Drilling Tools Market by Type ( Drill Bit, Drilling Tubulars, Drilling Collars, Drill Swivel, Drill Stabilizers and Reamers, Drill Jars, Mud Motors), by Application (Onshore, Offshore), by Region (Asia-Pacific, North America, Europe, Middle East & South America) – Global Forecast From 2019 To 2024

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Drilling Tools Market: Summary

The Global Oil & Gas Drilling Tools Market is estimated to reach USD 2.23 Billion in 2024 at a CAGR of 4.7%. Increase in shale gas exploration and increasing technological capabilities of drillers is expected to drive the oil & gas drilling tools market during the forecast period. However, high maintenance cost , highly volatile oil prices, and stringent government regulations against offshore drilling activities is expected to restrain the market during the forecast period. Development of deep-water oil and gas fields is expected to become an opportunity for oil & gas drilling tools market.

Drill is an instrument with an edged or pointed end used for making holes in hard substances. Equipments which are used in drilling process are known as drilling tools. Drilling tools are very useful to empower you to carry out an intense job with much ease and comfort . It is frequently used in household applications, factories , workshops as well as industries. Some key players of drilling tools market are Schlumberger, Halliburton, Weatherford, Baker Hughes, and National Oilwell Varco among others.Drilling Tools Market

Drilling Tools Market: Report Synopsis

This market research report offers a comprehensive analysis of key market trends in the global oil & gas drilling tools market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks. Based on type, the drilling tools market can be segmented into drill bit, drilling tubulars, drilling collars, drill swivel, drill stabilizers and reamers, drill jars, mud motors, mechanical thrusters, and others. The segmentation by Application includes onshore and offshore. The regional analysis is covered under five major regions such as North America, South America, Europe, Asia-Pacific, and the Middle East and Africa, with individual country-level analysis.

Drilling Tools Market: Report Scope

The report on the oil & gas drilling tools market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features


Historical/Estimated/Forecasted Market Size Years


Base Year for Market Calculation


Forecasted Period

2019-2024 (2019 estimated year, forecasted up to 2024)

Measured Units

Value (USD Million)

Segments Included

Type, Application and Region

Regional Coverage

Asia-Pacific, North America, Europe, Middle East, South America

Companies Covered

  • Schlumberger (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Halliburton
  • Weatherford
  • Baker Hughes
  • Dynomax Drilling Tools Inc.
  • Other Key Companies

Drilling Tools Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Oil & Gas Drilling Tools Market by Type

  • Drill Bit
  • Drilling Tubulars
  • Drilling Collars
  • Drill Swivel
  • Drill Stabilizers and Reamers
  • Drill Jars
  • Mud Motors
  • Mechanicial Thrusters
  • Others

Oil & Gas Drilling Tools Market, by Application

  • Onshore
  • Offshore

Oil & Gas Drilling Tools Market by Region

  • Asia-Pacific
    • China
    • Indonesia
    • India
    • Malaysia
    • Australia
    • Rest of Asia-Pacific
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Norway
    • UK
    • Netherlands
    • Polland
    • Russia
    • Denmark
    • Rest of Europe
  • Middle East
    • Saudi Arabia
    • Iran
    • UAE
    • Rest of Middle East
  • South America
    • Brazil
    • Argentina
    • Venezuela
    • Rest of South America

Key Questions answered by the report

  • What are the major developments impacting the oil & gas drilling tools market and its growth?
  • What will be the effects of the developments in the oil & gas drilling tools market on the industry and on the market players in the near and far future?
  • What are the evolving types of the oil & gas drilling tools market?
  • What are the evolving applications of oil & gas drilling tools market?
  • What are the major characteristics that will affect the oil & gas drilling tools market growth during the study period?
  • Who are the key players operating in the oil & gas drilling tools market?
  • How are the major players leveraging in the existing market conditions?

Report Audience

  • Oil & Gas Drilling Tools Market Providers
  • Oil & Gas Drilling Tools Market Solution and Services Suppliers, Distributors and Dealers
  • End-Users of Varied Segments of Oil & Gas Drilling Tools Market
  • Government Bodies and Intellectual Institutions
  • Associations and Industrial Organizations
  • Research & Consulting Service Providers
  • Research & Development Organizations
  • Investment Banks & Private Equity Firms



1.1       Research Objectives

1.2       Market Definition

1.3       Research Scope

1.4       Regional Coverage

1.5       Research Timeline

1.6       Assumptions

1.7       Limitations


2.1       Introduction

2.2       Primary Research

                                  2.2.1    Key Industry Expert Insight

2.3       Secondary Research

                                  2.3.1    Vital Data from Secondary Sources

2.4       Market Size Estimation

2.5       Data Validation & Triangulation



4.1       Introduction

4.2       Drivers

                                 4.2.1.    Increase in Shale Gas Exploration

                                 4.2.2.    Increasing Technological Capabilities of Drillers

4.3       Restraints

                                  4.3.1    High Maintenance Cost

                                  4.3.2    Highly Volatile Crude Oil Prices

                                  4.3.3    Stringent Government Regulations Against Offshore Drilling Activities

4.4       Opportunities

                                  4.4.1    Development of Deepwater Oil & Gas Fields

                                  4.4.2    Increasing Investments by Companies to Explore New Oil & Gas Reservoirs

4.5       Challenges

                                  4.5.1    High Cost of Drilling Tools for Offshore Applications


5.1       Introduction

                                 5.1.1.    Power of Buyers

                                 5.1.2.    Power of Suppliers

                                 5.1.3.    Intensity of Competition

                                 5.1.4.    Challenges of Substitutes

                                 5.1.5.    Challenges of New Entrants

5.2       Macro-Economic Indicators

6       OIL & GAS DRILLING TOOLS MARKET BY TYPE, Market Size in USD Million (2017—2024)

6.1       Introduction

6.2       Drill Bit

6.3       Drilling Tubulars

6.4       Drilling Collars

6.5       Drill Swivel

6.6       Drill Stabilizers and Reamers

6.7       Drill Jars

6.8       Mud Motors

6.9       Mechanical Thrusters

6.10     Others

7       OIL & GAS DRILLING TOOLS MARKET BY APPLICATION, Market Size in USD Million (2017—2024)

7.1       Introduction

7.2       Onshore

7.3       Offshore

8       OIL & GAS DRILLING TOOLS MARKET BY REGION, Market Size in USD Million (2017—2024)

8.1       North America

                                 8.1.1.    US

                                 8.1.2.    Canada

                                 8.1.3.    Mexico

8.2       Europe

                                 8.2.1.    Norway

                                 8.2.2.    UK

                                 8.2.3.    Netherlands

                                 8.2.4.    Poland

                                 8.2.5.    Russia

                                 8.2.6.    Denmark

                                 8.2.7.    Rest of Europe

8.3       Asia-Pacific

                                 8.3.1.    China

                                 8.3.2.    Indonesia

                                 8.3.3.    India

                                 8.3.4.    Malaysia

                                 8.3.5.    Australia

                                 8.3.6.    Rest of Asia-Pacific

8.4       Middle East

                                 8.4.1.    Saudi Arabia

                                 8.4.2.    Iran

                                 8.4.3.    UAE

                                 8.4.4.    Rest of Middle East

8.5       South America

                                 8.5.1.    Brazil

                                 8.5.2.    Argentina

                                 8.5.3.    Venezuela

                                 8.5.4.    Rest of South America


9.1       Introduction

9.2       Market Ranking/Share Analysis of Key Companies

9.3       Company Benchmarking


10.1     Schlumberger

                                10.1.1    Company Overview

                                10.1.2    Financial Overview

                                10.1.3    Products/Solutions/Services Offered

                                10.1.4    Key Developments

                                10.1.5    SWOT Analysis

10.2     Halliburton

10.3     Weatherford

10.4     Baker Hughes

10.5     National Oilwell Varco




10.9     Dynomax Drilling Tools Inc.

10.10  Others


11.1     Key Industry Expert Insights

11.2     Primary Discussion Guide

11.3     Customization Options

Note1: Tentative table of contents, may get updated during the course of research.

Note2: Company financial information is subject to availability in public domain




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Research Design

Forencis Research follows robust and deep dive research methodologies to deliver accurate – current, estimated and forecasted market data. Our extensive primary and secondary research help in deriving reliable qualitative and quantitative data to provide verified market insights. Our research team tracks historic trends, existing and recent market dynamics, growth prospects, competitor landscape, and the entire value chain dynamics to attain reliable industry facts to reach accurate market estimates. Primary research is conducted through thorough interviews and detailed surveys with the Key Industry Experts and related participants across the value chain. Secondary research entails acquiring data through paid and reliable databases such as annual reports, SEC filings, research publications, association publications, investor presentations, white papers and other sources. All the above-obtained information is further processed and collated with our existing database prior to its presentation in our publications.

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Key Questions Answered by the Report

  • Major factors impacting the market and its growth
  • Evolving Types of the various products in the Market
  • Evolving Application of the various products in the Market
  • Growing countries in the Global Market
  • Effects of the developments in the market on the industry and on the market players
  • Key market developments undertaken by the leading players

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