PUNE, India, January 26, 2017 /PRNewswire/ --
The report "Directional Drilling Services Market by Application (Onshore, and Offshore), Type (Conventional, and Rotary Steerable System), Service (LWD, MWD & Survey, RSS, Motors), and Region - Global Forecast to 2021", Published by MarketsandMarkets, the market is expected to grow from an estimated USD 8.33 Billion in 2016 to USD 10.30 Billion by 2021, at a CAGR of 4.34% from 2016 to 2021.
Browse 76 market data Tables and 44 Figures spread through 164 Pages and in-depth TOC on "Directional Drilling Services Market"
Early buyers will receive 10% customization on this report.
Increasing demand for energy due to urbanization & industrialization, ongoing shale gas revolution and new oilfield discoveries are the major factors driving the market for directional drilling across the globe.
Rotary Steerable systems (RSS) based service would dominate the global Directional Drilling Services Market
In terms of services, the Directional Drilling Services Market in this report has been classified based on the following segments, namely, rotary steerable system (RSS), Logging While Drilling (LWD), Measurement While Drilling (MWD) & survey, motors and others (includes directional drilling technologies and systems such as well bore positioning, automated drilling systems, side tracking, well planning, hydraulics, torque, and drag analysis). The RSS segment dominated the Directional Drilling Services Market in 2016 due to the increase in the horizontal drilling activities associated with the development of shale gas mainly in countries such as China. According to the 12th five-year plan in China, the country planned on increasing its natural gas consumption to 9,200 Bcf by 2015 as it looks to replace coal as a chief energy source. Hence, the market size of the RSS is the largest.
Download PDF Brochure - http://www.marketsandmarkets.com/pdfdownload.asp?id=249722563
Conventional is the largest type-based market segment
The report also segments Directional Drilling Services Market on the basis of type, namely, Conventional & RSS. Conventional based Directional Drilling Services Market is expected to dominate the market by 2021. This growth is majorly driven by the Asia-Pacific due to the rapid industrialization and urbanization in the region.
North America is the dominant market for directional drilling
North America is currently the largest market for directional drilling services. In North America, most of the directional and horizontal wells are drilled in onshore reservoirs. In North America, the growth of the Directional Drilling Services Market can be attributed to factors such as ongoing shale gas developments in countries like U.S. and Canada.
Make an Inquiry - http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=249722563
To provide an in-depth understanding of the competitive landscape, the report includes profiles of companies; namely, Baker Hughes Incorporated (U.S.), Halliburton Company (U.S.), Schlumberger Limited (U.S.), Weatherford International plc. (Switzerland), National Oilwell Varco, Inc. (U.S.), Nabors industries ltd. (Bermuda), Cathedral Energy Services Ltd (Canada), Jindal Drilling & Industries Limited (India), General Electric Oil & Gas (U.K.), Gyrodata (U.S.) , Scientific drilling international (U.S.), LEAM drilling systems LLC, among others. Dominant players are trying to penetrate developing economies and are adopting various methods to grab the market share.
Browse Related Reports:
Wireline Services Market by Application (Onshore & Offshore), Type (Electricline & Slickline), Services (Completion, Intervention, & Logging), Hole Type (Cased Hole & Open Hole), and Region - Global Forecasts to 2021
Coiled Tubing Market by Services (Well Intervention (Well Completion & Well Cleaning) & Drilling), Active Fleet & by Geography - Global Trends & Forecasts to 2020
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/energy-and-power
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets