Sidetracking Market Research Report - Global Forecast till 2027

Sidetracking Market Information Report By Application (Onshore and Offshore), Industry (Oil natural gas, others) and By Region – Forecast till 2027

ID: MRFR/E&P/8611-HCR | February 2021 | Region: Global | 111 pages

Sidetracking Market Scenario


Sidetracking market size is projected to reach USD 651.6 Million by 2026, with 6.30% CAGR between 2020 and 2027.


Sidetracking is an advanced technique of drilling in which a new lateral is drilled from an existing well that has poor productivity due to mechanical damage at a particular well site. Wells generally require sidetracking to re-drill the well to a new target.


The major factors driving the growth of the global sidetracking market are the growing demand for product optimization of mature oil & gas fields and the automation of directional drilling. However, declining oil spending due to low crude oil prices is a restraining factor for the growth of the global sidetracking market.


Key Players


The key players operating in the global sidetracking market are Baker Hughes Co. (US), Equinor ASA (Norway), Eurasia Drilling (Russia), Halliburton (US), Nabors Industries (US), National Oilwell Varco (US), Odfjell Drilling (Norway), Schlumberger (US), Weatherford International plc (US), Yantai Jereh Oilfield Services Group Co. Ltd. (China).


Many major players such as Baker Hughes (US), Halliburton (US), Schlumberger Ltd. (US), National Oilwell Varco (US), Block Energy (UK), and others, among others are actively participating in sidetracking development projects. For instance, in January 2019, Block energy (UK) signed a strategic partnership agreement with Guardian Glass (US) to offer products related to sidetracking to the sales network of Guardian Glass Company. Such developments in the market are expected to drive the growth of the global sidetracking market during the forecast period.


The global sidetracking market has been segmented based on application and industry. Based on the application, the global market is divided into onshore and offshore. The onshore segment is expected to hold the larger share of the market and grow at the fastest rate during the forecast period, owing to improvement in the movement of hydrocarbons into the good bore and an increase in oil & gas production from onshore activities. Based on industry, the market is segmented into oil & gas, natural gas, and others. The oil industry segment held the largest market share in 2019.


Global Sidetracking Market is expected to grow at 6.01% CAGR during the forecast period.


Market Segmentation
Sidetracking Market


The global sidetracking industry is expected to witness high growth during the forecast period owing to the increasing investments in new oil & gas discoveries. This is expected to drive the demand for the sidetracking market during the forecast period.


Based on the region, the global sidetracking market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. North America holds the largest sidetracking market share due to advancements in technology and increased oil & gas production. Moreover, the sidetracking market in Asia-Pacific is expected to grow at the fastest rate during the forecast period, primarily due to the increasing demand for oil and natural gas products.


Intended Audience



  • Government and research organization

  • Consulting companies in the sidetracking market

  • Raw material suppliers

  • Research consultants

  • Investors and shareholders



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 651.6 Million (2027)
  CAGR   6.30% (2020-2027)
  Base Year   2019
  Forecast Period   2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Baker Hughes Co. (US), Equinor ASA (Norway), Eurasia Drilling (Russia), Halliburton (US), Nabors Industries (US), National Oilwell Varco (US), Odfjell Drilling (Norway), Schlumberger (US), Weatherford International plc (US), Yantai Jereh Oilfield Services Group Co. Ltd. (China)
  Key Market Opportunities   Automation of drilling activities and product optimization of mature oil and gas fields
  Key Market Drivers   Increasing Demand for oil and natural gas products


Frequently Asked Questions (FAQ) :


The global sidetracking market is predicted to grow at a 6.01% CAGR between 2021 - 2027.

The global sidetracking market is predicted to reach USD 651.6 million by 2027.

North America will lead the global wind sidetracking market.

Automation of drilling activities and product optimization of mature oil and gas fields are the key factors driving the global sidetracking market growth.

Key contenders profiled in the global sidetracking market include Baker Hughes Co. (US), Equinor ASA (Norway), Eurasia Drilling (Russia), Halliburton (US), Nabors Industries (US), National Oilwell Varco (US), Odfjell Drilling (Norway), Schlumberger (US), Weatherford International plc (US), Yantai Jereh Oilfield Services Group Co. Ltd. (China).