Directional drilling is the process of drilling into wellbores to tap out many types of resources, primarily petroleum related products. The market has maintained a substantial growth throughout time with the rising global energy demands. While economies have started transitioning to renewable sources for fulfilling their energy requirements, oil still proves to be a stable source (in terms of output) for energy, and economies continue to remain heavily dependent on it. Other than for oil extraction, directional drilling is employed in various other mineral mining activities. Chief amongst these are the extractions of natural gas and shale gas. Recent times have seen an increasing interest towards inland shale gas discovery and extraction.
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The directional drilling market is heavily dependent on global energy demands. While economies have started experimenting with renewable alternatives, continued dependability on oil remains the most important driving force for the market’s growth. Another development that has aided the market is the development of shale gas in many countries.
While rising concerns of ecological conservation have not left a deep mark on the market, it still remains one of its biggest concerns. If economies were to completely do away with oil and its by-products, the market would suffer tremendous losses.
The market is segmented based on technology and application. In terms of technology, the market is segmented into rotary steerable, MWD (measurement while drilling), LWD (logging while drilling), motors, and directional surveys. Out of all these, rotary steerable enjoys the largest market share.
This can be attributed to the increase in horizontal drilling activities associated with the development of shale gas in many countries.
In terms of application, the market is segmented into offshore and onshore. A high natural occurrence of oil in offshore zones has established the offshore segment as the more prominent one. Rise in discovery and extraction of shale gas have also given a considerable boost to this segment.
Geographically, Asia Pacific, Europe, and the Americas have the biggest market shares in terms of capacity. Amongst these, Asia Pacific is the largest, and also the fastest growing. Falling in closely behind are Europe and the Americas.
Prominent players in the directional drilling market include Haliburton, Schlumberger, Baker Hughes, National Oilwell Varco, Weatherford, Nabors Industries, General Electric Oil and Gas and LEAM Drilling Systems.
Report Contents Regional Analysis Report Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
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Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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