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The Global drilling tools market was valued at US$ 6.50 Bn in 2017 and is expected to reach US$ 9.20 Bn by 2026, at a CAGR of 4.44 % during a forecast period.

An upsurge in oil, exploration and production activities, rising concern towards energy security, advancement in drilling technologies offering better efficiencies and condensed drilling time, easy readiness of suppliers are expected to drive global drilling tools market. Additionally, the surge in shale gas exploration activities in the United States is another factor driving the drilling tools markets.

Increased demand for fabricated metal products, development of heavy equipment industry, and increasing large-scale industrial automation are projected to drive the growth of the global drilling tools market.

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