LONDON, Oct. 1, 2019 /PRNewswire/ -- Analysis by End User (Oil and Gas, Energy, Telecommunication, Electric Transmission), Company and Country Analysis and Forecasts
• Horizontal directional drilling is one of the most specialized techniques for drilling underground conduits with minimal damage to surrounding ecosystem. Moreover, the fact that HDD techniques also ensure more precision as compared to vertical drilling methods, is also going to stimulate the growth of the market over the forecast period.
• At the same time, the risks associated with conventional drilling methods, such as contamination of underground water, can also be avoided by adopting HDD techniques.
Market Overview and Trends
• Horizontal Directional Drilling (HDD)s techniques are gaining popularity each day due to its cost-effective methodology of hitting the maximum pay zone resulting in maximum oil production.
• Also, it is vastly being preferred over the conventional method due its low risk of damaging the ecosystem.
• Introduction of technologies like IoT will also help in making HDD more cost effective and preferred method of drilling.
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Factors Influencing the Market Growth:
• Cost effectiveness in targeting the maximum area of the oil and gas containing sub-surface pay zone and thus increasing production.
• Easy and faster way of oil and gas production compared to conventional methods
• Reduces the operating cost of the Application companies, resulting in more profits.
• IoT integration in the oil and gas drilling sector has reduced the risk in HDD, which in turn makes it a more preferred choice.
Factors Restraining the Market Growth:
• Declining Oil Spending Due to Low Crude Oil Price
• Increasing Focus on Renewable Energy
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Market Segmentation 2019-2029:
Market by End User
• Oil and Gas Market, 2019-2029
• Energy Market, 2019-2029
• Telecommunication Market, 2019-2029
• Electric Transmission Market, 2019-2029
Focused regional forecasts and analysis explore the future opportunities:
• North America Market, 2019-2029
• Europe Market, 2019-2029
• Asia-Pacific Market, 2019-2029
• Middle East Market, 2019-2029
• Africa Market, 2019-2029
• Key players are adopting mergers & acquisition and new product launches as their key strategy to sustain intense competition.
• Companies are strategically expanding their global presence and offering improved Horizontal Directional Drilling (HDD) technology across various sectors.
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Companies covered in the report include:
American Augers, Inc.
Creighton Rock Drill Ltd.
Direct Horizontal Drilling, Inc.
Ferguson Michiana Inc.
Horizontal Technology, Inc.
Inrock Drilling Systems, Incorporated
Laney Directional Drilling Co.
McLaughlin Group, Inc.
Midwest Underground Technology, Inc.
Nabors Industries Ltd.
Savant Technology LLC
Vector Magnetics LLC
VMT GmbH Gesellschaft Für Vermessungstechnik
To discuss this report please e-mail Sara Peerun on firstname.lastname@example.org