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Global Horizontal Directional Drilling Market 2019-2023

Global Horizontal Directional Drilling Market 2019-2023

About this market

The rising drilling activities in remote areas are impacting the horizontal directional drilling market growth during the forecast period. E&P companies are starting to explore unconventional avenues for exploration in remote areas. For instance, the Middle East, the Gulf of Mexico, and the North Sea have been witnessing a reduction in the rate of production. In addition, the rise in the adoption of deepwater and ultra-deep-water drilling has further led to an increase in the investments of offshore drilling projects, in turn, contributing to the horizontal directional drilling market growth during the forecast period. Technavio’s analysts have predicted that the horizontal directional drilling market will register a CAGR of close to 8% by 2023.

Market Overview

Growing consumption of oil and gas

The consumption of oil and gas continues to increase due to the rising worldwide demand for energy. The increasing consumption of oil and gas is expected to grow due to the increase in industrialization and urbanization in developing countries.

Growing adoption of renewable energy

The increase in renewable energy sources will affect the conventional fuel market as more investments are being redirected toward renewable energy sources. This will affect the growth of the global horizontal directional drilling market during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the horizontal directional drilling market during 2019-2023, view our report.

Competitive Landscape

The market appears to be highly fragmented with the presence of several market players. The company is focusing on applications like predictable end-to-end real-time workflows, which are accessible from everywhere through the transformation of the cloud platform. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.


Press Release

Technavio Announces the Publication of its Research Report – Global Horizontal Directional Drilling Market 2019-2023

Technavio recognizes the following companies as the key players in the global horizontal directional drilling market: F. Hoffmann-La Roche Ltd, Merck KGaA, Novartis AG, Pfizer Inc., and Sanofi.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increase in production efficiency of oilfields using big data analytics.”

According to the report, one of the major drivers for this market is the drilling activities in remote areas.

Further, the report states that one of the major factors hindering the growth of this market is the growing adoption of renewable energy.

Companies Mentioned

Baker Hughes, a GE Co. LLC
Halliburton Co.
Nabors Industries Ltd.
Schlumberger Ltd.
Scientific Drilling International Inc.
Weatherford International Plc

  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global oilfield equipment and services market
      • Table Segments of global oilfield equipment and services market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by application
    • Table Application - Market share 2018-2023 (%)
    • Comparison by application
      • Table Comparison by application
    • Onshore - Market size and forecast 2018-2023
      • Table Onshore - Market size and forecast 2018-2023 ($ millions)
      • Table Onshore - Year-over-year growth 2019-2023 (%)
    • Offshore - Market size and forecast 2018-2023
      • Table Offshore - Market size and forecast 2018-2023 ($ millions)
      • Table Offshore - Year-over-year growth 2019-2023 (%)
    • Market opportunity by application
      • Table Market opportunity by application
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ millions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ millions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ millions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ millions)
      • Table MEA - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ millions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Automation in horizontal directional drilling technique
    • Innovations in rotary steerable systems
    • Increase in production efficiency of oilfields using big data analytics
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Baker Hughes, a GE Co. LLC
      • Table Baker Hughes, a GE Co. LLC - Vendor overview
      • Table Baker Hughes, a GE Co. LLC - Business segments
      • Table Baker Hughes, a GE Co. LLC - Organizational developments
      • Table Baker Hughes, a GE Co. LLC - Geographic focus
      • Table Baker Hughes, a GE Co. LLC - Segment focus
      • Table Baker Hughes, a GE Co. LLC - Key offerings
    • Halliburton Co.
      • Table Halliburton Co. - Vendor overview
      • Table Halliburton Co. - Business segments
      • Table Halliburton Co. - Organizational developments
      • Table Halliburton Co. - Geographic focus
      • Table Halliburton Co. - Segment focus
      • Table Halliburton Co. - Key offerings
    • Nabors Industries Ltd.
      • Table Nabors Industries Ltd. - Vendor overview
      • Table Nabors Industries Ltd. - Business segments
      • Table Nabors Industries Ltd. - Organizational developments
      • Table Nabors Industries Ltd. - Geographic focus
      • Table Nabors Industries Ltd. - Segment focus
      • Table Nabors Industries Ltd. - Key offerings
    • Schlumberger Ltd.
      • Table Schlumberger Ltd. - Vendor overview
      • Table Schlumberger Ltd. - Business segments
      • Table Schlumberger Ltd. - Organizational developments
      • Table Schlumberger Ltd. - Geographic focus
      • Table Schlumberger Ltd. - Segment focus
      • Table Schlumberger Ltd. - Key offerings
    • Scientific Drilling International Inc.
      • Table Scientific Drilling International Inc. - Vendor overview
      • Table Scientific Drilling International Inc. - Key offerings
    • Weatherford International Plc
      • Table Weatherford International Plc - Vendor overview
      • Table Weatherford International Plc - Business segments
      • Table Weatherford International Plc - Organizational developments
      • Table Weatherford International Plc - Segment focus
      • Table Weatherford International Plc - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of vendors positioning
      • Table Definition of vendors positioning
  • Explore Technavio

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