DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/vx88ft/directional) has announced the addition of the "Directional Drilling Services Market by Application, Services and Geography - Globas Trends and Forecasts to 2019" report to their offering.
The global directional drilling market is estimated to reach $29.11 billion by 2019, with a projected CAGR of 11.7%, signifying substantial increase in demand during next five years.
Directional drilling is a technique that involves deviating a wellbore along a planned path to explore the oil from a targeted position in the typical geologic structural oilfields. The directional drilling market has witnessed slow growth in the last five years, but is expected to gain momentum in coming years because of increasing investments in exploration and production (E&P) activities. The production rate of horizontal wells is also very high as compared to vertical wells.
The global directional drilling market is witnessing decent growth spurred by increasing energy demand, advancements in technology, and sizable investments around the globe, especially in North America and Asia-Pacific. North America dominates the directional drilling market, closely followed by Asia-Pacific. In terms of services, Rotary Steerable Systems (RSS) hold the largest market share in the directional drilling services market. In terms of applications, the market is dominated by offshore applications but onshore applications are expected to gain traction as well in the foreseeable future.
Furthermore, in terms of directional drilling types, the market share of the conventional type of directional drilling is set to gradually decline and this type will be overtaken by the rotary steerable directional drilling type. The figure provided below shows the directional drilling market share by geography in the year 2013.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Direction Drilling Market, By Services
8 Directional Drilling Market, By Application
9 Direction Drilling Market, By Type
10 Directional Drilling Market, By Region
11 Competitive Landscape
12 Company Profiles
- Baker Hughes Inc.
- Calmena Energy Services
- Cathedral Energy Services
- General Electric Oil & Gas
- Jindal Drilling & Industries Limited
- Key Energy Services
- Leam Drilling Systems Llc
- Nabors Industries Ltd.
- National Oilwell Varco
- Schlumberger Limited
- Scientific Drilling International
- Weatherford International Ltd.
For more information visit http://www.researchandmarkets.com/research/vx88ft/directional