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Directional Drilling Services Market Latest Trends, Share, Top Players, Key Driving Factors And Growth Forecast 2032 - Baker Hughes Incorporated, NOV Inc., Weatherford International PLC, Schlumberger Limited, Halliburton Company
Directional Drilling Services Market
Directional Drilling Services Market Size, Growth Rate, And Forecast
The global directional drilling services market size is expected to grow from $13.75 billion in 2022 to $14.91 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The directional drilling services market size is expected to grow to $20.01 billion in 2027 at a CAGR of 7.6%.
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Directional Drilling Services Market Drivers
An increase in the production of oil and gas from unconventional reserves is expected to propel the growth of the directional drilling services market going forward. Oil and gas production refers to the broad process of converting crude oil and natural gas extracted from wells into usable petroleum products for consumers. Directional drilling helps in the production of oil and gas by not only drilling vertically but also at other angles to better access and extract oil and gas reserves.
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Directional Drilling Services Market Segments
• By Services: Logging-while-Drilling (LWD), Rotary Steerable System (RSS), Measurement While Drilling (MWD) and Survey, Drag Analysis, Well Bore Positioning, Other Services
• By Well Type: Horizontal, Multilateral, Extended Reach
• By Application: Onshore, Offshore
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the directional drilling services market.
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Directional Drilling Services Market Key Players
Major competitors in the directional drilling services market are Baker Hughes Incorporated, NOV Inc., Weatherford International PLC, Schlumberger Limited, Halliburton Company, Nabors Industries Limited, Cathedral Energy Services Limited, Jindal Drilling and Industries Limited, Scientific Drilling International Inc.
The Business Research Company's "Global Directional Drilling Services Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Directional Drilling Services Market Include:
1. Executive Summary
2. Directional Drilling Services Market Characteristics
3. Directional Drilling Services Market Trends And Strategies
4. Directional Drilling Services Market - Macro Economic Scenario
5. Directional Drilling Services Market Size And Growth
………………
27. Directional Drilling Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Directional Drilling Services Market
29. Directional Drilling Services Market Future Outlook and Potential Analysis
30. Appendix
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