Directional Drilling Market New Opportunities, Segmentation Details With Financial Facts By 2028 | SPX Corporation, Baltimore Aircoil Company Inc., Evapco Inc., Babcock & Wilcox, Delta Cooling Towers, Evapco

The Directional Drilling Market is expected to promise high growth owing to increasing demand from various countries for energy and fuel in recent years. Increasing demand from applications including onshore and offshore is expected to drive the growth of the directional drilling market.

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The process of drilling where the contractors try and change or alter the azimuth or inclination of the drill hole is known as directional drilling. This is achieved using wedging tools or directional drilling tools and by bottom hole assembly selections. To complete the project smoothly, the drilling contractors properly plan a method in order to control or change the drilling holes direction. The drilling contractors use long reaming shells, full hole barrels in the bottom hole assembly selection method to drill hole.

One of the major factors driving the growth of directional drilling market is the sustained high oil prices across the world. With increasing need for higher productivity and efficiency of oil drilling process, there has been an increase in the demand for directional drilling. In addition, maturity of on-shore drilling sites has led to the exploration of numerous untapped off-shore resource sites. Oil and gas companies along with drilling contractors seek to make use of directional drilling to gain higher control on the direction of hole on such new sites.

Key Factors Impacting Market Growth:

o Increasing demand from various countries for energy and fuel
o Increasing oil prices globally
o New offshore resource sites being explored
o Capacity to recover drilling equipment and drilling spear from the hole

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Key Developments:

o In May 2017, Hilong (China) was awarded Pakistan oil service integrated technical service contract from the United Energy Pakistan Limited for 1+8 deep well comprehensive technical services, including directional drilling.
o In June 2017, Schlumberger (US) was awarded a multiwell contract for ISM operations in the Ororo field, including directional drilling services.
o In January 2018, Patterson-UTI Energy (US) announced an agreement to acquire a directional drilling services company, Multi-Shot, LLC.
o In January 2018, the National Iranian Drilling Company secured directional drilling works for the South Pars field phase's 17/18 project in Iran.

Regional Analysis:

North America and Western Europe have been traditional markets for industrial fasteners owing to the strong presence of the industrial sector. The industrial sector has been one of the key contributors to the economies in these regions. Major applications including onshore and offshore.

The Asia Pacific and the Middle East region has witnessed tremendous growth of the industrial sector in recent years. Major companies operating in this market have made strategic developments to improve market presence in these regions. In addition to this, some of the fastest growing economies including China and India have been major markets for various end-use industries including building & construction, automotive, healthcare, manufacturing, and so on.

Companies Covered:

SPX Corporation, Hamon & CIE International SA, Baltimore Aircoil Company Inc., Brentwood Industries, Inc., Spig S.P.A., Evapco Inc., Enexio Management GmbH, Mesan Group, Babcock & Wilcox, Benchmarking, Delta Cooling Towers, Evapco, International Cooling Tower, Paharpur, and Star Cooling Towers

Market Segmentation:

By Type:
o Wet
o Dry
o Hybrid

By Design:
o Natural Draft
o Forced Draft
o Induced Draft

By End User:
o Power Generation
o Petrochemical and Oil & Gas
o Iron & Steel and Metallurgy
o Paper Mills

By Region:

o North America
By Country (US, Canada, Mexico)
By Type
By Design
By End User

o Western Europe
By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
By Type
By Design
By End User

o Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
By Design
By End User

o Asia Pacific
By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
By Type
By Design
By End User

o Middle East
By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
By Type
By Design
By End User

o Rest of the World
By Region (South America, Africa)
By Type
By Design
By End User

Reasons to Buy This Report:

o Market size estimation of the global field-erected cooling tower market on a regional and global basis
o The unique research design for market size estimation and forecast
o Profiling of major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

o By Segment
o By Sub-segment
o By Region/Country

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This release was published on openPR.