Measurement While Drilling (MWD) Market Size, Status and Global Outlook 2021- National-Oilwell Varco Inc., Halliburton Company, Schlumberger Limited, Baker Hughes Co.

Global Measurement While Drilling (MWD) Market – Growth, Trends, And Forecast (2021 – 2025)

The report presents an in-depth assessment of the Global Measurement While Drilling (MWD) Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Global Measurement While Drilling (MWD) investments from 2021 till 2025.

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The Global Measurement While Drilling (MWD) market is highly competitive and consists of a number of major players. Companies, like National-Oilwell Varco Inc., Halliburton Company, Schlumberger Limited, Baker Hughes Co. and Weatherford International Limited among others.

Scope of the Report

The global measurement while drilling (MWD) market is expected to grow at a CAGR of more than 7% over the period of 2020-2025. Factors such as meeting the expected oil demand in the future for which opportunities lie in offshore deep-sea beds, where oil & gas operators continue to discover new reserves is driving the market. Rising unconventional and deep-water E&P activities, increasing directional drilling activities, and increasing need for higher productivity and efficiency are some of the key factors driving the MWD market. The challenge, however, is volatile crude oil prices which cause delay in oil and gas upstream projects, which in turn is expected to restrain the MWD market during the forecast period.

- The offshore oil and gas industry which accounts for 30% of the global crude oil production, is expected to drive the market and be the largest segment in comparison to onshore.
- The development of deepwater and ultra-deepwater reserves are likely to act as an opportunity in the future.
- North America is the largest and the fastest growing market, led by the United States mainly due to increased exploration and production activities in its tight oil and shale reserves.

Key Market Trends

Offshore Oil and Gas to Dominate the Market

- In 2018, the offshore discoveries represented around 82% of the total discoveries. Additionally, there was a significant growth in the reserve replacement ratio to around 15%, from 11% in 2017.
- The Middle-East, North Sea, Brazil, the Gulf of Mexico, and the Caspian Sea are the major offshore oil and gas producing regions. The deepwater oil production is majorly concentrated in four countries, namely, Angola, Brazil, Nigeria, and the United States.
- The changing economics and the exhaustion of some shallow offshore resources have compelled the producers to shift toward deepwater and ultra-deepwater resources. Moreover, the cost of operation in the offshore locations declined significantly over the past few years, which is encouraging the industry to step up its expenditure gradually in the future.
- In 2018, the Oil and Gas Natural Corporation (ONGC) awarded a USD 1.52 billion contract to Baker Hughes Co., McDermott, and L&T Hydrocarbon (LTHE) for the deep-water development project, KG-DWN-98/2 (Cluster-2), in the Krishna Godavari basin.
- Furthermore, hydraulic fracturing and directional drilling are considered to be one of the best technological combinations to be deployed over the last decade, which has changed the oil & gas drilling landscape in various parts of the world, particularly in North America.
- Over the years, as drilling becomes more complex, and horizontal and directional drills increasing in numbers, well logging methods, such as measurement while drilling (MWD) market is being driven.
- Also, as long as the crude oil price is well above USD 60 per barrel, majority of the new discoveries are expected to witness development in the coming years and drive the demand in the measurement while drilling market.

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The key insights of the Measurement While Drilling (MWD) Market report: 
The report provides status of the Measurement While Drilling (MWD) market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
The Measurement While Drilling (MWD) market report presents the company profile, product specifications, capacity, production value, and 2016-2021 market shares for key vendors.
The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
The report estimates 2021-2025 market development trends of Measurement While Drilling (MWD) Market.
Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out
The report makes some important proposals for a new project of Measurement While Drilling (MWD) Industry before evaluating its feasibility.

Finally, Measurement While Drilling (MWD) Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. Measurement While Drilling (MWD) industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

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