Directional Drilling Market To Growth Be Spurred By Escalating Demand By 2023

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.

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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.

Browse Complete Report at: https://www.marketresearchfuture.com/reports/directional-drilling-market-1375

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.

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.

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.

Also Read: https://www.marketwatch.com/press-release/directional-drilling-market-prognosticated-to-accrue-with-a-whooping-cagr-by-2027-asserts-mrfr-2019-01-10

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Increasing Demand For Fuel In The Developing Economies Drive The Directional Drilling Market To A Large Extent

Global Directional Drilling Market Overview

Directional drilling is an important approach practiced by crude oil manufacturers to reach the toughest wells and optimizing the production from the resource land. Usually, the well is drilled vertically down in the area which is economically infeasible and more inclined to the risk of nonproduction. The directional drilling offers solution for drilling of oil wells at different angles other than vertical angle and assists in reaching better reserves of oil and gas. In spite of the progress in technology, directional drilling has been the key area of interest for oil upstream players owing to the applications involving this procedure. It includes drilling at more than one angle in the fields, obtaining oil and gas from the untapped source. Additionally, the technique facilitates the drilling of multiple wells from the parent wellbore, which aids in diminishing the negative environmental influences of drilling. With its benefits in both, offshore and onshore well drilling, directional drilling hold importance in oilfield service business.

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Innovations in oil and gas sector collectively with shale activities and surging demand for fuel and energy from the developing economies complementing from surged urbanization and globalization are the key drivers of directional drilling market. Trenchless Engineering Services Pvt. Ltd. installed horizontal direction drill in 2015. It was done for a gas pipeline, which was laid to a depth of 140 meters beneath the surface level. However, the low-price trends have restricted the projects for directional drilling. Several projects were paused, which are estimated to initiate with recovering oil prices. Gas and oil directional drilling industry are estimated to have huge potential from rising projects over the forecast period. This rise is due to the augmented production from the end use sector coupled with increasing shale revolution. The market is also likely to experience high developmental activities brought in by major players and multinationals.

Key Players

Global directional drilling market is dominated by key players such as Halliburton Company (U.S.), Baker Hughes Incorporated (U.S.), Schlumberger Limited (U.S.), Nabors industries ltd. (Bermuda), Weatherford International plc. (Switzerland), National Oilwell Varco, Inc. (U.S.), Jindal Drilling & Industries Limited (India), Cathedral Energy Services Ltd (Canada), Scientific drilling international (U.S.), and Gyrodata (U.S.).

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Market Segmentation

Global directional drilling market has been segmented based on type, land, region, and services. Based on type, the market has been segmented into horizontal directional drilling, oilfield directional drilling, and directional boring. Based on land, the market has been segmented into offshore and onshore drilling. Onshore leads the technology segment of global directional drillings market. Directional drilling finds application in more onshore activities owing to the surging number of maturing fields. Offshore segment is likely to be the swiftest growing segment over the forecast period. Based on region, the market has been segmented into Europe, North America, Middle East & Africa, Asia Pacific, and South America. Based on Services, the market has been segmented into LWD, MWD, rotary steerable systems, and motors. Rotary steerable directional drilling services segment is estimated to develop remarkably over the forecast period. It is mostly driven by aspects like the growing need to access tough reservoirs. Benefits like lower overall costs and high efficiency of directional drilling fuel the growth in this segment.

Regional Analysis

North America rules the directional drillings market. The U.S. holds the largest share in the North American market. The progress in modern drilling technologies have attracted investments for oil and gas drilling projects. Moreover, vast hydrocarbon reserves in the U.S. shale basins and consistent offshore drilling in the Gulf of Mexico region, are propelling the demand of the market. Asia Pacific holds the second largest market for directional drillings and is likely to grow at a highest CAGR over the forecast period. Surging demand for energy owing to industrialization & urbanization from the developing economies such as China, Indonesia, and India, plays crucial role in driving the demand of the market.

Also Read: https://www.marketwatch.com/press-release/directional-drilling-market-prognosticated-to-accrue-with-a-whooping-cagr-by-2027-asserts-mrfr-2019-01-10

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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.

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Directional Drilling Market - Business Insights, Global Size, Share and Forecast to 2023

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 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.

Get Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/1375

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 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.

Get Complete Report @ https://www.marketresearchfuture.com/reports/directional-drilling-market-1375

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.)

Also Read: https://www.marketwatch.com/press-release/directional-drilling-market-prognosticated-to-accrue-with-a-whooping-cagr-by-2027-asserts-mrfr-2019-01-10

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.

Contact:

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Email: sales@marketresearchfuture.com

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Directional Drilling Market - Competitive Landscape and Business Boosting Strategies till 2023

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.

Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/1375

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.

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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.

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Directional Drilling Market 2019 Global Top Players, Competitive Landscape, Trends, Size, Growth, Outlook And Regional Forecast To 2023 | MRFR

Global Directional Drilling Market - Overview

Directional drilling is the science of deviating a wellbore along a planned path to a target located a given lateral distance and direction from vertical. Directional drilling can be used to reach targets that cannot be drilled with a vertical well. For example, it may not be possible to get a drilling permit for a well located within a populated area or within a park. However, a well could be drilled just outside of the populated area or park and then steered directionally to hit the target.

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 global directional drilling market is forecasted to demonstrate an exponential growth by 2027, surpassing its previous growth records in terms of value with a whooping, CAGR during the estimated period (2017 – 2027).

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Prominent Players

Baker Hughes Incorporated (U.S.), Halliburton Company (U.S.), Schlumberger Limited (U.S.), Weatherford International plc. (Switzerland), National Oilwell Varco, Inc. (U.S.), Nabors industries ltd. (Bermuda), Cathedral Energy Services Ltd (Canada), Jindal Drilling & Industries Limited (India), Gyrodata (U.S.) , and Scientific drilling international (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Directional Drilling Market.

Latest Industry News

In August 2017, Greka Drilling Limited, the largest independent and specialized unconventional oil & gas driller in Asia, was awarded two new drilling contracts from PetroChina Huabei Oilfield Limited, a subsidiary of CNPC. The contract for the Fanzhuang Block is for one year with a scope of 16 wells consisting of vertical/directional production wells as well as exploration wells.

In October 2016, GDC contracted the Great Wall Drilling Company Limited to drill directional geothermal wells in Menengai. Under this contract Great wall was expected to drill 16 directional wells in Menengai.

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Segmental Analysis

Based on land, the market has been segmented into onshore and offshore. Onshore dominates the technology segment of global Directional Drillings market. Directional drilling is used in more onshore applications due to the high number of maturing fields. Offshore segment is expected to be the fastest growing segment during the forecast period.

On the basis of type, the market has been segmented into Directional boring, horizontal directional drilling, and oilfield directional drilling.

Based on Services, the market has been segmented into Rotary Steerable Systems, LWD, MWD and Motors. Rotary steerable directional drilling services segment is expected to grow significantly during the forecast period. It is primarily driven by factors like the rising need to access difficult reservoirs. Advantages like high efficiency and lower overall costs of directional drilling foster growth in this segment.

Segmentation by Region: Comprises Geographical regions - North America, Europe, Asia Pacific, Middle East & Africa and South America.

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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.

Contact:

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