Growth of Sidetracking Market to be Impacted by the Production Optimization of Mature Oil and Gas Fields| Technavio

The market will accelerate at a CAGR of around 6% between 2020-2024

Technavio has announced its latest market research report titled Global Sidetracking Market 2020-2024 (Photo: Business Wire)

LONDON--()--The report, global sidetracking market 2020-2024 has been added to Technavio's catalog. It provides a comprehensive analysis of the market, including its global and regional market share as well as market segmentation based on geographic regions and application for the forecast period 2020-2024.

To learn more about the global trends impacting the future of market research: Download Free Sample Report

The report on the sidetracking market includes:

Sidetracking Market Analysis and Forecast 2020-2024: Features

  • Competitive landscape
  • Market segmentation
    • Regional Segmentation
    • Application
  • Market drivers
  • Market trends
  • Market challenges
  • Five forces analysis
  • Market landscape
  • Market sizing & forecast

Sidetracking Market 2020-2024: Competitive Landscape

  • Vendors covered
  • Vendor classification
    • Baker Hughes Co.
    • Equinor ASA
    • Eurasia Drilling Co. Ltd.
    • Halliburton Energy Services, Inc.
    • Nabors Industries Ltd.
    • National Oilwell Varco Inc.
    • Odfjell Drilling Ltd.
    • Schlumberger Ltd.
    • Weatherford International Plc
    • Yantai Jereh Oilfield Services Group Co. Ltd.

Sidetracking Market Landscape 2020-2024: Geographic Landscape

  • APAC - size and forecast 2019-2024
  • Europe - size and forecast 2019-2024
  • MEA - size and forecast 2019-2024
  • North America - size and forecast 2019-2024
  • South America - size and forecast 2019-2024
  • Key leading countries

Sidetracking Market Landscape 2020-2024: Application Segmentation

  • onshore - size and forecast 2019-2024
  • offshore - size and forecast 2019-2024

Register for a free trial today and gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Production optimization of mature oil and gas fields will drive the sidetracking market

The production efficiency of oil from a mature oil and gas field starts declining when the field attains its production peak. In addition, primary method such as natural reservoir pressure can recover only a small percentage of hydrocarbons from such fields. However, an efficient oil and gas drilling operation can improve the success rate of projects involving oil and gas recovery from mature fields. This is encouraging oil and gas companies to boost productivity and optimize oil and gas recovery by employing techniques such as sidetracking and EOR. Thus, the need for production optimization of mature oil and gas fields will boost the growth of the market during the forecast period.

The growing use of directional drilling – An emerging trend in the sidetracking market

Conventional resources exploration activities lead to environmental concerns. As a result, oil and gas companies are adopting directional drilling over conventional drilling as it allows them to obtain high productivity from multiple wells using a single vertical wellbore. This is propelling the need for sidetracking as it helps in drilling a directional lateral into bypassed zones. This enables E&P explorers to tap new reserves from the existing wellbore. Thus, the growing use of directional drilling is expected to drive market growth during the forecast period.

Other Key Topics Covered in the Report are:

MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

MARKET SIZING

  • Market definition
  • Market sizing 2019
  • Market size and forecast 2019-2024

Get Full Report: https://www.technavio.com/report/sidetracking-market-industry-analysis

CUSTOMER LANDSCAPE

DECISION FRAMEWORK

DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

Technavio also offers custom research services providing focused, comprehensive, and tailored research.

To learn more about the global trends impacting the future of market research: Download Free Sample Report

Related Reports on Energy include:

Fuel Oil Market – Global Fuel Oil Market by application (marine, industrial, and others) and geography (APAC, Europe, MEA, North America, and South America).

Oilfield Rotary Table Market – Global Oilfield Rotary Table Market by application (onshore and offshore) and geography (APAC, Europe, MEA, North America, and South America).

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com

Release Summary

The sidetracking market size has the potential to grow by USD 2.0 billion during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com