Global Directional Drilling Services Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
“Global Directional Drilling Services Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz. The global directional drilling services market report has been segmented on the basis of type, application, services, and region.
Directional Drilling Services Market: Overview
Directional drilling is a process of drilling a well for placing the wellbore precisely to get maximum recovery from onshore and offshore. This type of drilling is used to cover large areas by the use of the single rig. Directional drilling services has many advantages that make it a widely used process. With an advancement of technology directional drilling has become more efficient.
Directional Drilling Services Market: Dynamics
Growing energy consumption and rising onshore and offshore drilling activities are key factors expected to drive growth of the global market over the forecast period. In addition, increasing oil & gas exploration and production (E&P) activities and research and development activities to deliver innovative software drilling technologies such as navigator directional platform across the globe are other factors also expected to fuel growth of the target market over the forecast period. In addition, increasing demand for deep and ultra-deep water oil and gas reserves along with rapid urbanization and industrialization is also expected to bolster growth of the target market.
However, increasing focus on renewable energy sources may hamper demand for conventional oil crude oil resources and subsequently directional drilling services which may restrain growth of the target market.
Directional Drilling Services Market: Segment Analysis
Global market is segmented on the basis of type, application, services, and geography.
By type, the global market is segmented into conventional and rotary steerable system. Rotary steerable system (RSS) segment is expected to hold significant share in the market over the forecast period. Factors such as cost-effectiveness and improved drill performance, increases the usage of rotary steerable system.
By application, the directional drilling services market has been classified based on the segments, namely, onshore & offshore. onshore application segment contributes major share to the target market.
By services, global market is segregated into logging-while-drilling (LWD), measurement-while-drilling (MWD) & survey, and motors (MUD Motors). Measurement While Drilling (MWD) & survey segment is the fastest growing segment of the directional drilling services market.
Directional Drilling Services Market: Regional Analysis
Currently, the market in North America accounts for largest market share in terms of revenue as compared to that of markets in other regions. This dominance can be attributed to shale gas revolution and increase in exploration and production activities in the Gulf of Mexico as well as other countries in the region. Moreover, Technological advancements such as long horizontal wellbores and other completion techniques are fueling the growth of directional drilling market in the region.
According to the report published by US Energy Information Administration, in 2016, hydraulically fractured horizontal wells accounted for in 69% of all oil and natural gas wells drilled in America.
The market in the Asia Pacific and Middle East, expected to register significant growth in the target market over the forecast period, owing to increasing production and exploration activities, new discoveries in oilfield, increasing investments are some of the factors plays an important role for growth of the market.
In July 2017, Saudi Aramco – Saudi Arabian Oil Company– announced an investment of US$ 300 Bn in the oil & gas sector over the next decade, which is expected to enhance demand for the target market.
Directional Drilling Services Market Segmentation:
Segmentation by Type:
- Rotary Steerable System
Segmentation by Application:
Segmentation by Services:
- Logging-While-Drilling (LWD)
- Measurement-While-Drilling (MWD) & Survey
- Motors (MUD Motors)
- Others (automated drilling systems, well bore positioning, side tracking, hydraulics, well planning, drag analysis, and torque)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Baker Hughes Incorporated
- Halliburton Company
- Schlumberger Limited
- Weatherford International PLC.
- National Oilwell Varco, Inc.
- Nabors Industries Ltd.
- Cathedral Energy Services Ltd.
- Jindal Drilling & Industries Limited
- Scientific Drilling International
- Leam Drilling Systems, LLC
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