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Drill Collar Market - Global Industry Analysis, Size, Share, Trends, Growth & Forecast : 2024

News   •   Feb 08, 2017 14:46 EST

Global Drill Collar Market: Overview

A drill collar is a tubular piece of a drill string or a thick walled tubular pipe, which is made of solid bars of steel. Generally, plain carbon steel is used to make drill collar but sometimes, alloys such as non-magnetic nickel copper alloys are also used. Drill collar is commonly used in drill string to apply force downward in order to efficiently break the rocks. With the growing dependency on existing natural resources and incremented efforts for the exploration of new resources is reflecting on global drill collar market, which is projected for a healthy growth rate during the forecast period of 2016 to 2024.

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This report on the global market for drill collar is a thorough analysis of the current scenario, and based on the analysis of factors that may influence the demand in the near future, estimations have been provided. The report also contains profiles of several prominent players currently active in the market, providing their market shares, geographical presence, and recent strategic developments. The global drill collar market can be segmented on the basis of raw materials into standard steel drill collar and non-magnetic allow drill collar, and on the basis of design into spiral and slick. Geographically, the report studies the lucrativeness of the regional drill collar markets in North America, Europe, Asia Pacific, and rest of the world.

Global Drill Collar Market: Trends & Opportunities

Escalating drilling activities across the world, be it for extraction or exploration of oil and natural gas, is the primary driver of the market. In particular, shale gas is quickly gaining popularity in order to decrease the dependency on oil and gas as well as preserve the environment. Many more wells are expected to start production during the forecast period and thereby increase the demand for drill collar, especially in Canada. Increased investments in deep and ultra-deep water reserve, which have emerged as resources with enormous potential, will further increment the demand. The report observes that offshore deep and ultra-deep water is mostly untouched as the companies were restricted to shallow water reserves until now. Government incentives for alternative energy exploration across several nations is another factor favoring the growth rate.

The report observes that standard steel drill collars serve the maximum demand, owing to increased offshore drilling activities and high material and tensile strength provided by them. Design-wise, slick collar drills segment accounts for most of the demand due to widespread availability of oilfields that require easy and immediate drilling.

Global Driill Market: Regional Outlook

According to the Natural Energy Board of Canada, the country had shale gas accounting for only 4% of total natural gas production, which will rise to 80% by 2035. Over 500,000 oil and natural gas wells have been drilled in Canada so far and the number is expected to continue to surge over the next few years. This make North America the most prominent region market for drill collar, backed up by oil exploration activities in the Gulf of Mexico, which will escalate demand from the Latin American region. Mounting crude oil exploration in Saudi Arabia, Qatar and UAE will drive the Middle East market while Asia Pacific will be feeding-off increasing demand from China.

Companies mentioned in the research report

Halliburton, Workstrings International, Schlumberger, Hunting, National Oil well Varco, Vallourec, Weatherford International are some of the prominent players in a highly fragmented competitive landscape of the global drill collar market. American Oilfield Tools, ACE, Challenger International, Aliron Tool Research, Command Energy Services, Global Drilling Solutions, Downhole Oil Tools, Superior Drillcollar, and Tasman Oil Tools are some of the other key players noted by the report.

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Major regions analyzed under this research report are:

Europe

North America

Asia Pacific

Rest of the World

This report gives you access to decisive data such as:

Market growth drivers

Factors limiting market growth

Current market trends

Market structure

Market projections for the coming years