PDC Drill Bits Market

                                                                           PDC Drill bits market

Introduction of pdc drill bits:
1).Drill bits are essential tools for any drilling operation in the oil and gas industry. It is used to drill
cylindrical boreholes for the production of crude oil and gas.
2).Polycrystalline diamond compact or PDC bits, are largely used in oil & gas industry. If the
formation is sticky or too hard, then only other types of bits are used.
3).Advancement in PDC drill bit have increased their penetration in oil & gas wells. PDC bit are
costlier than roller cone bits; however, they substantially reduce the total drilling cost, as these
provide higher rotary speed, which enable better drill rates and reduce the chances of deviation.

Key Dribers of PDC Drill Bits Market:
1).Rise in demand for oil and gas in emerging economies due to industrialization, urbanization,
and population growth is driving the global drilling industry. This is projected to boost the PDC
drill bits market.
2).Increase in exploration and new discovery of oil and gas deposits are fueling the market. In
January 2019, BP announced a discovery of more than 1 billion barrels of oil in its Thunder Horse
field in the Gulf of Mexico. These discoveries are likely to spark long-term drilling and exploration
operations over the coming years, leading to a steady rise in the demand from the global PDC drill
bits market over the forecast period.
3).Furthermore, increase in demand for speedy drilling with minimum wear and tear in terms of
hard and medium-hard formations is driving the global PDC drill bits market.
4).Rise in investments in the oil & gas sector is also boosting the market. For instance, in April
2018,U.S. Oil & Gas Plc (USOIL) started a new exploration drilling at the Hot Creek Valley
project in Nevada in the U.S. 

We are large drill bits manufacture in china. Tricone btis is very cheap price for clients