Drilling Tools Market by Type (Drill Bits, Drilling Tubulars, Drilling Motors, Drill Reamers and Stabilizers, Drill Collars, Drill Jars, Drill Swivels, Mechanical Thrusters), Application (Onshore and Offshore), and Region - Global Forecast to 2022
[124 Pages Report] The global drilling tools market was valued at USD 5.79 Billion in 2016 and is expected to grow at a CAGR of 4.75%, during the forecast period, to reach USD 8.61 Billion by 2022. The market growth for drilling tools is mainly driven by increasing drilling activities as well as the development of unconventional hydrocarbon resources. Another factor driving the demand for drilling tools is the increasing energy demand in Asia Pacific and growing oil & gas production in oil-importing countries to reduce trade deficits.
The years considered for the study are as follows:
- Base Year- 2016
- Estimated Year- 2017
- Projected Year- 2022
- Forecast Period- 2017 to 2022
The base year considered for company profiles is 2016. Whenever information was unavailable for the base year, the prior year has been considered.
Objectives of the Study
- To define, describe, segment, and forecast the global market by application, type, and region
- To provide detailed information about the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the market with respect to individual growth trends, future prospects, and contribution of each segment to the market
- To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
- To track and analyze competitive developments such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the market
- To benchmark players in the market using the proprietary competitive leadership mapping, which analyzes market players on various parameters within the broad categories of business and product strategies
- To strategically profile key players and comprehensively analyze their market shares and core competencies
Research Methodology
This research study involved the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global drilling tools market. Primary sources are mainly industry experts from the core and related industries, service providers, technology developers, standards and certification organizations of companies, and organizations related to all segments of this industrys value chain. The points below explain the research methodology.
- Study of the annual revenues and market developments of the major players providing drilling tools
- Assessment of future trends and growth of the market
- Assessment of the market with respect to the demand for each type of reservoir and application
- Analysis of market trends in various regions or countries by studying the new exploration blocks and well data
- Study of contracts and developments related to the market by key players across different regions
- Finalization of the overall market sizes by triangulating the supply-side data, which includes product developments and annual revenues of companies providing drilling tools across the globe
After arriving at the overall market size, the total market has been split into several segments and sub-segments. The figure below illustrates the breakdown of primaries conducted during the research study by company type, designation, and region
To know about the assumptions considered for the study, download the pdf brochure
Market Ecosystem
Drilling tools market ecosystem comprises equipment manufacturers/suppliers such as Schlumberger (US), National Oilwell Varco (US), Halliburton (US), BHGE (US), and Weatherford (Switzerland). It also includes drilling service providers such as Transocean (Switzerland), Nabors (Bermuda), and Helmerich & Payne (US). It comprises exploration and production companies including Shell (Netherlands), Chevron (US), ExxonMobil (US), British Petroleum (UK), Saudi Aramco (Saudi Arabia), Petrobras (Brazil), and Petronas (Malaysia).
Target Audience
The target audience of this report includes:
- Drilling tool manufacturers and suppliers
- Exploration and production companies
- National and international drilling associations
- Oilfield services providers
Want to explore hidden markets that can drive new revenue in Drilling Tools Market?
- By Application
- Onshore
- Offshore
- Tool type
- Drill Bits
- Drill Collars
- Drilling Jars
- Drilling Motors
- Drilling Tubulars
- Drill Swivels
- Drill Reamers and Stabilizers
- Mechanical Thrusters
- Shock Tools
- By Region
- North America
- Asia Pacific
- Europe
- Middle East
- Africa
- South America
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the clients specific needs. The following customization options are available for this report:
Regional Analysis
Further breakdown of region or country-specific analysis
Company Information
Detailed analysis and profiling of additional market players (up to 5)
The global drilling tools market is projected to grow at a CAGR of 4.75%, from 2017 to 2022, to reach a market size of USD 8.61 Billion by 2022, from an estimated market size of USD 6.83 Billion in 2017. Increasing drilling activities, development of unconventional hydrocarbon resources coupled with high energy demand from Asia Pacific are driving the market.
The report segments the drilling tool market, by application, into onshore and offshore. Onshore application segment is expected to account for the larger market share. Onshore drilling is more cost-effective and less complex than offshore. Offshore drilling requires higher capital investments and is complex due to depth, complicated well formations, and instability.
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.
In this report, the drilling tools market has been analyzed with respect to 6 regions, namely, North America, Europe, Asia Pacific, Middle East, Africa, and South America. North America is projected to dominate the global market during the forecast period due to the increasing shale gas production and the new energy reforms from the US government. North America is also expected to be the fastest-growing market, followed by Asia Pacific.
The major factors restraining the growth of the market are high maintenance costs and longer transition times of drilling tools and global renewable energy targets.
Some of the leading players in the drilling tools market include Schlumberger (US), Halliburton (US), Weatherford (Switzerland), Baker Hughes (US), and National Oilwell Varco (US). New product launches was the most common strategy adopted by top players, followed by partnerships and collaborations.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Exclusive indicates content/data unique to MarketsandMarkets and not available with any competitors.
Table of Contents
1 Introduction (Page No. - 13)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Regional Scope
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Stakeholders
2 Research Methodology (Page No. - 16)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Market Size Estimation Methodology: Bottom-Up Approach
2.2.2 Market Size Estimation Methodology: Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Research Limitations
2.5 Research Assumptions
3 Executive Summary (Page No. - 24)
4 Premium Insights (Page No. - 29)
4.1 Attractive Opportunities in the Market
4.2 Market, By Application
4.3 Market, By Type
4.4 North American Market, By Application & Country
4.5 Market, By Country
5 Market Overview (Page No. - 32)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Drilling Activities
5.2.1.2 Development of Unconventional Hydrocarbon Resources
5.2.2 Restraints
5.2.2.1 High Maintenance Cost and Transition Time
5.2.2.2 Increasing Focus on Renewable Energy Sources
5.2.3 Opportunities
5.2.3.1 New Oilfield Discoveries
5.2.3.2 Developments in Technology
5.2.4 Challenges
5.2.4.1 Prohibitive Cost of Drilling Tools for Offshore Applications
5.3 Value Chain Analysis
5.3.1 Oem/Suppliers
5.3.2 Drilling Service Providers
5.3.3 Exploration and Production Companies
6 Market, By Application (Page No. - 38)
6.1 Introduction
6.2 Onshore
6.3 Offshore
7 Market, By Type (Page No. - 42)
7.1 Introduction
7.2 Drill Bits
7.3 Drill Collars
7.4 Drilling Jars
7.5 Drilling Motors
7.6 Drilling Tubulars
7.7 Drill Swivels
7.8 Drill Reamers & Stabilizers
7.9 Mechanical Thrusters
7.10 Shock Tools
8 Market, By Region (Page No. - 51)
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Asia Pacific
8.3.1 China
8.3.2 India
8.3.3 Indonesia
8.3.4 Australia
8.3.5 Rest of Asia Pacific
8.4 Europe
8.4.1 Russia
8.4.2 UK
8.4.3 Norway
8.4.4 Poland
8.4.5 Denmark
8.4.6 Romania
8.4.7 Kazakhstan
8.4.8 Ukraine
8.4.9 Rest of Europe
8.4.10 Rest of Russian Caspian
8.5 South America
8.5.1 Brazil
8.5.2 Colombia
8.5.3 Argentina
8.5.4 Rest of South America
8.6 Middle East
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Oman
8.6.4 Iran
8.6.5 Rest of Middle East
8.7 Africa
8.7.1 Algeria
8.7.2 Angola
8.7.3 Libya
8.7.4 Nigeria
8.7.5 Rest of Africa
9 Competitive Landscape (Page No. - 83)
9.1 Overview
9.2 Market Shares of Leading Players & Market Structure
9.2.1 Middle East: Market Share Analysis, By Value, 2016
9.2.2 Asia Pacific: Market Share Analysis, By Value, 2016
9.2.3 Europe: Market Share Analysis, By Value, 2016
9.2.4 North America: Market Share Analysis, By Value, 2016
9.2.5 South America: Market Share Analysis, By Value, 2016
9.2.6 Africa: Market Share Analysis, By Value, 2016
9.3 Competitive Scenario
9.3.1 New Product Launches
9.3.2 Mergers & Acquisitions
9.3.3 Investments & Expansions
9.3.4 Contracts & Agreements/ Joint Ventures/Partnerships & Collaborations
10 Company Profiles (Page No. - 90)
(Business Overview, Products Offered, Recent Developments, MnM View)*
10.1 Benchmarking
10.2 Baker Hughes
10.3 Halliburton
10.4 National Oilwell Varco
10.5 Schlumberger
10.6 Weatherford
10.7 Cougar Drilling Solutions
10.8 Drilling Tools International
10.9 Rubicon Oilfield International
10.10 Bico Drilling Tools
10.11 Dynomax Drilling Tools
10.12 Gyrodata
10.13 Pacesetter Directional Drilling
10.14 Scientific Drilling
10.15 Tianhe Oil Group
10.16 Wenzel Downhole Tools
*Business Overview, Products Offered, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.
11 Appendix (Page No. - 116)
11.1 Insights of Industry Experts
11.2 Discussion Guide
11.3 Knowledge Store: Marketsandmarkets Subscription Portal
11.4 Introducing RT: Real-Time Market Intelligence
11.5 Available Customizations
11.6 Related Reports
11.7 Author Details
List of Tables (77 Tables)
Table 1 Drilling Tools Market Snapshot
Table 2 Investments in Renewable Energy, By Sector, 2015
Table 3 Global Market Size, By Application, 20152022 (USD Million)
Table 4 Onshore: Market Size, By Region, 20152022 (USD Million)
Table 5 Offshore: Market Size, By Region, 20152022 (USD Million)
Table 6 Global Market Size, By Type, 20152022 (USD Million)
Table 7 Drill Bits: Market Size, By Region, 20152022 (USD Million)
Table 8 Drill Collars: Market Size, By Region, 20152022 (USD Million)
Table 9 Drilling Jars: Market Size, By Region, 20152022 (USD Million)
Table 10 Drilling Motors: Market Size, By Region, 20152022 (USD Million)
Table 11 Drilling Tubulars: Market Size, By Region, 20152022 (USD Million)
Table 12 Drill Swivels: Market Size, By Region, 20152022 (USD Million)
Table 13 Drill Reamers & Stabilizers: Market Size, By Region, 20152022 (USD Million)
Table 14 Mechanical Thrusters: Market Size, By Region, 20152022 (USD Million)
Table 15 Shock Tools: Market Size, By Region, 20152022 (USD Million)
Table 16 Market Size, By Region, 20152022 (USD Million)
Table 17 North America: Market Size, By Application, 20152022 (USD Million)
Table 18 North America: Market Size, By Type, 20152022 (USD Million)
Table 19 North America: Market Size, By Country, 20152022 (USD Million)
Table 20 US: Market Size, By Application, 20152022 (USD Million)
Table 21 Canada: Market Size, By Application, 20152022 (USD Million)
Table 22 Mexico: Market Size, By Application, 20152022 (USD Million)
Table 23 Asia Pacific: Market Size, By Application, 20152022 (USD Million)
Table 24 Asia Pacific: Market Size, By Type, 20152022 (USD Million)
Table 25 Asia Pacific: Market Size, By Country, 20152022 (USD Million)
Table 26 China: Market Size, By Application, 20152022 (USD Million)
Table 27 India: Market Size, By Application, 20152022 (USD Million)
Table 28 Indonesia: Market Size, By Application, 20152022 (USD Million)
Table 29 Australia: Market Size, By Application, 20152022 (USD Million)
Table 30 Rest of Asia Pacific: Market Size, By Application, 20152022 (USD Million)
Table 31 Europe: Market Size, By Application, 20152022 (USD Million)
Table 32 Europe: Market Size, By Type, 20152022 (USD Million)
Table 33 Europe: Market Size, By Country, 20152022 (USD Million)
Table 34 Russia: Market Size, By Application, 20152022 (USD Million)
Table 35 UK: Market Size, By Application, 20152022 (USD Million)
Table 36 Norway: Market Size, By Application, 20152022 (USD Million)
Table 37 Poland: Market Size, By Application, 20152022 (USD Million)
Table 38 Denmark: Market Size, By Application, 20152022 (USD Thousand)
Table 39 Romania: Market Size, By Application, 20152022 (USD Million)
Table 40 Kazakhstan: Market Size, By Application, 20152022 (USD Million)
Table 41 Ukraine: Market Size, By Application, 20152022 (USD Million)
Table 42 Rest of Europe: Market Size, By Application, 20152022 (USD Million)
Table 43 Rest of Russian Caspian: Market Size, By Application, 20152022 (USD Million)
Table 44 South America: Market Size, By Application, 20152022 (USD Million)
Table 45 South America: Market Size, By Type, 20152022 (USD Million)
Table 46 South America: Market Size, By Country, 20152022 (USD Million)
Table 47 Brazil: Market Size, By Application, 20152022 (USD Million)
Table 48 Colombia: Market Size, By Application, 20152022 (USD Million)
Table 49 Argentina: Market Size, By Application, 20152022 (USD Million)
Table 50 Rest of South America: Market Size, By Application, 20152022 (USD Million)
Table 51 Middle East: Market Size, By Application, 20152022 (USD Million)
Table 52 Middle East: Market Size, By Type, 20152022 (USD Million)
Table 53 Middle East: Market Size, By Country, 20152022 (USD Million)
Table 54 Saudi Arabia: Market Size, By Application, 20152022 (USD Million)
Table 55 UAE: Market Size, By Application, 20152022 (USD Million)
Table 56 Oman: Market Size, By Application, 20152022 (USD Million)
Table 57 Iran: Market Size, By Application, 20152022 (USD Million)
Table 58 Rest of the Middle East: Market Size, By Application, 20152022 (USD Million)
Table 59 Africa: Market Size, By Application, 20152022 (USD Million)
Table 60 Africa: Market Size, By Type, 20152022 (USD Million)
Table 61 Africa: Market Size, By Country, 20152022 (USD Million)
Table 62 Algeria: Market Size, By Application, 20152022 (USD Million)
Table 63 Angola: Market Size, By Application, 20152022 (USD Million)
Table 64 Libya: Market Size, By Application, 20152022 (USD Million)
Table 65 Nigeria: Market Size, By Application, 20152022 (USD Million)
Table 66 Rest of Africa: Market Size, By Application, 20152022 (USD Million)
Table 67 Middle East: Market Share Analysis, 2016
Table 68 Asia Pacific: Market Share Analysis, 2016
Table 69 Europe: Market Share Analysis, 2016
Table 70 North America: Market Share Analysis, 2016
Table 71 South America: Market Share Analysis, 2016
Table 72 Africa: Market Share Analysis, 2016
Table 73 Market Developments From 2014 to 2017
Table 74 New Product Launches, 20142017
Table 75 Mergers & Acquisitions, 20142017
Table 76 Investments & Expansions, 20142017
Table 77 Contracts & Agreements/ Joint Ventures/Partnerships & Collaborations, 20142017
List of Figures (30 Figures)
Figure 1 Drilling Tools Market: Research Design
Figure 2 Bottom-Up Approach
Figure 3 Top-Down Approach
Figure 4 Data Triangulation Methodology
Figure 5 Assumptions of the Research Study
Figure 6 Market, By Region (Value), 2017
Figure 7 Market, By Application, 20172022 (USD Billion)
Figure 8 Drilling Tubulars to Dominate the Market Throughout the Forecast Period
Figure 9 Market, By Region, 20172022 (USD Billion)
Figure 10 Increased Drilling Activities to Drive the Market During the Forecast Period
Figure 11 The Onshore Segment is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 12 The Drilling Tubulars Segment is Expected to Dominate the Market, 2022
Figure 13 The Onshore & US Markets Held the Largest Shares in 2016
Figure 14 The US & China are Expected to Be the Fastest-Growing Markets During the Forecast Period
Figure 15 Market Dynamics for the Market
Figure 16 Natural Gas Production, By Resource Type, 20152040
Figure 17 Drill Pipe Lifecycle and Challenges Involved in Managing the Multiple Processes Required
Figure 18 Market: Value Chain Analysis
Figure 19 The Onshore Segment Accounted for the Largest Market Share in 2016
Figure 20 The Drilling Tubulars Segment is Expected to Dominate the Market in 2017 & 2022
Figure 21 Regional Snapshot (2016): Asia Pacific is Emerging as A New Hotspot for the Market
Figure 22 North America: Market Overview
Figure 23 Asia Pacific: Market Overview
Figure 24 Key Developments in the Market, 20142017
Figure 25 Schlumberger Led the Market for Drilling Tools in 2016
Figure 26 Baker Hughes: Company Snapshot
Figure 27 Halliburton: Company Snapshot
Figure 28 National Oilwell Varco: Company Snapshot
Figure 29 Schlumberger: Company Snapshot
Figure 30 Weatherford: Company Snapshot
Growth opportunities and latent adjacency in Drilling Tools Market