North America Geosteering Technology Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product (Logging While Drilling (LWD), Measurement-While-Drilling (MWD), Rotary Steerable Systems (RSS), Drive Systems, and Others) and Application (Pe

North America Geosteering Technology Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product (Logging While Drilling (LWD), Measurement-While-Drilling (MWD), Rotary Steerable Systems (RSS), Drive Systems, and Others) and Application (Petroleum Development, Natural Gas Transportation, and Others)

The geosteering technology market in North America is expected to grow from US$ 4,988.03 million in 2019 to US$ 8,597.20 million by 2027; it is estimated to grow at a CAGR of 11.0% from 2020 to 2027.

Growing production of shale and resulting hike in horizontal and unconventional drilling is expected to escalate the North America geosteering technology market. Via a horizontal drilling and hydraulic fracturing process in which water, sand, and chemical additives are pumped under high pressure to preserve and create cracks in underground rocks, both shale oil and shale gas are hydrocarbon resources extracted from shale formations that lie below the earth's surface. They are called as unconventional hydrocarbon resources. The geosteering technology helps in optimizing the position of a horizontal wellbore within the reservoir at different spots. Exploration and production (E&P) technologies related to communication of vital data in real-time through the Internet, advanced and accurate directional drilling, as well as reduced cycle time associated with forward-looking 3D geo-modeling and visualization technologies, are currently converging. Growing willingness to minimize or eliminate the associated costs is responsible for advancing the horizontal well-geosteering process by integrating the measurement-while-drilling (MWD) instrument into conventional drilling practices. Thus, the growing production of shale and a resulting hike in horizontal and unconventional drilling is expected to increase demand of geosteering technology due to its advantage such as position optimization, reduced cycle time etc. which will drive the North America geosteering technology market. The rising demand for precise real-time information to achieve highest production is among the other factors expected to positively influence the demand for geosteering technology in North America which will drive the North America geosteering technology market.

Moreover, North America, especially the US, witnessed an unprecedented rise in number of COVID-19 cases which disrupted its manufacturing activities across several industry vertical including oil & gas sector and subsequently impacted the North America geosteering technology market during the early months of 2020. Moreover, the considerable decline in overall global oil prices further restricted the oil drilling and other activities that negatively influenced the demand for geosteering services among its considerably large end-user base which has affected the geosteering technology market in North America. Similar trend was also witnessed in other North American countries, such as Canada and Mexico. However, the countries are expected to gain momentum in demand as they continue to open their economic activities especially in the 2nd half of 2020 for revival of business activities in oil and gas industry which will drive the North America geosteering technology market.

Based on product, the logging while drilling (LWD) segment dominated the North America geosteering technology market in 2019. Logging While Drilling (LWD) is an oilfield technique for providing tool within drill strings that helps in transmitting real-time formation information. LWD deals with measurements related to geological formation made while drilling, and works with measurement-while-drilling system to share measurement results to the surface. LWD ensures the subsurface measurement in conditions where wellbores are difficult to measure using traditional wireline tools, thereby growing the North America geosteering technology market. Information collected by LWD tool helps the user’s greater visibility to the reservoir and helps in timely decision making and accurate well-placement. The companies operating in the North America geosteering technology market are focusing on offering advanced LWD technology services and solutions to achieve a strong market position in geosteering technology market and attract more customers. Advantages of LWD, such as accuracy and less drilling risk and real time information, are expected to increase the demand for geosteering technology, thereby driving the North America geosteering technology market.

The overall North America geosteering technology market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the North America geosteering technology market. The process also serves the purpose of obtaining overview and forecast for the North America geosteering technology market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, geosteering technology market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the North America geosteering technology market. Cougar Drilling Solution Inc.; Emerson Paradigm Holding LLC; Exlog; Geonaft; Geotech Logging Services LLC; Halliburton Energy Services, Inc.; HMG Software LLC; ROGII Inc.; Schlumberger Limited; and Terracosm Software, LLC are among the key players operating in the North America geosteering technology market.

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1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Geosteering Technology Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Geosteering Technology Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Precise Real-Time Information to Achieve Highest Production
5.1.2 Growing Production of Shale and Resulting Hike in Horizontal and Unconventional Drilling
5.2 Market Restraints
5.2.1 High Materials and Manufacturing Process Cost
5.3 Market Opportunities
5.3.1 Increase in Initiatives for Digitization of Geosteering Technology by Market Players
5.4 Future Trends
5.4.1 Surge in Demand for Intensive R&D
5.5 Impact Analysis of Drivers and Restraints
6. Geosteering Technology Market – North America Analysis
6.1 North America Geosteering Technology Market Overview
6.2 North America Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Market Players Ranking
7. North America Geosteering Technology Market Analysis – By Product
7.1 Overview
7.2 North America Geosteering Technology Market, By Product (2019 and 2027)
7.3 Logging While Drilling
7.3.1 Overview
7.3.2 Logging While Drilling: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Measurement-While-Drilling
7.4.1 Overview
7.4.2 Measurement-While-Drilling: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
7.5 Rotary Steerable Systems
7.5.1 Overview
7.5.2 Rotary Steerable Systems: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
7.6 Drive Systems
7.6.1 Overview
7.6.2 Drive Systems: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
8. North America Geosteering Technology Market Analysis – By Application
8.1 Overview
8.2 North America Geosteering Technology Market, By Application (2019 and 2027)
8.3 Petroleum Development
8.3.1 Overview
8.3.2 Petroleum Development: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
8.4 Natural Gas Transportation
8.4.1 Overview
8.4.2 Natural Gas Transportation: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9. North America Geosteering Technology Market – Country Analysis
9.1 Overview
9.1.1 North America: Geosteering Technology Market, by Key Country
9.1.1.1 US: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.1.1.1.1 US: Geosteering Technology Market, by Product
9.1.1.1.2 US: Geosteering Technology Market, by Application
9.1.1.2 Canada: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.1.1.2.1 Canada: Geosteering Technology Market, by Product
9.1.1.2.2 Canada: Geosteering Technology Market, by Application
9.1.1.3 Mexico: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
9.1.1.3.1 Mexico: Geosteering Technology Market, by Product
9.1.1.3.2 Mexico: Geosteering Technology Market, by Application
10. Impact of COVID-19 Pandemic- North America Geosteering Technology Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Market Initiative
11.2 Merger and Acquisition
11.3 New Development
12. Company Profiles
12.1 Cougar Drilling Solution Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Emerson Paradigm Holding LLC
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Exlog
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Geonaft
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Geotech Logging Services LLC
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Halliburton Energy Services, Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 HMG Software LLC
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 ROGII Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Schlumberger Limited
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Terracosm Software, LLC
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
List of Tables
Table 1. North America Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Table 2. US: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 3. US: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 4. Canada: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 5. Canada: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 6. Mexico: Geosteering Technology Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 7. Mexico: Geosteering Technology Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 8. List of Abbreviation
List of Figures
Figure 1. North America Geosteering Technology Market Segmentation
Figure 2. North America Geosteering Technology Market Segmentation – By Country
Figure 3. North America Geosteering Technology Market Overview
Figure 4. North America Geosteering Technology Market Outlook
Figure 5. North America Geosteering Technology Market – Product Analysis
Figure 6. North America Geosteering Technology Market – Application Analysis
Figure 7. North America Geosteering Technology Market – Country Analysis
Figure 8. North America: PEST Analysis
Figure 9. North America Geosteering Technology Market – Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. North America Geosteering Technology Market Impact Analysis of Drivers and Restraints
Figure 12. North America Geosteering Technology Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. North America Geosteering Technology Market Revenue Share, by Product (2019 and 2027)
Figure 14. North America Logging While Drilling: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 15. North America Measurement-While-Drilling: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. North America Rotary Steerable Systems: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 17. North America Drive Systems: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. North America Others: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. North America Geosteering Technology Market Revenue Share, by Application (2019 and 2027)
Figure 20. North America Petroleum Development: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 21. North America Natural Gas Transportation: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 22. North America Others: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 23. North America: Geosteering Technology Market Revenue Share, by Key Country (2019 and 2027)
Figure 24. US: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 25. Canada: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 26. Mexico: Geosteering Technology Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic on North American Country Markets

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