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The global directional drilling market is forecasted to demonstrate an exponential growth by 2027, surpassing its previous growth records in terms of value with a whooping, CAGR during the estimated period (2017 – 2027). Global increasing demand for energy has resulted in rapid increase in the offshore drilling activities to meet the increasing demand, which ultimately has provided significant boost to the directional drilling market. Moreover, increasing need for higher productivity and efficiency of oil drilling process, there has been an increase in the demand for directional drilling. In addition, maturity of onshore drilling sites has led to the exploration of numerous untapped offshore resource sites also fuel the demand of the market.
Directional drilling is the science of deviating a wellbore along a planned path to a target located a given lateral distance and direction from vertical. Directional drilling can be used to reach targets that cannot be drilled with a vertical well. For example, it may not be possible to get a drilling permit for a well located within a populated area or within a park. However, a well could be drilled just outside of the populated area or park and then steered directionally to hit the target.
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Competitive Dashboard
Baker Hughes Incorporated (U.S.), National Oilwell Varco (U.S.), Weatherford International Plc. (U.S.), Schlumberger Ltd (U.S.), and Halliburton Company (U.S.). Nabors Industries Ltd (Bermuda), Cathedral Energy Services Ltd (Canada), Jindal Drilling & Industries Limited (India), and Gyrodata Incorporated (U.S.).
Global Directional Drilling Industry Segmentation
The global directional drilling market has been segmented based on application, well type, services and region.
Based on the application, the market is further classified as onshore and offshore.
On the basis of well type, the directional drilling market is segmented as horizontal well, multilateral wells and extended reach wells.
Based on services, the market is segmented as rotary steerable system, logging while drilling (LWD), measurement while drilling (MWD), and motors.
Directional Drilling Market Regional Analysis
Geographically, the global Directional Drilling Market covers growth opportunities and upcoming trends across North America, Europe, Asia Pacific and Middle East & Afica.
North America dominates the Directional Drillings market. The U.S. accounts for the largest market share in the North American region. The advancements in unconventional drilling technologies, which have attracted capital for oil and gas drilling projects. Additionally, Vast hydrocarbon resources in the U.S. Shale basins and continuous offshore drilling in the Gulf of Mexico region, are driving the demand of the market.
Asia Pacific is the second largest market for the Directional Drillings and is expected to grow at a highest CAGR during the forecast period. Increasing demand for energy due to urbanization & industrialization from the countries such as India, China, and Indonesia among others driving the demand of the market.
The Europe directional drilling market is expected to be dominated by countries such as U.K, Norway and Russia. The development of unconventional oil and gas exploration activities such as shale, is driving the market in the region. It is expected to contribute significantly during the forecast period.
Industry News
In August 2017, Greka Drilling Limited, the largest independent and specialized unconventional oil & gas driller in Asia, was awarded two new drilling contracts from PetroChina Huabei Oilfield Limited, a subsidiary of CNPC. The contract for the Fanzhuang Block is for one year with a scope of 16 wells consisting of vertical/directional production wells as well as exploration wells.
In October 2016, GDC contracted the Great Wall Drilling Company Limited to drill directional geothermal wells in Menengai. Under this contract Great wall was expected to drill 16 directional wells in Menengai.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Market Structure
2.5 Key Takeaways
2.6 Key Buying Criteria
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
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List Of Tables
Table 1 Global Directional Drilling Market: By Region, 2017-2023
Table 2 North America Directional Drilling Market: By Country, 2017-2023
Table 3 Europe Directional Drilling Market: By Country, 2017-2023
Table 4 Asia Pacific Directional Drilling Market: By Country, 2017-2023
Table 5 RoW Directional Drilling Market: By Country, 2017-2023
Table 6 Global Directional Drilling Market, By Application, By Regions, 2017-2023
Table 7 North America Directional Drilling Market, By Application, By Country, 2017-2023
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List Of Figures
Figure 1 Research Process Of MRFR
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
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