Global Drilling Tools Market Is Registering a Healthy 4.7% CAGR Between 2019 And 2024

The Global Oil & Gas Drilling Tools Market is estimated to reach USD 2.23 Billion in 2024 at a CAGR of 4.7%. Increase in shale gas exploration and increasing technological capabilities of drillers is expected to drive the oil & gas drilling tools market during the forecast period. However, high maintenance cost , highly volatile oil prices, and stringent government regulations against offshore drilling activities is expected to restrain the market during the forecast period. Development of deepwater oil and gas fields is expected to become an opportunity for oil & gas drilling tools market.

Drill is an instrument with an edged or pointed end used for making holes in hard substances. Equipment which are used in drilling process are known as drilling tools. Drilling tools are very useful to empower you to carry out an intense job with much ease and comfort. It is frequently used in household applications, factories, workshops as well as industries. Some key players of drilling tools market are Schlumberger, Halliburton, Weatherford, Baker Hughes, and National Oilwell Varco among others.

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Drilling Tool Market: Trends, Segmentation & Drivers

This market research report offers a comprehensive analysis of key market trends in the global oil & gas drilling tools market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks. Based on type, the drillings tools market can be segmented into drill bit, drilling tubulars, drilling collars, drill swivel, drill stabilizers and reamers, drill jars, mud motors, mechanical thrusters, and others. The segmentation by Application includes onshore and offshore. The regional analysis is covered under five major regions such as North America, South America, Europe, Asia-Pacific, and the Middle East and Africa, with individual country-level analysis

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Drilling Tool Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Oil & Gas Drilling Tools Market by Type

  • Drill Bit
  • Drilling Tubulars
  • Drilling Collars
  • Drill Swivel
  • Drill Stabilizers and Reamers
  • Drill Jars
  • Mud Motors
  • Mechanicial Thrusters
  • Others

 

Oil & Gas Drilling Tools Market, by Application

  • Onshore
  • Offshore

 

Oil & Gas Drilling Tools Market by Region

  • Asia-Pacific
    • China
    • Indonesia
    • India
    • Malaysia
    • Australia
    • Rest of Asia-Pacific
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Norway
    • UK
    • Netherlands
    • Polland
    • Russia
    • Denmark
    • Rest of Europe
  • Middle East
    • Saudi Arabia
    • Iran
    • UAE
    • Rest of Middle East
  • South America
    • Brazil
    • Argentina
    • Venezuela
    • Rest of South America

 

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