Global Drilling Tools Market Research Report by Location, by Type, and by Region – Forecast till 2027
ID: MRFR/E&P/4429-HCR | February 2021 | Region: Global | 100 pages
Market Scenario
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.
With the development of new drilling technologies, unconventional drilling methods are witnessing a huge growth. Techniques such as horizontal drilling and vertical drilling are enabling oil companies to tap into previously unexplored resources. For all these drilling activities, drilling tools play a vital role in enabling smooth operations.
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.
The global drilling tools market is driven by the increased onshore and drilling activities in the North America and Asia Pacific region. For instance, since 2007, the U.S. has invested several billions in onshore drilling projects for the extraction of shale oil and gas. Similarly, in China, several onshore oil drilling projects are carried out to extract shale oil. This has resulted in China being the top shale oil producer in the world. Furthermore, offshore deepwater drilling projects are executed in the North Sea and Gulf of Mexico region. One of the other major drivers for the market is the increasing number of mature oil fields around the world. Many offshore oil production sites in the Gulf of Mexico region and the North Sea region are rapidly reaching their end of operational lifetime and new drilling operations are carried out in the region. The global drilling operations are expected to increase, once the major oilfield players resume oil drilling activity in the offshore regions.
The drilling tools market is expected to face regulatory concerns, which may hinder the growth of the market.
Global Drilling Tools market is projected to witness ~ 4.21% CAGR during the forecast period.
Market Segmentation
Global Drilling Tools Market
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.
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.
Frequently Asked Questions (FAQ) :
The market is set to record a growth rate of 4.21% during the appraisal timeline.
The market size by 2023 is slated to mushroom quite lucratively, given the rising world consumption as well as demand of oil and the increasing need to cater to this demand.
The well-known players in the market are BICO Drilling Tools, Inc., Drilling Tools International, Inc., Perkins Drilling Tools Inc., Schlumberger Limited, Weatherford International plc, Sandvik AB, National Oilwell Varco, L.P., Halliburton Company, Rubicon Oilfield International Holdings, L.P., Cougar Drilling Solutions Inc., and others.
Substantial investments in onshore drilling combined with the soaring demand for oil are inducing the market growth in APAC.
Onshore and offshore are the top applications considered in the report.
Table of content
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining power of buyers
3.1.3 Bargaining power of suppliers
3.1.4 Threat of substitutes
3.1.5 Segment rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Drilling tools Market, By Technology Type
5.1 Introduction
5.2 Drill Bits
5.3 Drill Collars
5.4 Drilling Jars
5.5 Drilling motors
5.6 Drilling tubulars
5.7 Drilling Swivels
5.8 Mechanical thrusters
5.9 Shock tools
5.10 Drill reamers & stablizers
6 Global Drilling tools Market, By Application Type
6.1 Introduction
6.2 Onshore
6.2.1 Market Estimates & Forecast, 2020-2027
6.2.2 Market Estimates & Forecast by Region, 2020-2027
6.3 Offshore
6.3.1 Market Estimates & Forecast, 2020-2027
6.3.2 Market Estimates & Forecast by Region, 2020-2027
9 Global Drilling tools Market, By Region
9.1 Introduction
9.2 North America
9.2.1 Market Estimates & Forecast, 2020-2027
9.2.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.2.3 Market Estimates & Forecast by Application Type, 2020-2027
9.2.4 U.S.
9.2.4.1 Market Estimates & Forecast, 2020-2027
9.2.4.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.2.4.3 Market Estimates & Forecast by Application Type, 2020-2027
9.2.5 Canada
9.2.5.1 Market Estimates & Forecast, 2020-2027
9.2.5.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.2.5.3 Market Estimates & Forecast by Application Type, 2020-2027
9.3 Europe
9.3.1 Market Estimates & Forecast, 2020-2027
9.3.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.3.3 Market Estimates & Forecast by Application Type, 2020-2027
9.3.4 U.K
9.3.4.1 Market Estimates & Forecast, 2020-2027
9.3.4.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.3.4.3 Market Estimates & Forecast by Application Type, 2020-2027
9.3.5 Germany
9.3.5.1 Market Estimates & Forecast, 2020-2027
9.3.5.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.3.5.3 Market Estimates & Forecast by Application Type, 2020-2027
9.3.6 Norway
9.3.6.1 Market Estimates & Forecast, 2020-2027
9.3.6.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.3.6.3 Market Estimates & Forecast by Application Type, 2020-2027
9.3.7 Russia
9.3.7.1 Market Estimates & Forecast, 2020-2027
9.3.7.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.3.7.3 Market Estimates & Forecast by Application Type, 2020-2027
9.3.8 Rest of Europe
9.3.8.1 Market Estimates & Forecast, 2020-2027
9.3.8.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.3.8.3 Market Estimates & Forecast by Application Type, 2020-2027
9.4 Asia Pacific
9.4.1 Market Estimates & Forecast, 2020-2027
9.4.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.4.3 Market Estimates & Forecast by Application Type, 2020-2027
9.4.4 China
9.4.4.1 Market Estimates & Forecast, 2020-2027
9.4.4.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.4.4.3 Market Estimates & Forecast by Application Type, 2020-2027
9.4.5 Indonesia
9.4.5.1 Market Estimates & Forecast, 2020-2027
9.4.5.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.4.5.3 Market Estimates & Forecast by Application Type, 2020-2027
9.4.6 Malaysia
9.4.6.1 Market Estimates & Forecast, 2020-2027
9.4.6.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.4.6.3 Market Estimates & Forecast by Application Type, 2020-2027
9.4.7 Rest of Asia Pacific
9.4.7.1 Market Estimates & Forecast, 2020-2027
9.4.7.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.4.7.3 Market Estimates & Forecast by Application Type, 2020-2027
9.5 Middle East and Africa
9.5.1 Market Estimates & Forecast, 2020-2027
9.5.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.5.3 Market Estimates & Forecast by Application Type, 2020-2027
9.5.4 Saudi Arabia
9.5.4.1 Market Estimates & Forecast, 2020-2027
9.5.4.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.5.4.3 Market Estimates & Forecast by Application Type, 2020-2027
9.5.5 Kuwait
9.5.5.1 Market Estimates & Forecast, 2020-2027
9.5.5.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.5.5.3 Market Estimates & Forecast by Application Type, 2020-2027
9.5.6 Nigeria
9.5.6.1 Market Estimates & Forecast, 2020-2027
9.5.6.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.5.6.3 Market Estimates & Forecast by Application Type, 2020-2027
9.5.7 Rest of Middle East
9.5.7.1 Market Estimates & Forecast, 2020-2027
9.5.7.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.6 Rest of the World
9.6.1 Market Estimates & Forecast by country, 2020-2027
9.6.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.6.3 Market Estimates & Forecast by Application Type, 2020-2027
10 Competitive Landscape
11 Company Profile
11.1 Schlumberger Limited.
11.1.1 Company Overview
11.1.2 Product/Services Offering
11.1.3 Financial Overview
11.1.4 Key Developments
11.1.5 Strategy
11.1.6 SWOT Analysis
11.2 Halliburton Company
11.2.1 Company Overview
11.2.2 Product /Services Offering
11.2.3 Financial Overview
11.2.4 Key Developments
11.2.5 Strategy
11.2.6 SWOT Analysis
11.3 National Oilwell Varco
11.3.1 Company Overview
11.3.2 Product /Services Offering
11.3.3 Financial Overview
11.3.4 Key Developments
11.3.5 Strategy
11.3.6 SWOT Analysis
11.4 Weatherford International plc
11.4.1 Company Overview
11.4.2 Product /Services Offering
11.4.3 Financial Overview
11.4.4 Key Developments
11.4.5 Strategy
11.4.6 SWOT Analysis
11.5 Drilling Tools International, Inc
11.5.1 Company Overview
11.5.2 Product /Services Offering
11.5.3 Financial Overview
11.5.4 Key Developments
11.5.5 Strategy
11.5.6 SWOT Analysis
11.6 Rubicon Oilfield International Holdings
11.6.1 Company Overview
11.6.2 Product /Services Offering
11.6.3 Financial Overview
11.6.4 Key Developments
11.6.5 Strategy
11.6.6 SWOT Analysis
11.7 Cougar Drilling Solutions Inc.,
11.7.1 Company Overview
11.7.2 Product /Services Offering
11.7.3 Financial Overview
11.7.4 Key Developments
11.7.5 Strategy
11.7.6 SWOT Analysis
11.8 BICO Drilling Tools, Inc.,
11.8.1 Company Overview
11.8.2 Product /Services Offering
11.8.3 Financial Overview
11.8.4 Key Developments
11.8.5 Strategy
11.8.6 SWOT Analysis
11.9 Perkins Drilling Tools Inc
11.9.1 Company Overview
11.9.2 Product /Services Offering
11.9.3 Financial Overview
11.9.4 Key Developments
11.9.5 Strategy
11.9.6 SWOT Analysis
11.10 Sandvik AB
11.10.1 Company Overview
11.10.2 Product /Services Offering
11.10.3 Financial Overview
11.10.4 Key Developments
11.10.5 Strategy
List of Tables
Table 1 Global Drilling tools Market: By Region, 2020-2027
Table 2 North America Drilling tools Market: By Country, 2020-2027
Table 3 Europe Drilling tools Market: By Country, 2020-2027
Table 4 Asia Pacific Drilling tools Market: By Country, 2020-2027
Table 5 RoW Drilling tools Market: By Country, 2020-2027
Table 6 Global Drilling tools Market, by Technology Type, By Regions, 2020-2027
Table 7 North America Drilling tools Market, by Technology Type, By Country, 2020-2027
Table 8 Europe Drilling tools Market, by Application type, By Country, 2020-2027
Table 9 Asia Pacific Drilling tools Market by Technology Type, By Country, 2020-2027
Table 10 RoW Drilling tools Market by Technology Type, By Country, 2020-2027
Table 11 Global Drilling tools Market by Application Market: By Regions, 2020-2027
Table 12 North America Drilling tools Market by Application: By Country, 2020-2027
Table 13 Europe Drilling tools Market by Application: By Country, 2020-2027
Table 14 Asia Pacific Drilling tools Market by Application: By Country, 2020-2027
Table 15 RoW Drilling tools Market by Application: By Country, 2020-2027
Table 16 Global Drilling tools Market, by Implementation Type, By Regions, 2020-2027
Table 17 North America Drilling tools Market, by Implementation Type, By Country, 2020-2027
Table 18 Europe Drilling tools Market, by Implementation Type, By Country, 2020-2027
Table 19 Asia Pacific Drilling tools Market, by Implementation Type, By Country, 2020-2027
Table 20 RoW Drilling tools Market, by Implementation Type, By Country, 2020-2027
Table 21 Global Drilling tools Market: By Region, 2020-2027
Table 22 Global Drilling tools Market: By Region, 2020-2027
Table 23 Global Drilling tools Market: By Region, 2020-2027
Table 24 North America Drilling tools Market, By Country
Table 25 North America Drilling tools Market, by Technology Type
Table 26 North America Drilling tools Market, by Application
Table 27 North America Drilling tools Market, By Implementation Type
Table 28 North America Drilling tools Market, By End-User
Table 29 Europe: Drilling tools Market, By Country
Table 30 Europe: Drilling tools Market, by Technology Type
Table 31 Europe: Drilling tools Market, by Application
Table 32 Europe: Drilling tools Market, By Implementation Type
Table 33 Europe: Drilling tools Market, By End-User
Table 34 Asia Pacific: Drilling tools Market, By Country
Table 35 Asia Pacific: Drilling tools Market, by Technology Type
Table 36 Asia Pacific: Drilling tools Market, by Application
Table 37 Asia Pacific: Drilling tools Market, By Implementation Type
Table 38 Asia Pacific: Drilling tools Market, By End-User
Table 39 RoW: Drilling tools Market, By Region
Table 40 RoW Drilling tools Market, by Technology Type
Table 41 RoW Drilling tools Market, by Application
Table 42 RoW Drilling tools Market, By Implementation Type
Table 43 RoW Drilling tools Market, By End-User
List of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS
FIGURE 7 VALUE CHAIN ANALYSIS
FIGURE 8 GLOBAL DRILLING TOOLS MARKETSHARE, BY TECHNOLOGY TYPE, 2020 (%)
FIGURE 9 GLOBAL DRILLING TOOLS MARKET, BY TECHNOLOGY TYPE, 2020-2027 (USD MILLION)
FIGURE 10 GLOBAL DRILLING TOOLS MARKETSHARE, BY IMPLEMENTATION TYPE, 2020 (%)
FIGURE 11 GLOBAL DRILLING TOOLS MARKET, BY IMPLEMENTATION TYPE, 2020-2027 (USD MILLION)
FIGURE 12 GLOBAL DRILLING TOOLS MARKET SHARE (%), BY REGION, 2020
FIGURE 13 GLOBAL DRILLING TOOLS MARKET, BY REGION, 2020-2027 (USD MILLION)
FIGURE 14 NORTH AMERICA DRILLING TOOLS MARKETSHARE (%), 2020
FIGURE 15 NORTH AMERICA DRILLING TOOLS MARKETBY COUNTRY, 2020-2027 (USD MILLION)
FIGURE 16 EUROPE DRILLING TOOLS MARKETSHARE (%), 2020
FIGURE 17 EUROPE DRILLING TOOLS MARKETBY COUNTRY, 2020-2027 (USD MILLION)
FIGURE 18 ASIA PACIFIC DRILLING TOOLS MARKETSHARE (%), 2020
FIGURE 19 ASIA PACIFIC DRILLING TOOLS MARKETBY COUNTRY, 2020-2027 (USD MILLION)
FIGURE 20 REST OF THE WORLD DRILLING TOOLS MARKETSHARE (%), 2020
FIGURE 21 REST OF THE WORLD DRILLING TOOLS MARKETBY COUNTRY, 2020-2027 (USD MILLION)
