November 22, 2018: Global Drill Collars Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are increasing across the globe.

Drill collars are vital components of a drill’s string and impart weight for drilling purposes. They are thick-walled tubular pieces machined from solid bars of steel. Typically plain carbon steel is used but sometimes alloys like nonmagnetic nickel-copper alloy or other nonmagnetic alloys are also used. Drill collar consists of bars of solid steel that are drilled from one end to the other. This enables an opening for pumping the drilling fluids by means of the collar.

The factors that propel the growth of the Drill Collars Market include increasing demand, technological innovations, significant rise in demand for oil & gas, and rapid industrialization.

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On the other hand, there are also factors that may hamper the growth of the market such as high cost of material and huge investment.

Drill Collars Market is classified on the basis of product type, application, distribution channel and geography.

Drill Collars Market is classified on the basis of product type as standard drill collar, spiral drill collar, square drill collar and others.

Drill Collars Market is classified on the basis of application as offshore drilling activities, onshore drilling activities and others.

Drill Collars Market is classified on the basis of distribution channel as specialty stores, online stores and others.

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Drill Collars Market is classified on the basis of geography as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa.

The North American region consists of the U.S., and Canada. Latin America region consists of Mexico and Brazil. The Western European region consists of Germany, Italy, France, England and Spain. The Eastern European region consists of Poland and Russia. Asia Pacific region consists of China, India, ASEAN, Australia & New Zealand. The Middle East and Africa region consists of GCC, South Africa and North Africa.

In case of geographical region, North America is projected to account a major share of the Drill Collars Market.

Some of the key players that fuel the growth of the Drill Collars Market include Ace Oilfield Supply, Command Energy Services, Drilling Tools International, Halliburton, Hunting, National Oilwell Varco (NOV), Oillfield Services & Supplies, Schlumberger, Tianhe Oil Group Huifeng Petroleum Equipment, Tasman Oil Tools, Workstrings International, Vallourec, and others.

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