Global Directional Drilling Services Market Worth $13.45 Billion by 2025

Hexa Research

FELTON, California, October 17, 2018 /PRNewswire/ --

The global directional drilling services market size is expected to reach USD 13.45 billion by 2025. Increasing oil and gas exploration activities owing to high demand for energy in light of growth in manufacturing sectors is expected to drive the market over the forecast period. Technological advancements, which are attracting service providers, are also likely to contribute to the market growth. For instance, Motive Drilling Technologies, Inc. designed an automated decision-making through directional drilling bit guidance system and has applied it to 2 million feet drillings for various companies in North America. The system used provided better efficiency and accuracy in lesser time.

The drilling operators are increasingly investing in research and development to deliver innovative software drilling technologies in terms of instruments and software tools and services. NABORS has developed various drilling software including Navigator Directional Platform, which improves directional drilling process through visualization, tracking, and steering program. It provides data acquisition and supports modelling and visualization of the drilled and planned well paths from remote operating centers, thereby improving operational safety and efficiency and drilling performance. Thus, the advent of such systems is expected to have a positive impact on the directional drilling services market over the forecast period.

The directional drilling services have gain momentum over time owing to the unconventional reserves with more complex well geometries. To enhance the rate of penetration in certain harder-to-reach reserves are driving the demand for rotary steerable systems. Various benefits including longer laterals and greater intermediate reaches of these systems have revolutionized the drilling process. The RSS technologies service segment accounted for about USD 3.5 billion of the directional drilling market in 2012 and is expected to witness significant growth during the next few years. The RSS technology enables the use of Logging While Drilling (LWD) to provide full borehole images. This factor is also expected to drive the segment.