Drilling Tools Market - Trends Forecast Till 2028

Drilling Tools Market is segmented by Type (Drill Bit, Drill Collar, Drill Pipe, Drill Reamer and Stabilizer, Drill Swivel, and Others), Location of Deployment (Onshore and Offshore) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: December, 2021

Base Year Estimate: 2020

Report ID: D-EN-DTM-914


Number of Pages: 287

Domain: Energy

Drilling Tools Market – Trends Forecast Till 2028

The drilling tools market is expected to register a CAGR of approximately 9.9%, owing to the increasing number of drilling rigs, due to new discoveries in several regions of the world.

Drilling tools are utilized for the most part of the world for drilling oil. Drilling tools are basically used for the extraction and exploration of natural gas and crude oil.

The rising exploration and development activities, increasing rig count, and increasing unconventional field development activities across the world are some of the factors that have supported long-term expansion for Drilling Tools Market.

Drilling Tools Market Size Analyses

North America region is expected to be among the largest drilling automation market and is likely to continue its dominance in the coming years. The region consists of major oil and gas oil production basins in the world, which provide fertile ground for further growth in the industry.

Drilling Tools Market is segmented into type, location of deployment and region.

On the basis of Type

  • Drill bit
  • Drill collar
  • Drill pipe
  • Drill reamer and stabilizer
  • Drill swivel

On the basis of location of Deployment

  • On shore
  • Off shore

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Drilling Tools Market Primary Respondent


Key Players

  • National-Oilwell Varco Inc
  • Halliburton Company
  • Schlumberger Limited,
  • Baker Hughes Company
  • Weatherford International Plc

Recent Developments

  • In jan 2017, schlumberger has announced that the company has acquired peak well system a design and development of advanced downhole tools for flow control. This acquisition will enhance the productivity of both companies.
  • In July 2019, national oilwell vacro has secured a contract from Samsung heavy industries to supply large submerged turret production system.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Drilling Tools Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope


Report Feature


Growth Rate

CAGR of 9.9% during the forecasting period, 2021-2028

Historical Data


Forecast Years


Base Year


Units Considered

Revenue in USD billion and CAGR from 2021 to 2028

Report Segmentation

type, location of deployment and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

National-Oilwell Varco Inc, Halliburton Company, Schlumberger Limited, Baker Hughes Company, Weatherford International Plc

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