Increasing discoveries of new oilfields to drive the growth of global directional drilling market
According to TechSci Research report, “Global Directional Drilling Market By Type (At-Bit Steerable System, Rotary Steerable System), By Component (Drilling Tool Rental, Rig Rental, OCTG Rental, Consumables, Others), By Service (Drilling, Logging-While-Drilling (LWD), Measurement-While-Drilling (MWD) & Survey, Motors (MUD Motors), Others), By Technology (Wellbore Positioning, Side Tracking, Well Planning, Others), By Application (Onshore v/s Offshore), By Field Development Type (Greenfield Vs Brownfield), By Region, Forecast & Opportunities, 2025”, the global directional drilling market is expected to grow at a steady rate during the forecast period on account of the ongoing shale gas developments. However, growing focus on renewable and cleaner forms of energy is expected to hamper the growth of market during forecast period. Additionally, stringent government regulatory policies regarding oil & gas field developments are further expected to restrict the growth of market over 2025.
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The global directional drilling market is segmented based on type, component, service, technology, application, field development type, company and region. Based on type, the market can be bifurcated into at-bit steerable system and rotary steerable system. The rotary steerable system is expected to dominate the market during forecast years. This can be attributed to the need for remote steering which provides improved trajectory control resulting in reduced drilling time and smoother well bores. Based on service, the market can be fragmented into drilling, logging-while-drilling (LWD), measurement-while-drilling (MWD) & survey, motors (MUD Motors), and others. The measurement-while-drilling (MWD) & survey segment is expected to hold the largest market share during forecast period. This can be ascribed to the ability to continuously monitor wellbore and the real time directional survey of downhole conditions. Based on application, the market can be divided into onshore and offshore. The onshore segment is expected to dominate the market over the course of next five years owing to the increasing number of maturing onshore wells.
Baker Hughes Company, Halliburton Company, Schlumberger Limited, National Oilwell Varco, Inc., Gyrodata Incorporated, Scientific Drilling International, Leam Drilling Systems, LLC, Weatherford International Inc., Jindal Drilling & Industries Limited, Cathedral Energy Services Ltd. and others are some of the leading players operating in global directional drilling market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. For instance, in October 2016, National Oilwell Varco, developed its closed loop automation system. This system uses intelligent controls to develop its technology. This system is a combination of drilling systems, software application of eVolve Optimization Service, NOV Operating System (NOVOS) and control systems. This system will enhance the operators drilling operations. Furthermore, in September 2016, Halliburton Company released new drilling motors GeoForce Endure and StrataForce Endure motors, these motors reduce non-productive time associated with chunking, and enhances the motors reliability in harsh environments.
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“North America is expected to dominate the directional drilling market until 2025, owing to the ongoing technological advancements in drilling such as long-reach horizontal well bores in the region. Furthermore, the increasing shale gas explorations especially in the United states and Canada are projected to foster the growth of market during the forecast years. Additionally, increasing investments by the governments across the globe and key players in the market is further spurring the growth of market in the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Directional Drilling Market By Type (At-Bit Steerable System, Rotary Steerable System), By Component (Drilling Tool Rental, Rig Rental, OCTG Rental, Consumables, Others), By Service (Drilling, Logging-While-Drilling (LWD), Measurement-While-Drilling (MWD) & Survey, Motors (MUD Motors), Others), By Technology (Wellbore Positioning, Side Tracking, Well Planning, Others), By Application (Onshore v/s Offshore), By Field Development Type (Greenfield Vs Brownfield), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global directional drilling market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global directional drilling market.
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