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
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)
