Press release
How Drilling Services Market 2021 is Booming Worldwide with Top Leading Players – Siemens, DV8 Technology Ltd, REFLEX NOW, Motive Drilling Technologies, Kearfott Corporation
𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞: https://www.fortunebusinessinsights.com/drilling-services-market-104784
According to the International Energy Outlook 2019 of the US Energy Information Administration (EIA), global energy consumption is set to increase by nearly 50% between 2018 and 2050. The astronomical rise in energy demand, as per the EIA, will be driven by the rapidly developing nations of Asia over the next three decades. Furthermore, the International Energy Agency (IEA) predicts that oil production will keep rising till 2030 and nearly 35% of the energy demand will be met by gas. Drilling services are, therefore, likely to experience soaring demand as governments and private players compete against each other to meet the skyrocketing demand for hydrocarbon-based energy in the forthcoming years.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/drilling-services-market-104784
𝐈𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐬 𝐭𝐡𝐚𝐭 𝐚𝐫𝐞 𝐮𝐧𝐝𝐞𝐫 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠 𝐚𝐧𝐝 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:
• Detailed overview of Drilling Services Market Share
• Changing market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
Competitive landscape of Market
• Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising market growth
𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐢𝐧𝐠 𝐅𝐚𝐜𝐭𝐨𝐫
𝐒𝐡𝐚𝐫𝐩 𝐃𝐞𝐜𝐥𝐢𝐧𝐞 𝐢𝐧 𝐎𝐢𝐥 𝐃𝐞𝐦𝐚𝐧𝐝 𝐚𝐦𝐢𝐝 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐭𝐨 𝐒𝐭𝐚𝐥𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡
The drilling services market growth is confronting unprecedented challenges thrown in its way by the outbreak of the COVID-19 pandemic. According to the IEA, world energy demand dropped by 5% in 2020, with oil demand contracting by 8% and coal demand by 7%. The major reasons for this historic decline in fossil fuel energy sources include the speedy adoption of remote working facilities when the pandemic broke out, nationwide lockdowns, and a sudden dip in electricity demand as commercial spaces were temporarily closed down. The cumulative effects of these developments can be seen on oil prices, which were already volatile due to the Saudi-Russia oil supply war. In April 2020, for instance, crude oil prices went into negative territory on account of the precipitous fall in oil demand. In December 2020, as the new coronavirus strain gripped the world, oil prices dropped by 3%. Weak investments and delays in exploration projects amid the COVID-19 pandemic will, thus, limit the adoption of drilling services in the oil and gas industry.
𝐇𝐚𝐯𝐞 𝐀𝐧𝐲 𝐐𝐮𝐞𝐫𝐲? 𝐒𝐩𝐞𝐚𝐤 𝐓𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/drilling-services-market-104784
𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐊𝐞𝐲 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐀𝐧𝐬𝐰𝐞𝐫𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
• Detailed Overview of Drilling Services Market will help deliver clients and businesses making strategies.
• Influencing factors that are thriving demand and latest trends running in the market.
• Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
• What trends, challenges and barriers will impact the development and sizing of the Global Drilling Services Market?
• SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
• What is the Market growth momentum or market carries during the forecast period?
• Which region may tap the highest market share in the coming era?
• Which application/end-user category or Product Type may seek incremental growth prospects?
• What focused approach and constraints are holding the Drilling Services Market demand?
𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬
𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐎𝐢𝐥 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐒 𝐭𝐨 𝐀𝐢𝐝 𝐭𝐡𝐞 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡
North America is expected to dominate the drilling services market share during the forecast period owing to the rising production level of oil and gas in the US and Canada. Moreover, drilling technologies are being extensively employed in the US to discover shale gas reserves, which will put the US at the forefront of the hydrocarbon industry. In 2019, the North America market size stood at USD 4.93 billion.
In Asia Pacific, the Drilling Services Market is anticipated to experience prolific growth on account of the abundant availability of mineral and metal reserves spread across the region, which will stoke the demand for drilling services. On the other hand, the market in the Middle East and Africa is likely to undergo speedy expansion due to the rich presence of oil reserves in this region.
𝐀𝐬𝐤 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 https://www.fortunebusinessinsights.com/enquiry/customization/drilling-services-market-104784
𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞
𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐭𝐨 𝐂𝐨𝐧𝐜𝐞𝐧𝐭𝐫𝐚𝐭𝐞 𝐨𝐧 𝐎𝐛𝐭𝐚𝐢𝐧𝐢𝐧𝐠 𝐏𝐫𝐨𝐟𝐢𝐭𝐚𝐛𝐥𝐞 𝐃𝐫𝐢𝐥𝐥𝐢𝐧𝐠 𝐂𝐨𝐧𝐭𝐫𝐚𝐜𝐭𝐬
The advanced drilling services and solutions offered by some of the prominent players in this market are enabling these companies to secure highly profitable contracts from diverse entities. These contracts are allowing the players to expand their business and operational horizons and augment their presence in regional markets.
𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:
November 2020:Seadrill Ltd bagged one firm and one optional well contract from Walter Oil and Gas for the Sevan Louisiana semi-submersible rig in the Gulf of Mexico. The deal adds USD 17 million in backlog revenues for Seadrill.
November 2020:Schlumberger released MagniSphere, its innovative, high-definition NMR logging-while-drilling (LWD) service. The inventive offering is designed to deliver precise, real-time analysis for accurate well placement, leading to increased production and recovery in complex sites.
𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
Sumitomo Precision Products Co (Japan)
Siemens (Germany)
DV8 Technology Ltd. (UK)
REFLEX NOW (Australia)
Motive Drilling Technologies (U.S.)
Kearfott Corporation (U.S.)
ION Geophysical (U.S.)
Zupt, LLC (U.S.)
KLX Energy Services (U.S.)
Welltec (Denmark)
International Drilling Services LLC (Oman)
Boart Longyear (U.S.)
The Weir Group PLC (UK)
AlMansoori Specialized Engineering (United Arab Emirates)
Leam Drilling Systems LLC (U.S.)
Petrofac (UK)
Superior Energy Services (U.S.)
VES Survey International (U.S.)
Unitech Drilling Company Limited (Nigeria)
Compass Directional Guidance, Inc. (U.S.)
Oceaneering (U.S.)
TechnipFMC (UK)
Halliburton (U.S.)
Inertial Sensing One AB (Sweden)
Axis Mining Technology (Australia)
Devico AS (Norway)
Stockholm Precision Tools AB (SPT) (Sweden)
Gyrodata (U.S.)
Emerson (U.S.)
Schneider Electric (France)
Erdos Miller (U.S.)
Oliden Technology (U.S.)
Gyro Australia (Australia)
Phoenix Technology Services (Canada)
Center Drill Inc. (U.S.)
Gyro Drilling (Netherlands)
JAE (Japan)
Radial Drilling Services, Inc. (U.S.)
Integra (Russia)
JINDAL DRILLING and INDUSTRIES LTD. (India)
NewTech Services (Russia)
NOV (U.S.)
Huracan Pty Ltd. (Australia)
Baker Hughes (U.S.)
Archer - the well company (Norway)
DIDRILLSA LTDA (Colombia)
Drill Tech Solution (Azerbaijan)
China Oilfield Services Limited (China)
AnTech (UK)
Weatherford (Switzerland)
Nabors Industries (U.S.)
Scientific Drilling (U.S.)
Brownline (Netherlands)
Icefield Tools Corporation (Canada)
Schlumberger (U.S.)
𝐐𝐮𝐢𝐜𝐤 𝐁𝐮𝐲 - 𝐃𝐫𝐢𝐥𝐥𝐢𝐧𝐠 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.fortunebusinessinsights.com/checkout-page/104784
Contact:
Name: Ashwin Arora
Email: sales@fortunebusinessinsights.com
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
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