Dublin, March 21, 2019 (GLOBE NEWSWIRE) -- The "Global Directional Drilling Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The directional drilling market will register a CAGR of over 7% by 2023.
The increasing liquid fuel consumption rate is expected to grow steadily during the forecast period. triggered by the increase in industrialization and urbanization from developing countries. To meet the increase in fuel demand, major oil and gas companies have resorted to increasing their oil and gas exploration and production projects to support the demand for oil and gas consumption.
Urbanization and the rise in disposable income have driven the economic development of countries. Oil and gas companies are increasing their exploration and production activities to meet the increasing demand for oil and natural gas. Companies are also focusing on those production techniques and areas where oil and gas production can be maximized.
Increasing investment in offshore projects
Thus, many proposed deepwater and offshore exploratory projects are being executed by large oil and gas companies. The advances in technology for better operational performance of the projects further support the growth of offshore oil and gas projects. Thus, increasing the demand for directional drilling equipment, thereby driving market growth.
Volatile crude oil prices
E&P projects are mostly executed when the revenue generated is high so that upstream companies can make profits. The uncertainty in crude oil prices will affect investments in E&P projects, and this, in turn, will affect the growth of the global directional drilling market during the forecast period.
Competitive Landscape
The market appears to be highly fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Key Players
- Baker Hughes, a GE Company
- Halliburton
- Schlumberger Limited
- Scientific Drilling International
- Weatherford
Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Comparison by application
- Onshore - Market size and forecast 2018-2023
- Offshore - Market size and forecast 2018-2023
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic comparison
- North America - Market size and forecast 2018-2023
- APAC - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DRIVERS AND CHALLENGES
PART 10: MARKET TRENDS
- Integrated directional drilling technologies
- Artificial intelligence in directional drilling
- Collaboration of oil and gas companies
PART 11: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 12: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Baker Hughes, a GE Company
- Halliburton
- Schlumberger Limited
- Scientific Drilling International
- Weatherford
For more information about this report visit https://www.researchandmarkets.com/research/ft7vhh/the_worldwide?w=12
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