Lewes, DE -- (SBWire) -- 10/21/2015 --Report forecast the global directional drilling market to grow at a CAGR of 10.42% in terms of over the period 2014-2019.
Directional drilling is a practice of controlling the deviation and direction of a wellbore in order to access the predetermined target zone.
The major application of directional drilling are mentioned below:
- Horizontal well drilling
- Multilateral well drilling
- Extended reach drilling
The global directional drilling market is expected to witness steady growth in the forecast period spurred by increasing energy demand, advances in technologies such as MWD and LWD, data analytics and digital oilfield, and sizable investments in countries such as Brazil, Indonesia, China, Mexico, US, and Angola.
The Americas dominates the directional drilling market, followed by APAC and EMEA. In terms of services, the largest market share is held by the rotary steerable segment, which is expected to grow at a significant rate in the forecast period.
The report includes the present scenario and the growth prospects of global directional drilling market for 2015-2019. The market can be segmented into five divisions: services and equipment, type of directional well, type of directional drilling, application, and geography.
Global Directional Drilling Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, EMEA, and Americas; it also covers the landscape of the global directional drilling market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
According to the report the increased consumption and demand for oil and gas from various end-user segments is driving the global directional drilling market. Vendors and governments of various countries are therefore investing in directional drilling to enhance the global oil and gas production and maintain the demand-supply balance in the market. The diminishing oil production from existing reserves will further drive the market in terms of increased applications and drilling of multilateral and extended reach wells.
Key geographies
- Americas
- APAC
- EMEA
Key players in the Global Directional Drilling Market: Baker Hughes, Gyrodata, Halliburton, Schlumberger and Superior Drilling Products
Other Prominent Vendors in the market are: Cathedral Energy Services, Calmena Energy Services, General Electric Oil & Gas, Leam Drilling Systems, the Directional Drilling Company, Michels Corporation, and Nabors Industries.
Key market driver
- Increasing global oil and gas consumption
- For a full, detailed list, view our report
Key market challenge
- Low oil prices
- For a full, detailed list, view our report
Key market trend
- Advances in digital oilfield technology
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 99 pages "Directional Drilling Market 2015-2019" report covers Executive Summary, Scope of the Report, Market Research Methodology, Introduction, Market landscape, Market segmentation by services and equipment, Market segmentation by type of directional well, Market segmentation by type of directional well, Market segmentation by type of directional drilling, Market segmentation by application, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
For further information on this report, please visit- http://www.marketresearchreports.com/technavio/directional-drilling-market-2015-2019
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