PDC Drill Bits Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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PDC Drill Bits Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : October, 2020 | Energy & Mining | PPT format

Report Digest


Global PDC Drill Bits Market: Overview

The global polycrystalline diamond compact (PDC) drill bits market is envisaged to achieve growth as oil and gas activities see a rise across the world. Over a span of recent years, there has been a drastic change observed in PDC bit technology. This could be due to improved knowledge about how drilling vibrations impact productivity. In fact, in the first place, drilling vibrations have been researched in great detail so that manufacturers could make necessary changes in their PDC drill bit design to increase productivity. This could also help manufacturers to design bits that resist high impact forces causing damage to the structure during the cutting procedure.

There are certain factors considered before designing and using PDC drill bits – operating conditions and practices, bit classification, bit economics, bit hydraulics, PDC bit configurations, PDC bit profile, and PDC bit design principles. Proper understanding of these factors could help manufacturers as well as end users to make the best use of PDC drill bits.

Global PDC Drill Bits Market: Trends and Opportunities

Two types of PDC drill bits are expected to showcase their prominence in the global market. However, one of them could slightly gain larger demand in the near term. Matrix body PDC drill bits are foreseen to step ahead of steel body PDC drill bits in terms of market share. End users could be chiefly attracted to different advantages that set matrix body apart from other types of PDC drill bits. For instance, end users could use matrix body PDC drill bits to drill formations ranging from medium-hard to hard. Moreover, they are said to hold out against impact loads.

PDC cutters are available in various sizes in the world PDC drill bits market, i.e. above 24 mm, 15-24 mm, 9-14 mm, and below 9 mm. However, the market is predicted to witness a stronger share secured by PDC cutters sized 15-24 mm as they exhibit a higher rate of penetration (ROP).

Global PDC Drill Bits Market: Market Potential

Schlumberger and Subsea 7’s intent to enter into a joint venture could be a classic example of merger and acquisition considered as a go-to strategy in the world PDC drill bits market. Announced in February 2018, the venture is expected to add to the execution, design, and front end engineering of integrated projects. This could be for increasing total production, improving customer efficiency, and reducing total cost of ownership (TCO) all through the course of the asset lifecycle.

Global PDC Drill Bits Market: Regional Outlook

The international PDC drill bits market is prophesied to find North America taking the driver’s seat as it attains massive growth in the foreseeable future. The U.S. in particular could mainly contribute to North America with its faster-growing and larger country-wise market. Oil and gas activities and latest developments observed in the industry are projected to set the tone for significant growth in the region. These developments are not only taken notice of in the U.S. but also Canada and Mexico. The regional market is also forecasted to take advantage of the rise in shale gas production and exploration in North America.

Global PDC Drill Bits Market: Competitive Landscape

In order to accelerate the process of designing PDC drill bits, manufacturers are envisioned to use 3D modeling design tools such as computer-aided design (CAD). Furthermore, for reducing erosion in the body of PDC drill bits and optimizing hydraulics, they could use computational fluid dynamics (CFD). Use of advanced tools helps manufacturers to produce new designs in a shorter period of time. Leading players, viz. Halliburton, BHGE, and Schlumberger are making their presence known in the international PDC drill bits market.

Global PDC Drill Bits Market by Type

  • Matrix Body
  • Steel Body

Global PDC Drill Bits Market by PDC Cutter

  • Below 9 mm
  • 9-14 mm
  • 15-24 mm
  • Above 24 mm

Global PDC Drill Bits Market by Number of Blades

  • 6-10
  • Less than 6
  • Above 10

Global PDC Drill Bits Market by Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Asia Pacific
    • China
    • Thailand
    • India
    • Indonesia
    • Rest of Asia Pacific
  • Europe
    • Russia
    • U.K.
    • Norway
    • Rest of Europe
  • South America
    • Argentina
    • Venezuela
    • Brazil
    • Rest of South America
  • Middle East
    • Oman
    • Saudi Arabia
    • U.A.E.
    • Iran
    • Rest of Middle East
  • Africa
    • Egypt
    • Algeria
    • Angola
    • Nigeria
    • Rest of Africa

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?