About Directional Drilling Service
Directional drilling is the practice of controlling the direction and deviation of a wellbore to a predetermined underground target or location. It is used to install conduits under obstacles such as roads, buildings, and wetlands to explore oil reservoirs. Directional drilling increases the efficiency of oil & gas extraction at low cost and less environmental disruption. However, emerging advanced technologies help precisely reach the reservoir’s most productive zone.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Directional Drilling Service market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Baker Hughes (United States), EXALO Drilling (Poland), GE Oil & Gas (United Kingdom), Schlumberger Limited (United States), Jindal Drilling & Industries (India), Halliburton Company (United States), Weatherford International (United States), NOV Inc. (United States), Gyrodata (united States), Kataria Construction (India) and Phoenix Technology Services (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are China Oilfield Services Limited (China) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Directional Drilling Service market by Type (Horizontal Drilling, Multilateral Drilling and Extend Reach Drilling (ERD)), Application (Onshore and Offshore) and Region.
On the basis of geography, the market of Directional Drilling Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Service, the sub-segment i.e. Logging While Drilling (LWD) will boost the Directional Drilling Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Demand for Horizontal Directional Drilling Due to Low Impact Trenchless Construction Service
Market Growth Drivers:
Increased Demand of Crude Oil for Fuel and Energy Production Across the Globe and Need of Directional Drilling to Exploit Multiple Oil Reservoirs With the Single Well
Challenges:
Lack of Experienced and Skilled Employees is the Big Challenge for the Directional Drilling Companies
Restraints:
Stringent Regulations of Government towards the Oil & Gas Drilling
Opportunities:
Increased Offshore Drilling in Developing Economies like India
Market Leaders and their expansionary development strategies
In July 2021, Cathedral Energy Services Ltd. announced the acquisition of the directional drilling business of Precision Drilling Corporation. The acquisition will create opportunities for Cathedral as well as potential integrated service offerings for customers.
In June 2020, Intrepid acquired the directional drilling business of Gyrodata to double its capabilities in North America and expand its presence in Latin America. Gyrodata is a unique directional drilling provider both in terms of scale and capabilities.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Directional Drilling Service Providers, Directional Drilling Technology and Equipment Manufacturers, Suppliers & Distributors of Directional Drilling Technology and Equipment, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.