The need to increase production from the harshest wells has raised the growth of directional drilling considerably. Market reports related with the energy and power industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is projected to expand with a 3.48 % CAGR in the forecast period.

Directional drilling is an important approach practiced by crude oil manufacturers to reach the toughest wells and optimizing the production from the resource land. Usually, the well is drilled vertically down in the area which is economically infeasible and more inclined to the risk of nonproduction. The directional drilling offers solution for drilling of oil wells at different angles other than vertical angle and assists in reaching better reserves of oil and gas. In spite of the progress in technology, directional drilling has been the key area of interest for oil upstream players owing to the applications involving this procedure.

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Top Manufacturers:

The key players of global oilfield equipment market are GE Oil and Gas (U.S.), Weatherford International (U.S.), Schlumberger (U.S.), Superior Energy Services (U.S.), Pioneer Energy Services Corp. (U.S.), C&J Energy Services Ltd. (U.S.), and National Oilwell Varco, Inc. (U.S.). Halliburton (U.S.), Basic Energy Services, Inc. (U.S.), Expro International Group Holding Ltd. (UK), Wireline Engineering Ltd. (UK), Oilserv (UAE), SGS (Switzerland), ABB Oil, and Gas and Petrochemical Business Unit (Switzerland) are among others.

Global Directional Drilling Market Segmentation

Global Directional Drilling Market has been segmented based on type, land, region, and services.

Based on type, the market has been segmented into horizontal directional drilling, oilfield directional drilling, and directional boring.

Based on land, the market has been segmented into offshore and onshore drilling.

Based on region, the market has been segmented into Europe, North America, Middle East & Africa, Asia Pacific, and South America.

Based on Services, the market has been segmented into LWD, MWD, rotary steerable systems, and motors.

Regional Analysis

The regional analysis of the directional drilling market consists of regions such as North America, Europe, Asia Pacific and rest of the world.

The market for directional drilling is poised for excellent development because of the recovering global oil prices. The North American and European regions are likely to control the market for directional drilling. These regions are witnessing a huge number of oil exploration activities in the Gulf of Mexico and the North Sea, which will lead to elevated drilling activities in these regions.

In addition, the huge number of mature oil wells from the North Sea in the European region and the Permian Basin and Bakken in the North American region are expected to require new drilling activities thus, motivating the directional drilling market. The African and the Middle Eastern region are also anticipated to observe vital growth over the forecast period owing to the mounting exploration activities together with growing demand for fuel from developing nations.

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