Polycrystalline Diamond Compact Cutter Market, By Type (Matrix Body and Steel Body), By Application (Onshore Drilling and Offshore Drilling), By Size (Less than 8mm, 9mm to 16mm, 17mm to 25mm, 26mm to 50mm, and More than 50mm), By Technology (Rolling Cutting Technology, Leaching Technology, Shaped Cutter Technology, and Others (PDC Conical Buttons, etc.)), And By Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa)

Published In : Feb 2023

Code : CMI5571

Pages :135

Formats :

Excel and PDF

Industry : Energy

Market Challenges And Opportunities

Global Polycrystalline Diamond Compact Cutter Market- Drivers:

Rising oil and gas exploration and production

Rising oil and gas exploration and production in the North America region is expected to drive the global polycrystalline diamond compact cutter market growth in near future. Moreover, increasing unconventional development offshore activities in North America will create lucrative opportunity in global polycrystalline diamond compact cutter market growth in the near future.

Rapid shift towards unconventional energy resources such as shale gas

Rapid shift towards unconventional energy resources such as shale gas is expected to fuel the global polycrystalline diamond compact cutter market growth in forecast period. Moreover, advancement in techniques of horizontal drilling and hydraulic drilling that are used for drilling the shale gas is also expected to boost the global polycrystalline diamond compact cutter market growth.

Global Polycrystalline Diamond Compact Cutter Market- Restraints

Government control over oil and gas price

Government control over oil and gas price can hinder the adoption of new technologies in the global polycrystalline diamond compact cutter market. Moreover, high cost of advanced drill bit technology is expected to hinder the global polycrystalline diamond compact cutter market growth in near future.

Dropped prices of crude oil

Due to dropped prices of crude oil in 2015, the oil and gas industry decrease that hampered the global polycrystalline diamond compact cutter market growth. Regular fluctuation in prices of crude oil causes major loss to the operator that slows down the exploration of hydrocarbons, and this can hinder the global polycrystalline diamond compact cutter market growth.