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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