The global Directional Drilling Services Market size was valued at USD 9.9 Billion in 2022 and is projected to reach USD 13.5 Billion by 2030, also is growing at a CAGR of 3.3% during the forecast period 2022 to 2030.

Directional Drilling Service Market Overview:

Growing demand for various tools and equipment used in the global oil and gas industry and increasing discovery of new bulk potential reservoirs are expected to propel the market demand. To meet the exponentially growing demand, various companies are concentrating their investments in exploration and production activities.
Directional drilling services include how to efficiently drill a well and maximize yield through lateral production through the well. The technology offers numerous benefits, including flexibility, minimal site restoration, low soil contamination, low risk of geologic anomalies, and faster installation at a lower cost, which bodes well for the market. Reduction in maintenance and operational rig downtime through directional drilling will consequently increase demand and propel the directional drilling services market growth. The increase in E&P activity at multiple locations, combined with the adaptability of advanced technology to drill multiple wells at a single location to deliver maximum output with minimal downtime, propels the industry and increases the need for directional drilling services.

Directional Drilling Service market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Directional Drilling Service market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.

Significant Directional Drilling Service Market Dynamics and Growth Factors:

The offshore segment of oilfield services is projected to be the fastest-growing segment over the forecast period owing to increasing investments in offshore oil and gas assets. Various oilfield service providers are making significant investments in their offshore assets to increase productivity, reservoir performance and the overall lifecycle of their wells. Major upstream countries such as the United States, China, Russia and Norway are primarily focusing on identifying new reservoirs and enhancing recovery in existing wells, which is driving demand for oilfield services including drilling, completion and retrofit services worldwide.

Industry News

• In November 2016, GE oil & gas will open a new facility in Egypt, in collaboration with General Authority for Investment and Free Zones (GAFI) (Egypt). This facility will disassembly, assembly, repair, and provide maintenance & testing for GE Oil & Gas products. This facility will be operational by mid-2017. 
• In October 2016, National Oilwell Varco, is developing its closed loop automation system. This system uses intelligent controls to develop its technology. This system is a combination of drilling systems, software application of eVolve™ Optimization Service, NOV Operating System (NOVOS™) and control systems. This system will enhance the operators drilling operations.  
• In September 2016, Halliburton Company released new drilling motors GeoForce® Endure™ and StrataForce™ Endure™ motors, these motors reduce non-productive time associated with chunking, and enhances the motors reliability in harsh environments.

The Directional Drilling Service market research report is categorized based on type, applications and region.

Market Key Players:
Baker Hughes Incorporated (US), Halliburton Company (US), Schlumberger Limited (US), Weatherford International, PLC (Switzerland), National Oilwell Varco, Inc. (US), Nabors Industries, Ltd. (Bermuda), Cathedral Energy Services Ltd. (Canada), Jindal Drilling & Industries Limited (India), Gyrodata Incorporated (US), Scientific Drilling International (US), Leam Drilling Systems, LLC.(US), and others.

By Type:

• Conventional
• Rotary Steerable System

By Application:

• Onshore
• Offshore

By Service:

• Rotary Steerable System (RSS)
• Logging-While-Drilling(LWD)
• Measurement-While-Drilling (MWD) & Survey
• Motors (MUD Motors)

By Region:

Geographically, the global Directional Drilling Service market has been analysed in various regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA).

North America is estimated to hold a larger market share due to vast potential in oil and gas industry discoveries and oil field exploration. In April 2019, Shell discovered a Gulf of Mexico blacktip oil field capable of producing approximately 900,000 barrels per day (BPD) from its deepwater assets. In addition, state-owned company Petroleos Mexicanos (PEMEX) has discovered deposits capable of producing 500 million barrels of crude oil in southeastern Mexico. It was planned to extract 69,000 BPD from the field by 2020 and reach 110,000 BPD by 2021.

Asia Pacific is expected to account for the second largest market, owing to advances in drilling technologies such as long-distance horizontal wells and completion technologies that include multi-stage hydraulic fracturing. Also, National Oil Companies (NOCs) are investing in offshore E&P activities to increase domestic production, which is stimulating the market. Additionally, many countries in Asia Pacific are increasing capital expenditures (CAPEX) to secure future energy needs. Europe is expected to grow due to continued investments in the maritime region. Major European countries are making significant investments in the exploration of new offshore hydrocarbon reserves to increase domestic production. Norway and the UK hold significant market shares due to increased exploration on the Norwegian continental shelf.

Middle East and Africa (MEA) companies are paying keen attention to expanding their maritime activities to meet their production targets. Mainly Qatar, Saudi Arabia and the United Arab Emirates are increasing their fleet numbers. For example, ANDOC recently announced a major rig equipment expansion to support the company's upstream growth plans and deliver on its 2030 smart growth strategy. Latin America is focusing on increasing deep-sea and ultra-deep-sea exploration to produce significant amounts of oil and gas. Brazil is expected to dominate the regional market due to increased investment in offshore exploration. Hence, growing exploration projects and significant investments in oil fields fuel the demand for the market during the forecast period.

Further the regions are divided as follows

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Belgium
  • The Netherlands
  • Luxembourg
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia-Pacific
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Directional Drilling Service Market report scope

Report Attributes	Details
Growth Rate	CAGR of 3.3% from 2022 to 2030.
By Type	Conventional, Rotary Steerable System
By Application	Onshore, Offshore
By Companies	Baker Hughes Incorporated (US), Halliburton Company (US), Schlumberger Limited (US), Weatherford International, PLC (Switzerland), National Oilwell Varco, Inc. (US), Nabors Industries, Ltd. (Bermuda), Cathedral Energy Services Ltd. (Canada), Jindal Drilling & Industries Limited (India), Gyrodata Incorporated (US), Scientific Drilling International (US), Leam Drilling Systems, LLC.(US)
Regions and Countries Covered	North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World
Base Year	2022
Historical Year	2017 to 2022
Forecast Year	2023 to 2030

Key Takeaways from this Directional Drilling Service Report

• Estimate Directional Drilling Service market potential through analysing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Directional Drilling Service market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions

At what CAGR is the Directional Drilling Service market projected to grow in the forecast period 2022 to 2030?

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