"Actionable Insights to Fuel Your Growth"

PDC Drill Bits Market Size, Share and Global Trend By Type (Matrix Body, Steel Body), By Cutter Size (Less than 9 mm, 9-14 mm, 15-24 mm, Above 24 mm), By Number of Blades (Less than 6, 6-10, Above 10) and Regional Forecast, 2024-2032

Region : Global | Report ID: FBI100946 | Status : Ongoing



PDC Drill Bits, also known as Polycrystalline Diamond Compact are primarily used in the drilling tools for the oil and gas industry. The fixed-head bits used in the PDC cutters for drilling are called PDC drill bits. Advances in PDC drill bits have sharply increased the penetration rates in oil & gas wells. Though PDC drill bits are more costly than roller cone bits, it has substantially lowered the total drilling cost, as higher rotary speed provides better drill rates and also reduces the chances of deviation. Drilling a horizontal well requires more time than vertical well due to increased length and hence, increases total drilling expenses.

The global PDC drill bits market is segmented into a matrix body and steel body. The matrix body segment is estimated to hold the largest share as it can withstand an impact load and is capable of drilling medium-hard to hard formations. The 15–24 mm PDC drill bits market is estimated to grow at the highest rate due to its usage for drilling medium-hard and hard formations with a higher rate of penetration. The 6–10 number of blades is expected to hold the largest market share for PDC drill bits due to its higher rate of penetration and less downtime.

To gain extensive insights into the market, Request for Customization

An increase in oil & gas drilling activities around the world and the need for advanced techniques for faster drilling in less downtime is the major driver for the PDC drill bits market. Because of the high volume of fluid, longer life, and multiple runs, the Matrix PDC drill bit market is expected to grow. These bits also provide enhanced structural and wear-resistant characteristics along with erosion resistance that will increase the demand for the product. In addition, technological improvement in the matrix body has improved the power of the bit brace, the strength of the tensile, and the resistance of the effect that will favorably affect the penetration of the product.

The growth of the PDC drill bits market is hampered by the restrictions imposed by the various government of different countries on hydrocarbon-based fuel sources along with environmental risks caused due to hydrocarbon-based fuel sources.

Key Players Covered

Some of the major companies that are present in PDC drill bits market are Schlumberger, Baker Hughes, a GE company, Halliburton, National Oilwell Varco, Varel International Energy Services, Atlas Copco, Exploration Drill Masters Chile S.A, Rubicon Oilfield International, Sichuan Chuanshi Diamond Bit Co.,Ltd (CSB), SHEAR BITS, Torquato, Ulterra Drilling Technologies L.P., Volgaburmash, Western Drilling Tools Inc., and Yasin Petro Pasargad.




By Type

· Matrix Body

· Steel Body

By Cutter Size

· Less than 9 mm

· 9-14 mm

· 15-24 mm

· Above 24 mm

By Number of Blades

· Less than 6

· 6-10

· Above 10

By Geography

· North America (the USA and Canada)

· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

· Latin America (Brazil, Mexico, and Rest of Latin America)

· Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)


Regional Analysis

The global PDC drill bits market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America PDC drill bits market is anticipated to be a major player due to recent developments in oil & gas drilling activities in the US and Canada along with an increase in shale gas exploration & production is also likely to boost the demand for PDC drill bits in the region. European nations are expected to witness robust growth in the PDC Drill Bits market due to steady demand from the frozen food sector along with the presence of a large number of industries in the region. In Asia-Pacific countries such as China is showing rapid growth in the 6-10 blades PDC drill bits segment because of the recent increase in shale gas production and oil drilling. In Latin America, economies such as Argentina and Brazil, both the countries have made the oil & gas business more attractive, and the disinvestment scenario has come to an end. As a result, the positive outlook for the oil & gas industry in Latin America is expected to support the market. In the Middle East and Africa countries, such as Oman and Saudi Arabia, are increasingly adopting the PDC drill bits with 6 to 10 blades. This is due to the recent rise in oil drilling activities and the production of shale gas.

Key Industry Developments

  • In Jun 2019, Baker Hughes, a GE company and C3.ai today announced a joint venture agreement bringing together BHGE's full-stream oil and gas knowledge with C3.ai's unique AI software suite to produce digital transformation technologies that drive fresh rates of oil and gas production.
  • In Feb 2019, Rockwell Automation, the world's biggest industrial automation and data firm, and Schlumberger, the world's leading reservoir characterization, drilling, manufacturing and processing technology supplier for the oil and gas industry, announced that they have signed a fresh joint venture agreement, for creating Sensia, the first fully integrated digital oilfield automation solutions provider. 
  • In Jul 2018, TETRA Technologies, Inc. and Halliburton, a global oil services company, today announced a global joint marketing and development agreement to sell and distribute TETRA's proprietary TETRA CS Neptune filling fluids. The cooperative arrangement also encourages and encourages further growth of other oil and gas drilling and completion fluids depending on their corresponding technology and resource capacities.

  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients


Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.