Worldwide Drill Bits in Oil and Gas Industry Market by Product, Trends, Analysis and Forecasts to 2019

Drill bits are mechanical tools that cut and crush rocks to create wellbores for the extraction of hydrocarbons. They are mainly used in drilling operations for oil or gas wells, either onshore or offshore. They are broadly classified into two major categories:
- Fixed-cutter bits
- Roller-cone cutter bits
Fixed-cutter bits
Fixed-cutter bits do not have moving cones. They integrate cutting elements into the bit's body and are designed to excavate holes by shearing, instead of cutting or gouging. Based on type, they are classified into two:
- PDCs
- Natural diamond bits
Roller-cone cutter bits

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Roller-cone cutter bits include three individually rotating cones. They are designed to drill any formation by adjusting cutters, bearings, and nozzles. Depending on the design of their teeth, they are classified into two:
- Milled-tooth bits
- Tungsten carbide inserts
Publisher's analysts forecast the global drill bits in oil and gas industry to grow at a CAGR of 4.05% in terms of over the period 2014-2019.
Covered in this report
The report includes the present scenario and the growth prospects of global drill bits in oil and gas industry for the period 2015-2019. The market can be segmented into three based on type, application, and geography.
Publisher's report, Global Drill Bits in Oil and Gas Industry 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, EMEA, and the Americas; it also covers the landscape of the global drill bits in oil and gas industry and its growth prospects in the coming years. The report includes a discussion on the key vendors operating in this market.
Key geographies
- Americas
- APAC
- EMEA
Key vendors
- Baker Hughes
- Halliburton
- National Oilwell Varco
- Schlumberger
- Varel International

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Other prominent vendors
- Atlas Copco
- Cangzhou Great Drill
- Champion Cutting Tool
- Driltec
- Guizhou Sinodrills Equipment
- Irwin Industrial Tool
- NewTech Drilling Products
- Rock River Tool
- Weatherford International
Market driver
- Increased demand for oil and gas worldwide
- For a full, detailed list, view our report
Market challenge
- Fluctuating oil prices
- For a full, detailed list, view our report

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