About Rotary Steerable Systems
A rotary steerable system (RSS) is a drilling technique used in the directional drilling process. It employs specialized downhole equipment to replace conventional directional instruments like mud motors. They are generally programmed by the drilling engineer (MWD) or directional driller who transmits controls using surface equipment (typically using either mud column pressure fluctuations or drill string rotation variations) to which the tool responds and steers gradually in the desired direction.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.3% |
Rotary Steerable Systems is a fragmented market due to the presence of several players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Rotary Steerable Systems market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BHGE (United States), Halliburton (United States), Schlumberger (United States), National Oilwell Varco (United States), COSL (China), Weatherford International (United States), APS Technology (United States), Nabors Industries (United States), Gyrodata Incorporated (United States) and Helmerich & Payne (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Target Energy LLC (United States), Leam Drilling Systems LLC (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Rotary Steerable Systems market by Type (Push to type (Power Drive Orbit), Directional (Power Drive Xceed) and Hybrid (Power Drive Archer)), Application (Pad Drilling, Platform Drilling, Factory Drilling, Oil & Gas Drilling and Others) and Region.
On the basis of geography, the market of Rotary Steerable Systems 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).
Influencing Trend:
Increasing integration with advanced technologies such as machine learning and data analytics for real-time decision-making during drilling. and Growing emphasis on automation in drilling processes, with rotary steerable systems playing a crucial role in autonomous drilling.
Market Growth Drivers:
Rising investments in the offshore drilling sector as well as the growing demand for energy., Growing popularity of rotary steerable systems in the oil and gas industry. and Increasing demand for advanced steering systems in agricultural equipment.
Challenges:
Fluctuations in oil prices and economic conditions can impact the investment decisions of oil and gas companies, affecting the demand for rotary steerable systems.
Restraints:
Environmental Issues Related to the Hydraulic Fracturing Process.
Opportunities:
The increasing exploration of unconventional reservoirs, such as shale formations, presents for the adoption of rotary steerable systems.
Market Leaders and their expansionary development strategies
In September 2023, Intrepid Directional Drilling Specialists acquired double Barrel Rotary Steerable Systems. The acquisition marks a significant stride in pursuing Intrepid's vision of becoming a vertically integrated Directional Drilling Services provider. Through the deployment of technologically advanced solutions that tangibly enhance clients' operational efficacy, Intrepid further highlights its dedication to transforming the industry.
In November 2021, Halliburton released iCruise X Intelligent Rotary Steerable System, the next generation of the drilling platform targeted for longer, harsher applications to deliver precise good placement and reduced well time.
Key Target Audience
Rotary Steerable Systems Providers, Regulatory Authorities, 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.