Horizontal Directional Drilling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Horizontal Directional Drilling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global horizontal directional drilling market size reached US$ 9.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.

Horizontal directional drilling (HDD) refers to a trenchless drilling process that utilizes steerable motor assemblies for digging horizontal bores. It involves the use of rigs, bites, beamers and pipes to accurately drill along the chosen bore path and install underground pipelines, electrical semiconductors, service conduits and cables. HDD aids in increasing the contact between the reservoir and the wellbore and enhancing the overall efficiency, flexibility and cost-effectiveness. HDD can also be conducted with minimal requirements while causing negligible soil contamination or damage to the landscape. As a result, it finds extensive application across various industries, such as telecommunication, oil and gas, power and utilities.

Horizontal Directional Drilling Market Trends:
A significant increase in the onshore and offshore oil and gas exploration activities is one of the key factors driving the growth of the market. HDD is widely used for hydraulic fracturing to increase the production of oil and natural gas from thin oil zones. Additionally, the widespread product adoption for surveying, designing and construction of underground cables for the installation of underground electrical telecommunication systems is favoring the market growth. Moreover, various technological advancements, such as the utilization of automated HDD systems, are providing a thrust to the market growth. These solutions utilize computer software to plan and guide drilling tools with enhanced accuracy and minimal data-to-surface delays. In line with this, the increasing preference for HDD due to the rising environmental concerns among the masses is also contributing to the growth of the market. HDD causes minimal disturbance to the surrounding environment and maintains the condition of the drilled area. Other factors, including the implementation of various government initiatives promoting sustainable oil and gas exploration, along with the rising demand for energy, especially in developing economies, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global horizontal directional drilling market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on 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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Weatherford International plc.

Key Questions Answered in This Report
1. What was the size of the global horizontal directional drilling market in 2022?
2. What is the expected growth rate of the global horizontal directional drilling market during 2023-2028?
3. What are the key factors driving the global horizontal directional drilling market?
4. What has been the impact of COVID-19 on the global horizontal directional drilling market?
5. What is the breakup of the global horizontal directional drilling market based on the technique?
6. What is the breakup of the global horizontal directional drilling market based on the application?
7. What is the breakup of the global horizontal directional drilling market based on the end user?
8. What are the key regions in the global horizontal directional drilling market?
9. Who are the key players/companies in the global horizontal directional drilling market?


1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Horizontal Directional Drilling Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Technique
6.1 Conventional
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Rotary Steerable System
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Parts
7.1 Rigs
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Pipes
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Bits
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Reamers
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Application
8.1 On-shore
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Off-shore
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by End User
9.1 Oil and Gas Excavation
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Utility
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Telecommunication
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Baker Hughes Company
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.1.4 SWOT Analysis
15.3.2 Barbco Inc.
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 China Oilfield Services Limited (China National Offshore Oil Corporation)
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Financials
15.3.4 Ellingson Companies
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.5 Halliburton Company
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 Helmerich & Payne Inc.
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.6.4 SWOT Analysis
15.3.7 Herrenknecht AG
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.8 Nabors Industries Ltd.
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.8.4 SWOT Analysis
15.3.9 NOV Inc.
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 Schlumberger Limited
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 Financials
15.3.10.4 SWOT Analysis
15.3.11 The Toro Company
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 Financials
15.3.11.4 SWOT Analysis
15.3.12 Vermeer Corporation
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
15.3.13 Weatherford International plc
15.3.13.1 Company Overview
15.3.13.2 Product Portfolio

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