February 28, 2022 04:54 ET | Source: ReportLinker ReportLinker

New York, Feb. 28, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Directional Drilling Market, By Type, By Component, By Service, By Technology, By Application, By Offshore Application, By Field Development Type, By Region, Competition Forecast and Opportunities, 2027" - https://www.reportlinker.com/p06150625/?utm_source=GNW The surge in investments in offshore exploration activities and the growing focus on the extraction of shale gas reserves by leading authorities to fulfill the ever-increasing energy requirements of consumers is impacting the market demand positively.The presence of abundant unconventional oil & gas reserves and the need to efficiently procure energy from these reserves by using advanced extraction technologies such as directional drilling techniques are expected to bolster the global directional drilling market demand. Also, the increasing usage of automation technology in directional drilling to optimize the oil & gas extraction process and obtain real-time updates to improve accuracy is expected to drive the market demand through the next five years. However, high operating costs of directional drilling process may restrain the growth of the global directional drilling market in the forecast period. The global directional drilling market is segmented into type, component, service, technology, application, field development type, region, and company. On the basis of regional analysis, North America dominated the market in 2021, accounting for the largest market share of 30.45%, and is expected to maintain its dominance throughout the forecast period. Early adoption of modern technology by the oil & gas industry and the ongoing technological advancements in drilling such as multi-stage hydraulic fracturing are expected to create lucrative opportunities for market growth. In the United States and Canada, the demand for shale gas and tight oil is growing at an impressive rate, and they are being considered the vital energy reserves for the region’s growth. Halliburton Co., Schlumberger Limited, Scientific Drilling International, Leam Drilling Systems, Inc., NOV Inc., Baker Hughes Holdings LLC, Weatherford International plc, Jindal Drilling & Industries Limited, Cathedral Energy Services Ltd, Nabors Industries Ltd., Gyrodata Incorporated are the major market players operating in the global directional drilling market. Years considered for this report: Historical Years: 2017-2020 Base Year: 2021 Estimated Year: 2022E Forecast Period: 2023F-2027F Objective of the Study: • To analyze the historical growth in the market size of the global directional drilling market from 2017 to 2021. • To estimate and forecast the market size of global directional drilling market from 2022E to 2027F and growth rate until 2027F. • To classify and forecast the global directional drilling market based on type, component, service, technology, application, field development type, region, and company. • To identify the dominant region or segment in the global directional drilling market. • To identify drivers and challenges for the global directional drilling market. • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global directional drilling market. • To identify and analyze the profiles of leading players operating in the global directional drilling market. • To identify key sustainable strategies adopted by market players in the global directional drilling market. The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of companies across the globe. Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors. Through this technique, the analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst examined the service providers, distribution channels and presence of all major players across the globe. The analyst calculated the market size of the global directional drilling market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst. Key Target Audience: • Directional drilling service providers • Market research and consulting firms • Government bodies such as regulating authorities and policy makers • Organizations, forums, and alliances related to directional drilling The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities. Report Scope: In this report, global directional drilling market has been segmented into following categories, in addition to the industry trends which have also been detailed below: • Global Directional Drilling Market, By Type: o Rotary Steerable System o Conventional System • Global Directional Drilling Market, By Component: o Rig Rental o OCTG Rental o Drilling Tool Rental o Consumables o Others • Global Directional Drilling Market, By Service: o Drilling o Measurement-While-Drilling & Survey o Logging-While-Drilling • Global Directional Drilling, By Technology: o Side Tracking o Wellbore Positioning o Well Planning o Others • Global Directional Drilling, By Application o Onshore o Offshore o By Offshore Application (Shallow, Deep, Ultra-deep) • Global Directional Drilling, By Field Development Type: o Brownfield o Greenfield • Global Directional Drilling, By Region: o North America United States Canada Mexico o Asia-Pacific China India Indonesia Malaysia Australia Thailand o Europe Russia Norway United Kingdom Denmark Netherlands o Middle East & Africa Saudi Arabia UAE Kuwait Nigeria o South America Brazil Colombia Argentina Competitive Landscape Company Profiles: Detailed analysis of the major companies present in global directional drilling market. Available Customizations: With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report: Company Information • Detailed analysis and profiling of additional market players (up to five). Read the full report: https://www.reportlinker.com/p06150625/?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. __________________________