Drilling Equipment Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION
The drilling equipment encompasses hoisting equipment, rotation equipment, mud circulation equipment, drill pipe, safety equipment, and all machinery that are employed in the drilling of a wellbore. Drilling equipment are designed to operate in a harsh and remote environment for off-shore drilling applications. These equipment provide with safer, speedy, and effective drilling operations while reducing carbon footprint. Some examples of drilling equipment include drill bits, logging tools, drilling fluids, rotary hoses, and others.

MARKET DYNAMICS
The drilling equipment market is anticipated to grow in the forecast period owing to driving factors such as increased refining and extraction activities coupled with growing consumption of oil. Furthermore, shifting focus on shale gas reserves and other unconventional oil fields is likely to propel the growth of the drilling equipment market. However, fluctuating raw material prices may hamper the growth of the drilling equipment market in the forecast period.

MARKET SCOPE
The "Global Drilling Equipment Market Analysis to 2031" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of drilling equipment market with detailed market segmentation by product type, application, and geography. The global drilling equipment market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading drilling equipment market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION
The global drilling equipment market is segmented on the basis of product type and application. Based on product type, the market is segmented as drill bits, drill collars, drilling jars, drilling motors, drill swivels, and others. On the basis of the application the market is segmented as on-shore and off-shore.


REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global drilling equipment market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The drilling equipment market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting drilling equipment market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the drilling equipment market in these regions.

Drilling Equipment Market Report Analysis

Drilling Equipment Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• Akkerman Inc.
• Astec Industries, Inc.
• Atlas Copco
• BESSAC (Soletanche Bachy)
• China Communications Construction Company
• CREG TBM Germany GmbH
• Herrenknecht AG
• Hitachi Zosen Corporation
• Sandvik AB

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Product Type

• Drill Bits
• Drill Collars
• Drilling Jars
• Drilling Motors
• Drill Swivels

By Application

• On-shore
• Off-shore

MARKET PLAYERS
The reports cover key developments in the drilling equipment market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from drilling equipment market are anticipated to lucrative growth opportunities in the future with the rising demand for drilling equipment in the global market. Below mentioned is the list of few companies engaged in the drilling equipment market.

The report also includes the profiles of key drilling equipment companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.

• Akkerman Inc.
• Astec Industries, Inc.
• Atlas Copco
• BESSAC (Soletanche Bachy)
• China Communications Construction Company
• CREG TBM Germany GmbH
• Herrenknecht AG
• Hitachi Zosen Corporation
• Sandvik AB
• SANY Group

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Drilling Equipment Market Report Scope