“Directional Drilling Services Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on directional drilling services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for directional drilling services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The directional drilling services market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Services: Logging-while-Drilling (LWD); Rotary Steerable System (RSS); Measurement While Drilling (MWD) and Survey; Drag Analysis; Well Bore Positioning; Other Services
- 2) By Well Type: Horizontal; Multilateral; Extended Reach
- 3) By Application: Onshore; Offshore
- Companies Mentioned: Baker Hughes Incorporated; NOV Inc.; Weatherford International PLC; Schlumberger Limited; Halliburton Company
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery Format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the directional drilling services market are: Baker Hughes Incorporated, NOV Inc., Weatherford International PLC, Schlumberger Limited, Halliburton Company, Nabors Industries Limited, Cathedral Energy Services Limited, Jindal Drilling and Industries Limited, Scientific Drilling International Inc., Leam Drilling Systems Inc., China Oilfield Services Limited, Phoenix Technology Services, NewTech Services Holding Limited, PHX Energy Services Corporation, Crescent Directional Drilling LP, and National Energy Services Reunited Corporation.
The global directional drilling services market is expected to grow from $13.75 billion in 2022 to $14.91 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The directional drilling services market is expected to grow to $20.01 billion in 2027 at a CAGR of 7.6%.
The directional drilling services market includes revenues earned by entities by providing directional drilling, and geo steering services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Directional drilling service refers to the process of managing a wellbore's direction and deviation to a predetermined subsurface target or location. The directional drilling services are used to precisely locate the reservoir's most lucrative zone. Irrespective of the reservoir environment, the best-integrated suite of directional drilling services reduces construction costs and increases output in several important ways.
North America was the largest region in the directional drilling services market in 2022. Asia-Pacific was the second-largest region in the directional drilling services market. The regions covered in the directional drilling services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of directional drilling services are logging-while-drilling, rotary steerable system, measurement while drilling and survey, drag analysis, wellbore positioning, and other services. Logging-while-drilling (LWD) refers to the practice of adding wireline-quality formation parameters to the directional data. The various well types are horizontal, multilateral, and extended reach. These are used onshore, and offshore.
An increase in the production of oil and gas from unconventional reserves is expected to propel the growth of the directional drilling services market going forward. Oil and gas production refers to the broad process of converting crude oil and natural gas extracted from wells into usable petroleum products for consumers. Directional drilling helps in the production of oil and gas by not only drilling vertically but also at other angles to better access and extract oil and gas reserves. For instance, in August 2022, according to the short-term energy outlook report published by the U.S. Energy Information Administration (EIA), a US-based, principal agency of the U.S. Federal Statistical System responsible for collecting energy information, global petroleum and other liquids production in 2020, reached 98.33 million barrels per day, that increased to 95.68 million barrels per day in 2021. Therefore, an increase in the production of oil and gas is driving the growth of the directional drilling services market.
Technological advancement is a key trend gaining popularity in the directional drilling services market. Major players in directional drilling services are focused on technological advancements to sustain their marketplace. For an instance, in August 2021, Schlumberger, a US-based, oilfield services company, launched autonomous directional drilling (ADD), which includes solutions to steer autonomously through any section of the wellbore. The new technology outlines ways to steer autonomously through any part of the wellbore and uses a downhole automated control system that is intelligent and dynamic and can instantaneously analyze and respond to data. The technology advancements allow for a self-steering bottom hole system that can drill through any good section. The current versions of ADD feature the auto-vertical, auto-tangent, and auto-curve functions.
In April 2020, Intrepid, a US-based oilfield firm, engaged in directional drilling, horizontal drilling, and reducing cost per foot, acquired Gyrodata, for an undisclosed amount. With this acquisition, Intrepid acquired the directional drilling business of Gyrodata. This acquisition enables Intrepid to create an incredibly distinct directional drilling service in terms of scope and capabilities. Gyrodata is an Us-based, oilfield services company engaged in directional drilling businesses.
The countries covered in the directional drilling services market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The directional drilling services market research report is one of a series of new reports from The Business Research Company that provides directional drilling services market statistics, including directional drilling services industry global market size, regional shares, competitors with a directional drilling services market share, detailed directional drilling services market segments, market trends and opportunities, and any further data you may need to thrive in the directional drilling services industry. This directional drilling services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Table of Contents
1. Executive Summary
2. Directional Drilling Services Market Characteristics
3. Directional Drilling Services Market Trends And Strategies
4. Directional Drilling Services Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Directional Drilling Services Market
- 4.2. Ukraine-Russia War Impact On Directional Drilling Services Market
- 4.3. Impact Of High Inflation On Directional Drilling Services Market
5. Directional Drilling Services Market Size And Growth
- 5.1. Global Directional Drilling Services Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Directional Drilling Services Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Directional Drilling Services Market Segmentation
- 6.1. Global Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Logging-While-Drilling (LWD)
- Rotary Steerable System (RSS)
- Measurement While Drilling (MWD) And Survey
- Drag Analysis
- Well Bore Positioning
- Other Services
- 6.2. Global Directional Drilling Services Market, Segmentation By Well Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Horizontal
- Multilateral
- Extended Reach
- 6.3. Global Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Onshore
- Offshore
7. Directional Drilling Services Market Regional And Country Analysis
- 7.1. Global Directional Drilling Services Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Directional Drilling Services Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Directional Drilling Services Market
- 8.1. Asia-Pacific Directional Drilling Services Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Directional Drilling Services Market
- 9.1. China Directional Drilling Services Market Overview
- 9.2. China Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Directional Drilling Services Market
- 10.1. India Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Directional Drilling Services Market
- 11.1. Japan Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Directional Drilling Services Market
- 12.1. Australia Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Directional Drilling Services Market
- 13.1. Indonesia Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Directional Drilling Services Market
- 14.1. South Korea Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Directional Drilling Services Market
- 15.1. Western Europe Directional Drilling Services Market Overview
- 15.2. Western Europe Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Directional Drilling Services Market
- 16.1. UK Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Directional Drilling Services Market
- 17.1. Germany Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Directional Drilling Services Market
- 18.1. France Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Directional Drilling Services Market
- 19.1. Eastern Europe Directional Drilling Services Market Overview
- 19.2. Eastern Europe Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Directional Drilling Services Market
- 20.1. Russia Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Directional Drilling Services Market
- 21.1. North America Directional Drilling Services Market Overview
- 21.2. North America Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Directional Drilling Services Market
- 22.1. USA Directional Drilling Services Market Overview
- 22.2. USA Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Directional Drilling Services Market
- 23.1. South America Directional Drilling Services Market Overview
- 23.2. South America Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Directional Drilling Services Market
- 24.1. Brazil Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Directional Drilling Services Market
- 25.1. Middle East Directional Drilling Services Market Overview
- 25.2. Middle East Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Directional Drilling Services Market
- 26.1. Africa Directional Drilling Services Market Overview
- 26.2. Africa Directional Drilling Services Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Directional Drilling Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Directional Drilling Services Market Competitive Landscape And Company Profiles
- 27.1. Directional Drilling Services Market Competitive Landscape
- 27.2. Directional Drilling Services Market Company Profiles
- 27.2.1. Baker Hughes Incorporated
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. NOV Inc
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Weatherford International PLC
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Schlumberger Limited
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Halliburton Company
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Directional Drilling Services Market
29. Directional Drilling Services Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer