The key factor that is driving the directional drilling market is the increasing oil prices around the world.
Sarasota, FL -- (SBWIRE) -- 03/27/2017 -- Zion Market Research, the market research group announced the analysis report titled "Directional Drilling Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Global Directional Drilling Market: Overview
The process of drilling where the contractors try and change or alter the azimuth or inclination of the drill hole is known as directional drilling. This is achieved using wedging tools or directional drilling tools and by bottom hole assembly selections. To complete the project smoothly, the drilling contractors properly plan a method in order to control or change the drilling holes direction. The drilling contractors use long reaming shells, full hole barrels in the bottom hole assembly selection method to drill hole.
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Global Directional Drilling Market: Segmentation
The directional drilling market is globally segmented into its application, type, service, and regions. On the basis of application, the global market is segregated into offshore and onshore. Based on the type, the market is divided into rotary steerable system and conventional. On the basis of services, the market is categorized into measurement while drilling (MWD) & survey, motors, logging while drilling (LWD), the rotary steerable system (RSS), and others. Geographically, the directional drilling market is diversified into Asia Pacific, North America, Europe, South America, and the Middle East and Africa.
Global Directional Drilling Market: Growth Factors
The key factor that is driving the directional drilling market is the increasing oil prices around the world. To improve the efficiency and to increase the productivity of the oil drilling process there has been rise in the requirement of the directional drilling. The maturity of the drilling sites that are onshore has led to the exploration of various offshore resource sites. To gain the higher control on the direction of the holes in the new sites the drilling contractors of the oil and gas companies look forward towards the directional drilling technique. Other factor that is driving the directional drilling market is its ability to recover the drilling equipment and the drilling spear from the hole. Hence, in the situations where metals cannot be left out in the hole directional drilling technique is used. The increasing demand for deep and ultra-deep water oil and gas reserves has increased the demand for the directional drilling technique.
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Global Directional Drilling Market: Regional Analysis
The region that dominated the directional drilling market is the North America. The factor that attributes to this market growth is that most of the horizontal and directional wells are drilled in the reservoirs that are onshore. The increasing shale gas developments in the developed countries such as Canada and US are also contributing to the market growth. North America is followed by Europe and Asia-Pacific region. The increasing demand for the oil and gas reserves in the regions is contributing to the market growth in the regions.
Global Directional Drilling Market: Competitive Players
The major market players in the directional drilling market include Baker Hughes Incorporated, Schlumberger Limited, National Oilwell Varco, Inc., Cathedral Energy Services Ltd., General Electric Oil & Gas, LEAM drilling systems LLC., Halliburton Company, Halliburton Company, Weatherford International Plc., Nabors industries Ltd., Jindal Drilling & Industries Limited, and Scientific Drilling International.
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Global Directional Drilling Market: Regional Segment Analysis
The Middle East and Africa
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Important changes in market dynamics
Segmentation details of the market
Former, on-going, and projected market analysis in terms of volume and value
Assessment of niche industry developments
Market share analysis
Key strategies of major players
Emerging segments and regional markets
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