Geosteering Market Report, By Component (Software and Services), by Tools (LWD Tools & Technologies, MWD Tools, Rotary Steerable Systems (RSS), Drive Systems, and 3D Seismic/Gird Model, and Others), and by Region (North America, Europe, Asia Pacific, Lati

Geosteering Market Report, By Component (Software and Services), by Tools (LWD Tools & Technologies, MWD Tools, Rotary Steerable Systems (RSS), Drive Systems, and 3D Seismic/Gird Model, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Geosteering, often referred as next-generation directional control, uses combination of real-time electronic logs, analyzing data of drilling cuttings, and other details from various tools to identify thorough insights on rock layer that is being drilled. Various geosteering software and services are available in the market that along with other tools are used to retrieve the exact information of the spot being drilled. Such tools include LWD tools, MWD tools, RSS and other drive systems, mud motors, and others. Drill bit is also part of the system, however is not considered in the report scope as the revenue contribution from drill bits overwhelms the market revenue for other systems. The global geosteering market is segmented on the basis of component and tools across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Market opportunities: New Oilfield Discoveries
Increasing global population is propelling demand for oil and gas in the global geosteering market and this demand is excessing the production of oil and gas globally. For instance, according to the Organization of the Petroleum Exporting Countries (OPEC), in 2017, the world oil demand was 97.32 million barrels per day, whereas, the global supply was 96.10 million barrels per day. Due to this, many companies are investing in exploration of oil fields to increase their market share, and gain a competitive advantage in the market by meeting the increasing consumer demand. For instance, in August 2021, ExxonMobil announced the discovery of an oilfield in Guyana, South America.
Key features of the study:
This report provides in-depth analysis of global geosteering market size (US$ Mn), and compound annual growth rate (CAGR %) for the forecast period (2022-2028), considering 2021 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 approval, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global geosteering market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, strategies, and future plans
Companies covered as part of this study include, Cougar Drilling Solutions, Emerson Paradigm Holding LLC, Schlumberger Limited, GeoSteering Technologies, Petrolink, Geo-Steering Solutions Inc., Halliburton, Exlog, Geotech Logging Services LLC, United Oil & Gas Consulting Ltd., HMG Software, Horizontal Solutions International, Maxwell Dynamics, Terracosm Software, LLC, LMKR, Rogii Inc., and Lloyd's Register Group Services Ltd.
Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, product upgrades, market expansion, and marketing tactics
The global geosteering market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision making through various strategy matrices used in analyzing the global geosteering market.
Detailed Segmentation:
Global Geosteering Market, By Component:
Software
Services
Global Geosteering Market, By Tools:
LWD Tools & Technologies
Density Image (DI) Tools
Resistivity Image (RI) Tools
Directional deep Resistivity (DDR) Tools
MWD Tools
Rotary Steerable Systems (RSS)
Drive Systems
3D Seismic/Gird Model
Others (Mud Motors, etc.)
Global Geosteering Market, By Region:
North America
By Component:
Software
Services
By Tools:
LWD Tools & Technologies
Density Image (DI) Tools
Resistivity Image (RI) Tools
Directional Deep Resistivity (DDR) Tools
MWD Tools
Rotary Steerable Systems (RSS)
Drive Systems
3D Seismic/Gird Model
Others (Mud Motors, etc.)
By Country:
U.S.
Canada
Europe
By Component:
Software
Services
By Tools:
LWD Tools & Technologies
Density Image (DI) Tools
Resistivity Image (RI) Tools
Directional Deep Resistivity (DDR) Tools
MWD Tools
Rotary Steerable Systems (RSS)
Drive Systems
3D Seismic/Gird Model
Others (Mud Motors, etc.)
By Country:
Russia
Italy
France
Spain
U.K.
Rest of Europe
Asia Pacific
By Component:
Software
Services
By Tools:
LWD Tools & Technologies
Density Image (DI) Tools
Resistivity Image (RI) Tools
Directional Deep Resistivity (DDR) Tools
MWD Tools
Rotary Steerable Systems (RSS)
Drive Systems
3D Seismic/Gird Model
Others (Mud Motors, etc.)
By Country:
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
By Component:
Software
Services
By Tools:
LWD Tools & Technologies
Density Image (DI) Tools
Resistivity Image (RI) Tools
Directional Deep Resistivity (DDR) Tools
MWD Tools
Rotary Steerable Systems (RSS)
Drive Systems
3D Seismic/Gird Model
Others (Mud Motors, etc.)
By Country:
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa
By Component:
Software
Services
By Tools:
LWD Tools & Technologies
Density Image (DI) Tools
Resistivity Image (RI) Tools
Directional Deep Resistivity (DDR) Tools
MWD Tools
Rotary Steerable Systems (RSS)
Drive Systems
3D Seismic/Gird Model
Others (Mud Motors, etc.)
By Sub-region:
GCC Countries
South Africa
Rest of Middle East & Africa
Company Profiles
Cougar Drilling Solutions *
Company Highlights
Key Developments
Product Portfolio
Market Presence
Strategic Presence
Emerson Paradigm Holding LLC
Schlumberger Limited
GeoSteering Technologies
Petrolink
Geo-Steering Solutions Inc.
Halliburton
Exlog
Geotech Logging Services LLC
United Oil & Gas Consulting Ltd
HMG Software
Horizontal Solutions International
Maxwell Dynamics
Terracosm Software, LLC
LMKR
Rogii Inc.
Lloyd's Register Group Services Ltd.
* Key pointers are provided for each company listed.