Global Boring Tools Market Size, Status and Forecast 2020-2026

In this report, the Global Boring Tools market is valued at USD XX million in 2019 and is expected to reach USD XX million by the end of 2026, growing at a CAGR of XX% between 2019 and 2026. Global Boring Tools market has been broken down by major regions, with complete market estimates on the basis of products/applications on a regional basis.

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In machining, boring is the process of enlarging a hole that has already been drilled (or cast) by means of a single-point cutting tool (or of a boring head containing several such tools), such as in boring a gun barrel or an engine cylinder. Boring is used to achieve greater accuracy of the diameter of a hole, and can be used to cut a tapered hole. Boring can be viewed as the internal-diameter counterpart to turning, which cuts external diameters.

Onshore segment is expected to be the largest market for drilling tools, by application, in 2017. Approximately 70% of the total oil and gas production in the world takes places at onshore fields. These fields are easier to operate from an exploration perspective and require less capital investment as compared to offshore fields. Formations in onshore wells are more stable during the drilling process than those in offshore. Market demand for drilling tools from onshore segment is also the fastest-growing. US and China with vast onshore reserves present ample market opportunities in this onshore segment.

Market Analysis and Insights: Global Boring Tools Market

The global Boring Tools market size is projected to reach US$ XX million by 2026, from US$ XX million in 2020, at a CAGR of XX%% during 2021-2026.

Global Boring Tools Scope and Market Size

Boring Tools market is segmented by Type, and by Application. Players, stakeholders, and other participants in the global Boring Tools 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 Type and by Application in terms of revenue and forecast for the period 2015-2026.

The following players are covered in this report:

BIG KAISER

Kennametal

NACHI-FUJIKOSHI

OSG

Sandvik

Boring Tools Breakdown Data by Type

Drill Bits

Drilling Tubulars

Drilling Motors

Drill Reamers and Stabilizers

Drill Collars

Drill Jars

Drill Swivels

Mechanical Thrusters

Boring Tools Breakdown Data by Application

Onshore

Offshore

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