Drilling Tools Market To Reach USD 2.23 Billion In 2024 | CAGR 4.7% - Forencis Research

Drilling Tools Market Size, Share, Trends, Growth, Analysis, Research

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 deepwater oil and gas fields is expected to become an opportunity for oil & gas drilling tools market.

Driiling 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 drillings 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 global 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

*Provided for top 10 companies. Subject to availability in public domain.

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.

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”. 


Key Questions answered by the report

  • What are the major developments impacting the global Market and its growth?
  • What will be the effects of the developments in the global Market on the industry and on the market players in the near and far future?
  • What are the evolving types of the global Market?
  • What are the evolving applications of global Market?
  • What are the major characteristics that will affect the global Market growth during the study period?
  • Who are the key players operating in the global Market?

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


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Rep Id : EP 019

Published : 2019-11-26