Horizontal Directional Drilling Market Report by Technique (Conventional, Rotary Steerable System), Parts (Rigs, Pipes, Bits, Reamers), Application (On-shore, Off-shore), End User (Oil and Gas Excavation, Utility, Telecommunication), and Region 2024-2032
The global horizontal directional drilling market size reached US$ 9.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 14.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.7% during 2024-2032.
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 2024-2032. 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 2023?
2. What is the expected growth rate of the global horizontal directional drilling market during 2024-2032?
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?