The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033.
The Directional Drilling Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Directional Drilling Services Global Market Report 2024, The directional drilling services market size has grown strongly in recent years. It will grow from $14.69 billion in 2023 to $15.91 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to oil and gas exploration boom, offshore exploration and production, complex reservoir geology, cost-efficiency and time savings, horizontal drilling adoption, environmental and regulatory considerations, deepwater exploration challenges.The directional drilling services market size is expected to see strong growth in the next few years. It will grow to $21.52 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
The growing demand for the distribution of natural gas is expected to drive the growth of the directional drilling services market. Natural gas, primarily composed of methane (CH4) with trace amounts of other hydrocarbons, is a fossil fuel. Directional drilling services play a crucial role in the distribution of natural gas by enabling access to remote and complex reservoirs where natural gas is found.For instance, in September 2023, as reported by the Ministry of Petroleum and Natural Gas, Government of India, there was an 8.2% year-on-year growth for petroleum products. This growth signifies an increased demand for natural gas distribution. As a result, the directional drilling services market is experiencing growth driven by the rising need for efficient distribution of natural gas.
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Top Major Players
Baker Hughes Incorporated,
Cathedral Energy Services Limited,
Crescent Directional Drilling LP,
Halliburton Company,
Jindal Drilling and Industries Limited
The directional drilling services market covered in this report is segmented –
1) By Services: Logging-while-Drilling (LWD), Rotary Steerable System (RSS), Measurement While Drilling (MWD) and Survey, Drag Analysis, Well Bore Positioning, Other Services
2) By Well Type: Horizontal, Multilateral, Extended Reach
3) By Application: Onshore, Offshore
The directional drilling services market report table of contents includes:
1. Executive Summary
- Directional Drilling Services Market Characteristics
- Directional Drilling Services Market Trends And Strategies
- Directional Drilling Services Market – Macro Economic Scenario
- Global Directional Drilling Services Market Size and Growth
- Directional Drilling Services Market Segmentation
- Directional Drilling Services Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Directional Drilling Services Market
- Directional Drilling Services Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Directional Drilling Services Market, Segmentation By Wall Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Baker Hughes Incorporated Financial Performance
Table 75: Cathedral Energy Services Limited Financial Performance
Table 76: Crescent Directional Drilling LP Financial Performance
Table 77: Halliburton Company Financial Performance
Table 78: Jindal Drilling and Industries Limited Financial Performance
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