According to the latest report by IMARC Group, titled “Horizontal Directional Drilling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global horizontal directional Drilling market size. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global horizontal directional drilling market reached a value of US$ 8.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 12.47 Billion by 2027 exhibiting a CAGR of 6.10% during 2022-2027.
Horizontal directional drilling (HDD) represents a trenchless drilling technique that utilizes steerable motor assemblies for digging horizontal bores. It primarily involves the usage of bites, rigs, pipes, and beamers to accurately drill along the chosen bore path and install underground electrical semiconductors, pipelines, service conduits, cables, etc. Horizontal directional drilling can be conducted with minimal requirements while causing negligible damage to the landscape or soil contamination. Consequently, it finds wide-ranging applications across numerous industries, such as oil and gas, telecommunications, power, transportation, etc.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
- Baker Hughes Company,
- Barbco Inc.,
- China Oilfield Services Limited (China National Offshore Oil Corporation),
- Ellingson Companies,
- Halliburton Company,
- Helmerich & Payne Inc.,
- Herrenknecht AG,
- Nabors Industries Ltd.,
- NOV Inc.,
- Schlumberger Limited,
- The Toro Company,
- Vermeer Corporation
- Weatherford International plc.
Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape
- Strategies of major players and product offerings
Horizontal Directional Drilling Market Trends and Drivers:
The growing number of onshore and offshore oil and gas exploration projects is primarily driving the horizontal directional drilling market. Additionally, the widespread adoption of HDD for increasing the production of oil and natural gas from thin oil zones is further stimulating the market growth.
Besides this, the rising utilization of horizontal directional drilling for designing, surveying, and installation of underground electrical telecommunication systems, owing to its several benefits, including flexibility, high efficiency, cost-effectiveness, etc., is acting as another significant growth-inducing factor. Moreover, the launch of various favorable policies by government bodies across countries aimed at promoting sustainable oil and gas exploration to reduce the impact on the surrounding environment is also bolstering the global market.
Apart from this, several technological advancements, such as the introduction of automated HDD systems for planning and guiding drilling tools with enhanced accuracy and minimal data-to-surface delays, are anticipated to fuel the horizontal directional drilling market over the forecasted period.
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Global Horizontal Directional Drilling Market 2022-2027 Analysis and Segmentation:
The report has segmented the market on the basis of region, technique, parts, application and end user.
Breakup by Technique:
- Conventional
- Rotary Steerable System
Breakup by Parts:
- Rigs
- Pipes
- Bits
- Reamers
Breakup by Application:
- On-shore
- Off-shore
Breakup by End User:
- Oil and Gas Excavation
- Utility
- Telecommunication
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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