Drill collar are thick-walled pieces machined from solid steel bars, usually plain carbon steel. Drill collar possess various advantages which include compressive loads, hole size integrity, BHA stiffness to maintain hole straightness etc. The primary function of the drill collar is to apply the weight on the bit. Drill collars are generally produced from modified steel and are supplied in the form of rolled surface finish.
Rising shale gas exploration activities in the United States is one of the crucial factor to support the demand for drill collar over the near future. Further, increasing energy demand, redevelopment of maturing oilfield wells and rising need to maximize production are pushing the growth of drill collar market.
Global Drill Collar Market: Segmentation
The global drill collar market can be segmented on the basis of design, material type and application
On the basis of material type, the global drill collar market can be segmented into
- Standard Steel Drill Collar
- Non-magnetic Drill Collar
On the basis of design, the global drill collar market can be segmented into
On the basis of application, the global drill collar market can be segmented into
- Oil Exploration
- Gas Exploration
Global Drill Collar Market: Dynamics
Demand for the drill collar is primarily driven by the rising drilling related activities across the globe that may be for exploration or extraction of natural gas and oil. Further, increasing investments in the deep water reserve, which will be a key resource with enormous potential, to assist the demand for drill collar in the near future. Rising natural gas production has allowed the increased usage of natural gas in the industrial sector as well for the production of electricity, and natural gas exports are also expanding at a rapid pace. The aforementioned factors are assisting the demand for drill collar.
Development of reliable, safe and efficient drilling products that are cost-effective throughout its cycle is found to be one of the key challenges in the global drill collar market.
Prominent manufacturers involved in the drill collar market are focussing on development of high quality (modified steel based) product to assist the end-users across the globe. Some of the drill collar manufacturers have recently announced their divestment from their drilling products business
Global Drill Collar Market: Regional Outlook
Considering regions, North America is expected to dominate the global drill collar market over the forecast years owing to the increasing oil & natural gas exploration & drilling activities across the U.S. and Canada. Consumption of natural gas in the United States is expected to rise in the coming years. According to the Energy Information Administration (EIA), overall natural gas consumption in U.S. averaged at 75.1 billion cubic feet/day in 2016 and is expected to increase by 0.3 Bcf/d (0.4%) in 2017 and 1.5 Bcf/d (2.0%) in 2018. North America is expected to be followed by Middle East & Africa in the global drill collar market over the near future. Latin America in the global drill collar market is anticipated to grow at moderate pace over the forecast years. Europe and Asia-Pacific are expected to account for small share in the overall market and is anticipated to grow at slow rate over the near future.
Global Drill Collar Market: Market Participants
Some of the key players involved in the global drill collar market include Schlumberger Limited, SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG, Halliburton Company, National Oilwell Varco, Weatherford International, Workstrings International, Stabil Drill, ACE O.C.T.G. Ltd., Drilling Tools International, Inc., American Oilfield Tools, Superior Drillpipe Manufacturing, Aliron Tool Research, and others.
Key manufacturers involved in the manufacturing of drill collar have announced the divestment of their drilling products business. For instance, recently, Vallourec has announced that it has received offer for the purchase of its drilling products business, for a total amount of US$ 63 Million.
The global drill collar market is expected to be partially fragmented in the nature. Global players are expected to account for significant share in the overall market.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Fact.MR
Fact.MR offers custom research services that help clients to get specific research solutions
We are committed towards customer satisfaction and quality service.