Sun, 19 Sep 2021


The new report by EMR titled, 'Global PDC Drill Bits Market Report and Forecast 2021-2026', gives an in-depth analysis of the global PDC drill bits market, assessing the market based on its segments like type, size, number of blades, application, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.

Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Get a Free Sample Report with Table of Contents-https://www.expertmarketresearch.com/reports/pdc-drill-bits-market/requestsample

The key highlights of the report include:

Market Overview (2021-2026)

  • Historical Market Size (2020): USD 4.1 Billion
  • Forecast CAGR (2021-2026): 4%
  • Forecast Market Size (2026): USD 5.07 Billion

The global PDC drill bit market is driven by the growing demand for natural oil and gas. Increasing oil exploration to meet the growing global demand is expected to propel the market for PDC drill bit. Additionally, the preference of PDC drill bits over other material due to its better efficiency and lower wear and tear will further catalyse the growth in the forecast period. Moreover, the increasing investments and technological advancements in oil and gas sector will aid in the growth of global PDC drill market.

Industry Definition and Major Segments

Read Full Report with Table of Contents -https://www.expertmarketresearch.com/reports/pdc-drill-bits-market

PDC (Polycrystalline Diamond Compact) drill bits are composed of diamond infused tungsten carbide substrate. It is used in drilling for oil exploration. The drilling apparatus is mainly dependent on four different entities in the drill viz., cutters, cutting structure, blades, and bit body.

The PDC drill bits industry can be segmented by type into:

  • Matrix Body
  • Steel Body

The market can be differentiated on the basis of the size of the PDC cutter as:

  • Less Than 9 mm
  • 9 mm to 24 mm
  • Above 24 mm

The market can be segmented on the basis of number of blades into:

  • Less Than 6
  • 6-10
  • Above 10

It may be divided on the basis of application into:

  • Onshore
  • Offshore

The regional markets for PDC drill bits include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

Regionally, North America is the largest shareholder in the global PDC drill bit market. This can be attributes to discovery of shale oil in USA. Moreover, increasing oil search mission carried out by USA along with advance assisting technology for searching oil fields, area expected to aid the growth of regional PDC drill bit market. Meanwhile Middle East and Africa are expected to have a rapid growth due to presence of major oil fields. Moreover, recent discoveries of offshore oilfields will propel the demand for PDC drill bits in the forecast period.

Key Market Players

The major players in the market are Baker Hughes Company, NOV Inc., Xi'am Landrill Oil Tools Co. Ltd., Rockpecker Limited, Schlumberger Limited, and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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