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Global Directional Drilling Market 2017-2021

Global Directional Drilling Market 2017-2021

About Directional Drilling

Directional drilling is the practice of deviating the wellbore along a planned path to a specific location (also known as target location). The target location is predetermined and is at a given lateral distance and direction from the vertical. Directional drilling is carried out as vertically as possible from a given true vertical depth (TVD).

Technavio’s analysts forecast the global directional drilling market to grow at a CAGR of 4.88% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global directional drilling market for 2017-2021. To calculate the market size, the report considers the services market.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Directional Drilling Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Baker Hughes
  • Halliburton
  • Schlumberger
  • Weatherford
Other prominent vendors
  • Cathedral Energy Services
  • Directional Technologies
  • Ensco
  • Gyrodata
  • Jindal Drilling and Industries
  • LEAM Drilling Systems
  • MOTIVE DRILLING TECHNOLOGIES
  • Nabors Industries
  • National Oilwell Varco
  • Seadrill
  • SCIENTIFIC DRILLING INTERNATIONAL
  • TRANSOCEAN
Market driver
  • Rise in the development of unconventional oil and gas resources
  • For a full, detailed list, view our report
Market challenge
  • Fluctuations in oil and gas prices
  • For a full, detailed list, view our report
Market trend
  • Technological innovations
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Directional Drilling Market 2017-2021

Technavio recognizes the following companies as the key players in the global directional drilling market: Baker Hughes, Halliburton, Schlumberger, and Weatherford

Other Prominent Vendors in the market are: Cathedral Energy Services, Directional Technologies, Ensco, Gyrodata, Jindal Drilling and Industries, LEAM Drilling Systems, MOTIVE DRILLING TECHNOLOGIES, Nabors Industries, National Oilwell Varco, Seadrill, SCIENTIFIC DRILLING INTERNATIONAL, and TRANSOCEAN.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Technological innovations. The exploration and production of oil and gas are rising in the offshore region. Drilling operations are expanding in deep and ultra-deepwater exploration where the environmental conditions are more challenging. Thus, it becomes crucial to use technology that aids in reaching the target zones and the scope for human error is reduced. For instance, the deployment of motive directional drilling guidance system in oil and gas exploration has pioneered the use of cognitive computing that guides directional drilling process.”

According to the report, one of the major drivers for this market is Rise in the development of unconventional oil and gas resources. Unconventional oil and gas resources such as shale oil, tight oil, and coal bed methane are not only costly to produce but are also difficult to recover. Operational efficiencies and technological advances have made unconventional resource exploitation feasible and more profitable. Shale gas boom in the US saw the rise in unconventionally produced natural gas supply. Huge discovery of oil sands in Canada has created a wealth of opportunity for oil production. As the world energy focus shifts toward natural gas and heavy oil, unconventional sources such as shale have seen growth.

Further, the report states that one of the major factors hindering the growth of this market is Fluctuations in oil and gas prices. A phase of low crude oil prices has been witnessed that has put additional pressure on oil and gas service providing companies. Most of the companies have experienced this phase of low revenue that directly affects the financial aspect of the company. However, integrated oil companies were still able to absorb most of the pressure as the revenue was generated from the downstream sector, but upstream companies have been affected the most by oil price volatility.

Companies Mentioned

Baker Hughes, Halliburton, Schlumberger, Weatherford, Cathedral Energy Services, Directional Technologies, Ensco, Gyrodata, Jindal Drilling and Industries, LEAM Drilling Systems, MOTIVE DRILLING TECHNOLOGIES, Nabors Industries, National Oilwell Varco, Seadrill, SCIENTIFIC DRILLING INTERNATIONAL, and TRANSOCEAN.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
  • Market landscape
    • Market overview
      • Table Global directional drilling market overview
    • Market size and forecast
      • Table Global directional drilling market 2016-2021 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by application
    • Global directional drilling market by application
      • Table Global directional drilling market by application 2016 and 2021 (%)
      • Table Global directional drilling market 2016-2021 ($ billions)
    • Global onshore directional drilling market
      • Table Global onshore directional drilling market2016-2021 ($ billions)
    • Global offshore directional drilling market
      • Table Global offshore directional drilling market by2016-2021 ($ billions)
  • Geographical segmentation
    • Global directional drilling market by geography
      • Table Global directional drilling market by geography for 2016-2021 (%)
      • Table Global directional drilling market by geographical segmentation 2016-2021
    • Directional drilling market in the Americas
      • Table Directional drilling market in the Americas2016-2021 ($ billions)
    • Directional drilling market in EMEA
      • Table Directional drilling market in EMEA 2016-2021 ($ billions)
    • Directional drilling market in APAC
      • Table Directional drilling market in APAC 2016-2021 ($ billions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Global crude oil price 2012-2017 ($/bbl)
  • Market trends
    • Technological innovations
    • Discovery of new oil fields
    • Introduction of laser drilling
  • Vendor landscape
    • Competitive landscape
    • Other prominent vendors
  • Key vendor analysis
    • Baker Hughes
      • Table Baker Hughes: Directional drilling products and services
      • Table Recent developments
    • Halliburton
      • Table Halliburton: Directional drilling products and services
      • Table Recent developments
    • Schlumberger
      • Table Schlumberger: Directional drilling product and services
      • Table Recent developments
    • Weatherford
      • Table Weatherford: Directional drilling products and services
      • Table Recent developments
  • Appendix
    • List of abbreviations
  • Explore Technavio

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