Global Drill for Oil and Gas Extraction Market Growth 2025-2031

The global Drill for Oil and Gas Extraction market size is predicted to grow from US$ 2377 million in 2025 to US$ 3316 million in 2031; it is expected to grow at a CAGR of 5.7% from 2025 to 2031.

The oil and gas drill bit is a tool (a combination of drill pipe and tools) connected to the bottom of the drill string for digging up earth and rock.

Schlumberger, Baker Hughes and HALLIBURTON together accounted for 70 percent of the market in 2018.

LP Information, Inc. (LPI) ' newest research report, the “Drill for Oil and Gas Extraction Industry Forecast” looks at past sales and reviews total world Drill for Oil and Gas Extraction sales in 2024, providing a comprehensive analysis by region and market sector of projected Drill for Oil and Gas Extraction sales for 2025 through 2031. With Drill for Oil and Gas Extraction sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Drill for Oil and Gas Extraction industry.

This Insight Report provides a comprehensive analysis of the global Drill for Oil and Gas Extraction landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Drill for Oil and Gas Extraction portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Drill for Oil and Gas Extraction market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Drill for Oil and Gas Extraction and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Drill for Oil and Gas Extraction.

This report presents a comprehensive overview, market shares, and growth opportunities of Drill for Oil and Gas Extraction market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Fixed Cutting Edge Drill
Cone Drill

Segmentation by Application:
Overland
Marine

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Schlumberger
Baker Hughes
HALLIBURTON
NOV
Varel InternationalVarel International
Drilformance
Sinopec Oilfield Equipment Corporation

Key Questions Addressed in this Report

What is the 10-year outlook for the global Drill for Oil and Gas Extraction market?

What factors are driving Drill for Oil and Gas Extraction market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Drill for Oil and Gas Extraction market opportunities vary by end market size?

How does Drill for Oil and Gas Extraction break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.