Global Directional Drilling Market Outlook to 2022 - Market Analysis by Geography, By Services and Location of Deployment (Onshore and Offshore), Competitive Landscape, Key Company Information - Growth Trends and Forecasts

Published - Jan 2017 | Category - Energy and Power | No. of Pages - 134 | Published By - Mordor Intelligence

Report Highlights

The global directional drilling market size is estimated to reach $31.15 billion by 2022 with a CAGR of 10.94.

Very few technologies like Directional Drilling have transformed Oil and Gas. Using Directional Drilling (DD) oil can be sucked economically from far beneath the ocean floor and out of depleted and formerly abandoned wells. This technology also increases area that can be covered by a single rig tremendously thereby saving lot of capital.  

Increasing demand for energy and petro chemicals, growing E&P activities in deep waters and obscure locations along with the added advantage of covering vast areas by a single rig employing directional drilling are driving the Global Oil & Gas Directional Drilling Market. On other hand, an eccentric crude oil market and environmental concerns are restraining the market growth.

Like in other Oil & Gas related sectors North America is leading global EPC market with USA being the dominant player in this region because of increase in exploration and production activities in Gulf of Mexico and for Shale gas. Driven by exploration and production activities in India and China, Asia Pacific has one of the highest growth rates and has second highest market share. Europe, Oil rich Middle East and Africa follow Asia Pacific in terms of market share respectively. When segmented by deployment location and service, offshore sector and rotary steerable systems have highest market share respectively.

This report extensively analyzes the Directional Drilling market by segmenting it based on geography, location of deployment (onshore and offshore) and services. Key drivers and restraints that are effecting the growth of this market were discussed in detail. The study also elucidates on competitive landscape and key market players.  
 

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