Market Overview:
The global drilling services market is expected to grow from USD XX billion in 2018 to USD XX billion by 2030, at a CAGR of X.X%. The growth of the market can be attributed to the increasing demand for oil and gas across the globe. Additionally, the increase in exploration and production activities is also fueling the growth of the global drilling services market. The global drilling services market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into contract drilling, directional drilling, logging while drilling (LWD), and drilling waste management.
Product Definition:
Drilling Services refers to the process of creating a hole in an object or surface, typically using a drill bit. The purpose of drilling services may vary, but common uses include creating holes for screws or nails, cutting through material for wiring or plumbing installation, and removing debris from a surface. Drilling services are often an important part of many construction and renovation projects.
Contract Drilling:
Contract drilling is a service where the rig owner/operator and an oil company or gas company agree that the oil & gas producer will provide equipment and men to carry out exploration activities on land owned by the former. The contract also covers all expenses including transportation of goods,Men & Equipment (ME)and services cost.
The global contract drilling market size was valued at USD 2,867 million in 2016.
Directional Drilling:
Directional drilling is a method of drilling in which the drill string is turned by means of a rotary table. The rotation of the drill string causes the bit to move in an forward and backward direction through the rock. As compared to vertical or horizontal drilling, directional drilling requires less energy as it does not have to go through all four quadrants (90 degrees) of a 360-degree turn.
Application Insights:
Onshore application accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The growth of onshore segment can be attributed to increasing demand for oil & gas from existing reserves as well as from new discoveries. Onshore drilling involves less risk as compared to offshore drilling, which helps in reducing overall cost of operations.
The growing importance of LNG and LPG extraction is expected to drive the global onshore oil & gas industry, thereby augmenting demand for driller services over the forecast period. In addition, favorable government regulations regarding increased domestic production are also likely to have a positive impact on industry growth over the next eight years.
Offshore application is estimated to register a CAGR exceeding 8% during the same period owingto increasing investments by companies such as BP plc, Statoil ASA and Repsol SAB in deepwater exploration activities across various regions including Africa, South America.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has witnessed a surge in offshore drilling activities owing to government initiatives for exploration of oil & gas and development of offshore reserves. Furthermore, increasing demand for LNG from various countries such as China, India, Japan, South Korea and Indonesia is anticipated to drive the regional market further.
The Middle East & Africa accounted for a significant share in terms of revenue generation owing to rising oil production across major economies including Saudi Arabia and Iran. In addition, growing investments by international companies are anticipated to boost drilling services industry growth over the forecast period.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising investment in drilling services by oil and gas companies to increase production capacity
- Technological advancements in drilling equipment that improve efficiency and reduce costs
- Growing exploration activities in unconventional hydrocarbon reserves such as shale gas and tight oil
- Expansion of drilling services into new markets such as Latin America, Africa, and Asia
Scope Of The Report
Report Attributes
Report Details
Report Title
Drilling Services Market Research Report
By Type
Contract Drilling, Directional Drilling, Logging While Drilling (LWD), Drilling Waste Management
By Application
Onshore, Offshore
By Companies
GE(Baker Hughes), Weatherford International Plc., Schlumberger Limited, Superior Energy Services Inc., Transocean Limited, Halliburton Co.
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
176
Number of Tables & Figures
124
Customization Available
Yes, the report can be customized as per your need.
Global Drilling Services Market Report Segments:
The global Drilling Services market is segmented on the basis of:
Types
Contract Drilling, Directional Drilling, Logging While Drilling (LWD), Drilling Waste Management
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(Baker Hughes)
- Weatherford International Plc.
- Schlumberger Limited
- Superior Energy Services Inc.
- Transocean Limited
- Halliburton Co.
Highlights of The Drilling 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:
- Contract Drilling
- Directional Drilling
- Logging While Drilling (LWD)
- Drilling Waste Management
- 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 Drilling 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Product & Brand Management
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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?
Drilling services are a type of contract drilling that is used to create holes in the ground. Contract drilling is a service that is provided by companies who have the equipment and expertise to drill holes quickly and efficiently. This type of service can be used for many purposes, including construction, mining, oil and gas extraction, and more.
Some of the major companies in the drilling services market are GE(Baker Hughes), Weatherford International Plc., Schlumberger Limited, Superior Energy Services Inc., Transocean Limited, Halliburton Co..
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Drilling Services 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 Drilling Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Drilling Services 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 Drilling Services 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 Drilling Services Market Size & Forecast, 2018-2028
4.5.1 Drilling Services Market Size and Y-o-Y Growth
4.5.2 Drilling Services Market Absolute $ Opportunity
Chapter 5 Global Drilling Services 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 Drilling Services Market Size Forecast by Type
5.2.1 Contract Drilling
5.2.2 Directional Drilling
5.2.3 Logging While Drilling (LWD)
5.2.4 Drilling Waste Management
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Drilling Services 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 Drilling Services Market Size Forecast by Applications
6.2.1 Onshore
6.2.2 Offshore
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Drilling Services 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 Drilling Services 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 Drilling Services Analysis and Forecast
9.1 Introduction
9.2 North America Drilling Services 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 Drilling Services Market Size Forecast by Type
9.6.1 Contract Drilling
9.6.2 Directional Drilling
9.6.3 Logging While Drilling (LWD)
9.6.4 Drilling Waste Management
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 Drilling Services 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 Drilling Services Analysis and Forecast
10.1 Introduction
10.2 Europe Drilling Services 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 Drilling Services Market Size Forecast by Type
10.6.1 Contract Drilling
10.6.2 Directional Drilling
10.6.3 Logging While Drilling (LWD)
10.6.4 Drilling Waste Management
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 Drilling Services 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 Drilling Services Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Drilling Services 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 Drilling Services Market Size Forecast by Type
11.6.1 Contract Drilling
11.6.2 Directional Drilling
11.6.3 Logging While Drilling (LWD)
11.6.4 Drilling Waste Management
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 Drilling Services 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 Drilling Services Analysis and Forecast
12.1 Introduction
12.2 Latin America Drilling Services 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 Drilling Services Market Size Forecast by Type
12.6.1 Contract Drilling
12.6.2 Directional Drilling
12.6.3 Logging While Drilling (LWD)
12.6.4 Drilling Waste Management
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 Drilling Services 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) Drilling Services Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Drilling Services 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) Drilling Services Market Size Forecast by Type
13.6.1 Contract Drilling
13.6.2 Directional Drilling
13.6.3 Logging While Drilling (LWD)
13.6.4 Drilling Waste Management
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) Drilling Services 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 Drilling Services Market: Competitive Dashboard
14.2 Global Drilling Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE(Baker Hughes)
14.3.2 Weatherford International Plc.
14.3.3 Schlumberger Limited
14.3.4 Superior Energy Services Inc.
14.3.5 Transocean Limited
14.3.6 Halliburton Co.
