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Drill Bits Market For Oil & Gas Industry 2018 – Global Market Size, Industry Share, Market Trends Camiseta Rafinha , Growth and Forecast to 2026

by charliegefen · September 21, 2018


Global Drill Bits Market For Oil & Gas Industry By Product Type And Geography Is Expected To Reach US$ 8.2 Bn By 2023


According to a new market report published by Credence Research聽鈥淕lobal聽Drill Bits Market– Growth, Future Prospects, Competitive Analysis Camiseta Arthur , and Forecast 2016 – 2023,鈥澛爐he聽global drill bits market for oil & gas industry is expected to reach US$ 8.2 Bn by 2023, expanding at a CAGR of 6.1% over the forecast period 2016 to 2023.


Browse the full Global Drill Bits Market by Services and Geography – Growth, Future Prospects Camiseta Philippe Coutinho , Competitive Analysis, and Forecast 2016 鈥?2023 report at聽

Market Insights


Growing energy demand due to increase in number of automobiles due to rapid urbanization especially in emerging economies of Asia Pacific such as India and China are expected to drive the demand for fossil fuel which is influencing which oil producer to increase oil production, this in turn is expected to spur the growth of global drill bits market for oil & gas industry. Increase in exploration and production of sand formation coupled with new drilling techniques such as hydraulic fracturing or fracking is anticipated to impel the demand for polycrystalline diamond bits (PCD).


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Oil & gas industry has witnessed a shift in exploration and production operations form conventional to non-conventional oil & gas
Thus, oil producers are concentrating on improving oil production with the use of technologies. Leading drill bits manufacturers are providing drill bits endowed with technology that offers better rate of penetration at low cost, making drilling operations more efficient. Moreover, increasing offshore drilling activities coupled with increasing production of shale gas is expected to augment the growt. Cheap Custom Jerseys China Cheap Custom Jerseys For Sale Cheap Custom Jerseys Free Shiping Cheap Custom Jerseys Online Cheap Custom Jerseys Sale Cheap Custom Jerseys Sale Cheap Custom Made Jerseys China Cheap Custom College Jerseys For Sale Cheap Custom Bike Jerseys Free Shipping Cheap NHL Hockey Jerseys