The global polycrystalline diamond compact (PDC) bit market is anticipated to expand at a considerable CAGR during the forecast period, 2020 – 2026. The growth of the market is attributed to the increase in demand for PDC bits from end users.
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Polycrystalline diamond compact (PDC) bits are mainly used in the drilling tools. These bits are necessary tools for carrying drilling operations primarily in the oil and gas industry where it drills cylindrical boreholes for assembling crude oil and gas. Moreover, these bits are more expensive than roller cone bits; nevertheless, they considerably lessen the total cost of drilling, owing to the higher rotary speed that allows enhanced drill rates whilst reducing the deviation.
Artificial diamond cutters are used for the production of PDC bits as diamond is the hardest material due to its superior properties. Additionally, PDC is a key component for drilling, as it combines inexpensive, manmade, and tiny diamonds into large masses of erratically oriented crystals. These are further utilized in the formation of diamond tables which are a part of the cutter. PDC diamond tables are hard and possess a broad spectrum of characteristic for bit cutters.
Segments Covered in the Report
Less than 9 mm
9 mm to 24 mm
Above 24 mm
Oil & Gas
Middle East & Africa
By Key Players:
National-Oil well Varco, Inc
Weatherford International plc
Baker Hughes a GE Company
Varel International Energy Services, Inc
Landrill Oil Tools Co., Ltd
Ulterra Drilling Technologies, L.P.
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Table Of Content:
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Polycrystalline Diamond Compact(PDC) Bit Market Overview
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Polycrystalline Diamond Compact(PDC) Bit Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.4. Market Trends
4.4. Polycrystalline Diamond Compact(PDC) Bit Market – Supply Chain
4.5. Global Polycrystalline Diamond Compact(PDC) Bit Market Forecast
4.5.1. Polycrystalline Diamond Compact(PDC) Bit Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Polycrystalline Diamond Compact(PDC) Bit Market Size (000? Units) and Y-o-Y Growth
4.5.3. Polycrystalline Diamond Compact(PDC) Bit Market Absolute $ Opportunity
5.1. Market Trends
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Polycrystalline Diamond Compact(PDC) Bit Market Size and Volume Forecast by Type
5.3.1. Single Drill Bit
5.3.2. Double Drill Bit
5.3.3. Three Drill Bit
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
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