North American Drilling Services Market is Expected to Grow at a CAGR of 10.5% from 2014 to 2019 The North American drilling services market report defines and segments the concerned market in North America with analysis and forecast of revenue. The market is estimated to register a CAGR of 10.5% between 2014 and 2019.
The market is estimated to register a CAGR of 10.5% between 2014 and 2019.
The increasing energy demand has led to increased exploration & production activities globally, which requires lots of drilling activities. North America records almost half of the world’s drilling & exploration activities. New discoveries in the offshore regions and shale gas exploration are some of the factors that are driving the drilling services market in North America. The U.S. held the largest market share in North American drilling services market in 2013. The U.S. is one of the largest oil producers and the largest oil importer in the world, as the domestic oil production does not fulfill the high energy demand from different sectors.
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Contract drilling constitutes the major chunk of drilling services, followed by directional drilling and drilling waste management. Drilling waste management is of prime importance from environment point of view. Growing environmental concerns and stringent regulations are driving Email: sales@micromarketmonitor.com
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the drilling waste management services market, which will subsequently have a positive impact on the North American drilling services market. Drilling services market in North America was dominated by onshore drilling applications in 2013. However, due to maturity of onshore fields and increasing energy demand, the offshore drilling services market is growing faster as compared to onshore drilling services. Moreover, the increasing number of new discoveries in offshore fields is also boosting the growth of the offshore drilling services market.
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Email: sales@micromarketmonitor.com
Tel: +1-888-502-0539