Directional Drilling Services - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Directional Drilling Services Market is accounted for $9.04 billion in 2018 and is expected to reach $15.73 billion by 2027 growing at a CAGR of 6.3% during the forecast period. Technological advancements in drilling technologies and increasing shale gas development are the major factors driving the market growth. However, declining oil spending due to low crude oil price and rising focus on renewable energy are restraining market growth.
Directional drilling is a process of drilling a well with a chosen deviation to reach the target locality. This type of drilling is done for placing the wellbore precisely to get maximum recovery both on land and offshore regions. The main aim of this type of drilling is to cover large areas by the use of the single rig.
Based on the type, the rotary steerable system segment is likely to have a huge demand because it enables full three-dimensional directional drilling control to be performed while drilling with continuous drill string rotation from the surface. By geography, North America is going to have a lucrative growth during the forecast period due to technological advancements in drilling such as long-reach horizontal wellbores and completion techniques such as multi-stage hydraulic fracturing are increasing the implementation of these services.
Some of the key players profiled in the Directional Drilling Services Market include Baker Hughes Incorporated, Halliburton Company, Schlumberger Limited, Weatherford International PLC., National Oilwell Varco, Inc., GE Oil & Gas, Nabors Industries Ltd., Cathedral Energy Services Ltd., Jindal Drilling & Industries Limited, Gyrodata Incorporated, Scientific Drilling International, and Leam Drilling Systems, LLC.
• Rotary Steerable System
• Measurement-While-Drilling (MWD) & Survey
• Rotary Steerable System (RSS)
• Motors (MUD Motors)
• Other Services
• Well Planning
• Wellbore Positioning
• Automated Drilling Systems
• Torque & Drag Analysis
• Side Tracking
• Other Technologies
• Offshore Applications
• Onshore Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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