Global Directional Drilling Market Research Report, By
Application (Onshore and Offshore), by Well type (Horizontal, Multilateral, and
Extended reach), by Service (Rotary steerable systems, LWD, MWD, and Motors)
and by Region
Directional Drilling Market – Overview
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.
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.
Competitive Analysis
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.
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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.
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