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. A detailed analysis report of COVID-19 impact on Directional Drilling Market is provided with the report. 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. Get Free Sample Copy @ 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. Top Manufacturers: • • • • • • • • • •
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), S cientific drilling international (U.S.), and Gyrodata (U.S.).
Global Directional Drilling 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 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. 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. Access Full Report at: https://www.marketresearchfuture.com/reports/directionaldrilling-market-1375 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: Market Research Future +1 646 845 9312 Email: sales@marketresearchfuture.com