Global Directional Drilling Services Market Size was valued nearly USD 8.64 billion by 2016 and is estimated to reach up to USD xx.xx billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 5.34% during the forecast period, i.e. 2017-2025. Directional drilling handles the deviation and trajectory of the well during drilling process. It swerves a wellbore and discover the oilfields over a targeted location. Increasing demand for energy due to the urbanization & industrialization, shale gas revolution, and oilfield discoveries in offshore as well as onshore are the key factors driving the directional drilling service market. Directional drilling services have changed the oil and gas industry. Oil and gas can be extracted cautiously from the deep ocean floor economically using directional drilling. Directional drilling technology rises the area covered by a single rig, and also helps in saving capital expenditure.
Global Market Growth Opportunities (Revenue, Growth) By 2017-2025
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global directional drilling services market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global directional drilling services market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
Increase in demand for petrochemical and chemical products and increasing exploration and manufacturing activities in various locations and deep waters are enhancing the oil & gas segment of the market. Environmental concerns and Volatility of the crude oil for instance oil volatility is 15% and the prices are 100US$ which means the oil prices may either increase or decrease by 15 % in the near future that may affect the prices during the drilling process and these are the key restraining factors for this market. The growing demand for enhanced drilling services from developing nations such as India & China along with growing demand to drill deeper and farther offshore, mainly in the unconventional reserve area, is projected to be the key growth opportunity factors for this market over the forecast period.
The directional drilling services market has been categorized into type, services, technology, applications and geography. On the basis of type the market is bifurcated into rotary steerable system and conventional. Based on service the market is categorized into logging while drilling, RSS, motors, measurement while drilling & survey and others. Global directional drilling services market on the basis of technology is categorized into side tracking, well planning, wellbore positioning, automated drilling system, and torque & drag analysis among others. Application segment is bifurcated into offshore and onshore. The onshore segment held the largest market share in the recent years, due to the aging and maturing of onshore fields. Offshore oilfield activities are anticipated to hold the major chunk of the market over the forecast period owing to the developments of new projects on ultra-deep waters and deep in the recent years and these projects are growing rapidly. For instance, Shell is drilling in Brazil’s pre-salt basins in order to extract oil and anticipated to contain 80 billion barrels of oil reserves that may cost 40 US$ per barrel.
The global directional drilling services market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. North America dominated the directional drilling services market in the recent years, due to the drilling of horizontal and directional wells in this region. The U.S. is the leading player in this region due to the growth in energy and power actions for shale gas in the Gulf of Mexico. Asia Pacific region is anticipated to hold the major chunk of directional drilling services market over the forecast period 2018-2025. This region is majorly driven due to the growing energy and power activities majorly in the countries such as India and China. China is one of the key consumers of oil & gas globally, it has planned to rise the natural gas consumptions as it can be a perfect replace coal as a major energy source owing to stringent government regulation. Whereas Middle East and Africa are the key market players for energy and power of crude oil. This is anticipated to increase in near future due to the rising production of offshore and onshore exploration activities.
Global Directional Drilling Services Market Size, Share Analysis By Region 2017
Global Directional Drilling Services Market Study Objective
1. To forecast the market size of directional drilling services market, along with describing and defining the market, in terms of volume and revenue.
2. Market analysis and forecast of directional drilling services market on the basis of region, substrate and application or end-use industry.
3. To analyze and elaborate significant factors that will have major impact on the growth of directional drilling services market, such as drivers, restraints, challenges and opportunities.
4. Regional analysis of directional drilling services market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.
5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.
6. To provide detailed analysis of competitive and strategic developments in the directional drilling services market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
Key Players Landscape
The key players in directional drilling services market are Halliburton Company, weatherford International PLC., GE Oil & Gas, Cathedral Energy Services Ltd., Gyrodata Incorporated, Leam Drilling Systems, LLC., Baker Hughes Incorporated, Schlumberger Limited, Nataional Oilwell Varco, Inc., Nabors industries Ltd., Jindal Drilling & Industries Limited, Scientific Drilling International among other key players.
Global Directional Drilling Services Market Study Report Offer You!
The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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