PUBLISHER: IMARC | PRODUCT CODE: 1801111
PUBLISHER: IMARC | PRODUCT CODE: 1801111
The global drill collar market size reached USD 1.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 1.8 Billion by 2033, exhibiting a growth rate (CAGR) of 3.57% during 2025-2033.
Drill collars refer to thick-walled and heavy-duty industrial tubular components that are utilized with the drill string. They are a crucial part of the bottom hole assembly (BHA) used above the drill bit to put weight on it for drilling into the ground. They are manufactured from solid bars of modified alloy steel, non-magnetic nickel-copper alloy, or other premium alloys. The steel bars are drilled from end to end to provide a passage for drilling and completion fluids through the collars. In contrast to the drill pipe, the drill collar is heavier, thick-walled and works as a shock absorber to dampen the vibrations and impact forces caused by drilling.
With the expanding oil and gas exploration activities, there has been a rise in the number of new oil wells, which, in turn, is augmenting the demand for drill collars across the globe. Besides this, the increasing exploration of unconventional resources, like shale gas, along with investments in the onshore oil and gas industry, are also contributing to the market growth. Furthermore, extensive research and development (R&D) activities to improve the efficiency of drill collars have provided a positive impact on the industry. Moreover, with technological advancements, the leading players are manufacturing spiral drill collars, with grooves machined on the outside surface that prevent the drill string from getting stuck in the hole, while allowing drilling debris and lubricant to pass more freely around the collar.
The report has also analysed the competitive landscape of the market with some of the key players American Oilfield Tools, Challenger International, Halliburton Hunting PLC, International Drilling Services Ltd (IDS), National Oilwell Varco (NOV), Schlumberger, Schoeller-Bleckmann, Vallourec, Weatherford International (Superior Energy Services) and Workstrings International.