The Global Horizontal Directional Drilling Market size is expected to reach $11. 6 billion by 2027, rising at a market growth of 5. 8% CAGR during the forecast period. Horizontal drilling is significantly easier and less harmful to the environment than traditional vertical alignment.

New York, March 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Horizontal Directional Drilling Market By Component, By Machine Type, By Machines Parts, By Rig Type, By Rigs Sales Type, By Application, By End-use, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06241000/?utm_source=GNW It may be used to construct cables, canals, short-distance pipelines, and long-distance works even at great depths. The development of advance mobile communication technologies, like 4G and 5G, has raised the demand for system transfer specialists. Consequently, horizontal directional drilling sets are being used more often to lay new transmission lines. Furthermore, the increased need for effective distribution of natural gas and electricity from upper and intermediate pipelinesis likely to fuel the growth of the horizontal drilling machine services market. Significant volumes of oil and gas may be retrieved from ponds to depths of 10,000 feet using HDD rigs and other equipment while having a minimal impact on the environment. Furthermore, because HDD settings take up less space, they are suitable for projects that are positioned in densely populated locations and must be completed in a brief span of time. The primary reasons driving the growth of the horizontal directional drilling market are increased urbanisation and a faster pace of industrialisation. Urbanization would raise consumer demand, which would lead to an expansion in the manufacturing industry, driving up energy consumption. According to the Central Intelligence Agency, by year 2040, the urban population will be nearly double that of the rural population. Furthermore, horizontal directional drilling gives greater precision than vertical moving methods. This aspect is expected to boost the market over the projected period as well. COVID-19 Impact Analysis The COVID-19 pandemic caused a brief halt to horizontal directional drilling activity at multiple locations across a variety of sectors due to rigorous government lockdown measures designed to halt the disease’s spread. The oilfield industry experienced significant operational challenges as businesses temporarily ceased upstream and downstream operations, resulting in a sharp drop in oil and gas output. Furthermore, oil prices fell as a result of a considerable reduction in the frequency of transportation worldwide, after a price war between the United States, Saudi Arabia, and Russia. As a result, incumbents in horizontal directional operations and the machine sector experienced a drop in demand. Continuous initiatives taken by global governments to minimize the consequences of the pandemic on oil and gas exploration businesses, on the other hand, are projected to allow for a rebound in the horizontal directional drilling industry in the near future. Market Growth Factors: Growing energy demand With the United Nations estimating a rise in global population from 6.7 billion in the year 2011 to 8.7 billion by the year 2035, demand for energy would rise significantly over the time. Population expansion, as well as rising living standards in many emerging nations, will drive up energy consumption significantly. Over 70% of the growing energy demand comes from developing countries, primarily China and India. According to United Nations Organization (UNO) forecasts, urbanization will continue to rise, from 52 percent in 2011 to 62 percent in 2035, and reach 70 percent globally by 2050. Expansion of the telecommunication industry The telecommunications sector’s extensive deployment of fiber optic cables in offshore and onshore locations to deliver 4G and 5G networking services is increasing the development possibilities of these systems. Drilling for the surveying, design, and construction of underground cables for telecommunication electrical systems is a novel technology that has been created for the underground installation of pipes. Market Restraining Factors: Stringent regulatory policies The government’s laws governing the development of oil and gas fields are quite stringent. On May 22, 2013, for example, the European Union (EU) Parliament enacted a new regulation on the safety of oil and gas activities. Before beginning any drilling activities in EU seas, oil and gas firms must file a detailed study on potential dangers, according to the legislation. They must also give internal emergency response plans that outline all available equipment and resources, as well as what measures would be taken in the event of an accident. Machine Type Outlook Based on the Machine Type, the Horizontal Directional Drilling Market is bifurcated into Conventional and Rotary Steerable Systems. In 2020, the Conventional segment garnered the significant revenue share in the HDD Market. Traditional horizontal directional drilling, on the other hand, is still favoured by SMEs because to its lower operational costs as compared to RSS. The traditional machine type consists of immobile and skid-mounted rigs which require additional measures to maintain their place. Machine Parts Outlook By Machines Parts, the Horizontal Directional Drilling Market is segmented into Rigs (Type – Mini, Midi, & Maxi and Sales - New sales & Aftermarket), Pipes, Bits, Reamers, and Others. Over the projection period, the pipes category accounted for significant revenue share of the market. Players in the industry are progressively funding in the development of drilling pipes capable of withstanding high subterranean pressure. Because of their great impermeability, High-Density Polyethylene (HDPE) pipes are preferred over steel or concrete pipelines. Rig Type Outlook Based on rig type, the market is segmented into midi, mini, and maxi. Maxi rigs procured the promising revenue share of the overall market in 2020. Maxi rigs are used for directional drilling with a length of 6,000 feet and a torque of approximately 20,000 pounds. When installing big diameter pipes over longer distances, the torque needed rises. Furthermore, greater pullback force is required for horizontal boring activities in challenging ground conditions such as sand, tar, and shale rock. Rigs Sales Type Outlook Based on the rig sales type, the market is fragmented into New Sales and Aftermarket. The aftermarket segment garnered the substantial revenue share of the market in 2020. Horizontal drilling rigs that have previously been employed have emerged as the most popular investments for end-users having limited finances. Newly minted operators with a certain set of criteria prefer purchasing rigs of prior models with almost identical functionalities as compared to the current improved version, which are frequently available at a lesser price. Application Outlook On the basis of Application, the Horizontal Directional Drilling Market is divided into Onshore and Offshore. In 2020, the onshore segment procured the largest revenue share of the market. Due to reduced infrastructure and maintenance costs, onshore projects are far less costly as offshore horizontal directional drilling projects. Crude oil price fluctuations have a significant impact on onshore horizontal directional boring projects. End Use Outlook By End-use, the Horizontal Directional Drilling Market is segregated into Oil & Gas Extraction, Utility, Telecommunication and Others. The Oil & Gas Extraction segmented is leading the market by generating the largest revenue share in 2020. According to Baker Hughes, the average oil and gas rig count, worldwide was 1,325 until June 2021. The well-established infrastructure creates a strong demand for boring rigs. Furthermore, the requirement to address the escalating costs of oil exploration and production operations on unexplored areas is predicted to contribute to the segment’s dominance. Regional Outlook Based on the Region, the Horizontal Directional Drilling Market is analysed across North America, Europe, APAC, and LAMEA. In 2020, APAC acquired the promising revenue share of the overall horizontal directional drilling market. China’s national energy infrastructure is concentrating on the development of renewable energy sources in order to achieve safe, adequate, and clean energy growth. This has resulted in a growth of large-scale infrastructure projects in the country, which has fuelled the adoption of modern drilling equipment. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nabors Industries Ltd., NOV, Inc., Herrenknecht AG, Vermeer Corporation, Xuzhou Construction Machinery Group Co., Ltd., The Toro Company, Halliburton Company, Schlumberger N.V., Weatherford International PLC, and Baker Hughes Company. Recent strategies deployed in Horizontal Directional Drilling Market Partnerships, Collaboration and Agreements: May-2021: Schlumberger collaborated with NOV, an American multinational corporation. The collaboration focuses on accelerating automated drilling solutions adopted by drilling contractors and oil and gas operators. Moreover, this collaboration allowed the customers to integrate Schlumberger downhole and surface drilling automation solutions with NOV’s rig automation platform for providing superior well construction performance. Product Launches and Product Expansions: Jan-2022: Vermeer expanded its drills lineup for infrastructure development by launching the D130S and D60S horizontal directional drills. These drills are designed for the emerging markets exclusively. D130S has been equipped with 15,000 ft-lb (20,337 Nm) of rotational torque and 130,000 lb (578,200 kN) of thrust whereas D60S has been equipped with pullback and 9,000 ft-lb (12,202.4 Nm) of rotational torque and 60,000 lb (266.9 kN) of thrust. Sep-2021: Vermeer released the R500 Reclaimer to expand its Horizontal Directional Drilling Fluid Management Equipment lineup. R500 Reclaimer is all-electric and can fulfill the increasing demands for electric-powered Jobsite solutions. Aug-2021: Schlumberger released Autonomous Directional Drilling that comprises solutions to steer autonomously by any section of the wellbore. The company focuses on advancing its digital offering by utilizing a dynamic and intelligent downhole automated control system. Mar-2020: Vermeer unveiled the D220x500 S3, a new product in its Navigator series of horizontal directional drills. This product offers up to 54,000 foot-pounds of torque at a spindle speed of 36 revolutions per minute, fluid flow rates of up to 350 gallons per minute (1324.9 L/min), and 240,400 pounds (1069.4 kN) of thrust/pullback if the onboard pump is selected. Acquisition and Mergers: Dec-2020: Vermeer completed the acquisition of Normag’s electric-powered horizontal directional drilling and fluid systems technology. With this acquisition, the former company presumed the rights of developing, manufacturing, and distributing the fully electric HDD rigs, fluid management systems, and generator sets, that are presently operating across Europe. Scope of the Study Market Segments covered in the Report: By Component • Machines and • Services By Machine Type • Rotary Steerable System and • Conventional By Machine Parts • Rigs • Pipes • Bits • Reamers and • Others By Rig Type • Midi • Mini, and • Maxi By Rigs Sales Type • New sales and • Aftermarket By Application • Onshore and • Offshore By End Use • Oil & Gas Extraction • Utility • Telecommunication and • Others By Geography • North America o US o Canada o Mexico o Rest of North America • Europe o Germany o UK o France o Russia o Spain o Italy o Rest of Europe • Asia Pacific o China o Japan o India o South Korea o Singapore o Malaysia o Rest of Asia Pacific • LAMEA o Brazil o Argentina o UAE o Saudi Arabia o South Africa o Nigeria o Rest of LAMEA Companies Profiled • Nabors Industries Ltd. • NOV, Inc. • Herrenknecht AG • Vermeer Corporation • Xuzhou Construction Machinery Group Co., Ltd. • The Toro Company • Halliburton Company • Schlumberger N.V. • Weatherford International PLC • Baker Hughes Company Unique Offerings • Exhaustive coverage • Highest number of market tables and figures • Subscription based model available • Guaranteed best price • Assured post sales research support with 10% customization free Read the full report: https://www.reportlinker.com/p06241000/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________

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