Drill Bit Market Overview by Investment Feasibility, Actionable Insights, Recent Trends & Development, Top Company Profiles & Forecast 2023

The recent report available at Orbis Research "Global Drill Bit Market" serves a comprehensive and extensive analysis towards the changing dynamics and advanced looking prospect on various factors driving or constraining industry development.

Dallas, United States - July 12, 2018 /MarketersMedia/ —

The drill bit market follows drilling activity across the globe. The drilling activity in 2017 improved with an increase of around 27% in quarterly active rig count compared to 2016. In 2018, the drilling activity is at its peak in the past three years supported by increasing crude oil price, which has already touched USD 70 per barrel market in April 2018. The United Kingdom Continental Shelf witnessed the end of the sharp reduction in investment; end of underinvestment in Brazil and Argentina with strong government support and robust drilling activity in North America is expected to help in the growth of drill bit market.

Request sample copy of Global Drill Bit Market at:
http://orbisresearch.com/contacts/request-sample/2210449

Roller Cone Bits accounts for the largest share among Types

In conventional oil & gas fields roller cone bits are used and hence accounted for the largest market share. However, with increasing exploitation of unconventional reserve such as shale in the United States, the demand for fixed cutter bits with higher efficiency has gained a lot of momentum as it offers higher durability and rate of penetration in shale reserve. Countries, such as Canada, Argentina, and China are expected to witness significant increase in drilling activity in their shale reserve and hence, increase the demand for fixed cone. Drill bit design has changed a lot in the past five years. Manufacturers are adding multidimensional cutter technologies, smaller moving parts to the fixed diamond cutters and other changes to make the drill bit smarter.

Read details of the report at:
http://www.orbisresearch.com/reports/index/global-drill-bit-market-segmented-by-type-and-geography-growth-trends-and-forecast-2018-2023

Recovery in South America’s Oil & Gas Industry is supporting the Market

Brazil and Argentina are important countries in South America’s oil & gas industry and accounts for 47% of rig count in the region. The new government in both the countries has made the oil & gas business more attractive, and the disinvestment scenario has come to an end. The Argentine government is planning to eliminate natural gas subsidies by 2022 and increase the prices for upstream producers, to attract sufficient investment in production. In Brazil, the new government has ended the monopoly of Petrobras over the countries prolific hydrocarbon resources and has opened the hydrocarbon reserves to foreign companies. The country is aiming for additional oil production capacity of around 2 MMb/d by 2027. The positive outlook for oil & gas industry in South America is expected to support the market.

United States is one of the Largest Markets for Drill Bit

The United States accounts for around 40% of the global drilling market and hence one of the largest markets for drill bit. The active rig count in the country has increased by 9% in the first four months of 2018. The decline in the breakeven price has been the major driver for the robust drilling activity in the country. Onshore drilling dominates the market in the country while offshore market has not witness much activity in the past few years. The offshore sector in the country is expected to pick up as the government has opened around 98% its coastal water for drilling in January 2018, which was earlier not allowed.

The major players include - Halliburton Company, Schlumberger Limited, National-Oilwell Varco, Inc., Sandvik AB, Rockpecker Limited, Baker Hughes A GE Co., Weatherford International plc, Landrill Oil Tools Co., Ltd., among others.

Reasons to Purchase this Report

Current and future drill bit market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identifying the latest developments, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report

This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs

Enquire more details of the report at:
http://orbisresearch.com/contact/purchase/2210449

About Us:

Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.

Contact Info:
Name: Hector Costello
Email: sales@orbisresearch.com
Organization: Orbis Research
Address: 4144N Central Expressway, Suite 600
Phone: +1 (214) 884-6817

Source URL: https://marketersmedia.com/drill-bit-market-overview-by-investment-feasibility-actionable-insights-recent-trends-development-top-company-profiles-forecast-2023/376705

For more information, please visit http://www.orbisresearch.com/reports/index/global-drill-bit-market-segmented-by-type-and-geography-growth-trends-and-forecast-2018-2023

Source: MarketersMedia

Release ID: 376705

More News From digitalpressnetwork.com

The Latest: Authorities ID 3 passengers killed in bus crash

Jul 18, 2018

ALBUQUERUQE, N.M. — The Latest on deadly New Mexico bus crash (all times local): 5:10 p.m. Authorities say the three people killed in a bus crash on a New Mexico highway over the weekend were all women from Mexico who were living in Colorado. State medical investigators confirmed the identities of the three bus passengers, and their names were released Wednesday by the Sandoval County Sheriff's Office. They were identified as 65-year-old Maria Delosangeles of Denver, 58-year-old Olga Hernandes de Grajeda of Rocky Ford and 70-year-old Maria Doleres Orrantia Camacho of Loveland. The crash happened early Sunday after the bus...

Thai boys recount cave rescue: Voices in dark, then 'hello'

Jul 18, 2018

CHIANG RAI, Thailand — Trapped in the recesses of a flooded cave, the 12 boys and their soccer coach were trying to dig their way out when they heard voices in the darkness. Their coach quickly told everyone to be quiet. "We weren't sure if it was for real," 14-year-old Adul Samon said. "So we stopped and listened. And it turned out to be true. I was shocked." That stunning moment when two British divers found the missing soccer team was recounted by the boys Wednesday at their first news conference since the rescue that riveted the world. They all...

Growing fire shows potential for explosive Northwest season

Jul 18, 2018

PORTLAND, Ore. — A fast-moving fire fueled by gusting winds in the Pacific Northwest has forced dozens of households to evacuate and prompted Oregon Gov. Kate Brown to declare an emergency Wednesday. The flames near the city of The Dalles started Tuesday and expanded overnight to more than 45 square miles (117 kilometers), chewing through fields of wheat in farm country and bringing back memories of a devastating wildfire last summer that devastated a scenic area further west in the Columbia River Gorge. The blaze about 80 miles (130 kilometers) east of Portland doesn't bode well for a Pacific Northwest...

Poison parsnip causes severe burns, blisters on woman's legs

Jul 18, 2018

ESSEX, Vt. — A woman was left with severe burns and blisters on her legs after encountering an invasive species of plant in Vermont. Charlotte Murphy says she developed painful blisters overnight after brushing against poison parsnip. Murphy says the blisters got so bad she had to go to the hospital to see a burn specialist. The Essex woman learned her injuries were comparable to second-degree burns and were caused by the invasive plant. David Grass of the Vermont Department of Health says the sap in the parsnip has a chemical reaction with the sun that causes accelerated burns. He...

LPGA's Lincicome prepares to chase history on PGA Tour

Jul 18, 2018

NICHOLASVILLE, Ky. — Brittany Lincicome has every reason to be nervous as she chases golf history. The eight-time LPGA Tour winner hopes to knock out the jitters over first few holes at the PGA Tour's Barbasol Championship and play well enough from there to stick around through the weekend. If she were to make the cut, Lincicome would achieve something no woman has done against male competitors. The list of players who've tried includes greats such as Babe Zaharias and Annika Sorenstam. Lincicome knows what she's up against. If she earns a Saturday tee time, she knows what it will...

Weather, 20 December
Houston Weather
+7

High: +11° Low: -2°

Humidity: 83%

Wind: NNE - 7 KPH

Canberra Weather
+27

High: +27° Low: +17°

Humidity: 87%

Wind: W - 20 KPH

Roissy-en-France Weather
+6

High: +6° Low: -5°

Humidity: 87%

Wind: ENE - 7 KPH

Florence Weather
+9

High: +9° Low: +6°

Humidity: 97%

Wind: ENE - 17 KPH

Parga Weather
+7

High: +16° Low: +4°

Humidity: 100%

Wind: SE - 25 KPH