Directional
Drilling Market Scenario
According to a recent study report published by the
Market Research Future, The global market of directional drilling is booming
and expected to gain prominence over the forecast period.
The need to increase
production from the harshest wells has raised the growth of directional
drilling considerably. Market reports related with the energy and power
industry have been presented by Market Research Future which makes reports on
other industry verticals that aims to analyze the current market scenarios
better. The market is projected to expand with a 3.48 % CAGR in the forecast
period.
The escalation in discoveries
related to the oil and gas industry along with shale activities have raised the
use of directional drilling substantially. The capability of directional drilling to enable
the drilling of multiple wells from the parent wellbore are raising the growth
potential of the market. Moreover, the escalated level of demand from upstream oil
companies will create new prospects for the directional drilling in the
upcoming years.
Global Directional
Drilling Market Segmental Analysis
The segmentation of the directional
drilling market has been carried out on the basis of application, well type,
services, and region.
On the basis of application
type, the directional drilling market is segmented into onshore and offshore.
The segmentation of the directional
drilling market on well type comprises of multilateral wells, horizontal well, and
extended reach wells.
The services-based
segmentation of the directional drilling market consists of logging while
drilling (LWD), rotary steerable system, measurement while drilling (MWD), and
motors.
The regions included in the
directional drilling market are Europe, North America, Asia Pacific and rest of
the world.
Regional
Analysis
The regional analysis of the
directional
drilling market consists of regions such as North America, Europe, Asia Pacific and rest of
the world.
The market for directional
drilling is poised for excellent development because of the recovering global
oil prices. The North American and European regions are likely to control the
market for directional drilling. These regions are witnessing a huge number of
oil exploration activities in the Gulf of Mexico and the North Sea, which will lead
to elevated drilling activities in these regions.
In addition, the huge number
of mature oil wells from the North Sea in the European region and the Permian
Basin and Bakken in the North American region are expected to require new
drilling activities thus, motivating the directional drilling market.
The African and the Middle
Eastern region are also anticipated to observe vital growth over the forecast
period owing to the mounting exploration activities together with growing
demand for fuel from developing nations.
Browse Full Report at: https://www.marketresearchfuture.com/reports/directional-drilling-market-1375
Industry Updates:
Feb 2019 Sandvik Mining and
Rock Technology has recently introduced its new model DE712 which is appropriate
for both directional drilling and geotechnical drilling. The rig features a volume
of 1,126 m depth in N size and is offered in both, crawler- and truck- based
configurations making it effortless to transport across the site. Its exposed
and accessible design enable maintenance and service tasks fast and uncomplicated.
Competitive
Analysis
The market shows potential
for demonstrating a greater comparative or differential value. The market
trends hint at favorable development of the products that can bring in novelty
to the product range and address the customer need better. The presence of a
productive entity is expected to generate more sales or superior margins
compared to its market rivals. The advent of new technology has boosted the
growth potential of the market. Substantial cutbacks in administrative finances
are bringing further development to the market. The creation of a strong value chain is
moreover motivating the expansion of the market. The market competitors find
themselves in a favorable position with the ability to manage the pace of
change.
Top Manufacturers
The crucial companies in the
directional drilling market globally are National Oilwell Varco (U.S.),
Weatherford International Plc. (U.S.), Jindal Drilling & Industries Limited
(India), Halliburton Company (U.S.), Schlumberger Ltd (U.S.), Nabors Industries
Ltd (Bermuda), Baker Hughes Incorporated (U.S.), Cathedral Energy Services Ltd
(Canada), and Gyrodata Incorporated (U.S.) are among others.
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
MRFR
team have supreme objective to provide the optimum quality market research and
intelligence services to our clients. Our market research studies by
Components, Application, Logistics and market players for global, regional, and
country level market segments, enable our clients to see more, know more, and
do more, which help to answer all their most important questions.
Contact:
Market
Research Future
+1
646 845 9312
No comments:
Post a Comment