Global Drill Collar Market: Overview
A drill collar is a tubular piece of a drill string or a thick walled tubular pipe, which is made of solid bars of steel. Generally, plain carbon steel is used to make drill collar but sometimes, alloys such as non-magnetic nickel copper alloys are also used. Drill collar is commonly used in drill string to apply force downward in order to efficiently break the rocks. With the growing dependency on existing natural resources and incremented efforts for the exploration of new resources is reflecting on global drill collar market, which is projected for a healthy growth rate during the forecast period of 2016 to 2024.
This report on the global market for drill collar is a thorough analysis of the current scenario, and based on the analysis of factors that may influence the demand in the near future, estimations have been provided. The report also contains profiles of several prominent players currently active in the market, providing their market shares, geographical presence, and recent strategic developments. The global drill collar market can be segmented on the basis of raw materials into standard steel drill collar and non-magnetic allow drill collar, and on the basis of design into spiral and slick. Geographically, the report studies the lucrativeness of the regional drill collar markets in North America, Europe, Asia Pacific, and rest of the world.
Global Drill Collar Market: Trends & Opportunities
Escalating drilling activities across the world, be it for extraction or exploration of oil and natural gas, is the primary driver of the market. In particular, shale gas is quickly gaining popularity in order to decrease the dependency on oil and gas as well as preserve the environment. Many more wells are expected to start production during the forecast period and thereby increase the demand for drill collar, especially in Canada. Increased investments in deep and ultra-deep water reserve, which have emerged as resources with enormous potential, will further increment the demand. The report observes that offshore deep and ultra-deep water is mostly untouched as the companies were restricted to shallow water reserves until now. Government incentives for alternative energy exploration across several nations is another factor favoring the growth rate.
The report observes that standard steel drill collars serve the maximum demand, owing to increased offshore drilling activities and high material and tensile strength provided by them. Design-wise, slick collar drills segment accounts for most of the demand due to widespread availability of oilfields that require easy and immediate drilling.
Global  Market: Regional Outlook
According to the Natural Energy Board of Canada, the country had shale gas accounting for only 4% of total natural gas production, which will rise to 80% by 2035. Over 500,000 oil and natural gas wells have been drilled in Canada so far and the number is expected to continue to surge over the next few years. This make North America the most prominent region market for drill collar, backed up by oil exploration activities in the Gulf of Mexico, which will escalate demand from the Latin American region. Mounting crude oil exploration in Saudi Arabia, Qatar and UAE will drive the Middle East market while Asia Pacific will be feeding-off increasing demand from China.
Companies mentioned in the research report
Halliburton, Workstrings International, Schlumberger, Hunting, National Oil well Varco, Vallourec, Weatherford International are some of the prominent players in a highly fragmented competitive landscape of the global drill collar market. American Oilfield Tools, ACE, Challenger International, Aliron Tool Research, Command Energy Services, Global Drilling Solutions, Downhole Oil Tools, Superior Drillcollar, and Tasman Oil Tools are some of the other key players noted by the report.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.