Market Overview:
The global directional drilling solutions and services 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. The growth of the market can be attributed to the increasing demand for oil & gas across the globe and rising investments in directional drilling projects. Based on type, the MWD services segment is expected to lead the global directional drilling solutions and services market during the forecast period.
Product Definition:
Directional drilling solutions & services is the process of drilling a wellbore at an angle from the vertical. This is done in order to reach a target located further down the wellbore or to steer around subsurface features, such as underground salt domes or oil and gas reservoirs. Directional drilling can also be used to drill horizontal wells, which extend out from a single vertical shaft over a long distance.
MWD Services:
MWD services are used in the oil & gas industry for directional drilling solutions and provide efficient wellbore construction. It is a combination of advanced technologies, which helps to control the wellbore stability, optimize extraction rates from reservoir per stroke while maintaining safety requirements. MWD services have gained significant importance owing to increasing E&P activities in unconventional resources such as shale gas & tight oil and coal bed methane across different regions including North America, Asia Pacific and Europe.
LWD Services:
LWD (Long-Wear Directional) services are used in the oil & gas industry for directional drilling solutions. It is a type of service that involves providing personnel, equipment, and technology to enable oil & gas producers to drill long-distance horizontal wells with minimal environmental impact.
Application Insights:
Onshore application led the market and accounted for more than 65.0% share of the global revenue in 2017. The growth can be attributed to increasing onshore activities across various regions, including North America, Middle East & Africa, Europe and Asia Pacific. In addition, favorable government regulations regarding onshore oil exploration are expected to drive the demand over the forecast period.
The offshore segment is anticipated to witness significant growth over the forecast period owing to rising demand from emerging economies such as China India Australia (CINA) region which has been witnessing rapid development in recent years due to its huge offshore reserves particularly in deepwater areas with high costs involved.
Regional Analysis:
North America dominated the market in 2017 owing to the presence of a large number of oil and gas E&P companies. The region is expected to maintain its dominance over the forecast period, with an increase in both onshore and offshore drilling activities. Increasing shale gas exploration activities are also likely to contribute toward regional growth.
The Middle East & Africa (MEA) is anticipated to be one of the fastest-growing regions over the forecast period owing to increasing government spending on upstream projects coupled with growing energy demand from across several countries including Saudi Arabia, UAE, Egypt, and Nigeria among others. In addition, rising geopolitical tensions between various countries such as Iran and Saudi Arabia are expected favorably impact regional growth during future phases as governments focus more on developing domestic production capacities for oilfield services equipment & technologies needed for enhanced oil recovery (EOR).
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 solutions & services
- Growing demand for unconventional resources such as shale gas & tight oil
- Expansion of the global drilling fleet
Scope Of The Report
Report Attributes
Report Details
Report Title
Directional Drilling Solutions & Services Market Research Report
By Type
MWD Services, LWD Services, Rotary Steerable System (RSS) Services, Repair & Maintenance Services, Consulting & Other Services
By Application
Onshore, Offshore
By Companies
Schlumberger, Key Strategies, Halliburton, Downhole Drilling Services, Segofs Energy Services, General Electric, KAMBI Enterprises, Tolteq Group, APS Technology, Shanghai Oilfield Equipment, Beijing Geoshine Oilfield Technology Services, Compass Directional Guidance, Scientific Drilling International, CBG Corp, China Oilfield Services Limited (COSL), Weatherford, Bench Tree, Newsco International Energy Services
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
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Directional Drilling Solutions & Services Market Report Segments:
The global Directional Drilling Solutions & Services market is segmented on the basis of:
Types
MWD Services, LWD Services, Rotary Steerable System (RSS) Services, Repair & Maintenance Services, Consulting & Other Services
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
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
- Key Strategies
- Halliburton
- Downhole Drilling Services
- Segofs Energy Services
- General Electric
- KAMBI Enterprises
- Tolteq Group
- APS Technology
- Shanghai Oilfield Equipment
- Beijing Geoshine Oilfield Technology Services
- Compass Directional Guidance
- Scientific Drilling International
- CBG Corp
- China Oilfield Services Limited (COSL)
- Weatherford
- Bench Tree
- Newsco International Energy Services
Highlights of The Directional Drilling Solutions & Services 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:
- MWD Services
- LWD Services
- Rotary Steerable System (RSS) Services
- Repair & Maintenance Services
- Consulting & Other Services
- By Application:
- Onshore
- Offshore
- 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 Solutions & Services 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 solutions and services are a set of technologies used to drill down into the earth's surface. This is done by using a drill bit that can be rotated in any direction, allowing the operator to reach any target area.
Some of the major players in the directional drilling solutions & services market are Schlumberger, Key Strategies, Halliburton, Downhole Drilling Services, Segofs Energy Services, General Electric, KAMBI Enterprises, Tolteq Group, APS Technology, Shanghai Oilfield Equipment, Beijing Geoshine Oilfield Technology Services, Compass Directional Guidance, Scientific Drilling International, CBG Corp, China Oilfield Services Limited (COSL), Weatherford, Bench Tree, Newsco International Energy Services.
The directional drilling solutions & services market is expected to register a CAGR of 6%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Directional Drilling Solutions & Services 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 Solutions & Services 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 Solutions & Services Market - Supply Chain
4.5. Global Directional Drilling Solutions & Services Market Forecast
4.5.1. Directional Drilling Solutions & Services Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Directional Drilling Solutions & Services Market Size (000 Units) and Y-o-Y Growth
4.5.3. Directional Drilling Solutions & Services Market Absolute $ Opportunity
5. Global Directional Drilling Solutions & Services 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 Solutions & Services Market Size and Volume Forecast by Type
5.3.1. MWD Services
5.3.2. LWD Services
5.3.3. Rotary Steerable System (RSS) Services
5.3.4. Repair & Maintenance Services
5.3.5. Consulting & Other Services
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Directional Drilling Solutions & Services 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 Solutions & Services Market Size and Volume Forecast by Application
6.3.1. Onshore
6.3.2. Offshore
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Directional Drilling Solutions & Services 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 Solutions & Services 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 Solutions & Services 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 Solutions & Services 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 Solutions & Services Demand Share Forecast, 2019-2026
9. North America Directional Drilling Solutions & Services 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 Solutions & Services 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 Solutions & Services Market Size and Volume Forecast by Application
9.4.1. Onshore
9.4.2. Offshore
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Directional Drilling Solutions & Services Market Size and Volume Forecast by Type
9.7.1. MWD Services
9.7.2. LWD Services
9.7.3. Rotary Steerable System (RSS) Services
9.7.4. Repair & Maintenance Services
9.7.5. Consulting & Other Services
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 Solutions & Services Demand Share Forecast, 2019-2026
10. Latin America Directional Drilling Solutions & Services 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 Solutions & Services 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 Solutions & Services Market Size and Volume Forecast by Application
10.4.1. Onshore
10.4.2. Offshore
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Directional Drilling Solutions & Services Market Size and Volume Forecast by Type
10.7.1. MWD Services
10.7.2. LWD Services
10.7.3. Rotary Steerable System (RSS) Services
10.7.4. Repair & Maintenance Services
10.7.5. Consulting & Other Services
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 Solutions & Services Demand Share Forecast, 2019-2026
11. Europe Directional Drilling Solutions & Services 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 Solutions & Services 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 Solutions & Services Market Size and Volume Forecast by Application
11.4.1. Onshore
11.4.2. Offshore
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Directional Drilling Solutions & Services Market Size and Volume Forecast by Type
11.7.1. MWD Services
11.7.2. LWD Services
11.7.3. Rotary Steerable System (RSS) Services
11.7.4. Repair & Maintenance Services
11.7.5. Consulting & Other Services
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 Solutions & Services Demand Share, 2019-2026
12. Asia Pacific Directional Drilling Solutions & Services 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 Solutions & Services 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 Solutions & Services Market Size and Volume Forecast by Application
12.4.1. Onshore
12.4.2. Offshore
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Directional Drilling Solutions & Services Market Size and Volume Forecast by Type
12.7.1. MWD Services
12.7.2. LWD Services
12.7.3. Rotary Steerable System (RSS) Services
12.7.4. Repair & Maintenance Services
12.7.5. Consulting & Other Services
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 Solutions & Services Demand Share, 2019-2026
13. Middle East & Africa Directional Drilling Solutions & Services 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 Solutions & Services 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 Solutions & Services Market Size and Volume Forecast by Application
13.4.1. Onshore
13.4.2. Offshore
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 Solutions & Services Market Size and Volume Forecast by Type
13.7.1. MWD Services
13.7.2. LWD Services
13.7.3. Rotary Steerable System (RSS) Services
13.7.4. Repair & Maintenance Services
13.7.5. Consulting & Other Services
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 Solutions & Services Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Directional Drilling Solutions & Services Market: Market Share Analysis
14.2. Directional Drilling Solutions & Services Distributors and Customers
14.3. Directional Drilling Solutions & Services 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. Key Strategies
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Halliburton
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Downhole Drilling Services
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Segofs Energy Services
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. General Electric
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. KAMBI Enterprises
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Tolteq Group
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. APS Technology
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Shanghai Oilfield Equipment
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Beijing Geoshine Oilfield Technology Services
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Compass Directional Guidance
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Scientific Drilling International
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. CBG Corp
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. China Oilfield Services Limited (COSL)
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Weatherford
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Bench Tree
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Newsco International Energy Services
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
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
