May 21, 2020 (Market Insight Reports) -- The directional drilling services market is expected to grow at a CAGR of approximately 5.55% during the forecast period 2020-2025.
The Directional Drilling Services market report is a most important research for who looks for complete information on the Directional Drilling Services market. The report covers all information on the global and regional markets including historic and future trends for market demand, size, trading, supply, competitors, and prices as well as global predominant vendor's information. The forecast market information, SWOT analysis, Directional Drilling Services market scenario, and feasibility study are the vital aspects analyzed in this report.
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Top Leading Companies of Global Directional Drilling Services Market are Baker Hughes , Halliburton Co. , Schlumberger Limited , Weatherford International PLC., National Oilwell Varco, Inc., GE Oil & Gas, Nabors Industries Ltd., Cathedral Energy Services Ltd., Jindal Drilling & Industries Limited, Gyrodata Incorporated, Scientific Drilling International, Leam Drilling Systems, LLC. /zigman2/quotes/201012972/composite SLB -1.13% and others.
The leading players of Directional Drilling Services industry, their market share, product portfolio, company profiles are covered in this report. The leading market players are analyzed on the basis of production volume, gross margin, market value, and price structure. The competitive market scenario among Directional Drilling Services players will help the industry aspirants in planning their strategies. The statistics offered in this report will be a precise and useful guide to shape the business growth.
Offshore Segment to Register Higher Growth
– The offshore oil and gas industry accounts for about 30% of the global crude oil production. The Middle East, North Sea, Brazil, the Gulf of Mexico, and the Caspian Sea are the major offshore oil and gas producing regions.
– The deepwater oil production is majorly concentrated in four countries, Angola, Brazil, Nigeria, and the United States. The Libra field in Brazil, the largest pre-salt discovery so far, began producing in late 2017 and the field development is expected to continue until the 2020s.
– The combined production from tight oil, oil sands, and deepwater is estimated to reach 21 mb/d by 2040 and is expected to account for almost a quarter of the global crude oil production. The changing economics and the exhaustion of some shallow offshore resources have compelled the producers to shift toward deepwater and ultra-deepwater resources.
– The decline in offshore rig count slowed down in 2018. The offshore activity is expected to garner momentum over the next two to three years. Moreover, more than 90 offshore projects are in the queue to receive a green signal. These factors are expected to drive the demand for directional drilling services in the offshore sector.
North America to lead the Market
– Mainly owing to the demand from the United States and Canada, North America leads the directional drilling services market and is expected to be the largest market as of 2019.
– The United States has one of the largest technically-recoverable shale gas reserves, and the second-largest tight oil reserves in the world. The technological development in the hydraulic fracturing and low breakeven prices have supported the oil and gas directional drilling activity in the region.
– In the United States, the directional drilling services market is primarily driven by new offshore projects and redevelopment of matured fields. Due to the recovering drilling activity, the gas output is expected to reach an average of 47 billion cubic foot per day by 2020. The production from Marcellus/Utica shale and new oil wells is expected to account for most of the growth in gas production.
– The biggest increase in activity is expected from Canada's main crude oil and gas producing region, Alberta. Consequently, the directional drilling services market is estimated to grow at a moderate pace in Canada.
– Therefore, rapid growth in the drilling activities and the increase in many horizontal wells in the region are expected to drive the directional drilling services market during the forecast period.
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Crucial Elements from the Table of Contents of Global Directional Drilling Services Market:
– Directional Drilling Services Market Overview
– Global Directional Drilling Services Market Competition, Profiles/Analysis, Strategies
– Global Directional Drilling Services Capacity, Production, Revenue (Value) by Region (2015-2020)
– Global Directional Drilling Services Supply (Production), Consumption, Export, Import by Region (2015-2020)
– Global Directional Drilling Services Market Regional Highlights
– Industrial Chain, Sourcing Strategy and Downstream Buyers
– Marketing Strategy Analysis, Distributors/Traders
– Market Effect Factors Analysis
– Market Decisions with respect to present scenario
– Global Directional Drilling Services Market Forecast (2020-2025)
– Case Studies
– Research Findings and Conclusion
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, Directional Drilling Services Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. Directional Drilling Services industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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