New Study from StrategyR Highlights a $11.7 Billion Global Market for Directional Drilling Services by 2026
SAN FRANCISCO , June 27, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Directional Drilling Services - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
What's New for 2022?
Edition: 6; Released: January 2022
Executive Pool: 1441
Companies: 46 - Players covered include Baker Hughes, a GE company; Cathedral Energy Services Ltd; GE Oil & Gas; Gyrodata Inc.; Halliburton; Jindal Drilling & Industries Limited; LEAM Drilling Services; Nabors Industries Ltd.; National Oilwell Varco, Inc.; Schlumberger Ltd.; Scientific Drilling International; Weatherford International Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Application (Onshore, Offshore); Type (Conventional, Rotary Steerable System)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Directional Drilling Services Market to Reach $11.7 Billion by 2026
Amid the COVID-19 crisis, the global market for Directional Drilling Services estimated at US$9.2 Billion, is projected to reach a revised size of US$11.7 Billion by 2026, growing at a CAGR of 4.1% over the analysis period. Onshore, one of the segments analyzed in the report, is projected to record a 4.6% CAGR and reach US$8.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Offshore segment is readjusted to a revised 2.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.8 Billion in 2021, While China is Forecast to Reach $2.1 Billion by 2026
The Directional Drilling Services market in the U.S. is estimated at US$2.8 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.1 Billion by the year 2026 trailing a CAGR of 3.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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SOURCE Global Industry Analysts, Inc.