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PDC Drill Bits Market

Global PDC Drill Bits Market Growth, Trends, Analysis: By Type: Matrix Body, Steel Body; By Size of PDC Cutter: Less Than 9 mm, 9 mm to 24 mm, Above 24 mm; By Number of Blades: Less Than 6, 6–10, Above 10; By Application: Onshore, Offshore; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Global PDC Drill Bits Market Outlook

The global PDC drill bits market reached a value of about USD 4.61 billion in 2023. The industry is further expected to grow at a CAGR of about 3.7% in the forecast period of 2024-2032 to reach a value of around USD 6.41 billion by 2032.

 

Global PDC Drill Bits Market

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Latin America Expected to Grow Fastest in the Forecast Period

In order to explore oil and gas reserves, PDC drills are required to excavate the region. Currently, North America has the highest share in the PDC drills because of a high number of oil and natural gas exploratory missions, combined with readily available technology for the same. These companies also require considerable financial assistance which is made available through large investments. In the forecast period, the market for PDC drills is expected to rise with a high rate in the Latin American sector because of the presence of rich oil and natural gas reserves. Overall, since the demand for oil and natural gas is increasing, the market for PDC drills is expected to grow both in terms of growth rate and value.

 

PDC Drill Bits: Market Segmentation

PDC drill bits are drilling tools used primarily in the field of drilling in oil exploration. PDC – Polycrystalline Diamond Compact – is a tough material which has a synthetic diamond fused to a stout shoulder for appropriate impact, since diamond is the hardest material. The stout shoulder is made from a tungsten carbide substrate, which is also a tough substance. The drilling apparatus is mainly dependent on four different entities in the drill viz., cutters, cutting structure, blades, and bit body.

 

Global PDC Drill Bits Market By Size Of PDC Cutter

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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 can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global PDC Drill Bits Market By Region

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Increasing Exploratory Missions Bolstering the Market Growth

PDC drill bits are required for oil and natural gas exploratory missions and as the demand for oil and natural gas grows, the number of such exploratory missions is also bound to increase, which, in turn, is expected to increase the demand for these drill bits. Since PDC drill bits are relatively more efficient than other materials used in exploratory missions, they are preferred over other conventional apparatuses. Despite government regulations about environmental damages in oil and natural gas exploration, the industry is expected to grow because of increasing investments and technological advancements in the complementary tools required alongside PDC drill bits.

 

Key Industry Players in the Global PDC Drill Bits Market

The report gives a detailed analysis of the following key players in the global PDC drill bits market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Baker Hughes Company
  • NOV Inc.
  • Xi’am Landrill Oil Tools Co. Ltd.
  • Rockpecker Limited
  • Schlumberger Limited
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Size of PDC Cutter
  • Number of Blades
  • Application
  • Region
Breakup by Type
  • Matrix Body
  • Steel Body
Breakup by Size of PDC Cutter
  • Less Than 9 mm
  • 9 mm to 24 mm
  • Above 24 mm
Breakup by Number of Blades
  • Less Than 6
  • 6–10
  • Above 10
Breakup by Application
  • Onshore
  • Offshore
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Baker Hughes Company
  • NOV Inc.
  • Xi’am Landrill Oil Tools Co. Ltd
  • Rockpecker Limited
  • Schlumberger Limited
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global PDC Drill Bits Market Analysis

    8.1    Key Industry Highlights
    8.2    Global PDC Drill Bits Historical Market (2018-2023) 
    8.3    Global PDC Drill Bits Market Forecast (2024-2032)
    8.4    Global PDC Drill Bits Market by Type
        8.4.1    Matrix Body
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Steel Body
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global PDC Drill Bits Market by Size of PDC Cutter
        8.5.1    Less Than 9 mm
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    9 mm to 24 mm
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Above 24 mm 
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
    8.6    Global PDC Drill Bits Market by Number of Blades
        8.6.1    Less Than 6
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    6–10
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Above 10
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
    8.7    Global PDC Drill Bits Market by Application
        8.7.1    Onshore
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Offshore
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
    8.8    Global PDC Drill Bits Market by Region       
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032) 
9    North America PDC Drill Bits Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe PDC Drill Bits Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific PDC Drill Bits Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America PDC Drill Bits Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa PDC Drill Bits Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Baker Hughes Company
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    NOV Inc.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Xi’am Landrill Oil Tools Co. Ltd
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Rockpecker Limited
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Schlumberger Limited
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global PDC Drill Bits Market: Key Industry Highlights, 2018 and 2032
2.    Global PDC Drill Bits Historical Market: Breakup by Type (USD Million), 2018-2023
3.    Global PDC Drill Bits Market Forecast: Breakup by Type (USD Million), 2024-2032
4.    Global PDC Drill Bits Historical Market: Breakup by Size of PDC Cutter (USD Million), 2018-2023
5.    Global PDC Drill Bits Market Forecast: Breakup by Size of PDC Cutter (USD Million), 2024-2032
6.    Global PDC Drill Bits Historical Market: Breakup by Application (USD Million), 2018-2023
7.    Global PDC Drill Bits Market Forecast: Breakup by Application (USD Million), 2024-2032
8.    Global PDC Drill Bits Historical Market: Breakup by Number of Blades (USD Million), 2018-2023
9.    Global PDC Drill Bits Market Forecast: Breakup by Number of Blades (USD Million), 2024-2032
10.    Global PDC Drill Bits Historical Market: Breakup by Region (USD Million), 2018-2023
11.    Global PDC Drill Bits Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    North America PDC Drill Bits Historical Market: Breakup by Country (USD Million), 2018-2023
13.    North America PDC Drill Bits Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Europe PDC Drill Bits Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Europe PDC Drill Bits Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Asia Pacific PDC Drill Bits Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Asia Pacific PDC Drill Bits Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Latin America PDC Drill Bits Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Latin America PDC Drill Bits Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Middle East and Africa PDC Drill Bits Historical Market: Breakup by Country (USD Million), 2018-2023
21.    Middle East and Africa PDC Drill Bits Market Forecast: Breakup by Country (USD Million), 2024-2032
22.    Global PDC Drill Bits Market Structure

Key Questions Answered in the Report

In 2023, the global PDC drill bits market attained a value of nearly USD 4.61 billion.

The market is projected to grow at a CAGR of 3.7% between 2024 and 2032.

The major drivers of the market include technological advancements, increasing industrialisation and urbanisation, increase in exploration, and surging demand for speedy drilling.

The increasing demand for oil and natural gas and increasing investments are the key market trends propelling the market's growth.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The types of PDC drill bits in the  market are matrix body and steel body.

The different sizes of PDC cutters in the market are less than 9 mm, 9 mm to 24 mm, and above 24 mm.

The various number of blades in the market are less than 6, 6-10, and above 10.

The major applications of the market are onshore and offshore.

The key players in the global PDC drill bits market are Baker Hughes Company, NOV Inc., Xi’am Landrill Oil Tools Co. Ltd., Rockpecker Limited, and Schlumberger Limited, among others.

Analyst Review

The global PDC drill bits market attained a value of nearly USD 4.61 billion in 2023, driven by the increasing demand for oil and natural gas. Aided by technological advancements and increasing investments, the market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 3.7%.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The PDC drill bits industry can be segmented by type into matrix body and 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, and above 24 mm. The market can be segmented on the basis of the number of blades into less than 6, 6-10, and above 10. The major applications of the market are onshore and offshore. The major regional markets for PDC drill bits are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The major players in the industry are Baker Hughes Company, NOV Inc., Xi’am Landrill Oil Tools Co. Ltd., Rockpecker Limited, and Schlumberger Limited, among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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