Directional Drilling Services Market is Expected to Reach US$ 33.87 Bn by the End of 2031-Baker Hughes Incorporated, Halliburton Company, Schlumberger Limited, Weatherford International PLC., National Oilwell Varco, Inc., GE Oil & Gas, Nabors Industries L

Directional Drilling Services Market projected to reach USD 33.87 billion by 2032, at a CAGR of 11.3% during the forecast period. The directional drilling services market size was USD 13.38 billion in 2021. Rising demand for various tools and equipment used in the oil and gas industry across the globe, along with increasing discoveries of new bulk potential reservoirs, is expected to spur the demand of the market

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By Application, Onshore segment is expected to dominate the Directional Drilling Services market during the forecast period
The report segments the Directional Drilling Services, by application, into onshore and offshore applications. The onshore application is expected to hold the largest market share by 2021. The market is driven by the high number of maturing onshore wells across global regions. North America is the key market for onshore applications because of increasing shale gas production in the US and due to well intervention activities in its shale basin regions.

By Type, the rotary steerable system segment is expected to grow at the highest CAGR during the forecast period
The rotary steerable system segment is expected to grow at the highest rate during the forecast period. The market growth in this segment can be attributed to the need for remote steering which provides improved trajectory control resulting in reduced drilling time and smoother well bores.

By Service Type, Measurement-While-Drilling (MWD) & Survey segment is expected to grow at the highest CAGR during the forecast period
The Measurement-While-Drilling (MWD) and Survey segment is expected to grow at the highest rate during the forecast period in directional drilling services market by service type. The market growth in this segment can be attributed to the ability to continuously monitor wellbore and the real time directional survey of downhole conditions.

Some of the Major Key players profiled in the study are Baker Hughes Incorporated, Halliburton Company, Schlumberger Limited, Weatherford International PLC., National Oilwell Varco, Inc., GE Oil & Gas, Nabors Industries Ltd., Cathedral Energy Services Ltd., Jindal Drilling & Industries Limited, Gyrodata Incorporated, Scientific Drilling International, Leam Drilling Systems, LLC.

Restraint: Increasing focus on renewable energy
Largest consumers of oil & gas, China and the U.S. along with other countries, are increasing their investments in renewable energy every year to reduce their carbon footprints and dependence on fossil fuels. Global investment in renewable energy increased by 5% from 2014, and reached an all-time high of USD 285.9 billion in 2015. China alone contributed to more than 30% of this investment, followed by the U.S. These are likely to go up in the coming years, directly impacting the growth of thermal and nuclear power plants and restraining the power plant boiler growth.

According to the MENA Solar Energy Report 2014, up to 37,000 MW of new solar, wind, and hydroelectric projects are planned to be commissioned till 2020 worldwide. Solar energy projects will specifically source about 12,000 MW-15,000 MW by 2020. Power generation from renewable energy sources is expected to scale up 40% from 2012 to 2018. According to the BP Energy Outlook, renewable energy sources are expected to overtake natural gas generation by 2016. Meanwhile, the total installed capacity of solar energy was 138 GW in 2013, and 65 GW of capacity is expected to be installed in the next 5 years. Hence, increasing focus on renewable energy sources would decrease dependency on oil & gas, which is likely to affect the oilfield services industry including directional drilling services market.

Opportunity: New oilfield discoveries
New oilfields and reserves has been discovered across the globe in almost every region in 2016. Few of the major discoveries included deepwater offshore field discovery in Senegal, Alpine high in West Texas, U.S., northern Kerio Valley in Kenya, Alaska in U.S., and Golan Heights in Israel, among others. Due to low oil prices, oil field operators have cut back on exploration cost which has led to least number of new oil reserves and field discoveries in 2016 since 1947. However, by 2018, it is expected that oil prices will bounce back to USD 70 per barrel. This will encourage oil field operators and independent exploration companies to start investing in exploration activities to improve their reserve replacement ratio
Global Directional Drilling Services Market Segmentation:

Directional Drilling Services Segmentation by Type:

Logging While Drilling (LWD), Measurement While Drilling (MWD) & survey, Rotary Steerable System (RSS), Motors, Others.

Directional Drilling Services Segmentation by Application:

Onshore, Offshore

Key market aspects are illuminated in the report:

Executive Summary: It covers a summary of the most vital studies, the Global Directional Drilling Services market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.

Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Directional Drilling Services market, the years measured and the study points.

Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.

Manufacture by region: This Global Directional Drilling Services report offers data on imports and exports, sales, production and key companies in all studied regional markets

Market Segmentation: By Geographical Analysis

The Middle East and Africa (GCC Countries and Egypt)
North America (the United States, Mexico, and Canada)
South America (Brazil etc.)
Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)

The cost analysis of the Global Directional Drilling Services Market has been performed while keeping in view manufacturing expenses, labor cost, and raw materials and their market concentration rate, suppliers, and price trend. Other factors such as Supply chain, downstream buyers, and sourcing strategy have been assessed to provide a complete and in-depth view of the market. Buyers of the report will also be exposed to a study on market positioning with factors such as target client, brand strategy, and price strategy taken into consideration.

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Key questions answered in the report include:

who are the key market players in the Directional Drilling Services Market?
Which are the major regions for dissimilar trades that are expected to eyewitness astonishing growth for the Directional Drilling Services Market?
What are the regional growth trends and the leading revenue-generating regions for the Directional Drilling Services Market?
What will be the market size and the growth rate by the end of the forecast period?
What are the key Directional Drilling Services Market trends impacting the growth of the market?
What are the major Product Types of Directional Drilling Services?
What are the major applications of Directional Drilling Services?
Which Directional Drilling Services Services technologies will top the market in next 7 years?
Table of Contents

Global Directional Drilling Services Market Research Report 2022 - 2029

Chapter 1 Directional Drilling Services Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global Directional Drilling Services Market Forecast

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Recent Developments
In November 2016, GE oil & gas will open a new facility in Egypt, in collaboration with General Authority for Investment and Free Zones (GAFI) (Egypt). This facility will disassembly, assembly, repair, and provide maintenance & testing for GE Oil & Gas products. This facility will be operational by mid-2017.
In October 2016, National Oilwell Varco, is developing its closed loop automation system. This system uses intelligent controls to develop its technology. This system is a combination of drilling systems, software application of eVolve™ Optimization Service, NOV Operating System (NOVOS™) and control systems. This system will enhance the operators drilling operations.
In September 2016, Halliburton Company released new drilling motors GeoForce® Endure™ and StrataForce™ Endure™ motors, these motors reduce non-productive time associated with chunking, and enhances the motors reliability in harsh environments.

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