The global horizontal directional drilling market size is estimated to reach USD 17.6 billion by 2025
LONDON, Feb. 26, 2019 /PRNewswire/ -- Horizontal Directional Drilling (HDD) Market Size, Share & Trends Analysis Report By Technique (Conventional, Rotary Steerable System), By Parts, By Application, By End Use, And Segment Forecasts, 2019 - 2025
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The global horizontal directional drilling market size is estimated to reach USD 17.6 billion by 2025, according to a new report by Grand View Research, Inc., progress at a CAGR of 13.2% during the forecast period. Growing emphasis on adopting environment-friendly trenchless technologies globally is driving the HDD market, as this drilling technique is turning out to be one of the most critical subsurface construction methods for developing, maintaining, and replacing underground infrastructure.
Horizontal directional drilling has proved to be more convenient and environment-friendly as compared to conventional vertical maneuvering method. It is ideal for installing cables, conduits, and pipes for short-distance as well as long-distance projects and even at deeper depths.
Launch of newer generations of cellular networking technology, such as 4G and 5G, has increased the demand for capable transmission systems.As a result, horizontal directional drilling setups are increasingly being deployed for installing new telecommunication transmission lines.
Besides this, burgeoning demand for suitably-diffused distribution of electricity and natural gas from high-capacity intrastate and interstate lines and pipelines is also anticipated to propel the global horizontal directional drilling services market.
With the help of HDD rigs and other machines, significant volumes of oil and gas can be extracted from reservoirs, located as deep as 10,000 feet while causing a minimal impact on the environment. Moreover, HDD setup consumes lesser space, thereby making it ideal for situations where projects are located in congested areas and need to be completed in a short span of time.
Further key findings from the report suggest:
• The HDD midi rigs segment is projected to exhibit a CAGR of more than 4.0% during the forecast period
• Onshore HDD services business was valued at over USD 3 billion in 2018
• By 2025, the telecommunication segment is poised to hold a revenue share of over 25.0% of the global HDD services market
• North America accounted for the largest revenue share in the horizontal directional drilling (HDD) market in 2018. It is likely to retain its position through 2025
• The key players in the global horizontal directional drilling machines market include Ditch Witch; Vermeer Corporation; Ellingson Companies; and American Augers, Inc.
• Some of the major HDD service providers are Nabors Industries Ltd., UEA, Herrenknecht AG, and Laney Directional Drilling.
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