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Global PDC Drill Bits Market: 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; By Application: Onshore, Offshore; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global PDC Drill Bits Market Outlook
The global PDC drill bits market reached a value of about USD 4.1 billion in 2020. The industry is further expected to grow at a CAGR of about 4% in the forecast period of 2023-2028 to reach a value of around USD 5.07 billion by 2026.
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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.
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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.
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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.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| 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, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| 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 (2018-2022)
8.3 Global PDC Drill Bits Market Forecast (2023-2028)
8.4 Global PDC Drill Bits Market by Type
8.4.1 Matrix Body
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Steel Body
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global PDC Drill Bits Market by Size of PDC Cutter
8.5.1 Less Than 9 mm
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 9 mm to 24 mm
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Above 24 mm
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.6 Global PDC Drill Bits Market by Number of Blades
8.6.1 Less Than 6
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 6–10
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Above 10
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.7 Global PDC Drill Bits Market by Application
8.7.1 Onshore
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Offshore
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.8 Global PDC Drill Bits Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
9 North America PDC Drill Bits Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe PDC Drill Bits Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific PDC Drill Bits Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America PDC Drill Bits Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa PDC Drill Bits Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
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 2028
2. Global PDC Drill Bits Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global PDC Drill Bits Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global PDC Drill Bits Historical Market: Breakup by Size of PDC Cutter (USD Million), 2018-2022
5. Global PDC Drill Bits Market Forecast: Breakup by Size of PDC Cutter (USD Million), 2023-2028
6. Global PDC Drill Bits Historical Market: Breakup by Application (USD Million), 2018-2022
7. Global PDC Drill Bits Market Forecast: Breakup by Application (USD Million), 2023-2028
8. Global PDC Drill Bits Historical Market: Breakup by Number of Blades (USD Million), 2018-2022
9. Global PDC Drill Bits Market Forecast: Breakup by Number of Blades (USD Million), 2023-2028
10. Global PDC Drill Bits Historical Market: Breakup by Region (USD Million), 2018-2022
11. Global PDC Drill Bits Market Forecast: Breakup by Region (USD Million), 2023-2028
12. North America PDC Drill Bits Historical Market: Breakup by Country (USD Million), 2018-2022
13. North America PDC Drill Bits Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Europe PDC Drill Bits Historical Market: Breakup by Country (USD Million), 2018-2022
15. Europe PDC Drill Bits Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Asia Pacific PDC Drill Bits Historical Market: Breakup by Country (USD Million), 2018-2022
17. Asia Pacific PDC Drill Bits Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Latin America PDC Drill Bits Historical Market: Breakup by Country (USD Million), 2018-2022
19. Latin America PDC Drill Bits Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Middle East and Africa PDC Drill Bits Historical Market: Breakup by Country (USD Million), 2018-2022
21. Middle East and Africa PDC Drill Bits Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Global PDC Drill Bits Market Structure
Key Questions Answered in the Report
In 2020, the global PDC drill bits market attained a value of nearly USD 4.1 billion.
The market is projected to grow at a CAGR of 4% between 2023 and 2028.
The major drivers of the market include technological advancements, increasing industrialisation and urbanisation, population growth, increase in exploration, and increase in demand for speedy drilling.
The increasing demand for oil and natural gas and increasing investments are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
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 players in the industry 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 4.1 billion in 2020, 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 2023-2028, growing at a CAGR of 4%.
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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