Press release
Horizontal Directional Drilling Market Size Worth US$ 12.47 Billion by 2027 | Growth Rate (CAGR) of 6.10%
Horizontal Directional Drilling Market
The latest research study "Horizontal Directional Drilling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global horizontal directional drilling market reached a value of US$ 8.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 12.47 Billion by 2027 exhibiting a CAGR of 6.10% during 2022-2027.
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Horizontal directional drilling (HDD) is a trenchless drilling technique employed for digging horizontal bores using steerable motor assemblies. It relies on beamers, bites, rigs, and pipes to install underground pipelines, electrical semiconductors, service conduits, and cables and drill accurately along the chosen bore path. It helps to improve overall efficiency, flexibility, and cost-effectiveness while increasing the contact between the reservoir and wellbore. It can be conducted with minimum requirements and negligible soil contamination or landscape damage. As a result, HDD finds extensive applications across numerous industries, such as oil and gas, telecommunication, power, and utilities.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Horizontal Directional Drilling Market Trends and Drivers:
The global horizontal directional drilling market is primarily driven by the increasing onshore and offshore oil and gas exploration activities. Moreover, the surging adoption of HDD for installing underground electrical telecommunication systems by surveying, designing, and constructing underground cables is another major growth-inducing factor.
Additionally, numerous technological advancements, such as the development of automated HDD systems that utilize software to plan and control drilling equipment more accurately with reduced data-to-surface delays, have accelerated the product adoption rate.
Furthermore, due to the rising environmental concerns among the masses, the shifting preferences toward HDD, as it maintains the condition of the drilled area and causes minimal disturbance to the surrounding environment, is positively influencing the market growth.
Other factors, including favorable government policies, rising energy demand, and rapid urbanization and industrialization, are also anticipated to drive the market further.
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Global Horizontal Directional Drilling Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Baker Hughes Company, Barbco Inc., China Oilfield Services Limited (China National Offshore Oil Corporation), Ellingson Companies, Halliburton Company, Helmerich & Payne Inc., Herrenknecht AG, Nabors Industries Ltd., NOV Inc., Schlumberger Limited, The Toro Company, Vermeer Corporation and Weatherford International plc.
The report has segmented the market on the basis of region, technique, parts, application and end user.
Breakup by Technique:
• Conventional
• Rotary Steerable System
Breakup by Parts:
• Rigs
• Pipes
• Bits
• Reamers
Breakup by Application:
• On-shore
• Off-shore
Breakup by End User:
• Oil and Gas Excavation
• Utility
• Telecommunication
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea,
Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/horizontal-directional-drilling-market
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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