Drilling Equipment Market Insights and Growth by 2031
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.
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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.
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
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Drilling Equipment Market - By Product Type
1.3.2 Drilling Equipment Market - By Application
1.3.3 Drilling Equipment Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DRILLING EQUIPMENT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. DRILLING EQUIPMENT MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. DRILLING EQUIPMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. DRILLING EQUIPMENT - GLOBAL MARKET OVERVIEW
6.2. DRILLING EQUIPMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. DRILLING EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. DRILL BITS
7.3.1. Overview
7.3.2. Drill Bits Market Forecast and Analysis
7.4. DRILL COLLARS
7.4.1. Overview
7.4.2. Drill Collars Market Forecast and Analysis
7.5. DRILLING JARS
7.5.1. Overview
7.5.2. Drilling Jars Market Forecast and Analysis
7.6. DRILLING MOTORS
7.6.1. Overview
7.6.2. Drilling Motors Market Forecast and Analysis
7.7. DRILL SWIVELS
7.7.1. Overview
7.7.2. Drill Swivels Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis
8. DRILLING EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ON-SHORE
8.3.1. Overview
8.3.2. On-shore Market Forecast and Analysis
8.4. OFF-SHORE
8.4.1. Overview
8.4.2. Off-shore Market Forecast and Analysis
9. DRILLING EQUIPMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Drilling Equipment Market Overview
9.1.2 North America Drilling Equipment Market Forecasts and Analysis
9.1.3 North America Drilling Equipment Market Forecasts and Analysis - By Product Type
9.1.4 North America Drilling Equipment Market Forecasts and Analysis - By Application
9.1.5 North America Drilling Equipment Market Forecasts and Analysis - By Countries
9.1.5.1 United States Drilling Equipment Market
9.1.5.1.1 United States Drilling Equipment Market by Product Type
9.1.5.1.2 United States Drilling Equipment Market by Application
9.1.5.2 Canada Drilling Equipment Market
9.1.5.2.1 Canada Drilling Equipment Market by Product Type
9.1.5.2.2 Canada Drilling Equipment Market by Application
9.1.5.3 Mexico Drilling Equipment Market
9.1.5.3.1 Mexico Drilling Equipment Market by Product Type
9.1.5.3.2 Mexico Drilling Equipment Market by Application
9.2. EUROPE
9.2.1 Europe Drilling Equipment Market Overview
9.2.2 Europe Drilling Equipment Market Forecasts and Analysis
9.2.3 Europe Drilling Equipment Market Forecasts and Analysis - By Product Type
9.2.4 Europe Drilling Equipment Market Forecasts and Analysis - By Application
9.2.5 Europe Drilling Equipment Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Drilling Equipment Market
9.2.5.1.1 Germany Drilling Equipment Market by Product Type
9.2.5.1.2 Germany Drilling Equipment Market by Application
9.2.5.2 France Drilling Equipment Market
9.2.5.2.1 France Drilling Equipment Market by Product Type
9.2.5.2.2 France Drilling Equipment Market by Application
9.2.5.3 Italy Drilling Equipment Market
9.2.5.3.1 Italy Drilling Equipment Market by Product Type
9.2.5.3.2 Italy Drilling Equipment Market by Application
9.2.5.4 United Kingdom Drilling Equipment Market
9.2.5.4.1 United Kingdom Drilling Equipment Market by Product Type
9.2.5.4.2 United Kingdom Drilling Equipment Market by Application
9.2.5.5 Russia Drilling Equipment Market
9.2.5.5.1 Russia Drilling Equipment Market by Product Type
9.2.5.5.2 Russia Drilling Equipment Market by Application
9.2.5.6 Rest of Europe Drilling Equipment Market
9.2.5.6.1 Rest of Europe Drilling Equipment Market by Product Type
9.2.5.6.2 Rest of Europe Drilling Equipment Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Drilling Equipment Market Overview
9.3.2 Asia-Pacific Drilling Equipment Market Forecasts and Analysis
9.3.3 Asia-Pacific Drilling Equipment Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific Drilling Equipment Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Drilling Equipment Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Drilling Equipment Market
9.3.5.1.1 Australia Drilling Equipment Market by Product Type
9.3.5.1.2 Australia Drilling Equipment Market by Application
9.3.5.2 China Drilling Equipment Market
9.3.5.2.1 China Drilling Equipment Market by Product Type
9.3.5.2.2 China Drilling Equipment Market by Application
9.3.5.3 India Drilling Equipment Market
9.3.5.3.1 India Drilling Equipment Market by Product Type
9.3.5.3.2 India Drilling Equipment Market by Application
9.3.5.4 Japan Drilling Equipment Market
9.3.5.4.1 Japan Drilling Equipment Market by Product Type
9.3.5.4.2 Japan Drilling Equipment Market by Application
9.3.5.5 South Korea Drilling Equipment Market
9.3.5.5.1 South Korea Drilling Equipment Market by Product Type
9.3.5.5.2 South Korea Drilling Equipment Market by Application
9.3.5.6 Rest of Asia-Pacific Drilling Equipment Market
9.3.5.6.1 Rest of Asia-Pacific Drilling Equipment Market by Product Type
9.3.5.6.2 Rest of Asia-Pacific Drilling Equipment Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Drilling Equipment Market Overview
9.4.2 Middle East and Africa Drilling Equipment Market Forecasts and Analysis
9.4.3 Middle East and Africa Drilling Equipment Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa Drilling Equipment Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Drilling Equipment Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Drilling Equipment Market
9.4.5.1.1 South Africa Drilling Equipment Market by Product Type
9.4.5.1.2 South Africa Drilling Equipment Market by Application
9.4.5.2 Saudi Arabia Drilling Equipment Market
9.4.5.2.1 Saudi Arabia Drilling Equipment Market by Product Type
9.4.5.2.2 Saudi Arabia Drilling Equipment Market by Application
9.4.5.3 U.A.E Drilling Equipment Market
9.4.5.3.1 U.A.E Drilling Equipment Market by Product Type
9.4.5.3.2 U.A.E Drilling Equipment Market by Application
9.4.5.4 Rest of Middle East and Africa Drilling Equipment Market
9.4.5.4.1 Rest of Middle East and Africa Drilling Equipment Market by Product Type
9.4.5.4.2 Rest of Middle East and Africa Drilling Equipment Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Drilling Equipment Market Overview
9.5.2 South and Central America Drilling Equipment Market Forecasts and Analysis
9.5.3 South and Central America Drilling Equipment Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America Drilling Equipment Market Forecasts and Analysis - By Application
9.5.5 South and Central America Drilling Equipment Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Drilling Equipment Market
9.5.5.1.1 Brazil Drilling Equipment Market by Product Type
9.5.5.1.2 Brazil Drilling Equipment Market by Application
9.5.5.2 Argentina Drilling Equipment Market
9.5.5.2.1 Argentina Drilling Equipment Market by Product Type
9.5.5.2.2 Argentina Drilling Equipment Market by Application
9.5.5.3 Rest of South and Central America Drilling Equipment Market
9.5.5.3.1 Rest of South and Central America Drilling Equipment Market by Product Type
9.5.5.3.2 Rest of South and Central America Drilling Equipment Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. DRILLING EQUIPMENT MARKET, KEY COMPANY PROFILES
11.1. AKKERMAN INC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ASTEC INDUSTRIES, INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. ATLAS COPCO
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. BESSAC (SOLETANCHE BACHY)
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. CHINA COMMUNICATIONS CONSTRUCTION COMPANY
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. CREG TBM GERMANY GMBH
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. HERRENKNECHT AG
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. HITACHI ZOSEN CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SANDVIK AB
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SANY GROUP
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.Akkerman Inc.2.Astec Industries, Inc.3.Atlas Copco4.BESSAC (Soletanche Bachy)5.China Communications Construction Company6.CREG TBM Germany GmbH7.Herrenknecht AG8.Hitachi Zosen Corporation9.Sandvik AB10.SANY Group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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