Directional drilling refers to a process of drilling a well with a preferred deviation to reach the target location. This type of drilling is done for placing the wellbore precisely to get maximum recovery both on land and offshore regions. The main aim of this type of drilling is to cover large areas by the use of the single rig. Maturing and aging onshore oilfields has paved paths to increasing directional drilling in the onshore regions supported by offshore exploration and production activities in deep and ultra-deep regions over the past few decades. This is further backed by augmenting horizontal drilling services to maximize the productivity of the oil and gas well.
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The increase in energy demand, urbanization, industrialization, increase in exploration, production activities, and various other factors have led to an increase in demand and growth for the directional drilling services market. Declining prices of crude oil stand are the major restraint in the directional drilling services market globally. Stringent government regulations further hinder the growth of the directional drilling services market.
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Global Directional Drilling Services Market Taxonomy
On the basis type, the global directional drilling services market is segmented as:
On the basis of service, the global directional drilling services market is segmented as:
On the basis of technology, the global directional drilling services include:
On the basis of application, the global directional drilling services market is segmented as:
Conventional directional drilling services are anticipated to be the dominant market over the forecast period.
The MWD and Survey are anticipated to be the dominant segment in the directional drilling services market, owing to its application in controlling the trajectory of the well while drilling. These techniques are anticipated to have wide use over the forecast period in North America and the Asia Pacific.
The onshore segment is the dominant segment of the directional drilling services market, owing to the maturing and aging onshore fields. However, offshore oilfield activities are witnessed to be at the fastest growing pace due to the development of new projects on deep and ultra-deep waters in the last few decades.
Global Directional Drilling Services Market Outlook
The major companies in the global directional drilling services include Halliburton Company, Weatherford International Plc., Schlumberger Limited, Nabors Industries Ltd., National Oilwell Varco, Cathedral Energy Services Ltd., Baker Hughes Incorporated, General Electric Oil & Gas, and Jindal Drilling & Industries Limited.
Global Directional Drilling Services Market Key Developments: