The drilling industry is evolving with the advent of new technologies and practices. The necessity of new drilling technologies and practices result in redefined expectations for drill bits. A drill bit cuts into the rock during the time of drilling an oil or gas well. The drill bit is a rotating apparatus, which is located at the tip of the drillstring, below the drill collar and the drill pipe. It usually consists of two or three cones made up of the hardest of materials (usually steel, tungsten carbide, and/or synthetic or natural diamonds) and sharp teeth that cut into the rock and sediment below.
A boring apparatus is generally equipped with Drill Bits, which directly or by implication help in squashing or cutting rock. The bit is generally present at the bottom of the drillstring and must be changed when it becomes too much dull. Most bits work by scratching or pounding the rock, or both, generally as a component of a rotational movement. Some other bits known as mallet bits, pound rock vertically like air hammer works, while developing a site.
Important key components of drill bits are as follows:
- The cutting or boring element used in drilling oil and gas wells.
- Most bits used in rotary drilling are roller-cone bits.
- The bit consists of the cutting elements and the circulating element.
Drilling engineers choose the drill bits according to the type of formations encountered, whether or not directional drilling is required, for specific temperatures, and if well logging is being done. There are different types of drill bits. Steel Tooth Rotary Bits are the most common types of drill bits, while Insert Bits are steel tooth bit with tungsten carbide inserts. Polycrystalline Diamond Compact Bits use synthetic diamonds attached to the carbide inserts. Diamond Bits which are forty to 50 times stronger than steel bits have industrial diamonds implanted in them to drill extremely hard surfaces. Additionally, hybrids of these types of drill bits exist to tackle specific drilling challenges.
Scope of the report: This study provides the current global market size of drill bits and forecasts till 2019. The report includes detailed qualitative and quantitative analysis as well as a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, and key issues of the global drill bits market. The market is segmented on the basis of geography, which includes regions like Asia-Pacific, Europe, Africa, Middle East and Americas.
On the basis of application:
- Core Bits
- Mill Bits
- Fishtail Bits
On the basis of material type:
- Tungsten Carbide
- Synthetic or Natural diamonds
On the basis of product type:
- Steel Tooth Rotary Bits
- Insert Bits
- Diamond Bits
- Hybrid Bits
On the basis of geography:
- Middle East
1.1 KEY TAKEAWAYS
1.2 REPORT DESCRIPTION
1.3 MARKETS COVERED
1.4 RESEARCH METHODOLOGY
2 EXECUTIVE SUMMARY
3 MARKET OVERVIEW
3.1 MARKET DYNAMICS
4 DRILL BITS MARKET, BY APPLICATIONS
6 DRILL BITS MARKET, BY MATERIAL TYPE
6 DRILL BITS MARKET, BY GEOGRAPHY
6.2 MARKET BY GEOGRAPHY
6.2.3 NORTH AMERICA
6.2.4 SOUTH AMERICA
7 DRILL BITS MARKET: COMPETITIVE LANDSCAPE
7.1 MARKET SHARE: BY COMPANIES
8 DRILL PIPE MARKET: DEVELOPMENTS
8.1 MARKET DEVELOPMENT: BY COMPANIES
9 DRILL PIPE MARKET: BY COMPANIES
9.1 BAKER HUGHES
9.2 DRILL MASTER INC
9.3 ELEMENT SIX
9.4 ESCO CORPORATION
9.6 NATIONAL OIL VARCO
9.8 TORQUATO DRILLING ACCESSORIES
9.9 KING DREAM PUBLIC LIMITED
9.10 VAREL INTERNATIONAL ENERGY SERVICES LIMITED
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