Drill Pipe Global Market Report 2023 – By Type (Standard Drill Pipes, Heavy Weight Drill Pipes, Drill Collars), By Material (Alloys, Composites, Other Materials), By Application (Offshore, Onshore), By Industry (Oil And Gas Industry, Mining Industry, Agriculture Industry, Other Industries) – Market Size, Trends, And Global Forecast 2023-2032

The power tools is used to speed up the completion of tasks that would take much longer with traditional tools. The power tools contain various energy-efficient tools that run on electricity, internal combustion, and compressed air. Equipment that is driven by a mechanism or source other than the human body is termed a power tool. The most typical source of power for these tools is an electric motor base, and a few are fuelled by gasoline. The main types of power tools are drilling and fastening, demolition, routing, sawing, cutting, material removal, and other tool types. The drilling and fastening tools are used to form a hole of different sizes on a job. Drilling is a metal removing technique that may be done with a drilling machine. Drilling, reaming, and boring are all operations that can be done with a drilling tool. The various operations modes include electric, pneumatic, and others and can be distributed through online, and offline channels. The numerous applications include construction, automotive, aerospace, energy, electronics, and others. The global power tools market is segmented - 1) By Tool Type: Drilling and Fastening Tools, Demolition Tools, Routing Tools, Sawing and Cutting Tools, Material Removal Tools, Other Tool Types 2) By Mode Of Operation: Electric, Pneumatic, Other Mode of Operations 3) By Distribution Channel: Online, Offline 4) By Application: Construction, Automotive, Aerospace, Energy, Electronics, Other Applications The global power tools market size grew from $35.96 billion in 2022 to $39.35 billion in 2023 at a compound annual growth rate (CAGR) of 9.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the power tools market is expected to grow to $53.58 billion in 2027 at a CAGR of 8.0%. The rapid expansion of the construction industry is expected to propel the growth of the power tools market going forward. The construction industry is a manufacturing and trade division focusing on building, maintaining, and repairing structures. Power tools are employed in construction as they give greater efficiency, accuracy, and worker safety. For instance, according to Invest India, an India-based investment and promotion agency, the Indian construction equipment sector revenue stood at $6.5 billion in 2020 and is expected to the growth by an average of 7.1% by 2025. Therefore, the rapid expansion of the construction industry drives the growth of the power tools market. Major players in the power tools market are Stanley Black & Decker Inc., Robert Bosch GmbH, Techtronic Industries Co. Ltd., Makita Corporation, Hilti Corporation, Atlas Copco, Ingersoll Rand, Snap-on Incorporated, Apex Tool Group, Hitachi Koki Ltd., Emerson Electric Co, Enerpac Tool Group, Carborundum Universal Limited, Electrex Power Tools, Husqvarna AB, Panasonic Corporation, Kyocera Corporation, and Ridgid Tools. New product innovations have emerged as the key trend gaining popularity in the power tools market. Major companies operating in the power tools market are inventing new product innovations to sustain their position in the market. For instance, in December 2021, Dewalt, a US-based company that manufactures power tools, launched its new Dewalt PowerStack 20V Max Compact Battery, which gives 50% more power. It contains broad application capabilities and fast performance with cordless tools. This battery is 25% more compact and 15% lighter. In January 2021, GWS Tool Group, a US-based manufacturer of highly engineered custom, standard, and modified standard cutting tools, acquired Taurus Tool & Engineering for an undisclosed amount. This acquisition of Taurus tools expands GWS's product line and capabilities in custom HSS tooling and custom thread-on modular tooling while providing capacity for sophisticated carbide hole-making and milling tools. Taurus Tool & Engineering is a US-based precision custom cutting and power tools manufacturer. Asia-Pacific was the largest region in the power tools market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the power tools market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the power tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The power tools market consists of sales of demolition hammers, chopsaws, angle grinders, miter Saw. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The power tools market research report is one of a series of new reports from The Business Research Company that provides power tools market statistics, including power tools industry global market size, regional shares, competitors with a power tools market share, detailed power tools market segments, market trends and opportunities, and any further data you may need to thrive in the power tools industry. This power tools market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Machine tools, also referred to as stationary power-driven equipment, are used to shape or create pieces made of metal or other materials. These are used for cutting, boring, grinding, shearing, and also used for deformations. The main types of machine tools are milling machines, drilling machines, turning machines, grinding machines, electrical discharge machines, and others. The milling machines tools are referred to as multi-purpose machines that can mill and turn materials as well. A milling machine is a circular tool that has several cutting edges symmetrically arranged all over it. This machine is used for flat and irregularly shaped surfaces. These are used to drill, bore, and cut gears. The different automation types include CNC machine tools and conventional machine tools which are distributed by several sales channels, including direct, and indirect. It is employed in various industries such as automotive, aerospace and defense, construction equipment, power and energy, industrial, and others. The global machine tools market is segmented - 1) By Product Type: Milling Machines, Drilling Machines, Turning Machines, Grinding Machines, Electrical Discharge Machines, Other Product Types 2) By Automation Type: CNC Machine Tools, Conventional Machine Tools 3) By Sales Channel: Direct, Indirect 4) By Industry: Automotive, Aerospace and Defense, Construction Equipment, Power and Energy, Industrial, Other Industries The global machine tools market size grew from $87.72 billion in 2022 to $93.41 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The market size of global machine tools market is expected to grow to $112.58 billion in 2027 at a CAGR of 4.8%. The growing manufacturing industry is expected to propel the growth of the machine tools market going forward. Machine tools refer to power devices that are used to process workpieces and act as important equipment in the manufacturing process of mechanical parts. These machines are used for forming, cutting, and joining tools. As a result growth in the manufacturing industry will increase the demand for machine tools. For instance, in September 2021, according to India Brand Equity Foundation (IBEF), an India based government agency, 2021 India received $30 billion worth of foreign direct investments which increased to 15% when compared to previous years and also in the same year, the government approved the production-linked incentive (PLI) scheme worth $3.53 billion for the manufacturing auto industry and drone industry to boost India’s manufacturing capabilities. Therefore, the growing manufacturing industry is driving the growth of the machine tools market. Major players in the machine tools market are Doosan Machine Tools Co. Ltd., Makino, Georg Fischer, JTKET Corporation, Komatsu NTC Ltd., OKUMA Corporation, Hyundai WIA, Chiron Group SE, Haas Automation Inc., Yamazaki Mazak Corporation, Amada Private Limited, MAG IAS GmbH, GROB-WERKE GmbH and Co. KG, Ace Micromatic Group, Spinner Machine Tools, Dalian Machine Tools Group Corporation, and Electronica Hitech Engineering Pvt. Ltd. New product innovations have emerged as the new key trend gaining popularity in the machine tools market. Major companies operating in the machine tools market focused on new product innovations to sustain their position in the market. For instance, in June 2022, LMW Machine Tool Division, an India-based automation machinery manufacturing company, launched 2 new machines – the JG 50 Vertical Machining Center and LF20C Twin G Twin Turret Chucker, and showcased 3 latest machines and machining solutions at INTEC 2022 exhibition held in Coimbatore. The unique features of the JG 50 Vertical Machining Center include very high acceleration of greater than 1G and spindle speed up to 16,000 rpm. LF20C Twin G Twin Turret Chucker has dual spindles and dual turrets which indicate it has 2 CNC Turning Centers combined into one machine. In April 2021, EMAG Group, a Germany-based provider of the latest technological advances to optimize a manufacturing solution for every customer’s requirement acquired Samputensili Machine Tools for an undisclosed amount. With this acquisition, EMAG is broadening its area of technologies by adding gear production processes such as shaving, tooth flank grinding, gear shaping, profile grinding, and generating grinding. Samputensili Machine Tools is an Italy-based company that specializes in producing high-quality gear cutting tools. Asia-Pacific was the largest region in the machine tools market share in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global machine tools market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the machine tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The machine tools market consists of sales of lathes and boring mills, shapers and planers, drilling machines, power saws, and presses. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The machine tools market research report is one of a series of new reports from The Business Research Company that provides machine tools market statistics, including machine tools industry global market size, regional shares, competitors with a machine tools market share, detailed machine tools market segments, market trends and opportunities, and any further data you may need to thrive in the machine tools industry. This machine tools market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Offshore drilling rigs are large structure built to facilitate extraction, processing, and storage of oil and natural gas. These rigs are used for drilling wells, extracting and processing oil and natural gas, and temporarily storing products until landing for refining and sale. The main types of offshore drilling rigs are jackups, semisubmersibles, drill ships, and other types. The jackups refer to a self-contained drilling rig and floating barge with lengthy support legs that may be independently raised and lowered. With its legs up and the barge part floating in the water, the jackup is pulled to its destination. The different applications include shallow water, deepwater, and ultra-deep water. The global offshore drilling rigs market is segmented – 1) By Type: Jackups, Semisubmersibles, Drill Ships, Other Types 2) By Application: Shallow Water, Deepwater, Ultra-Deep Water The global offshore drilling rigs market size will grow from $85.36 billion in 2022 to $92.83 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The offshore drilling rigs market size is expected to grow to $121.24 billion in 2027 at a CAGR of 6.9%. An increase in the number of exploratory wells is expected to propel the growth of the offshore drilling rigs market. Exploratory wells are deep test holes dug by oil and gas exploration companies both onshore and offshore to uncover proven reserves of recoverable gas and oil. For instance, in March 2021, according to a press release published by RYSTAD Energy, a Norway-based independent energy research and business intelligence company, offshore drilling activity is expected to increase year on year by about 10% in both 2021 and 2022. This will bring the number of offshore wells drilled to nearly 2,500 in 2021, from less than 2,300 in 2020, and forecast that the corresponding number for 2022 will surpass 2,700. Therefore, the increase in the number of exploratory wells is driving the growth of the offshore drilling rigs market. Major players in the offshore drilling rigs market are Samsung Heavy Industries Co. Ltd., Loadmaster Universal Rigs Inc., Rowan Companies, Keppel Corporation Limited, Irving Shipbuilding Inc., Hyundai Heavy Industries Co. Ltd., Friede & Goldman Ltd., Schlumberger, and TRINIDAD DRILLING LTD. Advancement in technology is a key trend gaining popularity in the offshore drilling rigs market. Major companies operating in offshore drilling rigs are adopting advanced technologies to strengthen their position in the market. For instance, in December 2021, Maersk Drilling, a Denmark-based drilling-rig operator has developed RigFlow, an innovative digital product, that has revolutionized how the drilling sector orchestrates operations. RigFlow digitalizes the information flow between the well plan and rig operations, allowing everyone involved to work more efficiently and transparently using real-time plans and operational instructions. It's being used on a variety of rigs by a variety of operators. In April 2022, Keppel Corp., a Singapore-based manufacturer of offshore rigs merged with Sembcorp Marine. With the help of the merger, the combined business will look for prospects in renewable energy. Sembcorp Marine is a Singapore-based marine and offshore engineering company specializing in oil rig construction. North America was the largest region in the offshore drilling rigs market in 2022. Middle East and Africa are expected to be the fastest growing regions in the forecast period. The regions covered in the offshore drilling rigs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the offshore drilling rigs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The offshore drilling rigs market consists of sales of barges, submersibles, platforms, jackups, and floaters. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The offshore drilling rigs market research report is one of a series of new reports from The Business Research Company that provides offshore drilling rigs market statistics, including offshore drilling rigs industry global market size, regional shares, competitors with a offshore drilling rigs market share, detailed offshore drilling rigs market segments, market trends and opportunities, and any further data you may need to thrive in the offshore drilling rigs industry. This offshore drilling rigs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Connected mining refers to a process that uses variously integrated and, indeed, connected mining solutions to manage industrial mining operations more efficiently. Connected mine is a multi-value solution that makes use of mobile, tracking, analytics, and cloud technology. The main types of connected mining market components are solutions and services. Solutions are used in plant and mine operations, industrial safety and security, mobile fleet operations, and workforce enabled. A solution is an offering that uses a product that is customized for each client to address a particular or common issue. The services are professional and managed. The various solutions are asset tracking and optimization, industrial safety and security, analytics and reporting, process control, operational performance, and quality optimization solutions. The various automated types of equipment are driller and breaker, load haul dump, mining excavator, and robotic truck. The various end users are engineering and maintenance, consulting services, production training service, and implementation and integration service. The global connected mining market is segmented - 1) By Component: Solution, Services 2) By Service: Professional Services, Managed Services 3) By Solution: Asset Tracking and Optimization, Industrial Safety and Security, Analytics and Reporting, Process Control, Operational Performance, Quality Optimization Solutions 4) By Automated Equipment: Driller and Breaker, Load Haul Dump, Mining Excavator, Robotic Truck 5) By End Users: Engineering and Maintenance, Consulting Services, Production Training Service, Implementation and integration Service The global connected mining market size will grow from $12.24 billion in 2022 to $14.12 billion in 2023, at a compound annual growth rate (CAGR) of 15.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the connected mining is expected to grow to $24.63 billion in 2027 at a CAGR of 14.9%. Increasing demand for digitalization is expected to propel the growth of the connected mining market going forward. Digitalization is the transition to a digital business that involves the use of digital technologies to alter a business model and offer new revenue and value-producing opportunities. Digitalization in connected mining involves the usage of advanced technology such as mixed reality, automation, IoT-driven temperature sensors, and others. For instance, in November 2021, according to the Digital Business Research 2021 report published by Foundry, a US-based provider of information services, 91% of businesses had adopted or intended to adopt a digital-first business strategy, which is consistent with the 2019 results. Companies in the integration stage increased from 18% to 22%, and those in the digital maintenance stage went from 6% to 8% in 2019. A "digital-first" strategy has already been adopted by 52% of organizations overall. Therefore, the increasing demand for digitalization is driving the connected mining market growth. Major players in the connected mining market are ABB, IBM, SAP SE, Cisco Systems Inc., Schneider Electric, Komatsu Ltd., Hexagon AB, Hitachi Ltd., Rockwell Automation, Trimble Inc., Siemens AG, Howden, Accenture Plc, Wipro Limited, Mine Site Technologies Pty Limited, Eurotech Communication, GE Digital, Symboticware Inc., IntelliSenseio, Zyfra, Axora, Groundhog Technologies, and AVA Solutions. Technology advancements are a key trend gaining popularity in the connected mining market. Major companies operating in the market are developing new technologies, such as smart monitoring systems that are connected to cloud servers, to sustain their position in the market. For instance, in September 2021, Hexagon AB, a Sweden-based provider of information technology solutions, introduced Power of One a life-of-mine smart solution that connects sensors, software, and infield apps. This helps to connect the mine to the boardroom through a single onboard ecosystem comprising a smart computer, an antenna, and a display. By using cloud servers mine data is automatically stored in the systems and can be easily accessible. It also reduces the complexity of the supply chain and increases operator adoption. In January 2022, Hexagon AB, a Sweden-based information technology company, acquired Minnovare for an undisclosed amount. With the acquisition, Hexagon will provide innovative technologies to improve the accuracy, cost, and speed of underground drilling. The acquisition strengthens Hexagon’s formidable drill and blast portfolio while also accelerating and enhancing its underground development roadmap. Minnovare is an Australia-based mining technology company that offers drilling technology services. North America was the largest region in the connected mining market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the connected mining market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The connected mining market consists of revenues earned by entities by providing connected mining for surface and underground mining enabling companies to gather data to gain complete visibility of their operations and to make wise business decisions that help to enhance mining operations. The market value includes the value of related goods sold by the service provider or included within the service offering. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The connected mining market research report is one of a series of new reports from The Business Research Company that provides connected mining market statistics, including connected mining industry global market size, regional shares, competitors with a connected mining market share, detailed connected mining market segments, market trends and opportunities, and any further data you may need to thrive in the connected mining industry. This connected mining market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Managed pressure drilling (MPD) is a drilling technique that uses a closed and pressurized circulating system to provide precise pressure control of the wellbore. They are carried out by lowering the flow conditions to maintain the pressure of the lower holes by the pressure of the pore model. Managed pressure drilling is used to control annular pressure while drilling the working surface and adjusting the entry-level and mud weight during the drilling process. The main managed pressure drilling services technologies include constant bottom hole pressure (CBHP), mud cap drilling (MCD), dual gradient drilling (DGD), and return flow control drilling (RFCD). Constant bottom hole pressure manages the bottom hole pressures required in drilling under high-pressure conditions. The tools used are rotating control device (RCD), non-return valves (NRV) and choke manifold systems. The applications of managed pressure drilling services include onshore and offshore. The global managed pressure drilling services market is segmented – 1) By Technology: Constant Bottom Hole Pressure (CBHP), Mud Cap Drilling (MCD), Dual Gradient Drilling (DGD), Return Flow Control Drilling (RFCD) 2) By Tool: Rotating Control Device (RCD), Non-Return Valves (NRV), Choke Manifold Systems 3) By Application: Onshore, Offshore The global managed pressure drilling services market size will grow from $3.7 billion in 2022 to $3.93 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global managed pressure drilling services is expected to grow to $4.87 billion in 2027 at a CAGR of 5.5%. Growing energy demand is expected to significantly contribute to the growth of the managed pressure drilling services market. An increase in energy demand due to increasing industrial activity and advances in both developing and developed countries will result in increased extraction and drilling activities, thereby driving the market. For instance, according to the 2021 International Energy Agency (IEA) report, global energy consumption increased by 4.6% in 2021, which was higher than in 2019 and 2020 across the world. Therefore, growing energy demand drives the growth of the managed pressure drilling services market going forward. Major players in the managed pressure drilling services market are Schlumberger Limited, Weatherford International PLC., Nabors Industries Ltd., Ensign Energy Services, Halliburton Inc., National Oilwell Varco, Air Drilling Associates Inc., Beyond Energy Services & Technology, AFGlobal Corporation, Enhanced Drilling Services, Oilserv, Archer Well Services, Frontier International, ADS Services LLC, WellSpec and Aker Solutions. Technological advancements have emerged as a key trend gaining popularity in the managed pressure drilling services market. Major companies operating in the drilling services sector are focused on developing new technological solutions such as FlexJoint technology in drilling activities to strengthen their position in the market. For instance, in May 2022, OIL STATES INDUSTRIES, a US-based company providing integrated energy systems and solutions, introduced new Managed Pressure Drilling and Riser Gas Handling ("MPD" and "RGH") System, which integrates managed pressure drilling and riser gas handling into the deepwater drilling riser in order to unlock greater speed, economy, performance and safety. The system also promotes long bearing life with FlexJoint technology to further decrease maintenance requirements and includes key features that remove workers from the red zone to significantly and thereby increase safety. In October 2020, Chevron Corporation, a US-based oil and natural gas exploration and production company, acquired Noble Energy for an undisclosed amount. This acquisition would provide Chevron Corporation with low-cost, proven gas reserves and desirable undeveloped oil and natural gas resources. Moreover, this acquisition will also strengthen Chevron's position in the Eastern Mediterranean region and the United States. Noble Energy is a US-based energy company engaged in hydrocarbon exploration. North America was the largest region in the managed pressure drilling services market in 2022. The regions covered in the managed pressure drilling services market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the managed pressure drilling services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The managed pressure drilling services market includes revenues earned by entities by providing services such as Halliburton, archer well services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The managed pressure drilling services market research report is one of a series of new reports from The Business Research Company that provides managed pressure drilling services market statistics, including managed pressure drilling services industry global market size, regional shares, competitors with a managed pressure drilling services market share, detailed managed pressure drilling services market segments, market trends and opportunities, and any further data you may need to thrive in the managed pressure drilling services industry. This managed pressure drilling services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Oilfield services refer to the services that support onshore and offshore oil and gas extraction and production processes. These services are used to construct, complete, and produce oil and gas wells and are also used to construct, complete, and produce oil and gas wells. The main service types of oilfield services are subsea services, seismic services, drilling services, workover and completion services, production equipment, processing and separation services, and other service types. Seismic services refer to a method of investigating underground properties and rock patterns using induced shock wave reflections. The types are equipment rental, field operation, and analytical and consulting services. The various applications involved onshore and offshore. The global oilfield services market is segmented - 1) By Service Type: Subsea Services, Seismic Services, Drilling Services, Workover and Completion Services, Production Equipment, Processing and Separation Services, Other Service Types 2) By Type: Equipment Rental, Field Operation, Analytical and Consulting Services 3) By Application: Onshore, Offshore The global oilfield services market size will grow from $180.32 billion in 2022 to $192.1 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the oilfield services is expected to grow to $241.41 billion in 2027 at a CAGR of 5.9%. Increasing shale gas extraction is expected to propel the growth of the oilfield services market going forward. Shale gas refers to natural gas that has been trapped inside shale rocks. Oilfield services such as directional drilling and hydraulic fracturing have increased shale gas production from such important sources. For instance, in March 2022, according to the Energy Information Administration Report, a US-based government agency, shale volumes in March were at 8.591 million b/d and grew to 8.708 million b/d in April, which has been driven by an increase in the Permian Basin. Therefore, the increasing shale gas demand is driving the growth of the oilfield services market. Major players in the oilfield services market are Schlumberger Limited, Baker Hughes GE, Halliburton Company, Weatherford International PLC., China Oilfield Services Limited (COSL), Basic Energy Services Inc., Superior Energy Services Inc., Transocean Ltd., National Oilwell Varco, Saipem Spa, Petrofac Limited, Trican Well Services Ltd., Oil States industries, The Emerson Electric Company, Welltec Oilfield Services Pvt Ltd., Weir Oil & Gas Inc., and TechnipFMC plc. Technological advancements are a key trend gaining popularity in the oilfield services market. Major companies operating in the oilfield services market are focused on developing new technological solutions to strengthen their position. For instance, in July 2021, Saipem, an Italy-based company operating in oilfield services, launched SUISO, a technological solution for the production of green hydrogen, thus confirming its commitment to support its clients in the energy transition. This solution would combine various renewable energy sources such as floating wind, floating solar and marine energy in a single system to power, together or individually, electrolyzes installed on existing offshore platforms for the production of green hydrogen. The oxygen resulting from this process is used in various areas, such as aquaculture or seaweed production. In September 2021, Schlumberger Ltd., a US-based company operating in oilfield services, acquired Independent Data Services for an undisclosed amount. Through this acquisition, Schlumberger aims to enhance the industry's first cloud-based end-to-end drilling solution, which also adds the only automated reporting software to Schlumberger's digital drilling offering. Independent Data Services is a Malaysia-based company operating in the oilfield services. North America will be the largest region in the oilfield services market in 2022. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in this oilfield services market market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the oilfield services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The oilfield services market includes revenues earned by entities by providing services such as drilling and formation evaluation, well construction, and completion services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The oilfield services market research report is one of a series of new reports from The Business Research Company that provides oilfield services market statistics, including oilfield services industry global market size, regional shares, competitors with an oilfield services market share, detailed oilfield services market segments, market trends and opportunities, and any further data you may need to thrive in the oilfield services industry. This oilfield services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The downhole tools are the tools that are used during well drilling, completion, and intervention or well workover activities and helps oil well in optimizing the production levels and maintain a continuous flow from the reservoir. The primary purpose of downhole tools is to carry out workover operations and well completion process as well as examine the reservoir properties such as rock, sand, and liquid by bringing their sample to the well surface. The main types of downhole tools are drilling tools, pressure and flow control tools, handling tools, impurity control tools, other types. A drilling machine is a type of machine in which holes are made on the workpiece by making use of a rotating tool called a drill bit or twist drill. The downhole tools are available by the onshore and offshore locations that are used for good drilling, well completion, well intervention, well production, formation, and evaluation applications. The global downhole tools market is segmented - 1) By Type: Drilling Tools, Pressure and Flow Control Tools, Handling Tools, Impurity Control Tools, Other Types 2) By Location: Onshore, Offshore 3) By Application: Well Drilling, Well Completion, Well Intervention, Well Production, Formation and Evaluation The global downhole tools market size will grow from $5.29 billion in 2022 to $5.57 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of downhole tools market is expected to grow to $6.63 billion in 2027 at a CAGR of 4.4%. The rising oil and gas consumption is expected to propel the growth of the downhole tools market going forward. The rising demand for oil and gas in form of automotive fuel and household cooking owing to rapidly rising levels of population. The downhole tools are used for drilling or extraction of minerals. Therefore, the increase in the consumption of oil & gas will require the extraction of more minerals, which will eventually increase the growth of downhole tools. For instance, according to U.S. Energy Information Administration, the U.S. Federal Statistical System responsible for collecting, analyzing, and disseminating energy information, it is estimated that 99.4 million b/d of petroleum and liquid fuels were consumed globally in 2022, up by 1.6 million b/d from 2021. They forecast that global consumption will rise by an average of 2.1 million b/d for all of 2022 and by an average of 2.0 million b/d in 2023. Therefore, rising oil and gas consumption is driving the demand for the downhole tools market. Major players in the downhole tools market are Schlumberger Limited, Halliburton Company, Baker Hughes Company, Weatherford International plc, National Oilwell Varco Inc., United Drilling Tools Ltd., Schoeller-Bleckman Sales, Logan Oil Tools Inc., Ulterra Drilling Technologies L.P., Wenzel Downhole Tools Ltd., Oil States International Inc., RPC Inc., APS Technology Inc., Flotek Industries Inc., and TechnipFMC. Technological innovation is the key trend gaining popularity in the downhole tools market. Major companies operating in the downhole tools market are focused on developing new and innovative products to sustain and strengthen their market position. For instance, in May 2020, Ace Oil Tools, a Norway-based downhole technology company launched a new Ace Splice Clamp, a sub-less downhole product that protects the control lines during completion. The Ace Splice Clamp accommodates a flat-pack control line assembly and combines the functionality of a shrouded crimp clamp for fastening flatpacks with a splice sub into a single device. Because the ASC takes a "one design fits all" approach, operators can employ different vendors to get the different items they need while still using the ASC to store all possible combinations. On damp and dry trees, the ASC can be applied above tube hangers as well as below them. The Annulus Safety Valve, Downhole Safety Valves, Interval Control Valves, packers, and more can all be deployed underneath it. In December 2020, Rival Downhole Tools, a Texas-based downtown tools manufacturer, acquired Hunting Energy Services (Drilling Tools), Inc., for an undisclosed amount. Through this acquisition, Rival Downhole Tools will supply a full range of downhole tools and expand in different markets and product portfolios. Hunting Energy Services (Drilling Tools), Inc., is a US-based downtown tools manufacturer. North America was the largest region in the downhole tools market in 2022. Asia-Pacific was the second-largest region in the downhole tools market. The regions covered in the downhole tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the downhole tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The downhole tools market consists of revenues earned by entities by completion tools, downhole control tools, and logging tools. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The downhole tools market research report is one of a series of new reports from The Business Research Company that provides downhole tools market statistics, including downhole tools industry global market size, regional shares, competitors with downhole tools market share, detailed downhole tools market segments, market trends, and opportunities, and any further data you may need to thrive in the downhole tools industry. This downhole tool market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The autonomous mining equipment and vehicles market consists of sales of autonomous mining equipment and vehicles by entities (organizations, sole traders, partnership) that can sense the environment and navigate on the mine haul road surface without any human intervention. Autonomous equipment and vehicles function with minimal human intervention and primarily help in the safe mining and transportation of ores and other materials. The main technologies of autonomous mining equipment and vehicles are surface mining techniques and underground mining techniques. The equipment used is a smart ventilation system, an autonomous hauling truck, pumping stations, an autonomous drilling rig, an underground LHD loader, tunneling equipment, and other equipment. The applications involved are metal mining, mineral mining, coal mining, and others. The global autonomous mining equipment and vehicles market size is expected to grow from $2.6 billion in 2021 to $2.94 billion in 2022 at a compound annual growth rate (CAGR) of 13.1%. The global autonomous mining equipment and vehicles market size is expected to grow to $4.09 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%. Rising concerns regarding miners' safety are driving the growth of the autonomous mining equipment and vehicle market as more autonomous mining equipment is employed to minimize human intervention and thereby reduce accidents. Mining is a dangerous profession with hazards such as fires, flooding, mine collapses, and health risks such as respiratory diseases, hearing loss, musculoskeletal disorders, and heat stress. Introducing autonomous equipment such as robotic loaders, laser sensors, and driverless trucks can help improve worker safety. For instance, mining company Rio Tinto is using 73 driverless trucks in four of its iron mines in Australia to improve worker safety. Therefore, the rising concerns regarding miners' safety are expected to propel the growth of the autonomous mining equipment and vehicles market. Autonomous mining equipment manufacturers are increasingly investing in technologies for electrification of mining equipment to reduce costs and emissions. Mining companies are required to invest heavily in equipment and maintenance to remove exhaust gases and heat generated by underground mining equipment. According to EY, a typical underground mine is ventilated by 500 to 1,000 cubic meters per second of fresh air, and the mechanical refrigeration needed to remove diesel equipment heat has an upfront cost of $30 million to $38 million and annual electricity costs of $0.75 million to $2.2 million. These high investment and maintenance costs can be avoided by using autonomous mining equipment that uses electricity as its source of energy. In June 2020, Caterpillar Inc, a US-based construction machinery and equipment company acquired Marble Robot Inc. for an undisclosed amount. The acquisition is part of Caterpillar’s automation and autonomy strategy and demonstrates its commitment to the next generation of Jobsite solutions. Marble Robot, Inc. is a US-based robot and autonomy technology solutions company. Major players in the autonomous mining equipment and vehicles market are Caterpillar, Hitachi Ltd., Komatsu, Sandvik, and Atlas Copco. The regions covered in the global autonomous mining equipment and vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the autonomous mining equipment and vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The global autonomous mining equipment and vehicles market is segmented - 1) By Technology: Surface Mining Technique, and Underground Mining Technique 2) By Equipment: Smart Ventilations System, Autonomous Hauling Truck, Pumping Stations, Autonomous Drilling Rig, Underground LHD Loader, Tunneling Equipment, and Others 3) By Application: Metal Mining, Mineral Mining, Coal Mining, Others