08 January 2020
The Horizontal Directional Drilling Market Report : Forecasts by Technique (Conventional, Rotary Steerable System), by Parts (Rigs, Pipes, Bits, Reamers), By Application (Oil & gas excavation, Utility, Telecommunication, Others), by Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), and analysis of leading companies operating in this industry.
In 2019, the global market volume for horizontal directional drilling was estimated at over USD 8 billion. Expanding at a CAGR of 14 percent from 2020 to 2030 is planned. Growing emphasis on minimizing environmental damage and minimizing public-induced inconvenience while conducting infrastructure projects is projected to boost demand for HDD services.
As a consequence of the booming telecommunications and oil & gas markets, the international horizontal directional drilling industry has gained traction. In line with growing urbanization, the soaring need for infrastructure development and utility facilities is escalating the growth of the global market worldwide.
One of the most specialized methods of installing underground conduits with minimal damage to the surrounding ecosystem is horizontal directional drilling. However, the fact that HDD approaches also provide greater accuracy relative to vertical maneuvering methods is also capable of boosting market growth over the forecast period.
Horizontal directional drilling strategies need fewer drilling of boreholes compared to conventional maneuvering approaches. In other words, HDD machines can install multiple pipes through a single location of the surface, which means that the surface area to be drilled will be reduced.
In fact, the development of maneuvering sensors combined with developments in surveying methods, computer technology, and global positioning systems (GPS) allows them to take care of any obstructions previously encountered while drilling, rendering it more practical for HDD procedure. Horizontal directional drilling strategies, though, often result in higher operating costs relative to other trenchless techniques.
With the highest revenue share of over 35.0 percent, North America dominated the global market in 2019. Due to the increasing number of projects in the region involving oil & gas, utility construction and infrastructure development, it is prepared to lead the global market over the forecast period.
As vendors based in China offer these machines at comparatively lower prices, the market for HDD machines is likely to experience robust growth in Asia Pacific over the coming years. The region is expected to show significant growth in HDD services over the same period as telecommunications service providers are increasingly opting for these services to expand their networks.
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