Dublin, May 09, 2019 (GLOBE NEWSWIRE) -- The "Global Horizontal Directional Drilling Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The horizontal directional drilling market will register a CAGR of close to 8% by 2023.
The rising drilling activities in remote areas are impacting the horizontal directional drilling market growth during the forecast period.
E&P companies are starting to explore unconventional avenues for exploration in remote areas. For instance, the Middle East, the Gulf of Mexico, and the North Sea have been witnessing a reduction in the rate of production. In addition, the rise in the adoption of deepwater and ultra-deep-water drilling has further led to an increase in the investments of offshore drilling projects, in turn, contributing to the horizontal directional drilling market growth during the forecast period.
Growing consumption of oil and gas
The consumption of oil and gas continues to increase due to the rising worldwide demand for energy. The increasing consumption of oil and gas is expected to grow due to the increase in industrialization and urbanization in developing countries.
Growing adoption of renewable energy
The increase in renewable energy sources will affect the conventional fuel market as more investments are being redirected toward renewable energy sources. This will affect the growth of the global horizontal directional drilling market during the forecast period.
Competitive Landscape
The market appears to be highly fragmented with the presence of several market players. Companies are focusing on applications like predictable end-to-end real-time workflows, which are accessible from everywhere through the transformation of the cloud platform.
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 Co. LLC
- Halliburton Co.
- Nabors Industries Ltd.
- Schlumberger Ltd.
- Scientific Drilling International Inc.
- Weatherford International plc
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: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
- Automation in horizontal directional drilling technique
- Innovations in rotary steerable systems
- Increase in production efficiency of oilfields using big data analytics
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Baker Hughes, a GE Co. LLC
- Halliburton Co.
- Nabors Industries Ltd.
- Schlumberger Ltd.
- Scientific Drilling International Inc.
- Weatherford International plc
For more information about this report visit https://www.researchandmarkets.com/r/wmoctu