Directional Drilling 2018 Market Size, Industry New Tech Developments, Growth by Leading International Manufacturers & Regional Outlook from 2018 To 2023

Market Highlights:-

Discoveries in oil and gas industry along with shale activities and increasing demand for energy and fuel from the growing nations complementing from increased globalization and urbanization are leading drivers of directional drilling market. In 2015, trenchless Engineering Services Pvt. Ltd. installed horizontal direction drill for a gas pipeline, which was laid to a depth of 140 meters below the surface level. However, the low price trends have restrained the projects for directional drilling and many projects had been paused, which are expected to start with recovering oil prices.

According to a recent study report published by the Market Research Future, The global market of directional drilling is booming and expected to gain prominence over the forecast period. The global directional drilling market is forecasted to demonstrate an exponential growth by 2027, surpassing its previous growth records in terms of value with a whooping, CAGR during the estimated period (2018 – 2027).

Directional Drilling Global Market - Competitive Analysis

Characterized by the presence of several well-established and small players, the global Market of Directional Drilling appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, and services. Vendors operating in the market strive to deliver the best quality services based on innovative technologies, and best practices. These Key Players make a substantial investment for R&D and to secure a guaranteed resource for the customers. Directional Drilling market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.

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Industry Top Key Players:-

The key players in directional drilling market are Baker Hughes Incorporated (U.S.), National Oilwell Varco (U.S.), Weatherford International Plc. (U.S.), Schlumberger Ltd (U.S.), and Halliburton Company (U.S.). Nabors Industries Ltd (Bermuda), Cathedral Energy Services Ltd (Canada), Jindal Drilling & Industries Limited (India), and Gyrodata Incorporated (U.S.) are among others.

Segmentation:

Based on land, the market has been segmented into onshore and offshore. Onshore dominates the technology segment of global Directional Drillings market. Directional drilling is used in more onshore applications due to the high number of maturing fields. Offshore segment is expected to be the fastest growing segment during the forecast period.

On the basis of type, the market has been segmented into Directional boring, horizontal directional drilling, and oilfield directional drilling.

Based on Services, the market has been segmented into Rotary Steerable Systems, LWD, MWD and Motors. Rotary steerable directional drilling services segment is expected to grow significantly during the forecast period. It is primarily driven by factors like the rising need to access difficult reservoirs. Advantages like high efficiency and lower overall costs of directional drilling foster growth in this segment.

Segmentation by Region: Comprises Geographical regions - North America, Europe, Asia Pacific, Middle East & Africa and South America.

Major Points From Table Of Content:-
Table Of Contents

1 Executive Summary

2 Market Introduction

2.1 Definition

2.2 Scope Of The Study

3 Market Insights

4 Research Methodology

4.1 Research Process

4.2 Primary Research

5 Market Dynamics

5.1 Introduction

5.2 Drivers

To be continued.......

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Global Directional Drilling Market - Regional Analysis:

North America dominates the Directional Drillings market. The U.S. accounts for the largest market share in the North American region. The advancements in unconventional drilling technologies, which have attracted capital for oil and gas drilling projects. Additionally, Vast hydrocarbon resources in the U.S. Shale basins and continuous offshore drilling in the Gulf of Mexico region, are driving the demand of the market.

Asia Pacific is the second largest market for the Directional Drillings and is expected to grow at a highest CAGR during the forecast period. Increasing demand for energy due to urbanization & industrialization from the countries such as India, China, and Indonesia among others driving the demand of the market.

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This release was published on openPR.