Reliable Data You Can Trust
Reliable Data You Can Trust
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.
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.
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.
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.
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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