Outlook on the PDC Drill Bits Market to 2023 - Pleyers Include Schlumberger, BHGE, Hall... - 0 views
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Almira Coyne on 12 Feb 21The PDC drill bits market is expected to grow from an estimated USD 3.66 Billion in 2018 to USD 4.54 Billion by 2023, at a CAGR of 4.41% during the forecast period. This growth can be attributed to factors such as increasing oil & gas drilling activities in the world and need for advanced techniques for faster drilling in less downtime. Download PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=33536072 The matrix body segment is estimated to hold the largest share of PDC drill bits market, by type, during the forecast period The matrix body segment held the largest share of the PDC drill bits market in 2017 and is expected to grow at a decent pace during the forecast period. The large market share of this segment can be attributed to the rising demand for faster drilling with less wear and tear of drill bits in medium-hard and hard formations. The 6-10 blade segment was estimated to be the largest segment of the PDC drill bits market, by number of blades, in 2017 The 6-10 blade segment was estimated to be the largest segment of the PDC drill bits market, by number of blades, in 2017. The 6-10 blades of PDC drill bits are mainly used for higher Rate of Penetration (ROP) drilling in medium-hard formations. Countries such as the US, China, Saudi Arabia, and Oman are showing rapid growth in the 6-10 blades PDC drill bits segment because of the recent increase in shale gas production and oil drilling.
