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Growth of Rotary Steerable Systems Market to Be Impacted by the Increase in Investments Toward Directional Drilling | TechnavioThe report, global rotary steerable systems (RSS) market 2020-2024, has been added to Technavio's catalog. It provides a comprehensive analysis of the market, including its global and regional market share, as well as market segmentation based on geographic regions and application for the forecast period 2020-2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200319005230/en/ Technavio has published a latest market research report titled Global Rotary Steerable Systems Market 2020-2024 (Graphic: Business Wire) To learn more about the global trends impacting the future of market research: Download Free Sample Report The report on the rotary steerable systems market includes: Rotary Steerable Systems Market Analysis and Forecast 2020-2024: Features
Rotary Steerable Systems Market 2020-2024: Competitive Landscape
Rotary Steerable Systems Market Application Outlook (Revenue, USD Million, 2020-2024)
Technavio's SUBSCRIPTION platform Increase in investments toward directional drilling will drive the rotary steerable systems market Directional drilling is an unconventional drilling technique which includes extended-reach wells, multilateral wells, and horizontal wells. This drilling technique helps in controlling the direction of the wellbore being drilled. The offshore and unconventional oil and gas production activities are carried out using directional drilling because they minimize the need to drill multiple wells. The production of oil and gas from unconventional reserves is increasing in countries such as Saudi Arabia, Canada, and the US due to the rise in investments and adoption of directional drilling technologies Growing consumption of oil and gas - An emerging trend in the rotary steerable systems market The global liquid fuel consumption is increasing due to the rise in industrialization and urbanization in developing countries, according to the EIA. Also, the consumption is expected to grow from 120 trillion cubic feet (Tcf) in 2012 to 203 Tcf in 2040. Some of the largest consumers of fuel in the world include Japan, South Korea, China, and India. This is propelling major oil and gas companies to meet this rise in fuel demand by increasing oil and gas exploration and production projects. As a result, several companies such as Lukoil, Shell, ExxonMobil, and TOTAL are expanding their exploration and production activities. Therefore, with the growth of directional drilling activities, the demand for rotary steerable systems will increase further over the forecast period. Other Key Topics Covered in the Report are: MARKET LANDSCAPE
MARKET SIZING
Get Full Report: https://www.technavio.com/report/rotary-steerable-systems-market-industry-analysis CUSTOMER LANDSCAPE DECISION FRAMEWORK DRIVERS AND CHALLENGES
MARKET TRENDS
Technavio also offers custom research services providing focused, comprehensive, and tailored research. To learn more about the global trends impacting the future of market research: Download Free Sample Report Related Reports on Energy include: Oilfield Rotary Table Market - Global Oilfield Rotary Table Market by application (onshore and offshore) and geography (APAC, Europe, MEA, North America, and South America). About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. View source version on businesswire.com: https://www.businesswire.com/news/home/20200319005230/en/ |