Global Horizontal Directional Drilling Market, By Technique (Conventional, Rotary Steerable System), Machines Parts (Rigs, Pipes, Bits, Reamers, Others), Rigs Type (Mini, Midi, Maxi), Application (Onshore, Offshore), End-Use (Oil & Gas Excavation, Utility, Telecommunication, Others), Sales Channel (New Sales, Aftermarket), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Global Horizontal Directional Drilling Market
The horizontal directional drilling market is expected to witness market growth at a rate of 14% in the forecast period of 2021 to 2028, and will reach the value of USD 24,246.98 million by 2028. Data Bridge Market Research report on horizontal directional drilling market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the product for various industrial applications is escalating the growth of horizontal directional drilling market.
Directional drilling refers to an essential practice carried out by crude oil producers for reaching the harshest wells. It assists in optimizing the production from the resource land. The well is generally drilled vertically down in the land which is considered more prone to the risk of nonproduction. The directional drilling offers the solution for drilling of oil wells.
The increase in drilling activities especially in remote areas across the globe acts as one of the major factors driving the growth of horizontal directional drilling market. The increase in the focus on causing minimal damages to the environment and declining inconvenience caused to the public, and rise in need for horizontal drilling due to its efficiency and environmentally friendly operation accelerate the market growth. The adoption of horizontal drilling equipment along with the advancement of drilling rigs, and increased exploration activities and oil and gas production linked to infrastructure upgrades and quality improvements further influence the market. Additionally, rise in telecommunications and oil & gas industries, urbanization and industrialization, and need for infrastructure development and utility installations positively affect the horizontal directional drilling market. Furthermore, technological advancements in horizontal directional drilling extends profitable opportunities to the market players in the forecast period of 2021 to 2028.
- On the other hand, high cost associated with the horizontal directional drilling and decline in dependence on oil & gas due to the increase in attention to renewable energy sources are expected to obstruct the market growth. The negative impact of COVID-19 on oil and gas, and lack of skilled technicians are projected to challenge the horizontal directional drilling market in the forecast period of 2021-2028.
This horizontal directional drilling market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on horizontal directional drilling market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Horizontal Directional Drilling Market Scope and Market Size
The horizontal directional drilling market is segmented on the basis of product, machine parts, rigs type, application, end use and sales channel. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product, the horizontal directional drilling market is segmented into conventional, and rotary steerable system.
- On the basis of machines parts, the horizontal directional drilling market is segmented into rigs, pipes, bits, reamers and others.
- On the basis of rigs type, the horizontal directional drilling market is segmented into mini, midi and maxi.
- On the basis of application, the horizontal directional drilling market is segmented into onshore, and offshore.
- On the basis of end-use, the horizontal directional drilling market is segmented into oil & gas excavation, utility, telecommunication and others.
- On the basis of sales channel, the horizontal directional drilling market is segmented into new sales, and aftermarket.
Horizontal Directional Drilling Market Country Level Analysis
The horizontal directional drilling market is analyzed and market size, volume information is provided by country, product, machine parts, rigs type, application, end use and sales channel as referenced above.
The countries covered in the horizontal directional drilling market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the horizontal directional drilling market due to the rise in number of oil & gas, utility construction, and infrastructure development projects within the region. Asia-Pacific is expected to be the fastest growing market during the forecast period of 2021 to 2028 because of the rise in telecommunications services in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Horizontal Directional Drilling Market Share Analysis
The horizontal directional drilling market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to horizontal directional drilling market.
The major players covered in the horizontal directional drilling market report are Halliburton., Schlumberger Limited., Seadrill Limited, TRANSOCEAN LTD., Weatherford, China Oilfield Services Limited, DIAMOND OFFSHORE DRILLING, INC., Baker Hughes Company, DOLPHIN DRILLING, MAERSK DRILLING, KCA Deutag, Valaris plc, Nabors Industries Ltd., Paragon Offshore, Scientific Drilling International, Noble Corporation, Superior Energy Services, Inc., Archer., Helmerich & Payne., Patterson-UTI Energy, Inc., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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