Global Horizontal Directional Drilling Market 2022-2026

Global Horizontal Directional Drilling Market 2022-2026

Technavio has been monitoring the horizontal directional drilling market and it is poised to grow by $ 3.28 bn during 2022-2026, progressing at a CAGR of 7.96% during the forecast period. Our report on the horizontal directional drilling market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by rising unconventional drilling activities, growing consumption of oil and gas, and drilling activities in remote areas. In addition, rising unconventional drilling activities is anticipated to boost the growth of the market as well.

The horizontal directional drilling market analysis includes the application segment and geographic landscape.

Technavio's horizontal directional drilling market is segmented as below:

By Application

• Onshore
• Offshore

By Geographical Landscape

• North America
• APAC
• Europe
• Middle East and Africa
• South America

This study identifies the automation in horizontal directional drilling technique as one of the prime reasons driving the horizontal directional drilling market growth during the next few years. Also, innovations in rotary steerable systems and increase in production efficiency of oilfields using big data analytics will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on horizontal directional drilling market covers the following areas:

• Horizontal directional drilling market sizing
• Horizontal directional drilling market forecast
• Horizontal directional drilling market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading horizontal directional drilling market vendors that include APS Technology Inc., Baker Hughes Co., Barbco Inc., China Oilfield Services Ltd., Cathedral Energy Services Ltd., Compass Directional Services Ltd., Halliburton Co., Helmerich and Payne Inc., Huisman Equipment BV, Koltek LLC, Millennium Directional Service Ltd., MS Directional, Nabors Industries Ltd., National Energy Services Reunited Corp., NOV Inc., PHX Energy Services Corp., Precision HDD LLC, Schlumberger Ltd., Scientific Drilling International, and Weatherford International Plc. Also, the horizontal directional drilling market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.