Global Oil & Gas Drill Bits Market to See 6.8% Growth Rate, an Industrial Info Market Brief

The global oil and gas drill bits market is expected to grow from $3.3 billion in 2018 to $5.5 billion by 2024, representing a compound annual growth rate of 6.8%. The market is being driven by factors such as increasing shale gas exploration activities and rising demand for customized drilling bits that can handle unconventional rock formation. Industrial Info is tracking drilling projects worth $98 billion globally. Click here for a list of projects. Click on chart below for a larger image of investments by country.