Market Overview:
The global directional drilling market is expected to grow from USD 9.02 Billion in 2018 to USD 15.06 Billion by 2030, at a CAGR of 6.0% from 2018 to 2030. In terms of revenue, inclination directional well is the highest contributor in the global market for directional drilling and is projected to grow at a CAGR of 6.1% during the forecast period. The inclination directional well revenues are the highest in the global market for directional drilling, accounting for nearly 70 percent of the marker.
Product Definition:
Directional drilling is a method of drilling wells that deviate from the vertical. It is used to maximize production and extend the life of a well by steering the drill bit to areas where oil or gas are more likely to be found. Directional drilling is important because it allows operators to extract resources from difficult-to-reach places, increasing overall production and revenue.
Inclination Directional Well:
Inclination directional well is a type of directional drilling used to obtain hydrocarbons such as oil and gas in inclined or vertical wells. It is also known as an angle well or angle-drilling operation. In this type of operation, the bore path follows a selected inclination through the reservoir rock until it reaches hydrocarbon-bearing strata. At that point, production can be continued using conventional techniques (such as conventional horizontal drilling).
Horizontal Well:
Horizontal well is a type of directional drilling rig used to drill and reach sub-surface hydrocarbon bearing formations. Horizontal wells can be drilled in any latitude or longitude, but the most common drilling locations are latitudes 40 degrees (northeast), 50 degrees (east), 60 degrees (southeast), 70 degrees (southwest) and 80 degrees (west). These rigs are equipped with multiple boreholes which can be connected using tubing for extraction of oil & gas.
Application Insights:
Onshore was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. The growth of this application can be attributed to increasing demand for oil & gas from emerging economies such as China, India, and Brazil. In addition, factors such as growing E&P activities by companies operating in the upstream oil & gas sector are also anticipated to drive segment growth over the forecast period.
The offshore market is expected to grow at a significant rate during the forecast period owing to increased investments by various companies operating in sectors like energy & mining and maritime transport globally. For instance, according to Wood Mackenzie Ltd., operators have invested approximately USD 4 trillion globally since 2014-15 towards expanding their offshore operations which include deepwater exploration activities for discovering new resources along with developing existing ones that are located far from shoreline., Furthermore, technological advancements coupled with advanced services provided by service providers are further anticipated fuel industry expansion over next eight years or so.
Regional Analysis:
North America dominated the global market for directional drilling in 2017. The region is expected to witness moderate growth over the forecast period owing to a decline in new well approvals and drilling activities from 2018 to 2019. However, increasing oilfield development activities are anticipated to drive regional market growth over the forecast period.
The Middle East & Africa is estimated to be one of the fastest-growing regions with CAGR of XX% from 2018 to 2030 owing high oil production levels coupled with large unexplored reserves across several countries such as Saudi Arabia, UAE, and Kuwait among others.
Asia Pacific is projecteded grow at a significant rate during the forecast period due primarily onshore developments across China.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising investment in oil and gas exploration and production
- Technological advancements in directional drilling equipment and techniques
- Growing number of mature fields that need maintenance drilling
- Increased use of directional drilling in unconventional reservoirs
Scope Of The Report
Report Attributes
Report Details
Report Title
Directional Drilling Market Research Report
By Type
Inclination Directional Well, Horizontal Well, Inclination directional well revenues are the highest in the global market for directional drilling, accounting for nearly 70 percent of the marker., Directional Drillin
By Application
Onshore, Offshore, In terms of the global market for directional drilling by application, the onshore market share is the highest at 83.31%, and the offshore market share is 16.69%.
By Companies
Schlumberger, Halliburton, Baker Hughes/GE, CNPC, Weatherford International, Nabors industries, Sinopec Oilfield Service Corporation, China Oilfield Services, Cathedral Energy Services, Gyrodata, Anton Oilfield Services Group, ZPEC, Jindal Drilling & Industries, Scientific Drilling International, LEAM Drilling Services, Directional Drillin
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
245
Number of Tables & Figures
172
Customization Available
Yes, the report can be customized as per your need.
Global Directional Drilling Market Report Segments:
The global Directional Drilling market is segmented on the basis of:
Types
Inclination Directional Well, Horizontal Well, Inclination directional well revenues are the highest in the global market for directional drilling, accounting for nearly 70 percent of the marker., Directional Drillin
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Onshore, Offshore, In terms of the global market for directional drilling by application, the onshore market share is the highest at 83.31%, and the offshore market share is 16.69%.
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Schlumberger
- Halliburton
- Baker Hughes/GE
- CNPC
- Weatherford International
- Nabors industries
- Sinopec Oilfield Service Corporation
- China Oilfield Services
- Cathedral Energy Services
- Gyrodata
- Anton Oilfield Services Group
- ZPEC
- Jindal Drilling & Industries
- Scientific Drilling International
- LEAM Drilling Services
- Directional Drillin
Highlights of The Directional Drilling Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Inclination Directional Well
- Horizontal Well
- Inclination directional well revenues are the highest in the global market for directional drilling, accounting for nearly 70 percent of the marker.
- Directional Drillin
- By Application:
- Onshore
- Offshore
- In terms of the global market for directional drilling by application, the onshore market share is the highest at 83.31%, and the offshore market share is 16.69%.
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Directional Drilling Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Directional drilling is a method of drilling a hole in the ground by moving the drill bit in a specific direction.
Some of the key players operating in the directional drilling market are Schlumberger, Halliburton, Baker Hughes/GE, CNPC, Weatherford International, Nabors industries, Sinopec Oilfield Service Corporation, China Oilfield Services, Cathedral Energy Services, Gyrodata, Anton Oilfield Services Group, ZPEC, Jindal Drilling & Industries, Scientific Drilling International, LEAM Drilling Services, Directional Drillin.
The directional drilling market is expected to register a CAGR of 6%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Directional Drilling Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Directional Drilling Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Directional Drilling Market - Supply Chain
4.5. Global Directional Drilling Market Forecast
4.5.1. Directional Drilling Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Directional Drilling Market Size (000 Units) and Y-o-Y Growth
4.5.3. Directional Drilling Market Absolute $ Opportunity
5. Global Directional Drilling Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Directional Drilling Market Size and Volume Forecast by Type
5.3.1. Inclination Directional Well
5.3.2. Horizontal Well
5.3.3. Inclination directional well revenues are the highest in the global market for directional drilling, accounting for nearly 70 percent of the marker.
5.3.4. Directional Drillin
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Directional Drilling Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Directional Drilling Market Size and Volume Forecast by Application
6.3.1. Onshore
6.3.2. Offshore
6.3.3. In terms of the global market for directional drilling by application, the onshore market share is the highest at 83.31%, and the offshore market share is 16.69%.
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Directional Drilling Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Directional Drilling Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Directional Drilling Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Directional Drilling Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Directional Drilling Demand Share Forecast, 2019-2026
9. North America Directional Drilling Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Directional Drilling Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Directional Drilling Market Size and Volume Forecast by Application
9.4.1. Onshore
9.4.2. Offshore
9.4.3. In terms of the global market for directional drilling by application, the onshore market share is the highest at 83.31%, and the offshore market share is 16.69%.
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Directional Drilling Market Size and Volume Forecast by Type
9.7.1. Inclination Directional Well
9.7.2. Horizontal Well
9.7.3. Inclination directional well revenues are the highest in the global market for directional drilling, accounting for nearly 70 percent of the marker.
9.7.4. Directional Drillin
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Directional Drilling Demand Share Forecast, 2019-2026
10. Latin America Directional Drilling Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Directional Drilling Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Directional Drilling Market Size and Volume Forecast by Application
10.4.1. Onshore
10.4.2. Offshore
10.4.3. In terms of the global market for directional drilling by application, the onshore market share is the highest at 83.31%, and the offshore market share is 16.69%.
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Directional Drilling Market Size and Volume Forecast by Type
10.7.1. Inclination Directional Well
10.7.2. Horizontal Well
10.7.3. Inclination directional well revenues are the highest in the global market for directional drilling, accounting for nearly 70 percent of the marker.
10.7.4. Directional Drillin
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Directional Drilling Demand Share Forecast, 2019-2026
11. Europe Directional Drilling Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Directional Drilling Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Directional Drilling Market Size and Volume Forecast by Application
11.4.1. Onshore
11.4.2. Offshore
11.4.3. In terms of the global market for directional drilling by application, the onshore market share is the highest at 83.31%, and the offshore market share is 16.69%.
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Directional Drilling Market Size and Volume Forecast by Type
11.7.1. Inclination Directional Well
11.7.2. Horizontal Well
11.7.3.Inclination directional well revenues are the highest in the global market for directional drilling, accounting for nearly 70 percent of the marker.
11.7.4. Directional Drillin
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Directional Drilling Demand Share, 2019-2026
12. Asia Pacific Directional Drilling Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Directional Drilling Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Directional Drilling Market Size and Volume Forecast by Application
12.4.1. Onshore
12.4.2. Offshore
12.4.3. In terms of the global market for directional drilling by application, the onshore market share is the highest at 83.31%, and the offshore market share is 16.69%.
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Directional Drilling Market Size and Volume Forecast by Type
12.7.1. Inclination Directional Well
12.7.2. Horizontal Well
12.7.3. Inclination directional well revenues are the highest in the global market for directional drilling, accounting for nearly 70 percent of the marker.
12.7.4. Directional Drillin
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Directional Drilling Demand Share, 2019-2026
13. Middle East & Africa Directional Drilling Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Directional Drilling Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Directional Drilling Market Size and Volume Forecast by Application
13.4.1. Onshore
13.4.2. Offshore
13.4.3. In terms of the global market for directional drilling by application, the onshore market share is the highest at 83.31%, and the offshore market share is 16.69%.
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Directional Drilling Market Size and Volume Forecast by Type
13.7.1. Inclination Directional Well
13.7.2. Horizontal Well
13.7.3. Inclination directional well revenues are the highest in the global market for directional drilling, accounting for nearly 70 percent of the marker.
13.7.4. Directional Drillin
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Directional Drilling Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Directional Drilling Market: Market Share Analysis
14.2. Directional Drilling Distributors and Customers
14.3. Directional Drilling Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Schlumberger
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Halliburton
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Baker Hughes/GE
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. CNPC
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Weatherford International
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Nabors industries
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Sinopec Oilfield Service Corporation
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. China Oilfield Services
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Cathedral Energy Services
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Gyrodata
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Anton Oilfield Services Group
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. ZPEC
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Jindal Drilling & Industries
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Scientific Drilling International
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. LEAM Drilling Services
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Directional Drillin
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
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