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Drilling Tools Market Share

Report ID: GMI12125
Published Date: Nov 2024
Report Format: PDF

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Drilling Tools Market Share

Global Drilling Tools Company Market Share Analysis, (2023)

In the global drilling tools industry key players such as Baker Hughes, Schlumberger and Altas Copco are holding a market share of around 10-15%. To stay competitive, these companies are investing in recent technologies and automation, focusing on eco-friendly products, and forming partnerships to improve their offerings. They are also expanding their product ranges, entering new markets, prioritizing customer needs, and making their operations more efficient to save costs. These actions help them meet market demands and strengthen their positions in the industry.

Drilling Tools Market Companies

Major players operating in the drilling tools industry are:

Atlas Copco
Baker Hughes
Black Diamond Drilling Tools Canada
Drilling Tools International
Halliburton
Ingersoll Rand
JSI Rock Tools
Nov
Rockmore International
Rotem
Samtec Tools
Sandvik Coromant US
Schlumberger
Weatherford
Western Drilling Tools

Authors: Aviansh Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for drilling tools was reached USD 7.8 billion in 2023 and is estimated to grow at a 3.5% CAGR from 2024 to 2032, driven by increased oil and gas exploration activities.

The drill bits segment recorded USD 2.4 billion in 2023 and is expected to grow at a 4% CAGR by 2032, due to their versatility and continuous technological advancements.

The conventional drilling technique segment held a 45% market share in 2023 and is anticipated to grow at a 3.6% CAGR during 2024 to 2032, owing to its reliability and cost-effectiveness.

The U.S. drilling tools market recorded USD 1.77 billion in 2023 and is expected to grow at a 3.8% CAGR by 2032, propelled by significant oil and gas production and robust construction activities.

The industry features key players such as Atlas Copco, Baker Hughes, Black Diamond Drilling Tools Canada, Drilling Tools International, Halliburton, Ingersoll Rand, JSI Rock Tools, Nov, Rockmore International, Rotem, Samtec Tools, Sandvik Coromant US, Schlumberger, Weatherford, and Western Drilling Tools.