What is Global Drill Collar Market?
The Global Drill Collar Market is a specialized sector within the oil and gas industry. Drill collars are thick-walled tubular pieces machined from solid bars of steel, usually plain carbon steel but sometimes of non-magnetic nickel-copper alloy. They are a crucial component of the drill string, providing weight on the bit for drilling and keeping the drill pipe centered in the hole. These collars are threaded at both ends to allow for the addition of more drill pipes and collars. The global market for these essential tools is vast and varied, with numerous manufacturers and suppliers worldwide.
Standard Steel Drill Collar, Non-magnetic Drill Collar in the Global Drill Collar Market:
Drill collars come in two main types: Standard Steel Drill Collar and Non-magnetic Drill Collar. The Standard Steel Drill Collar is the most common type used in the industry. It's made from high-grade steel and is designed to withstand the extreme conditions of drilling operations. On the other hand, Non-magnetic Drill Collars are made from non-magnetic materials and are used in directional drilling operations where magnetic interference can affect the accuracy of the drilling process. Both types of drill collars have their unique advantages and uses, making them indispensable in the drilling industry.
Oil and Gas Exploration, Geothermal Exploration, Others in the Global Drill Collar Market:
The Global Drill Collar Market finds its application in several areas, including Oil and Gas Exploration, Geothermal Exploration, among others. In Oil and Gas Exploration, drill collars are used to provide weight on the drill bit, enabling it to drill through rock formations. They also provide a conduit for drilling fluid and help maintain the stability of the drill string. In Geothermal Exploration, drill collars are used in a similar manner, but the conditions are often more extreme due to the high temperatures encountered. Despite these challenging conditions, drill collars have proven to be highly effective in these applications.
Global Drill Collar Market Outlook:
The Global Drill Collar Market is a dynamic and growing sector. In 2022, the market was valued at US$ 140 million and is expected to reach US$ 153.4 million by 2029, growing at a CAGR of 1.3% during the forecast period 2023-2029. The market is dominated by key players such as Deutsche Edelstahlwerke (DEW), Hunting PLC, Vallourec, Vigor Drilling, International Drilling Services (IDS), Schoeller-Bleckmann, National Oilwell Varco (NOV), Schlumberger, Zhong Yuan Special Steel, Shanxi Fenglei Drilling Tools, Henan Shenlong, Carpenter Technology and ACE O.C.T.G., which collectively account for about 70% of the market. The Americas is the largest market, accounting for over 36% of the global market. The most common product is the standard steel drill collar, which holds over 63% of the market share. The largest application of drill collars is in oil and gas exploration, which holds over 93% of the market share.
| Report Metric | Details |
| Report Name | Drill Collar Market |
| Accounted market size in 2022 | US$ 140 in million |
| Forecasted market size in 2029 | US$ 153.4 million |
| CAGR | 1.3% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Deutsche Edelstahlwerke (DEW), Hunting PLC, Vallourec, Vigor Drilling, International Drilling Services (IDS), Schoeller-Bleckmann, National Oilwell Varco (NOV), Schlumberger, Zhong Yuan Special Steel, Shanxi Fenglei Drilling Tools, Henan Shenlong, Carpenter Technology, ACE O.C.T.G. |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
