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Directional Drilling Services Market

Directional Drilling Services Market

Directional Drilling Services Market Global Industry Assessment & Forecast

# Pages:

169

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0467

Segments Covered
  • By Application Onshore Applications, Offshore Applications
  • By Service Rotary Steerable System (RSS), Logging-While-Drilling(LWD), Measurement-While-Drilling (MWD) & Survey, Motors (MUD Motors), Others
  • By Type Conventional, Rotary Steerable System
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 2.3 Billion
Revenue 2028Revenue 2028: 3.22 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 4.31
Fastest Growing Region Fastest Growing Region (2022 - 2028) North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Directional Drilling Services market was valued at USD 2.3 Billion in 2020 and is projected to reach USD 3.22 Billion by 2028, growing at a CAGR of 4.31% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2026
Annual Market Size (2028) 3.22 Billion
Annual Market Size (2021)
CAGR (2021 - 2028) 4.31%

Definition And Overview

Directional drilling is a technique used by oil-extraction companies in order to access oil in underground reserves. Most oil wells are positioned above the targeted reservoir, so accessing them involves drilling vertically from the surface through to the well below.


The global Directional Drilling Services market report provides a thorough analysis of each segment including Application,Service and Type for each region, and country. All the segments are studied considering historical and future trends across geographies. All the segments covers trends, market size, and forecasts, and the data is provided for the years 2016–2028. Moreover, the report also covers exhaustive analysis on competitive scenario of the global market covering in depth company profiles based on business overview, financial performance, product portfolio, business strategies, recent developments, and market share among others. In addition to that the report offers several market impacting factors such as drivers, restraints, and opportunities. Cumulatively, the report will cover all of the aspects regarding the global Directional Drilling Services market. 

Yearly Infographics 2.3 Billion 3.22 Billion

COVID-19 Impact Analysis

In 2020, swift spread of COVID-19 largely impacted the global business operations, disrupting the supply chain and impairing various industries. The global trading activities were declined severely owing to the nationwide lockdowns, international border seals, and strict social distancing measures. This had a drastic impact on the global economy, as the companies across the globe were forced to either fully close or partially close their operations, leading to disruption in the supply-demand ratio. Moreover, in 2021 several key markets such as U.S., India, and Brazil among others witnessed a second wave of COVID-19 that further disrupted the market. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.


The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Analysis

The report covers an exhaustive analysis of Directional Drilling Services industry that includes drivers, restraints/challenges, opportunities, and segmental/regional trends among others. Apart from that, it will also cover extensive information on various marketing tools such as PEST Analysis, Porter’s Five Forces Analysis, pricing trends,  SWOT analysis, and value chain analysis along with technological landscape and regulatory framework specific to Directional Drilling Services industry.


The demand for energy is increase in this current senario. With both the increasing population growth as well as higher standard of living for many people in developed and developing countries is generating strong growth in energy demand and supporting the growth of the marketb in the years to come. 

The increased advanced technological developments is anticipated to augment the growth of the market in the years to come. 

Largest consumers of oil & gas, China and the U.S. along with other countries, are increasing their investments in renewable energy every year to reduce their carbon footprints and dependence on fossil fuels. This is expected to hamper the growth of the market over the forecast period.

Global Directional Drilling Services Market Report Scope

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
Market Size Provided In Terms Of Revenue & Volume
Segments Covered Application, Service, Type
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered National Oilwell Varco Inc., Ge Oil & Gas, Cathedral Energy Services Ltd., Baker Hughes Incorporated, Schlumberger Limited, Leam Drilling Systems LLC., Halliburton Company, Scientific Drilling International, Nabors Industries Ltd., Weatherford International PLC., Jindal Drilling & Industries Limited, Gyrodata Incorporated.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Market Segmentation

Application  Analysis: Preview

On the basis of Application, the market is segmented into Onshore Applications, Offshore Applications. Onshore held the highest share in the global Directional Drilling Services market and is projected to witness the same trend during the forecast period.

Service Analysis: Preview

Based on Service, the market is segmented into Rotary Steerable System (RSS), Logging-While-Drilling(LWD), Measurement-While-Drilling (MWD) & Survey, Motors (MUD Motors), Others. Measurement-While-Drilling (MWD) & Survey accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.

Type Analysis: Preview

Based on Type, the market is segmented into Conventional, Rotary Steerable System. Rotary Steerable System dominates the global Directional Drilling Services market and is expected to continue the same trend from 2021 to 2028. 

Global Directional Drilling Services Market: Application Segment Analysis

    • Onshore Applications
    • Offshore Applications

Global Directional Drilling Services Market: Service Segment Analysis

    • Rotary Steerable System (RSS)
    • Logging-While-Drilling(LWD)
    • Measurement-While-Drilling (MWD) & Survey
    • Motors (MUD Motors)
    • Others

Global Directional Drilling Services Market: Type Segment Analysis

    • Conventional
    • Rotary Steerable System

Regional Analysis: Preview

Based on geography, the global Directional Drilling Services market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The regional section is further bifurcated into key country level markets for each region. Some of the prominent country-level markets are U.S., China, Germany, France, India, and Japan. It covers market size and estimations for each segment by region and country for the years 2016–2028. North America dominates the global Directional Drilling Services market and is expected to continue the same trend during upcoming years. This is accredited to the presence of key market players combined with rising demand from the end-users.  

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Directional Drilling Services Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

Major players in the global Directional Drilling Services market are National Oilwell Varco Inc., Ge Oil & Gas, Cathedral Energy Services Ltd., Baker Hughes Incorporated, Schlumberger Limited, Leam Drilling Systems LLC., Halliburton Company, Scientific Drilling International, Nabors Industries Ltd., Weatherford International PLC., Jindal Drilling & Industries Limited, Gyrodata Incorporated.. The global Directional Drilling Services market report covers an exhaustive analysis of all the key players in the industry. This includes a business overview, extensive portfolio, business strategies, news, financial performance, length of distribution network,  and geographical presence among others. In addition to that, the report also covers company market share along with in-depth strategic developments.   

Global Directional Drilling Services Market: Key Highlights

  • The global Directional Drilling Services market was valued at USD 2.3 Billion in 2020
  • The global Directional Drilling Services Market is projected to reach USD 3.22 Billion by 2028
  • North America held the highest share of the Directional Drilling Services market in 2020
  • Some of the major companies operating in the Directional Drilling Services market are National Oilwell Varco Inc., Ge Oil & Gas, Cathedral Energy Services Ltd., Baker Hughes Incorporated, Schlumberger Limited, Leam Drilling Systems LLC., Halliburton Company, Scientific Drilling International, Nabors Industries Ltd., Weatherford International PLC., Jindal Drilling & Industries Limited, Gyrodata Incorporated.

FAQ
Frequently Asked Question
  • The global Directional Drilling Services valued at 2.3 Billion in 2020 and is expected to reach 3.22 Billion in 2028 growing at a CAGR of 4.31%.

  • The prominent players in the market are National Oilwell Varco Inc., Ge Oil & Gas, Cathedral Energy Services Ltd., Baker Hughes Incorporated, Schlumberger Limited, Leam Drilling Systems LLC., Halliburton Company, Scientific Drilling International, Nabors Industries Ltd., Weatherford International PLC., Jindal Drilling & Industries Limited, Gyrodata Incorporated..

  • The market is project to grow at a CAGR of 4.31% between 2021 and 2028.

  • The driving factors of the Directional Drilling Services include

    • The demand for energy is increase in this current senario. With both the increasing population growth as well as higher standard of living for many people in developed and developing countries is generating strong growth in energy demand and supporting the growth of the marketb in the years to come.
    • The increased advanced technological developments is anticipated to augment the growth of the market in the years to come.

  • North America was the leading regional segment of the Directional Drilling Services in 2020.