Directional Drilling Services Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Description
Directional Drilling Services Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Directional Drilling Services Market
The global directional drilling services market size was valued at USD 10.38 billion in 2019 and is projected to grow to USD 21.68 billion by 2032, exhibiting a CAGR of 8.33% during the forecast period of 2020-2032.
The pandemic briefly slowed the Directional Drilling Services Market because of disruptions within the oil and gas industry, lower demand, and decreased investments. However, as oil expenses stabilized and drilling activities resumed, the market gradually recovered, impeding the directional drilling services market growth.
The Directional Drilling Services Market is driven by an increasing call for oil and fuel exploration, technological improvements in drilling strategies, and the want for efficient drilling in complex reservoirs—the developing adoption of advanced drilling technology and the expansion of offshore drilling projects further gas marketplace boom.
Digitalization and automation are transforming the directional drilling services marketplace. By digitizing drilling operations and utilizing advanced data analytics, corporations can enhance efficiency, reduce expenses, and make record-pushed selections, expanding the directional drilling services market share globally. Remote operations also decorate safety and permit far-flung understanding to optimize drilling techniques. These advancements drive the industry toward a more efficient, reliable, and sustainable destiny.
Comprehensive Analysis of Directional Drilling Services Market
The Directional Drilling Services Market is segmented by type, region, and service. In terms of kind, the traditional phase is predicted to preserve the most significant market proportion because of its low operation price and efficiency in drilling low-angle wells; at the same time the rotary steerable device (RSS) phase is growing because of its capability to drill long horizontal wells in complicated formations. By place, the onshore section is set to develop extensively because of more straightforward drilling methods and resource availability. At the same time, the offshore segment will make bigger due to investments in drilling a couple of wells from a single platform. In phrases of service, the market is pushed by the growing adoption of Measurement While Drilling (MWD) and Logging While Drilling (LWD) strategies, which allow for actual-time tracking and green deep formation drilling. The rotary steerable structures (RSS) additionally provide more desirable directional drilling competencies.
The North America region led the directional drilling services market by benefitting a size of USD 4.36 billion in 2019 due to huge discoveries inside the oil & gasoline industry and tremendous capacity for exploring oilfields.
The leading players in the directional drilling services market significantly impact its growth trajectory and help shape industry standards. Key players, including Schlumberger (Texas, US), Baker Hughes (Texas, US), Halliburton (Texas, US), Weatherford (Texas, US), National Oilwell Varco (Texas, US), Nabors Industries (Hamilton, Bermuda), Leam Drilling Systems LLC (Louisiana, US), Jindal Drilling & Industries Limited (Haryana, India), Gyrodata (Texas, US), China Oilfield Services Limited (Beijing, China), Phoenix Technology Services (Calgary, Canada), Scientific Drilling (Texas, US), AlMansoori Specialized Engineering (Abu Dhabi, UAE), NewTech Services (Moscow, Russia), and Integra (New Jersey, US), contribute to a competitive landscape, driving innovation and advancing market growth.
In October 2019, Schlumberger added an at-bit steerable machine designed for drilling horizontal wells in an unmarried skip, presenting a distinct slicing shape and steerage mechanisms.
Segmentation Table
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Historical Period 2016-2018
Unit Value (USD Billion)
SegmentationBy Type
Conventional
Rotary Steerable Systems (RSS)
By Location
Onshore
Offshore
By Service
Measurement While Drilling (MWD)
Logging While Drilling (LWD)
Rotary Steerable System
Mud Motors
Others
By Geography
North America (U.S. and Canada)
Europe (U.K., Germany, France, Italy, Norway, Russia, and Rest of Europe)
Asia-Pacific (China, India, Australia, Indonesia, Thailand, and Rest of Asia- Pacific)
Latin America (Brazil, Mexico, Argentina, Chile, Peru, and Rest of Latin America)
The Middle East & Africa (Saudi Arabia, UAE, Qatar, Kuwait, Oman, Algeria, and Rest of the Middle East & Africa)
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Table of Contents
140 Pages
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
- 5. Qualitative Analysis – Impact of COVID-19
- 5.1. Impact of COVID-19 on the Directional Drilling Services Market
- 5.2. Steps Taken by the Government to Overcome the Impact
- 5.3. Key Developments by Industry Players in Response to COVID-19
- 5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
- 6. Global Directional Drilling Services Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Conventional
- 6.2.2. Rotary Steerable Systems (RSS)
- 6.3. Market Analysis, Insights and Forecast – By Location
- 6.3.1. Onshore
- 6.3.2. Offshore
- 6.4. Market Analysis, Insights and Forecast – By Service
- 6.4.1. Measurement While Drilling (MWD)
- 6.4.2. Logging While Drilling (LWD)
- 6.4.3. Rotary Steerable System
- 6.4.4. Mud Motors
- 6.4.5. Others
- 6.5. Market Analysis, Insights and Forecast – By Region
- 6.5.1. North America
- 6.5.2. Latin America
- 6.5.3. Europe
- 6.5.4. Asia Pacific
- 6.5.5. Middle East and Africa
- 7. North America Directional Drilling Services Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Conventional
- 7.2.2. Rotary Steerable Systems (RSS)
- 7.3. Market Analysis, Insights and Forecast – By Location
- 7.3.1. Onshore
- 7.3.2. Offshore
- 7.4. Market Analysis, Insights and Forecast – By Service
- 7.4.1. Measurement While Drilling (MWD)
- 7.4.2. Logging While Drilling (LWD)
- 7.4.3. Rotary Steerable System
- 7.4.4. Mud Motors
- 7.4.5. Others
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. U.S.
- 7.5.2. Canada
- 8. Latin America Directional Drilling Services Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Conventional
- 8.2.2. Rotary Steerable Systems (RSS)
- 8.3. Market Analysis, Insights and Forecast – By Location
- 8.3.1. Onshore
- 8.3.2. Offshore
- 8.4. Market Analysis, Insights and Forecast – By Service
- 8.4.1. Measurement While Drilling (MWD)
- 8.4.2. Logging While Drilling (LWD)
- 8.4.3. Rotary Steerable System
- 8.4.4. Mud Motors
- 8.4.5. Others
- 8.5. Insights and Forecast – By Country
- 8.5.1. Brazil
- 8.5.2. Mexico
- 8.5.3. Argentina
- 8.5.4. Chile
- 8.5.5. Peru
- 8.5.6. Rest of Latin America
- 9. Europe Directional Drilling Services Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Conventional
- 9.2.2. Rotary Steerable Systems (RSS)
- 9.3. Market Analysis, Insights and Forecast – By Location
- 9.3.1. Onshore
- 9.3.2. Offshore
- 9.4. Market Analysis, Insights and Forecast – By Service
- 9.4.1. Measurement While Drilling (MWD)
- 9.4.2. Logging While Drilling (LWD)
- 9.4.3. Rotary Steerable System
- 9.4.4. Mud Motors
- 9.4.5. Others
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. U.K.
- 9.5.2. Germany
- 9.5.3. France
- 9.5.4. Italy
- 9.5.5. Norway
- 9.5.6. Russia
- 9.5.7. Rest of Europe
- 10. Asia Pacific Directional Drilling Services Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Type
- 10.2.1. Conventional
- 10.2.2. Rotary Steerable Systems (RSS)
- 10.3. Market Analysis, Insights and Forecast – By Location
- 10.3.1. Onshore
- 10.3.2. Offshore
- 10.4. Market Analysis, Insights and Forecast – By Service
- 10.4.1. Measurement While Drilling (MWD)
- 10.4.2. Logging While Drilling (LWD)
- 10.4.3. Rotary Steerable System
- 10.4.4. Mud Motors
- 10.4.5. Others
- 10.5. Market Analysis, Insights and Forecast – By Country
- 10.5.1. China
- 10.5.2. India
- 10.5.3. Indonesia
- 10.5.4. Thailand
- 10.5.5. Australia
- 10.5.6. Rest of Asia Pacific
- 11. Middle East & Africa Directional Drilling Services Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 11.1. Key Findings / Summary
- 11.2. Market Analysis, Insights and Forecast – By Type
- 11.2.1. Conventional
- 11.2.2. Rotary Steerable Systems (RSS)
- 11.3. Market Analysis, Insights and Forecast – By Location
- 11.3.1. Onshore
- 11.3.2. Offshore
- 11.4. Market Analysis, Insights and Forecast – By Service
- 11.4.1. Measurement While Drilling (MWD)
- 11.4.2. Logging While Drilling (LWD)
- 11.4.3. Rotary Steerable System
- 11.4.4. Mud Motors
- 11.4.5. Others
- 11.5. Market Analysis, Insights and Forecast – By Country
- 11.5.1. Saudi Arabia
- 11.5.2. UAE
- 11.5.3. Qatar
- 11.5.4. Kuwait
- 11.5.5. Oman
- 11.5.6. Algeria
- 11.5.7. Rest of Middle East & Africa
- 12. Competitive Analysis
- 12.1. Company Market Share Analysis, 2019
- 12.2. Key Industry Developments
- 12.3. Company Profile
- 12.3.1. Schlumberger
- 12.3.1.1. Business Overview
- 12.3.1.2. Type & Service Offering
- 12.3.1.3. Overall Revenue
- 12.3.1.4. Geographic Presence
- 12.3.1.5. Recent Development
- 12.3.2. Baker Hughes, a GE company
- 12.3.2.1. Business Overview
- 12.3.2.2. Type & Service Offering
- 12.3.2.3. Overall Revenue
- 12.3.2.4. Geographic Presence
- 12.3.2.5. Recent Development
- 12.3.3. Weatherford
- 12.3.3.1. Business Overview
- 12.3.3.2. Type & Service Offering
- 12.3.3.3. Overall Revenue
- 12.3.3.4. Geographic Presence
- 12.3.3.5. Recent Development
- 12.3.4. Nabors Industries
- 12.3.4.1. Business Overview
- 12.3.4.2. Type & Service Offering
- 12.3.4.3. Overall Revenue
- 12.3.4.4. Geographic Presence
- 12.3.4.5. Recent Development
- 12.3.5. Halliburton
- 12.3.5.1. Business Overview
- 12.3.5.2. Type & Service Offering
- 12.3.5.3. Overall Revenue
- 12.3.5.4. Geographic Presence
- 12.3.5.5. Recent Development
- 12.3.6. National Oilwell Varco
- 12.3.6.1. Business Overview
- 12.3.6.2. Type & Service Offering
- 12.3.6.3. Overall Revenue
- 12.3.6.4. Geographic Presence
- 12.3.6.5. Recent Development
- 12.3.7. Leam Drilling Systems LLC
- 12.3.7.1. Business Overview
- 12.3.7.2. Type & Service Offering
- 12.3.7.3. Overall Revenue
- 12.3.7.4. Geographic Presence
- 12.3.7.5. Recent Development
- 12.3.8. Jindal Drilling & Industries Limited
- 12.3.8.1. Business Overview
- 12.3.8.2. Type & Service Offering
- 12.3.8.3. Overall Revenue
- 12.3.8.4. Geographic Presence
- 12.3.8.5. Recent Development
- 12.3.9. Gyrodata
- 12.3.9.1. Business Overview
- 12.3.9.2. Type & Service Offering
- 12.3.9.3. Overall Revenue
- 12.3.9.4. Geographic Presence
- 12.3.9.5. Recent Development
- 12.3.10. China Oilfield Services Limited
- 12.3.10.1. Business Overview
- 12.3.10.2. Type & Service Offering
- 12.3.10.3. Overall Revenue
- 12.3.10.4. Geographic Presence
- 12.3.10.5. Recent Development
- 12.3.11. Phoenix Technology Services
- 12.3.11.1. Business Overview
- 12.3.11.2. Type & Service Offering
- 12.3.11.3. Overall Revenue
- 12.3.11.4. Geographic Presence
- 12.3.11.5. Recent Development
- 12.3.12. Scientific Drilling
- 12.3.12.1. Business Overview
- 12.3.12.2. Type & Service Offering
- 12.3.12.3. Overall Revenue
- 12.3.12.4. Geographic Presence
- 12.3.12.5. Recent Development
- 12.3.13. AlMansoori Specialized Engineering
- 12.3.13.1. Business Overview
- 12.3.13.2. Type & Service Offering
- 12.3.13.3. Overall Revenue
- 12.3.13.4. Geographic Presence
- 12.3.13.5. Recent Development
- 12.3.14. NewTech Services
- 12.3.14.1. Business Overview
- 12.3.14.2. Type & Service Offering
- 12.3.14.3. Overall Revenue
- 12.3.14.4. Geographic Presence
- 12.3.14.5. Recent Development
- 12.3.15. Integra
- 12.3.15.1. Business Overview
- 12.3.15.2. Type & Service Offering
- 12.3.15.3. Overall Revenue
- 12.3.15.4. Geographic Presence
- 12.3.15.5. Recent Development
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