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Directional Drilling Services Market (Type - Conventional, and Rotary Steerable System; Service - Logging-while-drilling (LWD), Rotary Steerable System (RSS), Measurement While Drilling (MWD) and Survey, Drag Analysis, Well Bore Positioning, and Other Services; Application - Onshore, and Offshore): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : March, 2020

  • Rep Id : EIM0277

  • Category : Energy, Mining and Infrastructure

  • Status : Published

A recent report published by Infinium Global Research on the directional drilling services market provides an in-depth analysis of segments and sub-segments in the global as well as regional directional drilling services market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional directional drilling services market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global directional drilling services market. According to the report, the global directional drilling services market is projected to grow at a CAGR of 4.9% over the forecast period of 2019-2025.

 

Market Insight

Directional drilling services are used to control the trajectory and deviation of the drill during drilling operations. It explores the oilfields from a targeted location. Directional drilling services has changed the oil and gas industry. It helps to extract oil and gas economically from the deep ocean floor. The directional drilling technology also helps to save capital expenditure by increasing the area covered by a single rig.

 

The rise in energy demand due to shale gas development will augment the growth of the directional drilling services market. According to U. S. Energy Information International and Annual Energy Outlook 2016, the gas production is projected to reach up to 554 Bcf/day by 2040. The major factors contributing to the growth of directional drilling services market are increasing urbanization and industrialization, and oilfield discoveries in onshore and offshore locations. Further, the increasing advancement in drilling technologies contributes to the development of directional drilling services market. Innovative software drilling technologies such as navigator directional platform fuel market growth. The surge in demand for chemical and petrochemical products stimulates the growth of the market. Additionally, an increase in exploration and production activities in deep waters and distant locations boosts the growth of the directional drilling services market. In addition, the rise in the number of mature fields in the onshore and offshore applications led to the expansion of the directional drilling services market. The increasing investments by leading companies in exploration and production activities complement the rise in demand for directional drilling services. Furthermore, directional drilling technology provides various benefits such as minimum site restoration, flexibility, low soil contamination, quicker installation with low costs, and low risk of geological abnormalities fuel the market growth. On the flip side, the rising focus on renewable energy hinders the growth of the directional drilling services market. Moreover, the discovery of new oilfields creates several opportunities for the growth of the directional drilling services market.

 

Geographically, the global directional drilling services market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World. North America is expected to hold the largest share in the global directional drilling services market. The rise in drilling activity for shale gas in countries such as Canada, U.S. drives the growth of the directional drilling services market in North America. Asia-Pacific region is anticipated to grow in the global directional drilling services market with a healthy CAGR over the forecast period. The rising exploration and production activities within the oil and gas industry in countries such as China and India contribute to the growth of the directional drilling services market in the Asia-Pacific region. Europe has significant growth opportunities in the global directional drilling services market owing to advancements in drilling technology in the region.

 

Segment Covered

The report on global directional drilling services market covers segments such as type, service, and application. On the basis of type, the sub-markets include conventional and rotary steerable system. On the basis of service, the sub-markets include logging-while-drilling (LWD), rotary steerable system (RSS), measurement while drilling (MWD) and survey, drag analysis, well bore positioning, and other services. On the basis of application, the sub-markets include onshore, and offshore.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Weatherford International plc, Cathedral Energy Services Ltd., Schlumberger Limited, National Oilwell Varco, Inc., Halliburton Company, Baker Hughes Co., Jindal Drilling and Industries Limited, Gyrodata Inc., Leam Drilling Systems, LLC, Scientific Drilling International Inc., and Other companies.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of directional drilling services market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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