PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1567294
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1567294
Directional Drilling Solutions & Services Market, By Type, By Technology (Rotary Steerable Systems, Conventional Directional Drilling, and Managed Pressure Drilling), By Application, By Geography
Global directional drilling solutions & services market is estimated to be valued at US$ 13.06 Bn in 2024 and is expected to reach US$ 22.57 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 13.06 Bn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
| Forecast Period 2024 to 2031 CAGR: | 8.10% | 2031 Value Projection: | US$ 22.57 Bn |
Directional drilling has revolutionized the construction of oil and gas wells by enabling wellbores to be steered horizontally along target geological formations. Advanced Directional Drilling Solutions & Services allow operators to maximize production from reservoirs and minimize surface footprints. Technologies such as rotary steerable systems and measurement-while-drilling tools provide precise wellbore placement and real-time drilling parameters to optimize directional well designs.
Market Dynamics:
The global Directional Drilling Solutions & Services market is driven by the increasing complexity of oil and gas field development projects involving long lateral well sections, multilateral well bores, and ultra-deepwater drilling. Directional drilling helps unlock reserves trapped in tight formations like shale basins. However, high equipment and operational costs pose challenges, while volatile energy prices impact offshore and unconventional oil & gas projects. Opportunities lie in automation and data analytics to improve drilling efficiency.
Key Features of the Study:
This report provides in-depth analysis of the global directional drilling solutions and services market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global Directional Drilling Solutions & Services market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Schlumberger Limited, Halliburton Company, Baker Hughes Company, National Oilwell Varco, Inc., Weatherford International plc, Nabors Industries Ltd., Patterson-UTI Energy, Inc., TechnipFMC plc, Aker Solutions ASA, Ensign Energy Services Inc., Transocean Ltd., Precision Drilling Corporation, KCA Deutag, Step Energy Services Ltd., and GDI Integrated Facility Services Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global Directional Drilling Solutions & Services market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Directional Drilling Solutions & Services market
Detailed Segmentation-
- Type Insights (Revenue, US$ Bn, 2019 - 2031)
- Equipment
- Services
- Technology Insights (Revenue, US$ Bn, 2019 - 2031)
- Rotary Steerable Systems (RSS)
- Conventional Directional Drilling
- Managed Pressure Drilling
- Application Insights (Revenue, US$ Bn, 2019 - 2031)
- Oil & Gas
- Mining
- Construction
- Utilities
- Others
- Regional Insights (Revenue, US$ Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- Schlumberger Limited
- Halliburton Company
- Baker Hughes Company
- National Oilwell Varco, Inc.
- Weatherford International plc
- Nabors Industries Ltd.
- Patterson-UTI Energy, Inc.
- TechnipFMC plc
- Aker Solutions ASA
- Ensign Energy Services Inc.
- Transocean Ltd.
- Precision Drilling Corporation
- KCA Deutag
- Step Energy Services Ltd.
- GDI Integrated Facility Services Inc.
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Type
- Market Snippet, By Technology
- Market Snippet, By Application
- Market Snippet, By Region
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Merger and Acquisitions
- New System Launches/Approvals
- Impact of COVID-19 Pandemic
4. Global Directional Drilling Solutions & Services Market, By Type, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
- Equipment
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Services
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
5. Global Directional Drilling Solutions & Services Market, By Technology, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
- Rotary Steerable Systems (RSS)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Conventional Directional Drilling
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Managed Pressure Drilling
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
6. Global Directional Drilling Solutions & Services Market, By Application, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
- Oil & Gas
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Mining
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Construction
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Utilities
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
7. Global Directional Drilling Solutions & Services Market, By Region, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- North America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Technology, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
- U.S.
- Canada
- Europe
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Technology, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Technology, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Technology, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Technology, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
- Israel
- GCC Countries
- Rest of the Middle East
- Africa
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Technology, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
- South Africa
- North Africa
- Central Africa
8. Competitive Landscape
- Company Profiles
- Schlumberger Limited
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Halliburton Company
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Baker Hughes Company
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- National Oilwell Varco, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Weatherford International plc
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Nabors Industries Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Patterson-UTI Energy, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- TechnipFMC plc
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Aker Solutions ASA
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Ensign Energy Services Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Transocean Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Precision Drilling Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- KCA Deutag
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Step Energy Services Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- GDI Integrated Facility Services Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Schlumberger Limited
9. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
10. Research Methodology
- References
- Research Methodology
- About us and Sales Contact
