Drill bits are mechanical tools used for cutting or crushing rocks to create wellbores for the extraction of hydrocarbon resources. They are mainly used in drilling operations for oil or gas wells either onshore or offshore.
The analysts forecast the global drilling bits market in oil and gas to grow at a CAGR of 4.75% during the period 2017-2021.

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Covered in this report
The report covers the present scenario and the growth prospects of the global drilling bits market in oil and gas for 2017-2021. To calculate the market size, the report considers the revenues that are generated from the sale of drill bit products in the oil and gas exploration market.

The market is divided into the following segments based on geography:
Americas
APAC
EMEA
The report, Global Drilling Bits Market in Oil and Gas 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

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Key vendors
Baker Hughes
Halliburton
National Oilwell Varco
Schlumberger
Varel International

Other prominent vendors
Atlas Copco AB
Bellwether Resources International
Bit Brokers International
Century Products
DRILLBITS International (DBI)
Drilformance
Drill King International
Drilling Products (DPI)
Harvest Tool Company
Hole Products
Kay Rock Bit Company
Master Oil Tool
Nile Petroleum Industrial Company (NPICO)
OTS International
PDB Tools

Market driver
Migration of drilling into unconventional areas
For a full, detailed list, view our report

Market challenge
Declining investments in oil and gas industry
For a full, detailed list, view our report

Market trend
Integration of drill bits in bottom-hole assemblies
For a full, detailed list, view our report

Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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