offshore.

With advancement in drilling techniques, such as horizontal and vertical drilling, several onshore drilling projects are conducted throughout the world.

Key Players: The key players of the global Drilling Tools market are Schlumberger Limited, Halliburton Company, National Oilwell Varco, L.P., Weatherford International plc, Drilling Tools International, Inc., Rubicon Oilfield International Holdings, L.P., Cougar Drilling Solutions Inc., BICO Drilling Tools, Inc., Perkins Drilling Tools Inc., and Sandvik AB.

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Copyright Š 2018 Market Research Future.

Drilling Tools Market Research Report- Forecast to 2023

2

Market Overview

The world consumption of oil has been steadily increasing since the past decade. Globally, oil and gas accounted for 65% of the world’s energy supply with the offshore areas of oil and gas production accounting for at least 25% of the total supply. Primarily, oil and gas are produced and brought to surface through the drilling of underground reservoirs, both onshore and offshore. Drilling tools help in oil and gas production by enabling operators to drill oil wells. During the early 19th century, drilling tools were extensively used in the Middle East and other oil production regions of the world for the commercial production of oil and natural gas. Especially, the Gulf of Mexico region and the North Sea region witnessed a steady activity of drilling in the offshore regions for the production of oil. In the Middle East and other countries, oil wells were largely drilled onshore as compared to offshore regions, due to the huge availability of onshore resources.

Segments

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Copyright Š 2018 Market Research Future.

Drilling Tools Market Research Report- Forecast to 2023

3 Market Research Analysis North America and Europe are expected to be the major regions for the global drilling tools market. As increased investment is made in onshore and offshore drilling activities to produce oil and gas, the drilling tools are expected to command a greater market share. Moreover, in the Asia Pacific region, increased investments in onshore drilling and rising demand for oil is further expected to drive the market for drilling tools.

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Copyright Š 2018 Market Research Future.

Drilling Tools Market Research Report- Forecast to 2023

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Copyright Š 2018 Market Research Future.