DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/x4lxv9/directional) has announced the addition of the "Directional Drilling Market 2015-2019" report to their offering.
The report forecasts the global directional drilling market to grow at a CAGR of 10.42% in terms of over the period 2014-2019.
The global directional drilling market is expected to witness steady growth in the forecast period spurred by increasing energy demand, advances in technologies such as MWD and LWD, data analytics and digital oilfield, and sizable investments in countries such as Brazil, Indonesia, China, Mexico, US, and Angola. The Americas dominates the directional drilling market, followed by APAC and EMEA. In terms of services, the largest market share is held by the rotary steerable segment, which is expected to grow at a significant rate in the forecast period.
The report includes the present scenario and the growth prospects of global directional drilling market for 2015-2019. The market can be segmented into five divisions: services and equipment, type of directional well, type of directional drilling, application, and geography. It also covers the landscape of the global directional drilling market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
The high demand for oil and gas and the rising number of maturing oilfields have increased the adoption of digital oilfield technology. Advances in digital oilfield technologies will help improve production rates, redevelop existing oilfield wells, facilitate production from unconventional resources such as shale formation, and improve well management. These advanced drilling technologies with remote monitoring and intelligent well completion will significantly increase the efficiency, control, and monitoring of the well.
According to the report the increased consumption and demand for oil and gas from various end-user segments is driving the global directional drilling market. Vendors and governments of various countries are therefore investing in directional drilling to enhance the global oil and gas production and maintain the demand-supply balance in the market. The diminishing oil production from existing reserves will further drive the market in terms of increased applications and drilling of multilateral and extended reach wells.
Further, the report states that the decline in prices is expected to be persisting during the forecast period and reduce investments in drilling activities, which will negatively impact the directional drilling services market.
The major application of directional drilling are mentioned below:
- Horizontal well drilling
- Multilateral well drilling
- Extended reach drilling
- Baker Hughes
- Superior Drilling Products
- Weatherford International
Other prominent vendors
- Calmena Energy Services
- Cathedral Energy Services
- General Electric Oil & Gas
- Leam Drilling Systems
- Michels Corporation
- Nabors Industries
The Directional Drilling Company
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by services and equipment
Part 07: Market segmentation by type of directional well
Part 08: Market segmentation by type of directional drilling
Part 09: Market segmentation by application
Part 10: Geographical segmentation
Part 11: Market drivers
Part 12: Impact of drivers
Part 13: Market challenges
Part 14: Impact of drivers and challenges
Part 15: Market trends
Part 16: Vendor landscape
Part 17: Key vendor analysis
Part 18: Appendix
For more information visit http://www.researchandmarkets.com/research/x4lxv9/directional