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Home>Global Directional Drilling Market - Forecast to Grow at a CAGR of 4.8% by 2021 - Research and Markets

Global Directional Drilling Market - Forecast to Grow at a CAGR of 4.8% by 2021 - Research and Markets

Global Directional Drilling Market - Forecast to Grow at a CAGR of 4.8% by 2021 - Research and Markets

10/05/2017

Global Directional Drilling Market - Forecast to Grow at a CAGR of 4.8% by 2021 - Research and Markets

The "Global Directional Drilling Market 2017-2021" report has been added to Research and Markets' offering.

The report forecasts the global directional drilling market to grow at a CAGR of 4.88% during the period 2017-2021.

The report, Global Directional Drilling Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.

The latest trend gaining momentum in the market is technological innovations. The exploration and production of oil and gas are rising in the offshore region. Drilling operations are expanding in deep and ultra-deepwater exploration where the environmental conditions are more challenging. Thus, it becomes crucial to use technology that aids in reaching the target zones and the scope for human error is reduced. For instance, the deployment of motive directional drilling guidance system in oil and gas exploration has pioneered the use of cognitive computing that guides directional drilling process.

According to the report, one of the major drivers for this market is the rise in the development of unconventional oil and gas resources. Unconventional oil and gas resources such as shale oil, tight oil, and coal bed methane are not only costly to produce but are also difficult to recover. Operational efficiencies and technological advances have made unconventional resource exploitation feasible and more profitable. Shale gas boom in the US saw the rise in unconventionally produced natural gas supply. Huge discovery of oil sands in Canada has created a wealth of opportunity for oil production. As the world energy focus shifts toward natural gas and heavy oil, unconventional sources such as shale have seen growth.

Key vendors

  • Baker Hughes
  • Halliburton
  • Schlumberger
  • Weatherford

Key Topics Covered:

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