New Visiongain report: Oilfield Air Drilling Market 2020 – 2030
07 November 2019
Oilfield Air Drilling Market Report 2020-2030: Forecasts by Types (Dust, Mist, Foam, Aerated, Nitrogen Membrane), Application (Interior & Exterior, Electrical System, Suspension System), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and analysis of leading companies operating in this industry.
Air drilling is a technique where high volumes of low-pressure air are used to drill oil and gas wells rather than traditional drilling fluids such as water-based mud or oil-based mud, particularly in areas with low or no water flows inside the well box. This market analysis of oilfield air drilling includes revenues from the membrane of dirt, aerated liquids, water, mist, and nitrogen. Our research also looks at APAC, Australia, and North America, South America, and MEA production for oilfield air drilling. The dust segment had a significant market share in 2018 and it is predicted that this trend will continue over the forecast period.
Factors such as high drilling penetration speed, which helps extend the life of the drill bit by allowing better cooling of the drill bit with compressed air during drilling, would play a significant role in maintaining its market position in the dust segment. In addition, our global oilfield air drilling market report also looks at factors such as rising air drilling advantages over traditional drilling, growing active rig count, and increasing upstream investment. Nonetheless, challenges associated with the air drilling technique, the adoption of alternative energy sources, oil and gas price fluctuations may hinder the growth of the oilfield air drilling industry over the forecast period.
Oil and gas E&P operations are growing globally with the recovery of crude oil prices. Despite higher prices of crude oil, oil and gas companies are investing in E&P ventures for oil and gas. The growing operation of exploration would result in increased demand for oil and gas drilling rigs. This will boost drilling activity demand. The rising effective rig count will thus fuel the growth of the global oilfield air drilling industry, recording in the forecast period at a CAGR of nearly 6 percent.
In the oil and gas industry, due to manual handling of rig equipment, most of the injuries and fatal accidents happen on the rig floor. Due to the level of hazards involved in oil and gas E&P activities, automation is given greater importance in the oil and gas industry. The sole purpose of Rig automation is to improve the safety of workers and the efficiency of oil and gas drilling operations. Automation in rigs shifts a worker's contact with the machinery on the rig board. It is predicted that this innovation will have a positive impact on overall market growth.
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