Directional
Drilling Market Highlight
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 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. 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.
Directional
Drilling Market Segmental Analysis:
The segmentation of the Directional
Drilling Market Report 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
Market 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.
Prominent
Players:
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.)
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