The Global Directional Drilling Market Growth 2019-2024Report added by DecisionDatabases.com gives an in depth industry analysis of the market. It covers the costing, sales, revenue details and forecasts.
Directional drilling is the practice of deviating the wellbore along a planned path to a specific location (also known as target location). The target location is predetermined and is at a given lateral distance and direction from the vertical. Directional drilling is carried out as vertically as possible from a given true vertical depth (TVD).
The increase in the number of deepwater and ultra-deepwater drilling projects will be one of the major factors that will have a positive impact on the growth of the market. The rise in the number of drilling projects, the need for directional drilling services is certain to increase due to a variety of applications provided by it for drilling or production project. For instance, In January 2017, BP (British Petroleum) started a major project, Thunder Horse South Expansion, in the Gulf of Mexico almost a year before its scheduled time. Such projects will increase production of crude oil production.
The market has the presence of a considerable number of manufacturers and appears to be highly competitive. The manufacturers in the market are investing in research and development to increase the drilling performance. The level of competition among the players will intensify in the coming years due to the increase in technological innovations, product extensions, and the increase in M&A.
In terms of geographic regions, the Americas will be the major revenue contributor to the market among recent years. The increase in energy demand in the US, Mexico, and Canada makes North America the second largest consumer of crude oil across the globe. The support from the government of various countries towards exploration and drilling activities will drive the demand for directional drilling in this region.
According to this study, over the next five years the Directional Drilling market will register a 11.0% CAGR in terms of revenue, the global market size will reach US$ 280 million by 2024, from US$ 150 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Directional Drilling business, shared in Chapter 3.
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Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
· Baker Hughes
· Cathedral Energy Services
· Directional Technologies
· Jindal Drilling and Industries
· LEAM Drilling Systems
· MOTIVE DRILLING TECHNOLOGIES
· Nabors Industries
· National Oilwell Varco
· SCIENTIFIC DRILLING INTERNATIONAL
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· To study and analyze the global Directional Drilling consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
· To understand the structure of Directional Drilling market by identifying its various subsegments.
· Focuses on the key global Directional Drilling manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
· To analyze the Directional Drilling with respect to individual growth trends, future prospects, and their contribution to the total market.
· To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
· To project the consumption of Directional Drilling submarkets, with respect to key regions (along with their respective key countries).
· To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
· To strategically profile the key players and comprehensively analyze their growth strategies.
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