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Home / Machinery and Equipment / Covid-19 Impact on Oilfield Drill Bits Market, Global Research Reports 2020-2021

Covid-19 Impact on Oilfield Drill Bits Market, Global Research Reports 2020-2021

Published: Jun 2020 Total Pages: 97 | Published By: QYResearch Group

Oilfield drill bits are important tools used in the drilling of boreholes in the exploration of oil and gas activities. The drill bits are selected depending on the type of formation that is being drilled. Drill bits produce drill cuttings which can be removed later using drilling mud. Irrespective of type of drill bit, these bits need to suffice two main conditions that include maximizing the formations rate of penetration (ROP) while providing a long and sturdy service life.

The major factors propelling the growth of this market include increasing demand for crude oil and natural gas from countries globally.


This report provides a complete quantitative data and qualitative analysis on the global market for Oilfield Drill Bits. Market size is analysed by country, product type, application, and competitors. Expanded coverage includes additional end-user industry breakdowns and in-depth producer profiles.

Prior to COVID-19, the global market for Oilfield Drill Bits was anticipated to grow from US$ XX million in 2020 to US$ XX million by 2026; it is expected to grow at a CAGR of xx% during 2021–2026, whereas post-COVID-19 scenario, the market for Oilfield Drill Bits is projected to grow from US$ XX million in 2020 (a change by ~XX% compared to market estimated for 2020 before the outbreak of COVID-19) to US$ XX billion by 2026; it is expected to grow at a CAGR of XX% during 2021–2026.

This report covers market size and forecasts of Oilfield Drill Bits, including the following market information:

Global Oilfield Drill Bits Market Size, 2019-2021, and 2020 (quarterly data), (US$ Million) & (Units)

Global Oilfield Drill Bits Market Size by Type and by Application, 2019-2021, and 2020 (quarterly data), (US$ Million) & (Units)

Global Oilfield Drill Bits Market Size by Region (and Key Countries), 2019-2021, and 2020 (quarterly data), (US$ Million) & (Units)

Global Oilfield Drill Bits Market Size by Company, 2019- 2020 (quarterly data), (US$ Million) & (Units)

Key market players

Major competitors identified in this market include GE(Baker Hughes), Drill Master Inc., Schlumberger, Halliburton Inc., National Oilwell Varco Inc, Ulterra Drilling Technologies, Atlas Copco AB, Scientific Drilling International Inc, etc.

Based on the Region:

Asia-Pacific (China, Japan, South Korea, India and ASEAN)

North America (US and Canada)

Europe (Germany, France, UK and Italy)

Rest of World (Latin America, Middle East & Africa)

Based on the Type:

Roller Cone Bits

Fixed Cutter Bits

Based on the Application:

Onshore

Offshore

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