Extended Reach Drilling Market Trends and Growth analysis Report 2027

Report Description

Global extended reach drilling market is anticipated to grow with an impressive CAGR in the forecast years 2023-2027 on account of technological advancements and requirement to reach reserve faster through technologies including high-torque drill pipe connections. Increasing demand for oil and gas in various industries also drives the growth of the global extended reach drilling market in the upcoming five years.

Extended reach drilling is a method of inclined drilling in which there is more than 10% inclination from vertical line of drilling, the reach is increased such that maximum oil extraction can be conducted. All the processes like geosteering, toque reduction, casing floatation contribute to successful extended reach drilling procedure for oil excavation. The wells thus created can be shallow, intermediate, deep or ultradeep. Tools and technologies are used to bring higher efficiency to the procedure and increase oil production amount. In the fragile environment like Arctic glaciers, extended reach drilling is more preferred.

Increasing Demand for Oil Drives Market Growth

Demand for oil and gas is the most important factor responsible for the growth of the global extended reach drilling market in the upcoming five years. Automotive industries, manufacturing units, chemical industries, etc. all further contribute to the growing demand for oil & gas and thus support the growth of the global extended reach drilling market in the next five years. As of 2021, globally about 88,391 thousand barrels of oil is produced every day. Out of which, United States produces 712.7 thousand barrels of oil per day. This production rate is required to further increase in subsequent years to satisfy the growing demand for oil in various industries.

Extended reach drilling is the latest technology that oil companies are recognizing as mainstream method of oil production though its comparatively expensive, to develop frontier reserves in the regions where traditional oil production methods are either not feasible or leaves heavy environment footprints. In regions like Arctic or Antarctic glaciers, oil is present in certain regions, but project infrastructure is difficult for construction and is much more expensive. The regions that would otherwise be categorized as non-commercial reservoir can now be utilized for excavation of oil using extended reach drilling process thus substantiating the growth of the global extended reach drilling market in the future five years.

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Market Segmentation

The global extended reach drilling market is segmented based on type, well type, technology, application, regional distribution, and competitive landscape. Based on type, the market is fragmented into shallow, intermediate, deep, and ultradeep. On the basis of well type, the market is bifurcated into 3D wells, deviated wells, and others. On the basis of technology, the market is sub-segmented into rotary steerable systems, measurement-while-drilling, and logging-while-drilling. Based on application, the market is further fragmented into onshore and offshore. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Asia-Pacific region, North American region, European region, South American region, and Middle East & African region.

Company Profile

China Oilfield Services Limited, HXR Drilling services, K&M Technology Group, Schlumberger Limited, Baker Hughes, Halliburton Company, Weatherford International, Mubadala Petroleum Ltd., are enlisted in a partial list of major market players of the global extended reach drilling market.

Attribute	Details
Base Year	2021
Historical Years	2017 – 2020
Estimated Year	2022
Forecast Period	2023 – 2027
Quantitative Units	Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027
Report Coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	· Type · Well Type · Technology · Application
Regional Scope	North America; Europe; Asia Pacific; South America; Middle East & Africa
Country Scope	United States, Mexico, Canada, China, India, Japan, South Korea, Australia, Singapore, Malaysia, Germany, France, United Kingdom, Spain, Italy, Poland, Denmark, South Africa, UAE, Saudi Arabia, Iraq, Turkey, Brazil, Argentina, Colombia, Peru, Chile
Key Companies Profiled	China Oilfield Services Limited, HXR Drilling services, K&M Technology Group, Schlumberger Limited, Baker Hughes, Halliburton Company, Weatherford International, Mubadala Petroleum Ltd.
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, global extended reach drilling market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Extended Reach Drilling Market, By Type:

Shallow
Intermediate
Deep
Ultradeep

Extended Reach Drilling Market, By Well Type:

3D Wells
Deviated Wells
Others

Extended Reach Drilling Market, By Technology:

Rotary Steerable Systems
Measurement-While-Drilling
Logging-While-Drilling

Extended Reach Drilling Market, By Application:

Onshore
Offshore

Extended Reach Drilling Market, By Region:

North America

United States
Mexico
Canada

Europe

France
Germany
United Kingdom
Italy
Spain
Poland
Denmark

Asia-Pacific

China
India
Japan
South Korea
Australia
Singapore
Malaysia

Middle East & Africa

South Africa
Saudi Arabia
UAE
Iraq
Turkey

South America

Brazil
Argentina
Colombia
Peru
Chile

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global extended reach drilling market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Extended Reach Drilling Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on Global Extended Reach Drilling Market

4. Executive Summary

5. Voice of Customers

5.1. Brand Awareness

5.2. Factors Considered while Selecting a Supplier

5.3. Customer Satisfaction Level

5.4. Major Challenges Faced

6. Global Extended Reach Drilling Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type (Shallow, Intermediate, Deep, and Ultradeep)

6.2.2. By Well Type (3D Wells, Deviated Wells, Others)

6.2.3. By Technology (Rotary Steerable Systems, Measurement-while-Drilling, Logging-while-Drilling)

6.2.4. By Application (Onshore, Offshore)

6.2.5. By Region

6.2.6. By Company

6.3. Product Market Map

7. North America Extended Reach Drilling Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type

7.2.2. By Well Type

7.2.3. By Technology

7.2.4. By Application

7.2.5. By Country

7.3. North America: Country Analysis

7.3.1. United States Extended Reach Drilling Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Type

7.3.1.2.2. By Well Type

7.3.1.2.3. By Technology

7.3.1.2.4. By Application

7.3.2. Canada Extended Reach Drilling Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Type

7.3.2.2.2. By Well Type

7.3.2.2.3. By Technology

7.3.2.2.4. By Application

7.3.3. Mexico Extended Reach Drilling Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Type

7.3.3.2.2. By Well Type

7.3.3.2.3. By Technology

7.3.3.2.4. By Application

8. Asia-Pacific Extended Reach Drilling Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type

8.2.2. By Well Type

8.2.3. By Technology

8.2.4. By Application

8.2.5. By Country

8.3. Asia-Pacific: Country Analysis

8.3.1. China Extended Reach Drilling Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Type

8.3.1.2.2. By Well Type

8.3.1.2.3. By Technology

8.3.1.2.4. By Application

8.3.2. India Extended Reach Drilling Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Type

8.3.2.2.2. By Well Type

8.3.2.2.3. By Technology

8.3.2.2.4. By Application

8.3.3. Japan Extended Reach Drilling Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Type

8.3.3.2.2. By Well Type

8.3.3.2.3. By Technology

8.3.3.2.4. By Application

8.3.4. South Korea Extended Reach Drilling Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Type

8.3.4.2.2. By Well Type

8.3.4.2.3. By Technology

8.3.4.2.4. By Application

8.3.5. Australia Extended Reach Drilling Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Type

8.3.5.2.2. By Well Type

8.3.5.2.3. By Technology

8.3.5.2.4. By Application

8.3.6. Singapore Extended Reach Drilling Market Outlook

8.3.6.1. Market Size & Forecast

8.3.6.1.1. By Value

8.3.6.2. Market Share & Forecast

8.3.6.2.1. By Type

8.3.6.2.2. By Well Type

8.3.6.2.3. By Technology

8.3.6.2.4. By Application

8.3.7. Malaysia Extended Reach Drilling Market Outlook

8.3.7.1. Market Size & Forecast

8.3.7.1.1. By Value

8.3.7.2. Market Share & Forecast

8.3.7.2.1. By Type

8.3.7.2.2. By Well Type

8.3.7.2.3. By Technology

8.3.7.2.4. By Application

9. Europe Extended Reach Drilling Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type

9.2.2. By Well Type

9.2.3. By Technology

9.2.4. By Application

9.2.5. By Country

9.3. Europe: Country Analysis

9.3.1. Germany Extended Reach Drilling Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Type

9.3.1.2.2. By Well Type

9.3.1.2.3. By Technology

9.3.1.2.4. By Application

9.3.2. United Kingdom Extended Reach Drilling Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Type

9.3.2.2.2. By Well Type

9.3.2.2.3. By Technology

9.3.2.2.4. By Application

9.3.3. France Extended Reach Drilling Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Type

9.3.3.2.2. By Well Type

9.3.3.2.3. By Technology

9.3.3.2.4. By Application

9.3.4. Italy Extended Reach Drilling Market Outlook

9.3.4.1. Market Size & Forecast

9.3.4.1.1. By Value

9.3.4.2. Market Share & Forecast

9.3.4.2.1. By Type

9.3.4.2.2. By Well Type

9.3.4.2.3. By Technology

9.3.4.2.4. By Application

9.3.5. Spain Extended Reach Drilling Market Outlook

9.3.5.1. Market Size & Forecast

9.3.5.1.1. By Value

9.3.5.2. Market Share & Forecast

9.3.5.2.1. By Type

9.3.5.2.2. By Well Type

9.3.5.2.3. By Technology

9.3.5.2.4. By Application

9.3.6. Poland Extended Reach Drilling Market Outlook

9.3.6.1. Market Size & Forecast

9.3.6.1.1. By Value

9.3.6.2. Market Share & Forecast

9.3.6.2.1. By Type

9.3.6.2.2. By Well Type

9.3.6.2.3. By Technology

9.3.6.2.4. By Application

9.3.7. Denmark Extended Reach Drilling Market Outlook

9.3.7.1. Market Size & Forecast

9.3.7.1.1. By Value

9.3.7.2. Market Share & Forecast

9.3.7.2.1. By Type

9.3.7.2.2. By Well Type

9.3.7.2.3. By Technology

9.3.7.2.4. By Application

10. South America Extended Reach Drilling Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Type

10.2.2. By Well Type

10.2.3. By Technology

10.2.4. By Application

10.2.5. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Extended Reach Drilling Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Type

10.3.1.2.2. By Well Type

10.3.1.2.3. By Technology

10.3.1.2.4. By Application

10.3.2. Argentina Extended Reach Drilling Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Type

10.3.2.2.2. By Well Type

10.3.2.2.3. By Technology

10.3.2.2.4. By Application

10.3.3. Colombia Extended Reach Drilling Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Type

10.3.3.2.2. By Well Type

10.3.3.2.3. By Technology

10.3.3.2.4. By Application

10.3.4. Peru Extended Reach Drilling Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Type

10.3.4.2.2. By Well Type

10.3.4.2.3. By Technology

10.3.4.2.4. By Application

10.3.5. Chile Extended Reach Drilling Market Outlook

10.3.5.1. Market Size & Forecast

10.3.5.1.1. By Value

10.3.5.2. Market Share & Forecast

10.3.5.2.1. By Type

10.3.5.2.2. By Well Type

10.3.5.2.3. By Technology

10.3.5.2.4. By Application

11. Middle East & Africa Extended Reach Drilling Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value

11.2. Market Share & Forecast

11.2.1. By Type

11.2.2. By Well Type

11.2.3. By Technology

11.2.4. By Application

11.2.5. By Country

11.3. Middle East & Africa: Country Analysis

11.3.1. Saudi Arabia Extended Reach Drilling Market Outlook

11.3.1.1. Market Size & Forecast

11.3.1.1.1. By Value

11.3.1.2. Market Share & Forecast

11.3.1.2.1. By Type

11.3.1.2.2. By Well Type

11.3.1.2.3. By Technology

11.3.1.2.4. By Application

11.3.2. South Africa Extended Reach Drilling Market Outlook

11.3.2.1. Market Size & Forecast

11.3.2.1.1. By Value

11.3.2.2. Market Share & Forecast

11.3.2.2.1. By Type

11.3.2.2.2. By Well Type

11.3.2.2.3. By Technology

11.3.2.2.4. By Application

11.3.3. UAE Extended Reach Drilling Market Outlook

11.3.3.1. Market Size & Forecast

11.3.3.1.1. By Value

11.3.3.2. Market Share & Forecast

11.3.3.2.1. By Type

11.3.3.2.2. By Well Type

11.3.3.2.3. By Technology

11.3.3.2.4. By Application

11.3.4. Iraq Extended Reach Drilling Market Outlook

11.3.4.1. Market Size & Forecast

11.3.4.1.1. By Value

11.3.4.2. Market Share & Forecast

11.3.4.2.1. By Type

11.3.4.2.2. By Well Type

11.3.4.2.3. By Technology

11.3.4.2.4. By Application

11.3.5. Turkey Extended Reach Drilling Market Outlook

11.3.5.1. Market Size & Forecast

11.3.5.1.1. By Value

11.3.5.2. Market Share & Forecast

11.3.5.2.1. By Type

11.3.5.2.2. By Well Type

11.3.5.2.3. By Technology

11.3.5.2.4. By Application

12. Market Dynamics

12.1. Drivers

12.2. Challenges

13. Market Trends & Developments

14. Company Profiles

14.1. China Oilfield Services Limited

14.2. HXR Drilling services

14.3. K&M Technology Group

14.4. Schlumberger Limited

14.5. Baker Hughes Company

14.6. Halliburton Company

14.7. Weatherford International

14.8. Mubadala Petroleum Ltd.

15. Strategic Recommendations

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Figures and Tables

Frequently asked questions

What major factors drive Global Extended Reach Drilling Market growth?

Surge in demand for more effective methods of oil & gas excavation and increasing demand for oil from end use industries including automotive industry is driving the growth of the global extended reach drilling market in the upcoming five years.

Which region dominates the Global Extended Reach Drilling Market analysis?

The global extended reach drilling market is segmented into North America, South America, Asia Pacific, Europe and Middle East & Africa region. North America is anticipated to dominate the market in the upcoming five years on account of increasing discoveries of oil & gas reservoirs in the major economies. Moreover, blacktip oilfield in Gulf of Mexico is one such recent discovery that drives the market growth in the region.

What are some strategic recommendations for future growth of the Global Extended Reach Drilling Market?

Rapid adoption of advanced technology and development of products and methods to decrease the cost of extended reach drilling are some of the strategic recommendations that market players may utilize for their future growth and support the growth of the global extended reach drilling market in the upcoming five years.

Which segment By Application may dominate the Global Extended Reach Drilling Market analysis?

Onshore applications are expected to dominate the global extended reach drilling market by application in the upcoming five years on account of increasing demand for oil production from the onshore reservoirs.

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