North America to Dominate Directional Drilling Market until 2025
Increasing discoveries of
new oilfields to drive the growth of global directional drilling market
According
to TechSci Research report, “Global
Directional
Drilling Market By Type (At-Bit Steerable System, Rotary Steerable System),
By Component (Drilling Tool Rental, Rig Rental, OCTG Rental, Consumables,
Others), By Service (Drilling, Logging-While-Drilling (LWD),
Measurement-While-Drilling (MWD) & Survey, Motors (MUD Motors), Others), By
Technology (Wellbore Positioning, Side Tracking, Well Planning, Others), By
Application (Onshore v/s Offshore), By Field Development Type (Greenfield Vs
Brownfield), By Region, Forecast & Opportunities, 2025”, the global directional drilling market is expected to grow
at a steady rate during the forecast period on account of the ongoing shale gas
developments. However, growing focus on renewable and cleaner forms of energy
is expected to hamper the growth of market during forecast period. Additionally,
stringent government regulatory policies regarding oil & gas field
developments are further expected to restrict the growth of market over 2025.
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The global directional drilling market is segmented based on type,
component, service, technology, application, field development type, company
and region. Based on type, the market can be bifurcated into at-bit steerable
system and rotary steerable system. The rotary steerable system is expected to
dominate the market during forecast years. This can be attributed to the need
for remote steering which provides improved trajectory control resulting in
reduced drilling time and smoother well bores. Based on service, the market can
be fragmented into drilling, logging-while-drilling (LWD), measurement-while-drilling (MWD) & survey, motors
(MUD Motors), and others. The measurement-while-drilling (MWD) & survey
segment is expected to hold the largest market share during forecast period.
This can be ascribed to the ability to continuously monitor wellbore and the
real time directional survey of downhole conditions. Based on application, the
market can be divided into onshore and offshore. The onshore segment is
expected to dominate the market over the course of next five years owing to the
increasing number of maturing onshore wells.
Baker Hughes Company, Halliburton Company,
Schlumberger Limited, National Oilwell Varco, Inc., Gyrodata Incorporated, Scientific
Drilling International, Leam Drilling Systems, LLC, Weatherford International
Inc., Jindal Drilling & Industries Limited, Cathedral Energy Services Ltd. and others
are some of the leading players operating in global directional drilling market.
The companies operating in the market are using organic strategies such as
product launches, mergers and collaborations to boost their share. For
instance, in October 2016, National Oilwell Varco, developed its closed loop
automation system. This system uses intelligent controls to develop its
technology. This system is a combination of drilling systems, software
application of eVolve Optimization Service, NOV Operating System (NOVOS) and
control systems. This system will enhance the operators drilling
operations. Furthermore, in September
2016, Halliburton Company released new drilling motors GeoForce Endure and
StrataForce Endure motors, these motors reduce non-productive time associated
with chunking, and enhances the motors reliability in harsh environments.
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“North America is expected to dominate
the directional drilling market until 2025, owing to the ongoing technological advancements in drilling
such as long-reach horizontal well bores in the region. Furthermore, the
increasing shale gas explorations especially in the United states and Canada
are projected to foster the growth of market during the forecast years.
Additionally, increasing investments by the governments across the globe and
key players in the market is further spurring the growth of market in the
region.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Directional
Drilling Market By Type (At-Bit Steerable System, Rotary Steerable System), By
Component (Drilling Tool Rental, Rig Rental, OCTG Rental, Consumables, Others),
By Service (Drilling, Logging-While-Drilling (LWD), Measurement-While-Drilling
(MWD) & Survey, Motors (MUD Motors), Others), By Technology (Wellbore
Positioning, Side Tracking, Well Planning, Others), By Application (Onshore v/s
Offshore), By Field Development Type (Greenfield Vs Brownfield), By Region, Forecast
& Opportunities, 2025” has evaluated the future growth potential of global
directional drilling market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in global directional
drilling market.Contact
Mr. Ken Mathews
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Manhattan, NY,
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Email: [email protected]
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