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

Spurs rally to keep Lakers winless with LeBron, 143-142

Oct 23, 2018

LOS ANGELES — LeBron James hit the tying 3-pointer late in regulation. He led a Lakers lineup of three second-year pros and a rookie making his NBA debut to a 142-136 lead with 55 seconds left overtime. James was then reminded in spectacular fashion that nothing will be easy in this West Coast chapter of his career. Patty Mills hit a go-ahead jumper with 6.8 seconds left and the San Antonio Spurs kept the Lakers winless with LeBron, rallying from a six-point deficit in the final minute of OT for a wild 143-142 victory Monday night. James tied it on...

Twitter removes accounts linked to Alex Jones, Infowars

Oct 23, 2018

Twitter has removed some accounts thought to be used to circumvent a ban on conspiracy-monger Alex Jones and Infowars, the company said Tuesday. A Twitter spokesman confirmed that the accounts had been removed but provided no additional comment. The company says it usually does not discuss specific accounts. Twitter permanently suspended @realalexjones and @infowars from Twitter and Periscope in early September. It said it based that action in reports of tweets and videos that violated its policy against abusive behavior. The company said it would continue to evaluate reports regarding other accounts potentially associated with @realalexjones or @infowars and would...

Cuomo, Molinaro to spar in NY gov race's only planned debate

Oct 23, 2018

NEW YORK — New Yorkers may get their only chance Tuesday to see Democratic Gov. Andrew Cuomo debate Republican challenger Marc Molinaro before next month's election. Cuomo, a Democrat seeking a third term, will spar with Molinaro, the Dutchess County executive, Tuesday afternoon at the CBS Broadcast Center in Manhattan. The exchange will be webcast and televised at 7 p.m. on several CBS affiliates. Upstate viewers should check their local schedules for times. Cuomo is far ahead in the polls and in fundraising, and until this weekend showed little interest in debating his lesser-known Republican challenger. He has sought to...

Trump: 'I'm not satisfied' with accounts of Khashoggi death

Oct 23, 2018

WASHINGTON — President Donald Trump said Monday he's not satisfied with the explanations he's heard about the death of Saudi writer Jamal Khashoggi and is awaiting reports from U.S. personnel returning from the region. Khashoggi, who lived in the United States and wrote critically about the Saudi royal family, died earlier this month at the Saudi Consulate in Istanbul. Saudi Arabia said he was killed in a fistfight, but Turkish officials said the 59-year-old Washington Post columnist was attacked and killed by a 15-man Saudi team. Asked if he believed Saudi Arabia's explanation, Trump said, "I am not satisfied with...

Leonard helps Raptors rout Hornets

Oct 23, 2018

TORONTO — Kawhi Leonard scored 22 points, Kyle Lowry had 16 points and a season-high 14 assists, and Toronto never trailed in a 127-106 victory over the Charlotte Hornets on Monday night, the Raptors' fourth straight win to open the season. Jonas Valanciunas scored 17 points, Danny Green had 16, and Serge Ibaka added 15 as the Raptors won for the ninth time in 11 meetings with the Hornets. Toronto is the first NBA team to reach four wins. Denver (3-0) can match the Raptors when it hosts Sacramento on Tuesday. Leonard returned after sitting out Saturday night's road win...

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