The Global Directional Drilling Solutions And Services Market size is projected to grow from USD 7.06 billion in 2021 to USD XX.XX billion by 2028, at a CAGR of 10.5% during the forecast period (2021-2028). The MWD Services segment accounted for the largest share of 38% in 2018 owing to its high penetration rate across various industries such as oil & gas, mining, power transmission & distribution, civil construction, and water resources sectors.
Directional drilling is a wellbore construction technique that uses the combination of the rotary steerable system (RSS) and measurement while drilling (MWD). it also includes services such as consulting, engineering & design. Directional drilling provides greater flexibility for the oil and gas operators to drill a borehole that deviates from its initial trajectory. There are two kinds of directional drilling, in which the first is used primarily to drill at steep angles and greater depths. The second is best suited for horizontal drilling below the surface or through subterranean formations. Maintenance and repair services are one of the various directional drilling solutions and services.
On the basis of Type, the global directional drilling solutions and services market is segmented into MWD Services, LWD Services, Rotary Steerable System (RSS) services, and Repair & Maintenance Services.
MWD stands for Measurement While Drilling. With the help of this type of drilling, you can take measurements at every stage of the process to get accurate results about what is happening beneath your feet. An MWD system is a fully integrated, battery-powered continuous telemetry tool that provides real-time data to the driller while drilling. MWD services offer well planning to the customers by providing an accurate good path.
LWD Services is a type of directional drilling service that surveys and measures borehole inclination, elevation angle, radioactivity, and other physical quantities. The primary purpose of LWD services is to obtain accurate measurements from inside the wellbore in order to monitor formation changes during a drilling operation. LWD Services are the services provided by oil and gas drilling companies that allow them to avoid risks like stuck pipes, lost circulation, or drill string failure. MWD and LWD Survey Services improve the productivity of good operations and help in directional control.
Rotary Steerable System (RSS) services are drilling operations that use a vertical drill string to steer the good path. RSS is also known as MWD/LWD combined service where both types of data are acquired simultaneously. This type of system creates highly accurate directional surveys with shallow angles using conventional wireline equipment, thus making it possible for geologists and engineers to view images produced during an actual borehole trip in real-time at any depth interval desired.
Repair & Maintenance Services are the services that help in minimizing downtime of equipment and reparation. These include inspections, upgrades, preventative maintenance programs, etc., and are done to reduce downtime and increase efficiency. A service offered to the downhole tools for repair and maintenance of directional drilling (DOD) systems. The recorded growth in the global oil & gas industry is expected to fuel the demand for Repair & Maintenance Services over the forecast period.
On the basis of Application, the global directional drilling solutions and services market is segmented into Onshore and Offshore.
On the basis of Region, the global directional drilling solutions and services market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market in North America is estimated to be dominant during the forecast period. The growth of this region can mainly be attributed to the increasing focus on the development of shale gas and oil by various countries, such as Canada, U.S., Mexico, etc.; growing investments towards energy resources; the presence of key industry players; increase in drilling activities for exploration & production (E&P) activities; government initiatives taken up by different countries; and technological advancements that are taking place rapidly. The market for directional drilling services in Europe is a very competitive one. The major players operating in this region are Schlumberger, Halliburton, and Baker Hughes. The Asia Pacific directional drilling solutions and services market is projected to grow at the highest CAGR during the forecast period. Currently, the directional drilling solutions and services market in Middle East & Africa is at an early stage. However, with an increasing number of large-scale oilfield projects in the region along with the growing demand for energy security; this regional market will experience a promising growth rate during the forecast period (2021 to 2028).
The growth factors for the global directional drilling solutions and services market are: ・Increasing need of oil & gas industry in North America, Latin America, and Middle East regions. ・Government regulations to improve infrastructure facilities around high-density population cities. ・Reduction in installation time with a new generation product line using microtunneling technology is expected to drive the demand for directional drilling solutions.
Up Market Research published a new report titled “Directional Drilling Solutions amp Services Market research report which is segmented by Types (MWD Services, LWD Services, Rotary Steerable System (RSS) Services, Repair & Maintenance Services, Consulting & Other Services), By Applications (Onshore, Offshore), By Players/Companies Schlumberger, Key Strategies, Halliburton, Downhole Drilling Services, Segofs Energy Services, General Electric, KAMBI Enterprises, Tolteq Group, APS Technology, Shanghai Oilfield Equipment, Beijing Geoshine Oilfield Technology Services, Compass Directional Guidance, Scientific Drilling International, CBG Corp, China Oilfield Services Limited (COSL), Weatherford, Bench Tree, Newsco International Energy Services”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Directional Drilling Solutions amp Services Market Research Report |
By Type | MWD Services, LWD Services, Rotary Steerable System (RSS) Services, Repair & Maintenance Services, Consulting & Other Services |
By Application | Onshore, Offshore |
By Companies | Schlumberger, Key Strategies, Halliburton, Downhole Drilling Services, Segofs Energy Services, General Electric, KAMBI Enterprises, Tolteq Group, APS Technology, Shanghai Oilfield Equipment, Beijing Geoshine Oilfield Technology Services, Compass Directional Guidance, Scientific Drilling International, CBG Corp, China Oilfield Services Limited (COSL), Weatherford, Bench Tree, Newsco International Energy Services |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 241 |
Number of Tables & Figures | 169 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type MWD Services, LWD Services, Rotary Steerable System (RSS) Services, Repair & Maintenance Services, Consulting & Other Services and By Application Onshore, Offshore.
Some of the companies that are profiled in this report are:
Directional Drilling Solutions amp Services Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Directional Drilling Solutions amp Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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