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

  • Single User License $3500

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

Status : November, 2021 | Energy & Mining

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

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?