The oil and gas drill bit is a tool (a combination of drill pipe and tools) connected to the bottom of the drill string for digging up earth and rock.
Schlumberger, Baker Hughes and HALLIBURTON together accounted for 70 percent of the market in 2018.

Market Analysis and Insights: Global and China Drill for Oil and Gas Extraction Market
This report focuses on global and China Drill for Oil and Gas Extraction market.
In 2020, the global Drill for Oil and Gas Extraction market size was US$ 2071.1 million and it is expected to reach US$ 3012.9 million by the end of 2027, with a CAGR of 5.5% during 2021-2027. In China the Drill for Oil and Gas Extraction market size is expected to grow from US$ XX million in 2020 to US$ XX million by 2027, at a CAGR of XX% during the forecast period.

Global Drill for Oil and Gas Extraction Scope and Market Size
Drill for Oil and Gas Extraction market is segmented by region (country), players, by Type, and by Application. Players, stakeholders, and other participants in the global Drill for Oil and Gas Extraction market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type and by Application in terms of revenue and forecast for the period 2016-2027.
For China market, this report focuses on the Drill for Oil and Gas Extraction market size by players, by Type, and by Application, for the period 2016-2027. The key players include the global and local players which play important roles in China.

Segment by Type
Fixed Cutting Edge Drill
Cone Drill
The segment cone drill of holds a comparatively larger share in global market, which accounts for about 82%.

Segment by Application
Overland
Marine
The overland holds an important share in terms of applications, and accounts for 61% of the market share.

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE

By Company
Schlumberger
Baker Hughes
HALLIBURTON
NOV
Varel InternationalVarel International
Drilformance
Sinopec Oilfield Equipment Corporation