Directional drilling services enable precise control of well bore placement while drilling complex oil and gas wells. It allows operators to drill multiple boreholes from a single drilling location, thereby reducing environmental footprint. The global directional drilling services market facilitates greater access to oil reserves in deep and unconventional reservoirs. The market offers technology integration services, measurement-while-drilling logging-while-drilling, and motors and accessories.
The global directional drilling services Market is estimated to be valued at US$ 9.58 billion in 2024 and is expected to exhibit a CAGR of 9.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Automation is accelerating the adoption of directional drilling techniques. The integration of advanced technologies like rotary steerable systems, mud motors, and logging-while-drilling instruments enable automated drilling of complex well profiles. This significantly improves drilling efficiency by optimizing drill bit rotation and direction. Automation helps reduce costs by minimizing rig time and number of rig mobilizations. It allows real-time monitoring and remote control of drilling operations on a single well-site. The trend towards automation is expected to drive the directional drilling services market during the forecast period.
Segment Analysis
Content: The global directional drilling services market is dominated by the onshore segment. The onshore drilling activities account for around 75% of the total drilling operations carried out worldwide. This is because major oil and gas reserves are located on land and drilling rigs can be easily mobilized on land. Also, regulatory norms are more lenient for onshore drilling. Within the onshore segment, tight reservoir drilling is a major sub-segment owing to the increasing exploration and production activities in tight reservoirs like shale basins.
Key Takeaways
The Global Directional Drilling Services Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. Advances in directional drilling technologies are supporting increasing complex oil and gas field development projects involving horizontal and multi-lateral well construction. The global directional drilling services Market is estimated to be valued at US$ 9.58 billion in 2024 and is expected to exhibit a CAGR of 9.2% over the forecast period 2024 to 2031.
Geographically, North America is currently the dominant as well as the fastest growing regional market for directional drilling services. This is due to the active shale gas and tight oil exploration in the United States. Several key players are focusing on expanding their operations and developing new technologies for effective drilling of tight oil and shale gas reservoirs in North America.
Key players operating in the directional drilling services market are B. Braun Melsungen AG, Fresenius Kabi, Leventon, S.A.U, Ambu A/S, Baxter International Inc., Halyard Health, and Nipro Corporation. One of the key strategies adopted by major players is partnerships and collaborations with exploration and production companies to strengthen their presence in lucrative regions and expand service offerings. Companies also focus on development of new motors and mud systems to enable efficient drilling of complex well trajectories.
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