Technavio has announced its latest market research report titled Global Drilling Bits Market in Oil and Gas 2020-2024 (Graphic: Business Wire)
Technavio has announced its latest market research report titled Global Drilling Bits Market in Oil and Gas 2020-2024 (Graphic: Business Wire)
LONDON--(BUSINESS WIRE )--Technavio has been monitoring the drilling bits market in oil and gas and it is poised to grow by $ 1382.30 million during 2020-2024, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Atlas Copco AB, Baker Hughes Co., Bellwether Resources International Inc., Bit Brokers International Ltd., Caterpillar Inc., Drill King International LP, Drilling Products Inc., Halliburton Co., National Oilwell Varco Inc., and Sandvik AB are some of the major market participants. Although migration of drilling into unconventional areas will offer immense growth opportunities, decreasing profitability of upstream petroleum companies will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Migration of drilling into unconventional areas has been instrumental in driving the growth of the market. However, decreasing profitability of upstream petroleum companies might hamper market growth.
Drilling bits market in oil and gas 2020-2024 : Segmentation
Drilling bits market in oil and gas is segmented as below:
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41458
Drilling bits market in oil and gas 2020-2024 : Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our drilling bits market in oil and gas report covers the following areas:
This study identifies the use of biomass as a fuel in boiler as one of the prime reasons driving the growth of drilling bits market in oil and gas growth during the next few years.
Drilling bits market in oil and gas 2020-2024 : Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the Drilling bits market in oil and gas, including some of the vendors such as Atlas Copco AB, Baker Hughes Co., Bellwether Resources International Inc., Bit Brokers International Ltd., Caterpillar Inc., Drill King International LP, Drilling Products Inc., Halliburton Co., National Oilwell Varco Inc., and Sandvik AB. Backed with competitive intelligence and benchmarking, our research reports on the Drilling bits market in oil and gas are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Drilling bits market in oil and gas 2020-2024 : Key Highlights
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
The Global Drilling Bits Market in Oil and Gas will grow by $ 1382.30 mn during 2020-2024
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/