COVID-19 Impacts: Rotary Steerable Systems Market Will Accelerate at a CAGR of Over 7% Through 2020-2024 | Increase in Investments Toward Directional Drilling to Boost Growth | Technavio

Technavio has announced its latest market research report titled Global Rotary Steerable Systems Market 2020-2024 (Graphic: Business Wire)

LONDON--()--Technavio has been monitoring the rotary steerable systems market and it is poised to grow by USD 2.43 billion during 2020-2024, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Free Sample Report on COVID-19 Impact

Frequently Asked Questions-

  • What was the value of the rotary steerable systems market in 2019?
  • Technavio says that the value of the market was USD 5.66 billion in 2019 and is projected to reach USD 8.09 billion by 2024.
  • At what rate is the market projected to grow during the forecast period 2020-2024?
  • Growing at a CAGR of over 7%, the market growth will accelerate during the forecast period.
  • What is the key factor driving the market?
  • The increase in investments toward directional drilling and the growing consumption of oil and gas are the key factors driving the market growth.
  • Who are the top players in the market?
  • APS Technology Inc. Baker Hughes Co., DoubleBarrel RSS, D-Tech Rotary Steerable, Halliburton Co., Huisman Well Technology BV, Nabors Industries Ltd., National Oilwell Varco Inc., Schlumberger Ltd., and Weatherford International Plc. are some of the major market participants.
  • Which region is expected to hold the highest market share?
  • North America

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. APS Technology Inc., Baker Hughes Co., DoubleBarrel RSS, D-Tech Rotary Steerable, Halliburton Co., Huisman Well Technology BV, Nabors Industries Ltd., National Oilwell Varco Inc., Schlumberger Ltd., and Weatherford International Plc are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

An increase in investments toward directional drilling has been instrumental in driving the growth of the market.

Rotary Steerable Systems Market 2020-2024: Segmentation

Rotary Steerable Systems Market is segmented as below:

  • Application
    • Onshore
    • Offshore
  • Geographic Landscape
    • APAC
    • Europe
    • MEA
    • North America
    • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41544

Rotary Steerable Systems Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our rotary steerable systems market report covers the following areas:

  • Rotary Steerable Systems Market size
  • Rotary Steerable Systems Market trends
  • Rotary Steerable Systems Market analysis

This study identifies the growing consumption of oil and gas as one of the prime reasons driving the rotary steerable systems market growth during the next few years.

Rotary Steerable Systems Market 2020-2024: Vendor Analysis

We provide a detailed analysis of vendors operating in the rotary steerable systems market, including some of the vendors such as APS Technology Inc., Baker Hughes Co., DoubleBarrel RSS, D-Tech Rotary Steerable, Halliburton Co., Huisman Well Technology BV, Nabors Industries Ltd., National Oilwell Varco Inc., Schlumberger Ltd., and Weatherford International Plc. Backed with competitive intelligence and benchmarking, our research reports on the rotary steerable systems market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Rotary Steerable Systems Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist rotary steerable systems market growth during the next five years
  • Estimation of the rotary steerable systems market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the rotary steerable systems market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of rotary steerable systems market vendors

Table of Contents:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application placement
  • Onshore - Market size and forecast 2019-2024
  • Offshore - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer Landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher-priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption
  • Vendor Analysis

Vendors covered

  • Market positioning of vendors
  • APS Technology Inc.
  • Baker Hughes Co.
  • DoubleBarrel RSS
  • D-Tech Rotary Steerable
  • Halliburton Co.
  • Huisman Well Technology BV
  • Nabors Industries Ltd.
  • National Oilwell Varco Inc.
  • Schlumberger Ltd.
  • Weatherford International Plc

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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: www.technavio.com/

Release Summary

The Global Rotary Steerable Systems Market will grow by USD 2.43 bn 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: www.technavio.com/