Boston, MA -- (SBWIRE) -- 03/09/2017 -- 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.

Technavio's analysts forecast the global drilling bits market in oil and gas to grow at a CAGR of 4.75% during the period 2017-2021.

Covered in this report
The report covers the present scenario and the growth prospects of the global drilling bits market in oil and gas for 2017-2021. To calculate the market size, the report considers the revenues that are generated from the sale of drill bit products in the oil and gas exploration market.

The market is divided into the following segments based on geography:

-Americas
-APAC
-EMEA

Technavio's report, Global Drilling Bits Market in Oil and Gas 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Get More Details on this Report and a Full Table of Contents at Global Drilling Bits Market in Oil and Gas 2017-2021

Key vendors

-Baker Hughes
-Halliburton
-National Oilwell Varco
-Schlumberger
-Varel International

Other prominent vendors

-Atlas Copco AB
-Bellwether Resources International
-Bit Brokers International
-Century Products
-DRILLBITS International (DBI)
-Drilformance
-Drill King International
-Drilling Products (DPI)
-Harvest Tool Company
-Hole Products
-Kay Rock Bit Company
-Master Oil Tool
-Nile Petroleum Industrial Company (NPICO)
-OTS International
-PDB Tools

Market driver

-Migration of drilling into unconventional areas
-For a full, detailed list, view our report

Market challenge

-Declining investments in oil and gas industry
-For a full, detailed list, view our report

Market trend

-Integration of drill bits in bottom-hole assemblies
-For a full, detailed list, view our report

Key questions answered in this report

-What will the market size be in 2021 and what will the growth rate be?
-What are the key market trends?
-What is driving this market?
-What are the challenges to market growth?
-Who are the key vendors in this market space?
-What are the market opportunities and threats faced by the key vendors?
-What are the strengths and weaknesses of the key vendors?

You can request one free hour of our analyst's time when you purchase this market report. Details are provided within the report.

Companies Mentioned in this Report: Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, Varel International, Atlas Copco AB, Bellwether Resources International, Bit Brokers International, Century Products, DRILLBITS International (DBI), Drilformance, Drill King International, Drilling Products (DPI), Harvest Tool Company, Hole Products, Kay Rock Bit Company, Master Oil Tool, Nile Petroleum Industrial Company (NPICO), OTS International, PDB Tools

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