Market Overview:
The global horizontal well drilling market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for oil and gas across the globe. Additionally, the growing popularity of shale gas exploration is also contributing to the growth of this market. The global horizontal well drilling market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into long radius horizontal wells, medium radius horizontal wells, short radius horizontal wells, and other types such as directional and multilateral wells.
Product Definition:
Horizontal well drilling is the process of drilling a well that runs horizontally instead of vertically. This type of well can be used to extract oil or gas from shale formations, which is why it's become an important technology in the recent boom in fracking.
Long Radius Horizontal Well:
Long radius horizontal well is a type of drilling rig used to drill and complete wells with long lateral sections. The long section allows the well to be drilled at greater depth and with more complicated lateral angles than a conventional horizontal well. Longer laterals require longer sections of pipe, which increases the overall cost of drilling as it requires more expensive equipment such as high-pressure pumps, motors & pipes for circulation etc.
Medium Radius Horizontal Well:
The global medium radius horizontal well and it’s usage in Horizontal Well Drilling market size was valued at USD 8.5 billion in 2016. The growing demand for efficient drilling tools that can be used to drill multiple wells of different sizes is expected to drive the industry growth over the forecast period.
Horizontal drilling has become a common practice among oil & gas producers as it allows them to access reserves trapped deep underground, which are not accessible through vertical drilling alone.
Application Insights:
Onshore application dominated the global horizontal well drilling market in 2017, accounting for over 84% of the total revenue. The segment is expected to retain its dominance throughout the forecast period owing to increasing demand for cost-effective solutions and technological innovation that improves efficiency across onshore fields.
The offshore segment is projected to exhibit a lucrative CAGR of XX% from 2018 to 2030 due largely to growing investments by oil & gas companies in deepwater exploration activities off Africa, South America and West Asia which are mainly conducted through purpose-built platforms with state-of-the art equipment such as ultra-deep wells and floating platforms.
Regional Analysis:
Asia Pacific dominated the global horizontal well drilling market in 2016 and is expected to continue its dominance over the forecast period. The region has a large number of unexplored reserves that are likely to be drilled, which will drive industry growth. China is estimated to lead the Asia Pacific regional market over the next eight years owing to increasing investments in unconventional energy resources such as shale gas and tight oil.
North America accounted for a significant share of revenue in 2016 owing to technological advancements associated with advanced exploration techniques such as 3D seismic surveys, hydraulic fracturing, and drilling from both surface and underground sources. Moreover Horizontal Well Drilling (HWD) technology was first developed by Halliburton subsidiary Brown & Root Services LLC for use in North America thus making it one of their major markets globally.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising prices of crude oil in the international market
- Technological advancements in horizontal drilling equipment and methods
- Proliferation of shale gas reserves in North America and other regions
- Growing demand for unconventional hydrocarbons
Scope Of The Report
Report Attributes
Report Details
Report Title
Horizontal Well Drilling Market Research Report
By Type
Long Radius Horizontal Well, Medium Radius Horizontal Well, Short Radius Horizontal Well, Horizontal Well Drillin
By Application
Onshore, Offshore
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, Horizontal Well 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
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Horizontal Well Drilling Market Report Segments:
The global Horizontal Well Drilling market is segmented on the basis of:
Types
Long Radius Horizontal Well, Medium Radius Horizontal Well, Short Radius Horizontal Well, Horizontal Well 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
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
- Horizontal Well Drillin
Highlights of The Horizontal Well 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:
- Long Radius Horizontal Well
- Medium Radius Horizontal Well
- Short Radius Horizontal Well
- Horizontal Well Drillin
- 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 Horizontal Well 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Horizontal well drilling is a method of extracting oil and gas from underground formations by using a drill bit that travels horizontally.
Some of the key players operating in the horizontal well 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, Horizontal Well Drillin.
The horizontal well drilling market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Horizontal Well 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. Horizontal Well Drilling Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Horizontal Well Drilling Market - Supply Chain
4.5. Global Horizontal Well Drilling Market Forecast
4.5.1. Horizontal Well Drilling Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Horizontal Well Drilling Market Size (000 Units) and Y-o-Y Growth
4.5.3. Horizontal Well Drilling Market Absolute $ Opportunity
5. Global Horizontal Well 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. Horizontal Well Drilling Market Size and Volume Forecast by Type
5.3.1. Long Radius Horizontal Well
5.3.2. Medium Radius Horizontal Well
5.3.3. Short Radius Horizontal Well
5.3.4. Horizontal Well Drillin
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Horizontal Well 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. Horizontal Well Drilling 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 Horizontal Well 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. Horizontal Well 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 Horizontal Well 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. Horizontal Well 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 Horizontal Well Drilling Demand Share Forecast, 2019-2026
9. North America Horizontal Well 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 Horizontal Well 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 Horizontal Well Drilling 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 Horizontal Well Drilling Market Size and Volume Forecast by Type
9.7.1. Long Radius Horizontal Well
9.7.2. Medium Radius Horizontal Well
9.7.3. Short Radius Horizontal Well
9.7.4. Horizontal Well 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 Horizontal Well Drilling Demand Share Forecast, 2019-2026
10. Latin America Horizontal Well 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 Horizontal Well 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 Horizontal Well Drilling 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 Horizontal Well Drilling Market Size and Volume Forecast by Type
10.7.1. Long Radius Horizontal Well
10.7.2. Medium Radius Horizontal Well
10.7.3. Short Radius Horizontal Well
10.7.4. Horizontal Well 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 Horizontal Well Drilling Demand Share Forecast, 2019-2026
11. Europe Horizontal Well 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 Horizontal Well 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 Horizontal Well Drilling 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 Horizontal Well Drilling Market Size and Volume Forecast by Type
11.7.1. Long Radius Horizontal Well
11.7.2. Medium Radius Horizontal Well
11.7.3. Short Radius Horizontal Well
11.7.4. Horizontal Well Drillin
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y rowth 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 Horizontal Well Drilling Demand Share, 2019-2026
12. Asia Pacific Horizontal Well 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 Horizontal Well 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 Horizontal Well Drilling 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 Horizontal Well Drilling Market Size and Volume Forecast by Type
12.7.1. Long Radius Horizontal Well
12.7.2. Medium Radius Horizontal Well
12.7.3. Short Radius Horizontal Well
12.7.4. Horizontal Well 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 Horizontal Well Drilling Demand Share, 2019-2026
13. Middle East & Africa Horizontal Well 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 Horizontal Well 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 Horizontal Well Drilling 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 Horizontal Well Drilling Market Size and Volume Forecast by Type
13.7.1. Long Radius Horizontal Well
13.7.2. Medium Radius Horizontal Well
13.7.3. Short Radius Horizontal Well
13.7.4. Horizontal Well 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 Horizontal Well Drilling Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Horizontal Well Drilling Market: Market Share Analysis
14.2. Horizontal Well Drilling Distributors and Customers
14.3. Horizontal Well 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. Horizontal Well 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
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