Ontario, CA -- (SBWIRE) -- 03/30/2020 -- Drill bits are mechanical tools used for cutting or crushing rocks to create wellbores for the extraction of hydrocarbon resources. They are mainly used in drilling operations for oil or gas wells either onshore or offshore.

Due to their specific custom design properties and the introduction of new technologies in components and material strength design, the fixed cutter segment accounted for the major shares and dominated the market. According to this market research report, this segment will continue to dominate the market during the next few years as well.

This market research and analysis estimates that the onshore activities segment accounted for the major revenue shares and dominated the market. The rise in demand for energy which consequently resulted in increased drilling activities by major oil and gas companies will drive market growth in this segment in the coming years.

The global oil and gas drill bits market stood at 3.3 billion in 2018 and is projected to grow at a CAGR of 6.11% during 2019-2025.

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Segment by Key players:
- Baker Hughes
- Halliburton
- National Oilwell Varco
- Schlumberger
- Varel International
- Atlas Copco AB
- Bellwether Resources International
- Bit Brokers International
- Century Products
- Drillbits International (DBI)
- Drilformance

Segment by Type:
- Fixed Cutter
- Roller Cone
- Other

Segment by Application:
- Onshore
- Offshore

Segment by Regions:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa

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Table of Content:

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. GAS AND OIL DRILL BITS Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. GAS AND OIL DRILL BITS Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. GAS AND OIL DRILL BITS Market - Supply Chain
4.5. Global GAS AND OIL DRILL BITS Market Forecast
4.5.1. GAS AND OIL DRILL BITS Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. GAS AND OIL DRILL BITS Market Size (000' Units) and Y-o-Y Growth
4.5.3. GAS AND OIL DRILL BITS Market Absolute $ Opportunity

5. Global GAS AND OIL DRILL BITS Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. GAS AND OIL DRILL BITS Market Size and Volume Forecast by Type
5.3.1. Fabricated Frame
5.3.2. Tube and Coupler
5.3.3. Mobile
5.3.4. Pole
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global GAS AND OIL DRILL BITS Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. GAS AND OIL DRILL BITS Market Size and Volume Forecast by Application
6.3.1. Personal Decoration
6.3.2. Commercial Decoration
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global GAS AND OIL DRILL BITS Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. GAS AND OIL DRILL BITS Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global GAS AND OIL DRILL BITS Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. GAS AND OIL DRILL BITS Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global GAS AND OIL DRILL BITS Demand Share Forecast, 2019-2029

Continued……

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