Introduction

Drill collar are thick-walled pieces machined from solid steel bars, usually plain carbon steel. Drill collar possess various advantages which include compressive loads, hole size integrity, BHA stiffness to maintain hole straightness etc. The primary function of the drill collar is to apply the weight on the bit. Drill collars are generally produced from modified steel and are supplied in the form of rolled surface finish.

Rising shale gas exploration activities in the United States is one of the crucial factor to support the demand for drill collar over the near future. Further, increasing energy demand, redevelopment of maturing oilfield wells and rising need to maximize production are pushing the growth of drill collar market.

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Global Drill Collar Market: Regional Outlook

Considering regions, North America is expected to dominate the global drill collar market over the forecast years owing to the increasing oil & natural gas exploration & drilling activities across the U.S. and Canada. Consumption of natural gas in the United States is expected to rise in the coming years. According to the Energy Information Administration (EIA), overall natural gas consumption in U.S. averaged at 75.1 billion cubic feet/day in 2016 and is expected to increase by 0.3 Bcf/d (0.4%) in 2017 and 1.5 Bcf/d (2.0%) in 2018. North America is expected to be followed by Middle East & Africa in the global drill collar market over the near future.

Latin America in the global drill collar market is anticipated to grow at moderate pace over the forecast years. Europe and Asia-Pacific are expected to account for small share in the overall market and is anticipated to grow at slow rate over the near future.

Global Drill Collar Market: Market Participants

Some of the key players involved in the global drill collar market include Schlumberger Limited, SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG, Halliburton Company, National Oilwell Varco, Weatherford International, Workstrings International, Stabil Drill, ACE O.C.T.G. Ltd., Drilling Tools International, Inc., American Oilfield Tools, Superior Drillpipe Manufacturing, Aliron Tool Research, and others.

Key manufacturers involved in the manufacturing of drill collar have announced the divestment of their drilling products business. For instance, recently, Vallourec has announced that it has received offer for the purchase of its drilling products business, for a total amount of US$ 63 Million.

The global drill collar market is expected to be partially fragmented in the nature. Global players are expected to account for significant share in the overall market.