Market Overview:
The global directional drilling service market is expected to grow from USD 9.5 billion in 2018 to USD 15.8 billion by 2030, at a CAGR of 6.0% from 2018 to 2030. The growth of the global directional drilling service market can be attributed to the increasing demand for oil and gas across the globe and rising investments in oil and gas exploration and production activities. The conventional system segment is expected to hold the largest share of the global directional drilling service market during the forecast period, owing to its low installation cost as compared with other systems available in the market. However,the rotary steerable system segment is projectedto grow at a higher CAGR duringthe forecast period, owingto its ability torecover stuck pipeand reduce nonproductive time (NPT).
Product Definition:
Directional drilling service is a technique used to drill wells in a specific direction. It is important for directional drilling service because it allows operators to target resources more accurately and extract them more efficiently.
Conventional System:
Conventional system is a mechanical device used to guide the direction of drilling. It's major application includes oil & gas well drilling and mining applications. The conventional system has gained its market share due to its cost effectiveness, reliability and high performance in directional drilling service industry.
The global directional drilling service market was valued at USD 21,15 billion in 2015.
Rotary Steerable System:
Rotary steerable system is a type of well control technology that uses the earth’s natural rotation to provide accurate directional drilling. The R/T System (Rotary Target) uses an electromagnetic tracking device, which follows the path of least resistance and is used to guide the drill string towards desired direction.
Application Insights:
Onshore was the dominant application segment in 2016 and is expected to continue its dominance over the forecast period. Conventional DD services are used onshore where high-pressure water jets can be deployed for drilling operations. Onshore conventional DD services are deployed for oil & gas exploration activities, whereas offshore conventional DD services are mainly used for deepwater Drilling & Production (D&P) operations.
The rotary steerable system type of directional drilling service is anticipated to register a CAGR of XX% from 2017 to 2030 owing to its ability to drill at various angles and help in reducing operational costs by minimizing downtime. The system also has advanced features such as auto-steering, which helps in keeping the vehicle aligned with the desired direction while operating at high speeds along with other systems such as hydraulic power steering that reduces human efforts during long hours of operation at sea level conditions or higher altitudes where atmospheric pressure decreases due to increased altitude above sea level.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to retain its dominance over the forecast period as well. This can be attributed to increasing onshore and offshore drilling activities in U.S., Canada, and Mexico for conventional and RSDD systems respectively.
Asia Pacific is estimated to witness substantial growth from 2018 to 2030 owing herringbone pattern of resource exploration across various countries such as India, China, Vietnam, Philippines etc.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising investment in exploration and production activities by oil and gas companies
- Technological advancements in directional drilling services that improve efficiency and reduce costs
- Growing number of shale plays across the world that offer opportunities for directional drilling
- Expansion of pipeline infrastructure to transport oil and gas from new production areas to consumers
Scope Of The Report
Report Attributes
Report Details
Report Title
Directional Drilling Service Market Research Report
By Type
Conventional System, Rotary Steerable System
By Application
Onshore, Offshore
By Companies
GE Oil and Gas, Halliburton, Scientific Drilling International, DP Jindal Group, GE(Baker Hughes), National Oilwell Varco, Nabors Industries, Schlumberger Limited, Cathedral Energy Services, Weatherford International, Leam Drilling Systems, Jindal Drilling and Industries Limited, Gyrodata Incorporated, GB Directional Drilling Services, Quanta 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
165
Number of Tables & Figures
116
Customization Available
Yes, the report can be customized as per your need.
Global Directional Drilling Service Market Report Segments:
The global Directional Drilling Service market is segmented on the basis of:
Types
Conventional System, Rotary Steerable System
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:
- GE Oil and Gas
- Halliburton
- Scientific Drilling International
- DP Jindal Group
- GE(Baker Hughes)
- National Oilwell Varco
- Nabors Industries
- Schlumberger Limited
- Cathedral Energy Services
- Weatherford International
- Leam Drilling Systems
- Jindal Drilling and Industries Limited
- Gyrodata Incorporated
- GB Directional Drilling Services
- Quanta Services
Highlights of The Directional Drilling Service 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:
- Conventional System
- Rotary Steerable System
- 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 Service 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 service is a type of drilling that uses specialized equipment to drill holes in the earth at specific angles. This allows for more efficient use of resources and reduces the amount of time and energy needed to complete a project.
Some of the major companies in the directional drilling service market are GE Oil and Gas, Halliburton, Scientific Drilling International, DP Jindal Group, GE(Baker Hughes), National Oilwell Varco, Nabors Industries, Schlumberger Limited, Cathedral Energy Services, Weatherford International, Leam Drilling Systems, Jindal Drilling and Industries Limited, Gyrodata Incorporated, GB Directional Drilling Services, Quanta Services.
The directional drilling service market is expected to register a CAGR of 6%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Directional Drilling Service Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Directional Drilling Service Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Directional Drilling Service Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Directional Drilling Service Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Directional Drilling Service Market Size & Forecast, 2018-2028
4.5.1 Directional Drilling Service Market Size and Y-o-Y Growth
4.5.2 Directional Drilling Service Market Absolute $ Opportunity
Chapter 5 Global Directional Drilling Service Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Directional Drilling Service Market Size Forecast by Type
5.2.1 Conventional System
5.2.2 Rotary Steerable System
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Directional Drilling Service Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Directional Drilling Service Market Size Forecast by Applications
6.2.1 Onshore
6.2.2 Offshore
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Directional Drilling Service Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Directional Drilling Service Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Directional Drilling Service Analysis and Forecast
9.1 Introduction
9.2 North America Directional Drilling Service Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Directional Drilling Service Market Size Forecast by Type
9.6.1 Conventional System
9.6.2 Rotary Steerable System
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Directional Drilling Service Market Size Forecast by Applications
9.10.1 Onshore
9.10.2 Offshore
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Directional Drilling Service Analysis and Forecast
10.1 Introduction
10.2 Europe Directional Drilling Service Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Directional Drilling Service Market Size Forecast by Type
10.6.1 Conventional System
10.6.2 Rotary Steerable System
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Directional Drilling Service Market Size Forecast by Applications
10.10.1 Onshore
10.10.2 Offshore
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Directional Drilling Service Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Directional Drilling Service Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Directional Drilling Service Market Size Forecast by Type
11.6.1 Conventional System
11.6.2 Rotary Steerable System
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Directional Drilling Service Market Size Forecast by Applications
11.10.1 Onshore
11.10.2 Offshore
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Directional Drilling Service Analysis and Forecast
12.1 Introduction
12.2 Latin America Directional Drilling Service Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Directional Drilling Service Market Size Forecast by Type
12.6.1 Conventional System
12.6.2 Rotary Steerable System
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Directional Drilling Service Market Size Forecast by Applications
12.10.1 Onshore
12.10.2 Offshore
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Directional Drilling Service Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Directional Drilling Service Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Directional Drilling Service Market Size Forecast by Type
13.6.1 Conventional System
13.6.2 Rotary Steerable System
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Directional Drilling Service Market Size Forecast by Applications
13.10.1 Onshore
13.10.2 Offshore
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Directional Drilling Service Market: Competitive Dashboard
14.2 Global Directional Drilling Service Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE Oil and Gas
14.3.2 Halliburton
14.3.3 Scientific Drilling International
14.3.4 DP Jindal Group
14.3.5 GE(Baker Hughes)
14.3.6 National Oilwell Varco
14.3.7 Nabors Industries
14.3.8 Schlumberger Limited
14.3.9 Cathedral Energy Services
14.3.10 Weatherford International
14.3.11 Leam Drilling Systems
14.3.12 Jindal Drilling and Industries Limited
14.3.13 Gyrodata Incorporated
14.3.14 GB Directional Drilling Services
14.3.15 Quanta Services
