Horizontal Directional Drilling Market: Size and Competition
The global horizontal directional drilling market is projected to experience steady growth with a CAGR for the forecast period, 2022-2027, according to the TechSci Research report titled “Horizontal Directional Drilling Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027, Segmented By Machine (Conventional, and Rotary Steerable System), By Type (Small, Medium, and Large), By Application (Oil and Gas, Telecommunication, Drain Pipe, Electric Transmission, and Others) and By Region”. The trenchless method of installing underground pipes, cables, and service conduits is achieved through horizontal directional drilling. The directional drilling machine and its associated machines are used to drill the bore path and back ream the required pipe with precision. This method has minimal collateral damage to subsurface ecosystems by avoiding obstacles in the bore path.
Horizontal directional drilling is a more accessible and environmentally friendly method compared to vertical directional drilling. The horizontal boring method requires minimal boreholes to be drilled and maintained, making it a preferred method. The demand for precise drilling is being driven by the launch of new generation mobile communication technologies, such as 4G, and the anticipated rollout of 5G technology. Horizontal directional drilling is ideal for densely populated areas, as it takes up little space and can be completed quickly. The construction industry's growing demand for the efficient drilling process due to the increasing population and power requirements for growing automotive is boosting the demand. While the global horizontal directional drilling market is expected to grow, fluctuating crude oil prices may hinder its growth during the forecast period.
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The global horizontal directional drilling market is segmented into machine, type, application, regional distribution, and company. The market is divided into conventional and rotary steerable system machines. The rotary steerable system machine segment is expected to account for the largest market share for the forecast period, 2022-2027, due to its ability to provide highly accurate directional control and real-time correction during drilling. The market is divided into small, medium, and large based on type, with the medium type segment expected to hold a significant market share for the next five years. The telecommunication infrastructure's growing development and the expansion of the 4G and 5G network significantly contribute to the market growth. The market is divided into oil and gas, telecommunication, drain pipe, electric transmission, and others based on application. The oil and gas industry is expected to dominate the global horizontal directional drilling market for the next five years due to the demand for boring rigs and the well-developed infrastructure of the oil and gas industry.
The leading players operating in the global horizontal directional drilling market are Baker Hughes, Halliburton Co., Nabors Industries Ltd., Schlumberger Ltd., Scientific Drilling International Inc., Weatherford International Plc, American Augers, Inc., Barbco, Inc., Creighton Rock Drill Ltd., Direct Horizontal Drilling, Inc. Manufacturers are increasingly focusing on research and development to fuel higher growth in the market.
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“High-end investments by the market players for technological advancement and accurate prediction and optimization of the rate of penetration of the bore path are significantly contributing to fuel the market growth. The growing presence of advanced technologies, including 3D visualization, 3D earth models, and automation, provides better accessibility to the underground surface, thereby ensuring precise drilling operations. The growing energy requirements around the globe and the adoption of advanced methods to boost the profitability and efficiency of the drilling process is expected to propel the global horizontal directional drilling market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Horizontal Directional Drilling Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027, Segmented By Machine (Conventional, and Rotary Steerable System), By Type (Small, Medium, and Large), By Application (Oil and Gas, Telecommunication, Drain Pipe, Electric Transmission, and Others) and By Region” has evaluated the future growth potential of global horizontal directional drilling market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global horizontal directional drilling market.
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TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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