Directional Drilling Market Research Report – Forecast to 2023

Directional Drilling Market Research Report – Forecast to 2023

ID: MRFR/E&P/0866-HCRR | November, 2018 | Region: Global | 120 pages | Half-Cooked Research Reports

Global Directional Drilling Market Research Report, By Application (Onshore and Offshore), by Well type (Horizontal, Multilateral, and Extended reach), by Service (Rotary steerable systems, LWD, MWD, and Motors) and by Region - Global Forecast till 2023


Market Scenario


Directional drilling is an essential practice carried out by crude oil producers to reach the harshest wells and optimizing the production from the resource land. Typically the well is drilled vertically down in the land which is more prone to the risk of nonproduction and is economically infeasible. The directional drilling provides the solution for drilling of oil wells at multiple angles other than vertical angle and help reach better reserves of oil and gas. Despite the advancements in technology, directional drilling has been the prime area of interest for oil upstream players because of the applications involving this technique, which include drilling at more than one angles in the fields, recovering oil and gas from the untapped source. Furthermore, the process allows the drilling of multiple wells from the parent wellbore, which helps diminish the environmental impacts of drilling. With its advantages in both, onshore and offshore well drilling, directional drilling hold significance in oilfield service business.


Discoveries in oil and gas industry along with shale activities and increasing demand for energy and fuel from the growing nations complementing from increased globalization and urbanization are leading drivers of directional drilling market. In 2015, trenchless Engineering Services Pvt. Ltd. installed horizontal direction drill for a gas pipeline, which was laid to a depth of 140 meters below the surface level. However, the low price trends have restrained the projects for directional drilling and many projects had been paused, which are expected to start with recovering oil prices.


Global directional drilling market has been segmented based on application, well type, services and region. Based on the application type the market is further classified as onshore and offshore. Between these, the onshore application segment is anticipated to hold major market share due to the fact that the onshore region is witnessing more and more new exploration activities coupled with more fields getting mature. On the basis of well type the directional drilling market is segmented as horizontal well, multilateral wells and extended reach wells. Among these, horizontal wells are expected to hold a large market share due to their significance in more production rate and exposure of greater wellbore length. Based on services the market is segmented as Rotary steerable system, Logging while drilling (LWD), Measurement while drilling (MWD), and Motors. Amongst these, LWD holds the major market share because of its advantage in cost savings and acquiring the formation data.  


Oil and gas directional drilling industry is expected to have huge potential from increasing projects over the forecast period given the increased production from the end use industry coupled with growing shale revolution. The market is also expected to witness high expansion activities by multinational and major players.   


Global Oil and Gas waste heat recovery market is expected to expand at ~3.48% CAGR during the forecast period.


Market Segmentation

Directional Drilling


 


Global Directional Drilling Market


The global directional drilling market is also expected to have exponential growth by virtue of recovering global oil prices. North America and Europe regions are expected to dominate the market for directional drilling. The regions are observing a large number of oil exploration activities from Gulf of Mexico and North Sea, which will lead more drilling activities in these regions. Besides, the large number of mature oil wells from North Sea in Europe and Permian Basin and Bakken in North America are likely to demand new drilling activities thus, driving the directional drilling market. Africa and Middle East are also expected to witness significant growth over the forecast period due to the growing exploration activities coupled with increasing demand for fuel from growing nations. 


Key Players


The key players in directional drilling market are Baker Hughes Incorporated (U.S.), National Oilwell Varco (U.S.), Weatherford International Plc. (U.S.), Schlumberger Ltd (U.S.), and Halliburton Company (U.S.). Nabors Industries Ltd (Bermuda), Cathedral Energy Services Ltd (Canada), Jindal Drilling & Industries Limited (India), and Gyrodata Incorporated (U.S.) are among others.

Table of Contents

1 Executive Summary

2 Market Introduction

2.1 Definition

2.2 Scope of the Study

2.3 List of Assumptions

2.4 Market Structure

2.5 Key Takeaways

2.6 Key Buying Criteria

3 Market Insights

4 Research Methodology

4.1 Research Process

4.2 Primary Research

4.3 Secondary Research

4.4 Market Size Estimation

4.5 Forecast Model

5 Market Dynamics

5.1 Introduction

5.2 Drivers

5.2.1 Increase in Shale oil and gas development

5.2.2 Advancement in drilling technologies

5.2.3 Rising demand for oil and gas in developing countries

5.2.4 Drivers Impact Analysis

5.3 Restraints

5.3.1 Increased focus on renewable energy

5.3.2 Stringent regulatory policies

5.4 Opportunities

5.4.1 Gradual recovery of oil prices

5.5 Value Chain Analysis

5.6 Porter’s Five Forces Model

5.6.1 Threat of New Entrants

5.6.2 Bargaining Power of Suppliers

5.6.3 Bargaining Power of Buyers

5.6.4 Threat of Substitutes

5.6.5 Intensity of Rivalry

6 Global Directional Drilling Market, By Type

6.1 Overview

6.1.1 Horizontal wells

6.1.1.1 Market Estimates & Forecast, 2018-2023

6.1.1.2 Market Estimates & Forecast By Region/Country, 2018-2023

6.1.2 Multilateral wells

6.1.2.1 Market Estimates & Forecast, 2018-2023

6.1.2.2 Market Estimates & Forecast By Region/Country, 2018-2023

6.1.3 Extended reach wells

6.1.3.1 Market Estimates & Forecast, 2018-2023

6.1.3.2 Market Estimates & Forecast By Region/Country, 2018-2023

7 Global Directional Drilling Market, By Application

7.1 Overview

7.1.1 Onshore

7.1.1.1 Market Estimates & Forecast, 2018-2023

7.1.1.2 Market Estimates & Forecast By Region/Country, 2018-2023

7.1.2 Offshore

7.1.2.1 Market Estimates & Forecast, 2018-2023

7.1.2.2 Market Estimates & Forecast By Region/Country, 2018-2023

8 Global Directional Drilling Market, By Service

8.1 Overview

8.1.1 LWD

8.1.1.1 Market Estimates & Forecast, 2018-2023

8.1.1.2 Market Estimates & Forecast By Region/Country, 2018-2023

8.1.2 MWD & Survey

8.1.2.1 Market Estimates & Forecast, 2018-2023

8.1.2.2 Market Estimates & Forecast By Region/Country, 2018-2023

8.1.3 RSS

8.1.3.1 Market Estimates & Forecast, 2018-2023

8.1.3.2 Market Estimates & Forecast By Region/Country, 2018-2023

8.1.4 Motors

8.1.4.1 Market Estimates & Forecast, 2018-2023

8.1.4.2 Market Estimates & Forecast By Region/Country, 2018-2023

9 Directional Drilling Market, By Region

9.1 Overview

9.2 North America

9.2.1 Market Estimates & Forecast, By Country, 2018-2023

9.2.2 Market Estimates & Forecast By Type, 2018-2023

9.2.3 Market Estimates & Forecast By Application , 2018-2023

9.2.4 Market Estimates & Forecast By Service, 2018-2023

9.2.5 U.S.

9.2.5.1 Market Estimates & Forecast By Type, 2018-2023

9.2.5.2 Market Estimates & Forecast By Application , 2018-2023

9.2.5.3 Market Estimates & Forecast By Service, 2018-2023

9.2.7 Canada

9.2.7.1 Market Estimates & Forecast By Type, 2018-2023

9.2.7.2 Market Estimates & Forecast By Application , 2018-2023

9.2.7.3 Market Estimates & Forecast By Service, 2018-2023

9.3 Europe

9.3.1 Market Estimates & Forecast, By Country, 2018-2023

9.3.2 Market Estimates & Forecast By Type, 2018-2023

9.3.3 Market Estimates & Forecast By Application , 2018-2023

9.3.4 Market Estimates & Forecast By Service, 2018-2023

9.3.5 Norway

9.3.5.1 Market Estimates & Forecast By Type, 2018-2023

9.3.5.2 Market Estimates & Forecast By Application , 2018-2023

9.3.5.3 Market Estimates & Forecast By Service, 2018-2023

9.3.6 The Netherlands

9.3.6.1 Market Estimates & Forecast By Type, 2018-2023

9.3.6.2 Market Estimates & Forecast By Application , 2018-2023

9.3.6.3 Market Estimates & Forecast By Service, 2018-2023

9.3.7 The U.K

9.3.7.1 Market Estimates & Forecast By Type, 2018-2023

9.3.7.2 Market Estimates & Forecast By Application , 2018-2023

9.3.7.3 Market Estimates & Forecast By Service, 2018-2023

9.3.8 Russia

9.3.8.1 Market Estimates & Forecast By Type, 2018-2023

9.3.8.2 Market Estimates & Forecast By Application , 2018-2023

9.3.8.3 Market Estimates & Forecast By Service, 2018-2023

9.3.9 Rest of Europe

9.3.9.1 Market Estimates & Forecast By Type, 2018-2023

9.3.9.2 Market Estimates & Forecast By Application , 2018-2023

9.3.9.3 Market Estimates & Forecast By Service, 2018-2023

9.4 Asia Pacific

9.4.1 Market Estimates & Forecast, By Country, 2018-2023

9.4.2 Market Estimates & Forecast By Type, 2018-2023

9.4.3 Market Estimates & Forecast By Application , 2018-2023

9.4.4 Market Estimates & Forecast By Service, 2018-2023

9.4.5 China

9.4.5.1 Market Estimates & Forecast By Type, 2018-2023

9.4.5.2 Market Estimates & Forecast By Application , 2018-2023

9.4.5.3 Market Estimates & Forecast By Service, 2018-2023

9.4.6 India

9.4.6.1 Market Estimates & Forecast By Type, 2018-2023

9.4.6.2 Market Estimates & Forecast By Application , 2018-2023

9.4.6.3 Market Estimates & Forecast By Service, 2018-2023

9.4.7 Indonesia

9.4.7.1 Market Estimates & Forecast By Type, 2018-2023

9.4.7.2 Market Estimates & Forecast By Application , 2018-2023

9.4.7.3 Market Estimates & Forecast By Service, 2018-2023

9.4.8 Australia

9.4.8.1 Market Estimates & Forecast By Type, 2018-2023

9.4.8.2 Market Estimates & Forecast By Application , 2018-2023

9.4.8.3 Market Estimates & Forecast By Service, 2018-2023

9.4.7 Rest of Asia Pacific

9.4.7.1 Market Estimates & Forecast By Type, 2018-2023

9.4.7.2 Market Estimates & Forecast By Application , 2018-2023

9.4.7.3 Market Estimates & Forecast By Service, 2018-2023

9.5 Rest of the World

9.5.1 Market Estimates & Forecast, By Country, 2018-2023

9.5.2 Market Estimates & Forecast By Type, 2018-2023

9.5.3 Market Estimates & Forecast By Application , 2018-2023

9.5.4 Market Estimates & Forecast By Service, 2018-2023

9.5.5 Middle East

9.5.5.1 Market Estimates & Forecast By Type, 2018-2023

9.5.5.2 Market Estimates & Forecast By Application , 2018-2023

9.5.5.3 Market Estimates & Forecast By Service, 2018-2023

9.5.6 Africa

9.5.6.1 Market Estimates & Forecast By Type, 2018-2023

9.5.6.2 Market Estimates & Forecast By Application , 2018-2023

9.5.6.3 Market Estimates & Forecast By Service, 2018-2023

9.5.6 Latin America

9.5.6.1 Market Estimates & Forecast By Type, 2018-2023

9.5.6.2 Market Estimates & Forecast By Application , 2018-2023

9.5.6.3 Market Estimates & Forecast By Service, 2018-2023

10 Competitive Landscape

10.1 Competitive Scenario

10.1.1 Competitive Overview of the Directional Drilling Market

10.1.2 Competitive Benchmarking of the Directional Drilling Market

11 Company Profiles

11.1 Baker Hughes Incorporated

11.1.1 Company Overview

11.1.2 Financial Overview

11.1.3 Type Offerings

11.1.4 Key Developments

11.1.5 SWOT Analysis

11.1.6 Key Strategy

11.2 National Oilwell Varco, Inc.

11.2.1 Company Overview

11.2.2 Financial Overview

11.2.3 Type Offerings

11.2.4 Key Developments

11.2.5 SWOT Analysis

11.2.6 Key Strategy

11.3 Weatherford International PLC.

11.3.1 Company Overview

11.3.2 Financial Overview

11.3.3 Type Offerings

11.3.4 Key Developments

11.3.5 SWOT Analysis

11.3.6 Key Strategy

11.4 Schlumberger Limited

11.4.1 Company Overview

11.4.2 Financial Overview

11.4.3 Type Offerings

11.4.4 Key Developments

11.4.5 SWOT Analysis

11.4.6 Key Strategy

11.5 Halliburton Company

11.5.1 Company Overview

11.5.2 Financial Overview

11.5.3 Type Offerings

11.5.4 Key Developments

11.5.5 SWOT Analysis

11.5.6 Key Strategy

11.6 Nabors Industries Ltd.

11.6.1 Company Overview

11.6.2 Financial Overview

11.6.3 Type Offerings

11.6.4 Key Developments

11.6.5 SWOT Analysis

11.5.6 Key Strategy

11.7 Cathedral Energy Services Ltd.

11.7.1 Company Overview

11.7.2 Financial Overview

11.7.3 Type Offerings

11.7.4 Key Developments

11.7.5 SWOT Analysis

11.7.6 Key Strategy

11.8 Jindal Drilling & Industries Limited

11.8.1 Company Overview

11.8.2 Financial Overview

11.8.3 Type Offerings

11.8.4 Key Developments

11.8.5 SWOT Analysis

11.8.6 Key Strategy

11.9 Gyrodata Incorporated

11.9.1 Company Overview

11.9.2 Financial Overview

11.9.3 Type Offerings

11.9.4 Key Developments

11.9.5 SWOT Analysis

11.9.6 Key Strategy



List of Tables

Table 1 Global Directional Drilling Market: By Region, 2017-2023

Table 2 North America Directional Drilling Market: By Country, 2017-2023

Table 3 Europe Directional Drilling Market: By Country, 2017-2023

Table 4 Asia Pacific Directional Drilling Market: By Country, 2017-2023

Table 5 RoW Directional Drilling Market: By Country, 2017-2023

Table 6 Global Directional Drilling Market, by Application, By Regions, 2017-2023

Table 7 North America Directional Drilling Market, by Application, By Country, 2017-2023

Table 8 Europe Directional Drilling Market, by Well type type, By Country, 2017-2023

Table 9 Asia Pacific Directional Drilling Market by Application, By Country, 2017-2023

Table 10 RoW Directional Drilling Market by Application, By Country, 2017-2023

Table 11 Global Directional Drilling Market by Application Market: By Regions, 2017-2023

Table 12 North America Directional Drilling Market by Application: By Country, 2017-2023

Table 13 Europe Directional Drilling Market by Application: By Country, 2017-2023

Table 14 Asia Pacific Directional Drilling Market by Application: By Country, 2017-2023

Table 15 RoW Directional Drilling Market by Application: By Country, 2017-2023

Table 16 Global Directional Drilling Market, by Services, By Regions, 2017-2023

Table 17 North America Directional Drilling Market, by Services, By Country, 2017-2023

Table 18 Europe Directional Drilling Market, by Services, By Country, 2017-2023

Table 19 Asia Pacific Directional Drilling Market, by Services, By Country, 2017-2023

Table 20 RoW Directional Drilling Market, by Services, By Country, 2017-2023

Table 21 Global Directional Drilling Market: By Region, 2017-2023

Table 22 Global Directional Drilling Market: By Region, 2017-2023

Table 23 Global Directional Drilling Market: By Region, 2017-2023

Table 24 North America Directional Drilling Market, By Country

Table 25 North America Directional Drilling Market, by Application

Table 26 North America Directional Drilling Market, by Application

Table 27 North America Directional Drilling Market, By Services

Table 28 North America Directional Drilling Market, By End-User

Table 29 Europe: Directional Drilling Market, By Country

Table 30 Europe: Directional Drilling Market, by Application

Table 31 Europe: Directional Drilling Market, by Application

Table 32 Europe: Directional Drilling Market, By Services

Table 33 Europe: Directional Drilling Market, By End-User

Table 34 Asia-Pacific: Directional Drilling Market, By Country

Table 35 Asia-Pacific: Directional Drilling Market, by Application

Table 36 Asia-Pacific: Directional Drilling Market, by Application

Table 37 Asia-Pacific: Directional Drilling Market, By Services

Table 38 Asia-Pacific: Directional Drilling Market, By End-User

Table 39 RoW: Directional Drilling Market, By Region

Table 40 RoW Directional Drilling Market, by Application

Table 41 RoW Directional Drilling Market, by Application

Table 42 RoW Directional Drilling Market, By Services

Table 43 RoW Directional Drilling Market, By End-User









List of Figures

FIGURE 1 RESEARCH PROCESS OF MRFR

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 MARKET DYNAMICS

FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS

FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS

FIGURE 6 PORTER’S FIVE FORCES ANALYSIS

FIGURE 7 VALUE CHAIN ANALYSIS

FIGURE 8 GLOBAL DIRECTIONAL DRILLING MARKETSHARE, BY APPLICATION, 2017 (%)

FIGURE 9 GLOBAL DIRECTIONAL DRILLING MARKET, BY APPLICATION, 2018-2023 (USD MILLION)

FIGURE 10 GLOBAL DIRECTIONAL DRILLING MARKETSHARE, BY SERVICES, 2017 (%)

FIGURE 11 GLOBAL DIRECTIONAL DRILLING MARKET, BY SERVICES, 2018-2023 (USD MILLION)

FIGURE 12 GLOBAL DIRECTIONAL DRILLING MARKET SHARE (%), BY REGION, 2017

FIGURE 13 GLOBAL DIRECTIONAL DRILLING MARKET, BY REGION, 2018-2023 (USD MILLION)

FIGURE 14 NORTH AMERICA DIRECTIONAL DRILLING MARKETSHARE (%), 2017

FIGURE 15 NORTH AMERICA DIRECTIONAL DRILLING MARKETBY COUNTRY, 2018-2023 (USD MILLION)

FIGURE 16 EUROPE DIRECTIONAL DRILLING MARKETSHARE (%), 2017

FIGURE 17 EUROPE DIRECTIONAL DRILLING MARKETBY COUNTRY, 2018-2023 (USD MILLION)

FIGURE 18 ASIA PACIFIC DIRECTIONAL DRILLING MARKETSHARE (%), 2017

FIGURE 19 ASIA PACIFIC DIRECTIONAL DRILLING MARKETBY COUNTRY, 2018-2023 (USD MILLION)

FIGURE 20 REST OF THE WORLD DIRECTIONAL DRILLING MARKETSHARE (%), 2017

FIGURE 21 REST OF THE WORLD DIRECTIONAL DRILLING MARKETBY COUNTRY, 2018-2023 (USD MILLION)