Drill Collar Market

Introduction of the Drill Collars Market Report

Drill collars are stiff, heavy steel tubular structure used in the oil & gas exploration activities. Drill collars are grooved, machined in the outside surface to promote the even flow of drilling fluid and facilitate weight on bit. A drill collar is a device used in the bottom hole assembly at the lowest part of a drill string. It is thick-walled tube to apply weight to the drill bit. The drill collar has unique features such as gravity, rigidity, reliability with primary function is to provide sufficient WOB (Weight on bit). The weight of the collars ensures tension of the drill pipe that prevents buckling.

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Market Dynamic

Key Drivers and Emerging Trends

One of the biggest factors that contributing to the growth of the drill collars market includes the increasing industrialization and globalization with growing manufacturing facilities in several industries. For instance, drill collars are widely used in by there putable steel manufacturers to outperform all industry requirements. Drill collars are extremely heavy-duty industrial tubular used to drill into the ground and are used in conjunction with drill pipe. Increasing demand for the drill collars in the oil & gas exploration activities with the growing development and production of new oil and gas fields due to growing transportation requirements. For instance, according to the OPEC Organization Report, the total world crude oil production increased by around 1.213 Million barrels/day in 2018 increased by 1.6% as compared to 2017, to reach 75.78 m b/d production marking highest annual growth. This increase in production of oil has created massive demand for the drill collars used in the oil exploration fields around the globe.

Also, the demand for the drill collars market is higher in the major oil and gas producing countries such as United States, Saudi Arabia, UAE, Russia etc. Also, increasing oil and gas exploration activities with producing growing global demand and surge in the government initiatives is boosting the market global drill collars market growth in India and other countries globally. For instance, in 2019, Oil and Natural Gas Corp (ONGC) has founded over 230 Million tonnes of oil reserves during the last three years. ONGC India’s top oil and gas producer has oil reserves of 459.84 Million tonnes as of 2019.

Restraining Factor for the Drill Collar Market

The volatility of the oil prices and supply-demand gap due to declining demand for the crude oil in recent years may hamper the drill collar market growth.

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Type- Segment Analysis

Based on the type, standard steel drill collar expected to grow at the fastest rate in the global drill collars market during the study period, this is primarily attributed to its high durability, strength and corrosion resistant properties. Also, growing application of drill collars in the onshore oil production in the United States has created massive demand for this market growth. For instance, according to the International Energy Agency Organization, in December 2019, the United State’s oil production reached 12.8 Million barrels per day (b/d) and natural gas gross production reached 116.8 Billion cubic feet per day (Bcf/d). This increase in the production capacity has impelled the drill collars market growth.

Application – Segment Analysis

Based on the application, onshore segment is projected to have the largest market share over the forecast period in the global drill collars market in 2020, owing to rising demand for the onshore oil production globally due to surge in the onshore oil production. For instance, according to the Our Energy Policy Organization, onshore oil production is expected to reach 22 Million barrels per day by 2035 which is expected to strengthen this segmental growth. Also, in July 2019, Oil and Natural Gas Corp (ONGC) has discovered more than 230 Million tonnes of oil reservoirs in the last three years.

Regional – Segment Analysis:

Based on the region, North America region is expected to dominate the global drill collars market in 2020 due to growing oil & gas exploration activities with government initiatives and rising investment by the leading players for deep water projects and to maximize production of the existing wells, and the development of new oil fields wells. For instance, according to the US Energy Information Administration, the annual average oil production in United States reached 12.2 Million b/d in 2019 whereas United State’s natural gas production reached 116.8 Bcf/d in December 2019. It created massive demand for the growth of the drill collars market in this region.

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Top Market Players

Some of the leading players operating in the market China Vigor Drilling Oil Tools and Equipment Co. Ltd, International Drilling Services Ltd. (IDS), American Oilfield Tools, Inc., Workstrings International, National Oilwell Varco, Hunting PLC, Schoeller-Bleckmann Oilfield Equipment AG, Schlumberger Limited, Zhong Yuan Special Steel Co. Ltd, Texas Steel Conversion Inc. (TSC), Challenger International Inc., and among others.

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Key Developments:

• • In 2020, Hunting PLC and Rival Downhole Tools LC have announced that Rival has acquired the operating assets of Hunting Energy Services (Drilling Tools), Inc. (HESDT), a wholly owned subsidiary of Hunting, in exchange for Hunting securing a minority equity interest in Rival.
  • In 2021, Ace Oil Tools launched ARC-Force downhole ratchet collar range based on its Ratchet Collar.
  • In 2018, Sandhills Publishing launched an Online Marketplace OilfieldTrader.com for selling Oilfield Equipments such as drill collars etc.

Segments covered in the Report:

The global drill collars market has been segmented on the basis of type, application, and key regions. Based on type, the market is segmented into Non-magnetic drill collar, and standard steel drill collar. Based on application, the market is divided into offshore, and onshore.

Key questions answered in this research report:

• • At what pace is global drill collars market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in drill collars market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global drill collars market?
  • Which type generated maximum revenues in 2020 and identifies the most promising type during the forecast period?
  • What are the various application areas of global drill collars market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	China Vigor Drilling Oil Tools and Equipment Co. Ltd, International Drilling Services Ltd. (IDS), American Oilfield Tools, Inc., Workstrings International, National Oilwell Varco, Hunting PLC, Schoeller-Bleckmann Oilfield Equipment AG, Schlumberger Limited, Zhong Yuan Special Steel Co. Ltd, Texas Steel Conversion Inc. (TSC), Challenger International Inc. and among others; a total of 11 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Drill Collars Market by Type

• • Non-magnetic Drill Collar
  • Standard Steel Drill Collar

Global Drill Collars Market by Application

• • Offshore
  • Onshore

Global Drill Collars Market By Region

• • North America Drill collars Market (Option 1: As a part of the free 25% customization)
    • North America Drill collars Market by Type
    • North America Drill collars Market by Application
    • US Drill collars Market All-Up
    • Canada Drill collars Market All-Up
  • Europe Drill collars Market (Option 2: As a part of the free 25% customization)
    • Europe Drill collars Market by Type
    • Europe Drill collars Market by Application
    • UK Drill collars Market All-Up
    • Germany Drill collars Market All-Up
    • France Drill collars Market All-Up
    • Spain Drill collars Market All-Up
    • Rest of Europe Drill collars Market All-Up
  • Asia-Pacific Drill collars Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Drill collars Market by Type
    • Asia-Pacific Drill collars Market by Application
    • China Drill collars Market All-Up
    • India Drill collars Market All-Up
    • Japan Drill collars Market All-Up
    • Rest of APAC Drill collars Market All-Up
  • RoW Drill collars Market (Option 4: As a part of the free 25% customization)
    • RoW Drill collars Market by Type
    • RoW Drill collars Market by Application
    • Brazil Drill collars Market All-Up
    • South Africa Drill collars Market All-Up
    • Saudi Arabia Drill collars Market All-Up
    • UAE Drill collars Market All-Up
    • Rest of world (remaining countries of the LAMEA region)Drill collars Market All-Up

Major Players Operating in the Drill collars (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • China Vigor Drilling Oil Tools and Equipment Co. Ltd
  • International Drilling Services Ltd. (IDS)
  • American Oilfield Tools, Inc.
  • Workstrings International
  • National Oilwell Varco
  • Hunting PLC
  • Schoeller-Bleckmann Oilfield Equipment AG
  • Schlumberger Limited
  • Zhong Yuan Special Steel Co. Ltd
  • Texas Steel Conversion Inc. (TSC)