Drilling Services Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Drilling Services Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Drilling Services Market

The Drilling services market size was valued at USD 12.88 billion in 2019. The market is projected to grow from USD 26.84 billion in 2032, exhibiting a CAGR of 9.3% during the forecast period of 2020-2032.

The COVID-19 pandemic negatively impacted the drilling services marketplace due to a sharp decline in oil and gasoline demand, due to global lockdowns and tour restrictions. Exploration and production sports were halted or delayed as companies faced financial constraints and decreased investments. Supply chain disruptions similarly hindered system availability, delaying projects. The drop in oil charges at some stage in the pandemic pressured strength groups to cut budgets, main to fewer drilling operations. Workforce shortages and health issues also constrained subject sports. However, as economies get better and energy demand rebounds, the marketplace is step by step regaining momentum, with a focus on fee-effective and sustainable answers.

A predominant fashion inside the drilling services market is the adoption of advanced digital technologies and automation. Companies are an increasing number of using artificial intelligence (AI), system gaining knowledge of, and statistics analytics to optimize drilling operations, enhance efficiency, and decrease prices. Automation and far flung monitoring technologies allow real-time records series, improving selection-making and minimizing downtime. Additionally, the combination of Internet of Things (IoT) devices allows predictive protection and greater protection. These innovations are specially applicable as the industry focuses on sustainable practices, inclusive of reducing emissions and strength intake. Digitalization is driving the transition towards smarter, faster, and extra cost-powerful drilling answers.

One key driving aspect for the drilling services market is the increasing worldwide call for energy, particularly oil and gasoline. As economies get better and business interest resumes post-pandemic, the need for exploration and manufacturing of oil and gas assets intensifies. This drives the call for drilling services to find and extract those resources efficiently. Additionally, the shift closer to deep-water drilling, unconventional oil extraction (such as shale oil), and offshore projects similarly fuels marketplace boom. Technological improvements, including automation and digital solutions, additionally decorate operational performance, making drilling offerings more fee-powerful and attractive to strength businesses in search of to maximize manufacturing.

Comprehensive Analysis of Drilling services market

The Drilling services market growth is rising at an exponential rate due to its marketplace segmentation. This market expansion correctly affords a detailed local assessments thinking about the dominant supply and call for forces that effect the enterprise. These segmentations are methodically segregated by service include directional drilling {measurement while drilling, logging while drilling, rotary steerable system, gyro drilling, magnetic drilling, and others} and non-directional drilling, by application include onshore and offshore {shallow water, deepwater, and ultra-deepwater}, by end-user include oil & gas, mining, water exploration, and others.

The North America location lead the Drilling services market share percentage via benefitting a marketplace size of USD 4.93 billion due to the presence of various key industry players, long-standing expertise in exploring complex formations, the presence of large unconventional reserves, and favorable government policies, among other factors.

The top players in the market play a crucial role in the industry assuring market growth and setting market standards. These players include, gyrodata, schlumberger, stockholm precision tools ab, icefield tools corporation, devico as, brownline, axis mining technology.

November 2020: Seadrill Ltd secured a drilling agreement with Walter Oil & Gas to drill and make the most reserves inside the Gulf of Mexico. The contract involves positioning a semi-submersible rig, which is predicted to make a contribution about USD 17 million to Seadrill's backlog sales. This deal strengthens Seadrill’s position inside the offshore drilling market, helping its revenue increase.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2016-2027

Base Year 2019

Forecast Period 2020-2027

Historical Period 2016-2018

Unit Value (USD Billion)

Segmentation Service; Application; End-User; and Geography

By Service

Directional Drilling

Measurement While Drilling

Logging While Drilling

Rotary Steerable System

Gyro Drilling

Magnetic Drilling

Others

Non-Directional Drilling

By Application

Onshore

Offshore

Shallow Water

Deepwater

Ultra-Deepwater

By End-User

Oil & Gas

Mining

Water Exploration

Others

By Geography

North America

By Service

By Application

By End-User

By Country

The U.S.

Canada

Europe

By Service

By Application

By End-User

By Country

The UK

Germany

France

Italy

Norway

Russia

Rest of Europe

Asia Pacific

By Service

By Application

By End-User

By Country

China

India

Japan

Australia

Southeast Asia

Rest of Asia Pacific

Latin America

By Service

By Application

By End-User

By Country

Brazil

Mexico

Rest of Latin America

The Middle East & Africa

By Service

By Application

By End-User

By Country

GCC

South Africa

Rest of the Middle East & AfricaPlease Note: It will take 5-6 business days to complete the report upon order confirmation.


1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Key Industry Developments
4.4. Regulatory Landscape
4.5. Porters Five Forces Analysis
5. Qualitative Analysis – Impact of COVID-19
5.1. Impact of COVID-19 on the Drilling Services Market
5.2. Steps Taken by the Government to Overcome the Impact
5.3. Key Developments by Industry Players in Response to COVID-19
5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
6. Global Drilling Services Market Analysis (USD Billion), Insights and Forecast, 2016–2027
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Service
6.2.1. Directional Drilling
6.2.1.1. Measurement While Drilling
6.2.1.2. Logging While Drilling
6.2.1.3. Rotary Steerable System
6.2.1.4. Gyro Drilling
6.2.1.5. Magnetic Drilling
6.2.1.6. Others
6.2.2. Non-Directional Drilling
6.3. Market Analysis, Insights and Forecast – By Application
6.3.1. Onshore
6.3.2. Offshore
6.3.2.1. Shallow Water
6.3.2.2. Deepwater
6.3.2.3. Ultra-Deepwater
6.4. Market Analysis, Insights and Forecast – By End-User
6.4.1. Oil & Gas
6.4.2. Mining
6.4.3. Water Exploration
6.4.4. Others
6.5. Market Analysis, Insights and Forecast – By Region
6.5.1. North America
6.5.2. Europe
6.5.3. Asia Pacific
6.5.4. Latin America
6.5.5. Middle East and Africa
7. North America Drilling Services Market Analysis (USD Billion), Insights and Forecast, 2016–2027
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Service
7.2.1. Directional Drilling
7.2.1.1. Measurement While Drilling
7.2.1.2. Logging While Drilling
7.2.1.3. Rotary Steerable System
7.2.1.4. Gyro Drilling
7.2.1.5. Magnetic Drilling
7.2.1.6. Others
7.2.2. Non-Directional Drilling
7.3. Market Analysis, Insights and Forecast – By Application
7.3.1. Onshore
7.3.2. Offshore
7.3.2.1. Shallow Water
7.3.2.2. Deepwater
7.3.2.3. Ultra-Deepwater
7.4. Market Analysis, Insights and Forecast – By End-User
7.4.1. Oil & Gas
7.4.2. Mining
7.4.3. Water Exploration
7.4.4. Others
7.5. Market Analysis, Insights and Forecast – By Country
7.5.1. U.S.
7.5.2. Canada
8. Europe Drilling Services Market Analysis (USD Billion), Insights and Forecast, 2016–2027
8.1. Key Findings / Summary
8.2. Market Analysis, Insights and Forecast – By Service
8.2.1. Directional Drilling
8.2.1.1. Measurement While Drilling
8.2.1.2. Logging While Drilling
8.2.1.3. Rotary Steerable System
8.2.1.4. Gyro Drilling
8.2.1.5. Magnetic Drilling
8.2.1.6. Others
8.2.2. Non-Directional Drilling
8.3. Market Analysis, Insights and Forecast – By Application
8.3.1. Onshore
8.3.2. Offshore
8.3.2.1. Shallow Water
8.3.2.2. Deepwater
8.3.2.3. Ultra-Deepwater
8.4. Market Analysis, Insights and Forecast – By End-User
8.4.1. Oil & Gas
8.4.2. Mining
8.4.3. Water Exploration
8.4.4. Others
8.5. Market Analysis, Insights and Forecast – By Country
8.5.1. UK
8.5.2. Germany
8.5.3. France
8.5.4. Italy
8.5.5. Norway
8.5.6. Russia
8.5.7. Rest of Europe
9. Asia Pacific Drilling Services Market Analysis (USD Billion), Insights and Forecast, 2016–2027
9.1. Key Findings / Summary
9.2. Market Analysis, Insights and Forecast – By Service
9.2.1. Directional Drilling
9.2.1.1. Measurement While Drilling
9.2.1.2. Logging While Drilling
9.2.1.3. Rotary Steerable System
9.2.1.4. Gyro Drilling
9.2.1.5. Magnetic Drilling
9.2.1.6. Others
9.2.2. Non-Directional Drilling
9.3. Market Analysis, Insights and Forecast – By Application
9.3.1. Onshore
9.3.2. Offshore
9.3.2.1. Shallow Water
9.3.2.2. Deepwater
9.3.2.3. Ultra-Deepwater
9.4. Market Analysis, Insights and Forecast – By End-User
9.4.1. Oil & Gas
9.4.2. Mining
9.4.3. Water Exploration
9.4.4. Others
9.5. Market Analysis, Insights and Forecast – By Country
9.5.1. China
9.5.2. India
9.5.3. Japan
9.5.4. Australia
9.5.5. Southeast Asia
9.5.6. Rest of Asia Pacific
10. Latin America Drilling Services Market Analysis (USD Billion), Insights and Forecast, 2016–2027
10.1. Key Findings / Summary
10.2. Market Analysis, Insights and Forecast – By Service
10.2.1. Directional Drilling
10.2.1.1. Measurement While Drilling
10.2.1.2. Logging While Drilling
10.2.1.3. Rotary Steerable System
10.2.1.4. Gyro Drilling
10.2.1.5. Magnetic Drilling
10.2.1.6. Others
10.2.2. Non-Directional Drilling
10.3. Market Analysis, Insights and Forecast – By Application
10.3.1. Onshore
10.3.2. Offshore
10.3.2.1. Shallow Water
10.3.2.2. Deepwater
10.3.2.3. Ultra-Deepwater
10.4. Market Analysis, Insights and Forecast – By End-User
10.4.1. Oil & Gas
10.4.2. Mining
10.4.3. Water Exploration
10.4.4. Others
10.5. Market Analysis, Insights and Forecast – By Country
10.5.1. Brazil
10.5.2. Mexico
10.5.3. Rest of Latin America
11. Middle East & Africa Drilling Services Market Analysis (USD Billion), Insights and Forecast, 2016–2027
11.1. Key Findings / Summary
11.2. Market Analysis, Insights and Forecast – By Service
11.2.1. Directional Drilling
11.2.1.1. Measurement While Drilling
11.2.1.2. Logging While Drilling
11.2.1.3. Rotary Steerable System
11.2.1.4. Gyro Drilling
11.2.1.5. Magnetic Drilling
11.2.1.6. Others
11.2.2. Non-Directional Drilling
11.3. Market Analysis, Insights and Forecast – By Application
11.3.1. Onshore
11.3.2. Offshore
11.3.2.1. Shallow Water
11.3.2.2. Deepwater
11.3.2.3. Ultra-Deepwater
11.4. Market Analysis, Insights and Forecast – By End-User
11.4.1. Oil & Gas
11.4.2. Mining
11.4.3. Water Exploration
11.4.4. Others
11.5. Market Analysis, Insights and Forecast – By Country
11.5.1. GCC
11.5.2. South Africa
11.5.3. Rest of Middle East & Africa
12. Competitive Analysis
12.1. Company Market Share Analysis, 2019
12.2. Company Profile
12.2.1. Schlumberger
12.2.1.1. Business Overview
12.2.1.2. Product & Service Offering
12.2.1.3. Overall Revenue
12.2.1.4. Geographic Presence
12.2.1.5. Recent Development
12.2.2. Gyrodata
12.2.2.1. Business Overview
12.2.2.2. Product & Service Offering
12.2.2.3. Overall Revenue
12.2.2.4. Geographic Presence
12.2.2.5. Recent Development
12.2.3. Stockholm Precision Tools AB (SPT)
12.2.3.1. Business Overview
12.2.3.2. Product & Service Offering
12.2.3.3. Overall Revenue
12.2.3.4. Geographic Presence
12.2.3.5. Recent Development
12.2.4. Icefield Tools Corporation
12.2.4.1. Business Overview
12.2.4.2. Product & Service Offering
12.2.4.3. Overall Revenue
12.2.4.4. Geographic Presence
12.2.4.5. Recent Development
12.2.5. Devico AS
12.2.5.1. Business Overview
12.2.5.2. Product & Service Offering
12.2.5.3. Overall Revenue
12.2.5.4. Geographic Presence
12.2.5.5. Recent Development
12.2.6. Brownline
12.2.6.1. Business Overview
12.2.6.2. Product & Service Offering
12.2.6.3. Overall Revenue
12.2.6.4. Geographic Presence
12.2.6.5. Recent Development
12.2.7. Axis Mining Technology
12.2.7.1. Business Overview
12.2.7.2. Product & Service Offering
12.2.7.3. Overall Revenue
12.2.7.4. Geographic Presence
12.2.7.5. Recent Development
12.2.8. Scientific Drilling
12.2.8.1. Business Overview
12.2.8.2. Product & Service Offering
12.2.8.3. Overall Revenue
12.2.8.4. Geographic Presence
12.2.8.5. Recent Development
12.2.9. Inertial Sensing One AB
12.2.9.1. Business Overview
12.2.9.2. Product & Service Offering
12.2.9.3. Overall Revenue
12.2.9.4. Geographic Presence
12.2.9.5. Recent Development
12.2.10. Nabors Industries
12.2.10.1. Business Overview
12.2.10.2. Product & Service Offering
12.2.10.3. Overall Revenue
12.2.10.4. Geographic Presence
12.2.10.5. Recent Development
12.2.11. Halliburton
12.2.11.1. Business Overview
12.2.11.2. Product & Service Offering
12.2.11.3. Overall Revenue
12.2.11.4. Geographic Presence
12.2.11.5. Recent Development
12.2.12. Weatherford (Switzerland)
12.2.12.1. Business Overview
12.2.12.2. Product & Service Offering
12.2.12.3. Overall Revenue
12.2.12.4. Geographic Presence
12.2.12.5. Recent Development
12.2.13. TechnipFMC
12.2.13.1. Business Overview
12.2.13.2. Product & Service Offering
12.2.13.3. Overall Revenue
12.2.13.4. Geographic Presence
12.2.13.5. Recent Development
12.2.14. China Oilfield Services Limited (China)
12.2.14.1. Business Overview
12.2.14.2. Product & Service Offering
12.2.14.3. Overall Revenue
12.2.14.4. Geographic Presence
12.2.14.5. Recent Development
12.2.15. Oceaneering
12.2.15.1. Business Overview
12.2.15.2. Product & Service Offering
12.2.15.3. Overall Revenue
12.2.15.4. Geographic Presence
12.2.15.5. Recent Development
12.2.16. AnTech
12.2.16.1. Business Overview
12.2.16.2. Product & Service Offering
12.2.16.3. Overall Revenue
12.2.16.4. Geographic Presence
12.2.16.5. Recent Development
12.2.17. Compass Directional Guidance, Inc.
12.2.17.1. Business Overview
12.2.17.2. Product & Service Offering
12.2.17.3. Overall Revenue
12.2.17.4. Geographic Presence
12.2.17.5. Recent Development
12.2.18. Drill Tech Solution
12.2.18.1. Business Overview
12.2.18.2. Product & Service Offering
12.2.18.3. Overall Revenue
12.2.18.4. Geographic Presence
12.2.18.5. Recent Development
12.2.19. Unitech Drilling Company Limited
12.2.19.1. Business Overview
12.2.19.2. Product & Service Offering
12.2.19.3. Overall Revenue
12.2.19.4. Geographic Presence
12.2.19.5. Recent Development
12.2.20. DIDRILLSA LTDA
12.2.20.1. Business Overview
12.2.20.2. Product & Service Offering
12.2.20.3. Overall Revenue
12.2.20.4. Geographic Presence
12.2.20.5. Recent Development
12.2.21. VES Survey International
12.2.21.1. Business Overview
12.2.21.2. Product & Service Offering
12.2.21.3. Overall Revenue
12.2.21.4. Geographic Presence
12.2.21.5. Recent Development
12.2.22. Archer - the well company
12.2.22.1. Business Overview
12.2.22.2. Product & Service Offering
12.2.22.3. Overall Revenue
12.2.22.4. Geographic Presence
12.2.22.5. Recent Development
12.2.23. Superior Energy Services
12.2.23.1. Business Overview
12.2.23.2. Product & Service Offering
12.2.23.3. Overall Revenue
12.2.23.4. Geographic Presence
12.2.23.5. Recent Development
12.2.24. Baker Hughes
12.2.24.1. Business Overview
12.2.24.2. Product & Service Offering
12.2.24.3. Overall Revenue
12.2.24.4. Geographic Presence
12.2.24.5. Recent Development
12.2.25. Petrofac
12.2.25.1. Business Overview
12.2.25.2. Product & Service Offering
12.2.25.3. Overall Revenue
12.2.25.4. Geographic Presence
12.2.25.5. Recent Development
12.2.26. Huracan Pty Ltd. (Australia)
12.2.26.1. Business Overview
12.2.26.2. Product & Service Offering
12.2.26.3. Overall Revenue
12.2.26.4. Geographic Presence
12.2.26.5. Recent Development
12.2.27. Leam Drilling Systems LLC
12.2.27.1. Business Overview
12.2.27.2. Product & Service Offering
12.2.27.3. Overall Revenue
12.2.27.4. Geographic Presence
12.2.27.5. Recent Development
12.2.28. NOV
12.2.28.1. Business Overview
12.2.28.2. Product & Service Offering
12.2.28.3. Overall Revenue
12.2.28.4. Geographic Presence
12.2.28.5. Recent Development
12.2.29. AlMansoori Specialized Engineering
12.2.29.1. Business Overview
12.2.29.2. Product & Service Offering
12.2.29.3. Overall Revenue
12.2.29.4. Geographic Presence
12.2.29.5. Recent Development
12.2.30. NewTech Services
12.2.30.1. Business Overview
12.2.30.2. Product & Service Offering
12.2.30.3. Overall Revenue
12.2.30.4. Geographic Presence
12.2.30.5. Recent Development
12.2.31. The Weir Group PLC
12.2.31.1. Business Overview
12.2.31.2. Product & Service Offering
12.2.31.3. Overall Revenue
12.2.31.4. Geographic Presence
12.2.31.5. Recent Development
12.2.32. JINDAL DRILLING & INDUSTRIES LTD.
12.2.32.1. Business Overview
12.2.32.2. Product & Service Offering
12.2.32.3. Overall Revenue
12.2.32.4. Geographic Presence
12.2.32.5. Recent Development
12.2.33. Boart Longyear
12.2.33.1. Business Overview
12.2.33.2. Product & Service Offering
12.2.33.3. Overall Revenue
12.2.33.4. Geographic Presence
12.2.33.5. Recent Development
12.2.34. Integra
12.2.34.1. Business Overview
12.2.34.2. Product & Service Offering
12.2.34.3. Overall Revenue
12.2.34.4. Geographic Presence
12.2.34.5. Recent Development
12.2.35. International Drilling Services LLC
12.2.35.1. Business Overview
12.2.35.2. Product & Service Offering
12.2.35.3. Overall Revenue
12.2.35.4. Geographic Presence
12.2.35.5. Recent Development
12.2.36. Radial Drilling Services, Inc.
12.2.36.1. Business Overview
12.2.36.2. Product & Service Offering
12.2.36.3. Overall Revenue
12.2.36.4. Geographic Presence
12.2.36.5. Recent Development
12.2.37. Welltec
12.2.37.1. Business Overview
12.2.37.2. Product & Service Offering
12.2.37.3. Overall Revenue
12.2.37.4. Geographic Presence
12.2.37.5. Recent Development
12.2.38. JAE (Japan)
12.2.38.1. Business Overview
12.2.38.2. Product & Service Offering
12.2.38.3. Overall Revenue
12.2.38.4. Geographic Presence
12.2.38.5. Recent Development
12.2.39. KLX Energy Services
12.2.39.1. Business Overview
12.2.39.2. Product & Service Offering
12.2.39.3. Overall Revenue
12.2.39.4. Geographic Presence
12.2.39.5. Recent Development
12.2.40. Gyro Drilling
12.2.40.1. Business Overview
12.2.40.2. Product & Service Offering
12.2.40.3. Overall Revenue
12.2.40.4. Geographic Presence
12.2.40.5. Recent Development
12.2.41. Zupt, LLC
12.2.41.1. Business Overview
12.2.41.2. Product & Service Offering
12.2.41.3. Overall Revenue
12.2.41.4. Geographic Presence
12.2.41.5. Recent Development
12.2.42. Center Drill Inc.
12.2.42.1. Business Overview
12.2.42.2. Product & Service Offering
12.2.42.3. Overall Revenue
12.2.42.4. Geographic Presence
12.2.42.5. Recent Development
12.2.43. ION Geophysical
12.2.43.1. Business Overview
12.2.43.2. Product & Service Offering
12.2.43.3. Overall Revenue
12.2.43.4. Geographic Presence
12.2.43.5. Recent Development
12.2.44. Phoenix Technology Services
12.2.44.1. Business Overview
12.2.44.2. Product & Service Offering
12.2.44.3. Overall Revenue
12.2.44.4. Geographic Presence
12.2.44.5. Recent Development
12.2.45. Kearfott Corporation
12.2.45.1. Business Overview
12.2.45.2. Product & Service Offering
12.2.45.3. Overall Revenue
12.2.45.4. Geographic Presence
12.2.45.5. Recent Development
12.2.46. Gyro Australia
12.2.46.1. Business Overview
12.2.46.2. Product & Service Offering
12.2.46.3. Overall Revenue
12.2.46.4. Geographic Presence
12.2.46.5. Recent Development
12.2.47. Motive Drilling Technologies
12.2.47.1. Business Overview
12.2.47.2. Product & Service Offering
12.2.47.3. Overall Revenue
12.2.47.4. Geographic Presence
12.2.47.5. Recent Development
12.2.48. Oliden Technology
12.2.48.1. Business Overview
12.2.48.2. Product & Service Offering
12.2.48.3. Overall Revenue
12.2.48.4. Geographic Presence
12.2.48.5. Recent Development
12.2.49. REFLEX NOW
12.2.49.1. Business Overview
12.2.49.2. Product & Service Offering
12.2.49.3. Overall Revenue
12.2.49.4. Geographic Presence
12.2.49.5. Recent Development
12.2.50. Erdos Miller
12.2.50.1. Business Overview
12.2.50.2. Product & Service Offering
12.2.50.3. Overall Revenue
12.2.50.4. Geographic Presence
12.2.50.5. Recent Development
12.2.51. DV8 Technology Ltd.
12.2.51.1. Business Overview
12.2.51.2. Product & Service Offering
12.2.51.3. Overall Revenue
12.2.51.4. Geographic Presence
12.2.51.5. Recent Development
12.2.52. Schneider Electric
12.2.52.1. Business Overview
12.2.52.2. Product & Service Offering
12.2.52.3. Overall Revenue
12.2.52.4. Geographic Presence
12.2.52.5. Recent Development
12.2.53. Siemens
12.2.53.1. Business Overview
12.2.53.2. Product & Service Offering
12.2.53.3. Overall Revenue
12.2.53.4. Geographic Presence
12.2.53.5. Recent Development
12.2.54. Emerson
12.2.54.1. Business Overview
12.2.54.2. Product & Service Offering
12.2.54.3. Overall Revenue
12.2.54.4. Geographic Presence
12.2.54.5. Recent Development
12.2.55. Sumitomo Precision Products Co
12.2.55.1. Business Overview
12.2.55.2. Product & Service Offering
12.2.55.3. Overall Revenue
12.2.55.4. Geographic Presence
12.2.55.5. Recent Development

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