Stratview Research, a global market intelligence firm, has launched a new research report on Directional Drilling Services Market by Application Type (Onshore Applications, Offshore Applications), by Drilling Technique Type (Conventional Methods, Rotary Steerable System), by Service Type (LWD, MWD & Survey, RSS, and Motors), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the analysis, the directional drilling services market was valued at USD 8.5 billion in 2021 and is likely to grow at a CAGR of 5.31% during 2022-2028 to reach USD 12.28 billion in 2028.
What is directional drilling?
Directional drilling is a drilling technique that involves controlling the direction and deviation of a wellbore to a targeted location. Directional drilling allows the drilling of multiple wells from a single site and provides access to such oil and gas-producing zones which can’t be reached with normal vertical-drilling practices.
Companies profiled -
Below given is the list of key players mentioned in the report -
- Baker Hughes, a GE Company LLC
- Halliburton Company
- National Oilwell Varco, Inc.
- Schlumberger Limited
- Weatherford International PLC.
Market Drivers
The growth of the directional drilling services market is primarily driven by:
- The increase in demand for drilling multiple wells from single sites,
- The mounting production levels through directional drilling.
About Stratview Research-
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