Albany, NY -- (SBWIRE) -- 03/21/2018 -- Directional drilling controls the trajectory and deviation of the well during drilling operations. It deviates a wellbore and explore the oilfields from a targeted location. Rise in energy demand due to the shale gas revolution, urbanization & industrialization, and oilfield discoveries in onshore as well as offshore locations are major factors driving the directional drilling service market. Horizontal directional drilling (HDD) or directional boring is a steerable trenchless method of installing conduits, cables, and underground pipes with minimum effect to the contiguous area. HDD is primarily used for utility installation, cable laying, and underground construction.
View Report Preview:
Directional drilling services have transformed the oil and gas industry. Oil and gas can be extracted economically from the deep ocean floor using directional drilling. It is also used to deplete and formerly abandoned oil wells. Directional drilling technology increases the area covered by a single rig, saving capital expenditure. Increase in demand for chemical and petrochemicals products and rise in exploration and production activities in distant locations and deep waters are boosting the oil & gas segment of the market. Volatility of the crude oil market and environmental concerns during drilling operation are restraining the directional drilling services market.
The direction drilling services market can be segmented based on application, type, services, and region. In terms of application, the market can be bifurcated into onshore and offshore. Based on types, the market can be split into conventional and rotary steerable system. The conventional segment is expected to holds a major share of the market in Asia Pacific due to rapid urbanization & industrialization in the region. In terms of services, the direction drilling services market can be divided into measurement while drilling (MWD) & survey, logging while drilling (LWD), motors, rotary steerable system (RSS), and others (automated drilling systems, well bore positioning, side tracking, hydraulics, well planning, drag analysis, and torque). The rotary steerable system (RSS) segment is expected to account for a major share of the directional drilling services market due to the increase in use of directional and horizontal drilling activities in exploration and production (E&P) of shale gas.
Based on region, the directional drillings services market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America is a dominating market for directional drilling services as most of the directional and horizontal wells are drilled in the region. In North America, the evolution of the directional drilling services market can be ascribed to factors such as drilling activity for shale gas in countries like U.S. and Canada. The U.S. is the dominant player in this region owing to the increase in E&P activities for shale gas in the Gulf of Mexico. The market in North America is followed by Asia Pacific, which is also driven by E&P activities in China and India. China is one of the major consumers of oil & gas, was planned to increase natural gas consumption as it seems to be replace coal as a chief energy source due to stringent government regulation. Middle East and Africa is also key market player for E&P of crude oil. This is expected to increase in near future due to the increase in production of onshore and offshore exploration activities. However, uncertainty of the upstream oil market and low crude oil prices increases the focus on renewable energy, which can restrain the directional drilling services market.
Key players operating in the global directional drilling services market include, Halliburton Company, Baker Hughes Incorporated, National Oil well Varco, Inc., Weatherford International plc, Jindal Drilling & Industries Limited, Cathedral Energy Services Ltd., and Schlumberger Limited.
Request to view Sample Report:
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.