Boring Tools Market-New Research Report Announced with business priorities in order to assist companies to realign their business strategies.
City of Industry, CA -- (SBWIRE) -- 07/13/2018 -- This report studies the Boring Tools market size (value and volume) by players, regions, product types and end industries, history data 2013-2017 and forecast data 2018-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
In machining, boring is the process of enlarging a hole that has already been drilled (or cast) by means of a single-point cutting tool (or of a boring head containing several such tools), such as in boring a gun barrel or an engine cylinder. Boring is used to achieve greater accuracy of the diameter of a hole, and can be used to cut a tapered hole. Boring can be viewed as the internal-diameter counterpart to turning, which cuts external diameters.
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Onshore segment is expected to be the largest market for drilling tools, by application, in 2017. Approximately 70% of the total oil and gas production in the world takes places at onshore fields. These fields are easier to operate from an exploration perspective and require less capital investment as compared to offshore fields. Formations in onshore wells are more stable during the drilling process than those in offshore. Market demand for drilling tools from onshore segment is also the fastest-growing. US and China with vast onshore reserves present ample market opportunities in this onshore segment.
North America is expected to be the largest and the fastest-growing market, by region, during the forecast period. Increasing shale gas production and energy reforms of respective countries would drive the growth of the drilling tools in the region. Asia Pacific is expected to be the second fastest-growing market for drilling tools.
The global Boring Tools market was xx million US$ in 2017 and is expected to xx million US$ by the end of 2025, growing at a CAGR of xx% between 2018 and 2025.
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Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Boring Tools in these regions, from 2013 to 2025, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil etc.)
Middle East and Africa (Egypt and GCC Countries)
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in this market include
By the product type, the market is primarily split into
Drill Reamers and Stabilizers
By the end users/application, this report covers the following segments