“The key factor driving the market for directional drilling is the increasing worldwide oil prices”, says Visiongain

02 December 2019
Energy

The Directional Drilling Market Report 2020-2030: Forecasts by Type (Conventional, Rotary Steerable System), by Service (LWD, MWD & Survey, RSS, Motors), By Application (Onshore, Offshore), by region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), and analysis of leading companies operating in this industry.

The key factor driving the market for directional drilling is the increasing worldwide oil prices. The demand for directional drilling has been raised in order to improve the reliability and increase the productivity of the oil drilling system. The success of onshore mining sites has contributed to numerous offshore oil areas being investigated. The mining contractors of the oil and gas companies look forward to the directional drilling method in order to gain more control over the direction of the holes in the new sites.

North America is the region that dominated the market for directional drilling. The reason attributing to this market growth is that most of the onshore dams were mined in the horizontal or longitudinal fields. Already adding to market growth are the rising shale gas discoveries in developed countries such as Canada and the US. Europe and the Asia-Pacific zone are preceded by North America. The growing demand for the region's oil and gas reserves contributes to the region's market growth.

The drilling phase where the contractors attempt to change or modify the drill hole's azimuth and inclination is called directional drilling. This is accomplished by selecting wedging tools or directional drilling tools and the assembly of the bottom hole. The drilling contractors properly plan a method to control or change the direction of the drilling holes to complete the project smoothly. For drilling hole drilling method, the drilling contractors use long reaming shells, full hole barrels in the bottom hole assembly method.

Directional drilling systems have gained significant traction over the past few years to boost learning scope, drill several wells from the same vertical wellbore, and reduce the environmental impact of wells. The US is the largest market for directional drilling equipment, and the country's directional drilling and horizontal drilling rigs were around 93 percent of the onshore rigs working in 2017. Crude oil and traditional commodity natural gas were the main source to satisfy the growing global demand for energy.

Such traditional reservoirs use for extraction primarily vertical mining. Many traditional oilfields, though, are ageing at a faster rate than the replacement rate, and may not be able to meet the rising demand for energy. The global demand for crude oil is expected to grow by 1.2 mb / d over the next four years, and the top oil and gas operating companies are exerting increasing pressure to increase their production to meet the increasing demand for energy. As a result, several operating countries focused on exploiting unconventional reserves, such as shale and tight gas reserves.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

Visiongain Publishes Two-Wheeler Hub Motor Market Report to 2031

Governments from various regions are introducing initiatives to control the growth of pollution. Developed and developing countries’ governments are estimated to implement objectives, regulations, and favorable policies for electric vehicle deployment and its demand.

09 April 2021

Read

Visiongain Publishes Test Benches Market Report to 2031

Growing implementation of test benches in various industrial applications, such as semiconductor and electronics, industrial manufacturing, and automotive are primarily influencing the market’s growth in the coming years.

09 April 2021

Read

Visiongain Publishes Smart Pneumatics Market Report to 2031

The growth in demand for smart factory and Industry 4.0, the growing focus of manufacturers on reducing operational and maintenance costs, surging demand for FDM systems, and rising investments for FDM solutions by automation companies are the critical growth factors for the market in the coming years.

09 April 2021

Read

Visiongain Publishes Outdoor Power Equipment Market Report to 2031

The growing implementation of battery-powered outdoor power equipment for maintaining gardening and lawns actions, growing landscaping services demand, and rising gardening activities across residential areas are the key factors driving the market’s growth.

09 April 2021

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever