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Borehole Enlargement Systems Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: Jul 2022
  • Pages: 139
  • SKU: IRTNTR73904
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The borehole enlargement systems market share is expected to increase to USD 310.26 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.73%.

This borehole enlargement systems market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers borehole enlargement systems market segmentation by application (onshore and offshore) and geography (North America, Europe, South America, APAC, and Middle East and Africa). The borehole enlargement systems market report also offers information on several market vendors, including Atlas Copco AB, Baker Hughes Co., DRILLING TOOLS INTERNATIONAL, DRILLSTAR INDUSTRIES, EasyDrill LLC, Halliburton Co., Hole Opener Corp., NOV Inc., Oilfields Supply Center Ltd., Paradigm Group BV, Radius Service LLC, Redback Drilling Tools, Reservoir Group, Sandvik AB, Schlumberger Ltd., Schoeller Bleckmann Oilfield Equipment AG, The Industrialization and Energy Services Co.KSA, Weatherford International Plc, Wenzel Downhole Tools, and Western Drilling Tools Inc. among others.

What will the Borehole Enlargement Systems Market Size be During the Forecast Period?

Borehole Enlargement Systems Market Size

Download the Free Report Sample to Unlock the Borehole Enlargement Systems Market Size for the Forecast Period and Other Important Statistics

 

Borehole Enlargement Systems Market: Key Drivers, Trends, and Challenges

The rise in oil and natural gas demand is notably driving the borehole enlargement systems market growth, although factors such as the change in energy mix may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the borehole enlargement systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Borehole Enlargement Systems Market Driver

One of the key factors driving growth in the borehole enlargement systems market is the rise in oil and natural gas demand. There has been rapid growth in global energy demand in recent years due to robust economic growth. Almost 70% of the projected increase in global energy demand is in emerging markets and developing economies, such as India and China, where demand is set to rise to 3.4% above 2019 levels. As the demand for oil and gas is increasing, there is a need to explore and produce oil and gas from new reservoirs as the existing reservoirs have started to mature or deplete. In the last decade, global natural gas consumption has also seen a significant rise because of the increasing adoption of natural gas as a fuel. Furthermore, with the increased consumption of fuel from developing economies such as India and China, the demand for natural gas is likely to rise. Therefore, the rise in oil and gas E and P activities will increase the requirement for borehole enlargement systems.

Key Borehole Enlargement Systems Market Trend

The emergence of laser drilling technology in the oil and gas industry is a borehole enlargement systems market trend that is expected to have a positive impact in the coming years.  Mechanical drilling has been the traditional method of drilling in oil and gas production for many decades. However, penetrating the hard rocks requires applying many tons of weight to press down on the drill. As a result of this, the bits wear out quickly, which can make drilling uneconomical when it comes to the oil and gas fields capped by hard rocks. Laser drilling offers various advantages such as precision drilling, an increased rate of penetration, a single-diameter borehole, high accuracy, and a reduction in the drilling time when drilling through hard formations. The compact design will assist in mobility and save time. Therefore, laser drilling systems have the potential to revolutionize the oil and gas industry, which will positively impact the global borehole enlargement systems market.

Key Borehole Enlargement Systems Market Challenge

The change in the energy mix will be a major challenge for the borehole enlargement systems market during the forecast period. The growing economic development and global population, especially in Asian countries, have led to a rise in the demand for power. Fossil fuels have a leading position in the energy mix, but burning fossil fuels for power generation increases the volume of greenhouse gas (GHG) emissions into the atmosphere. As a result of the increase in the emissions of GHG, governments across the world have started focusing on sustainable and renewable energy resources such as wind, solar, and biomass, which will reduce GHG emissions. The result is the diversification of energy supply resources, with renewables occupying a significant share of the world energy mix. The increasing mandates on the use of renewable energy resources by governments across the world have also led to an increase in the share of renewables in the global energy mix. This will adversely affect oil and gas E and P activities, which, in turn, will limit the adoption of borehole enlargement systems.

This borehole enlargement systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global borehole enlargement systems market as a part of the global oilfield equipment and services within the global oil and gas market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the borehole enlargement systems market during the forecast period.

Who are the Major Borehole Enlargement Systems Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Atlas Copco AB
  • Baker Hughes Co.
  • DRILLING TOOLS INTERNATIONAL
  • DRILLSTAR INDUSTRIES
  • EasyDrill LLC
  • Halliburton Co.
  • Hole Opener Corp.
  • NOV Inc.
  • Oilfields Supply Center Ltd.
  • Paradigm Group BV
  • Radius Service LLC
  • Redback Drilling Tools
  • Reservoir Group
  • Sandvik AB
  • Schlumberger Ltd.
  • Schoeller Bleckmann Oilfield Equipment AG
  • The Industrialization and Energy Services Co.KSA
  • Weatherford International Plc
  • Wenzel Downhole Tools
  • Western Drilling Tools Inc.

 

This statistical study of the borehole enlargement systems market encompasses successful business strategies deployed by the key vendors. The borehole enlargement systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • atlascopco.com - The company offers a drill air drilling solution that has been designed with high pressure, dynamic flow boost, stage four compliance, and extended pressure range to enhance productivity, thus contributing to higher profitability during drilling operations.

  • atlascopco.com - Under the compressor technique segment, the company offers compressed air solutions, industrial compressors, gas and process compressors and expanders, air and gas treatment equipment, air management systems, and service through a global network.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The borehole enlargement systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Borehole Enlargement Systems Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the borehole enlargement systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Borehole Enlargement Systems Market?

Borehole Enlargement Systems Market Market segmentation by region

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28% of the market's growth will originate from South America during the forecast period. Argentina is the key market for borehole enlargement systems in South America. Market growth in this region will be faster than the growth of the market in other regions.

The increasing production of refinery products, crude oil, and natural gas will require additions to the borehole enlargement systems for various consumers. This will facilitate the borehole enlargement systems market growth in South America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic negatively impacted the growth of the market in the region. Several oil and gas projects were delayed or canceled in the region due to the pandemic. The delays in oil and gas projects negatively impacted the demand for borehole enlargement systems in 2020. Moreover, the initiation of large-scale vaccination drives led to the lifting of lockdown measures in 2021. This has resulted in the resumption of production activities, which has increased the demand for borehole enlargement systems in the region. Thus, the regional borehole enlargement systems market is expected to grow during the forecast period.

What are the Revenue-generating Application Segments in the Borehole Enlargement Systems Market?

Borehole Enlargement Systems Market Segmentation

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The borehole enlargement systems market share growth by the onshore segment will be significant during the forecast period. The key factor that drives the growth of onshore oil and gas production is its lower cost of E&P activities compared with offshore oil and gas production. Upstream oil and gas equipment companies are developing seismic survey technologies and increasing investments in R&D to improve the efficiency of surveys, which is increasing the number of oil exploration activities across the world. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the borehole enlargement systems market size and actionable market insights on post COVID-19 impact on each segment.

 

Borehole Enlargement Systems Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 3.73%

Market growth 2022-2026

$ 310.26 million

Market structure

Fragmented

YoY growth (%)

2.89

Regional analysis

North America, Europe, South America, APAC, and Middle East and Africa

Performing market contribution

South America at 28%

Key consumer countries

US, Canada, China, Russia, and Argentina

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Atlas Copco AB, Baker Hughes Co., DRILLING TOOLS INTERNATIONAL, DRILLSTAR INDUSTRIES, EasyDrill LLC, Halliburton Co., Hole Opener Corp., NOV Inc., Oilfields Supply Center Ltd., Paradigm Group BV, Radius Service LLC, Redback Drilling Tools, Reservoir Group, Sandvik AB, Schlumberger Ltd., Schoeller Bleckmann Oilfield Equipment AG, The Industrialization and Energy Services Co.KSA, Weatherford International Plc, Wenzel Downhole Tools, and Western Drilling Tools Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Borehole Enlargement Systems Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive borehole enlargement systems market growth during the next five years
  • Precise estimation of the borehole enlargement systems market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the borehole enlargement systems industry across North America, Europe, South America, APAC, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of borehole enlargement systems market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Onshore - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Onshore - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Onshore - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Onshore - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Onshore - Year-over-year growth 2021-2026 (%)
    • 5.4 Offshore - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Offshore - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Offshore - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Offshore - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Offshore - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Application
      • Exhibit 36: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 South America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.6 APAC - Market size and forecast 2021-2026
      • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Russia - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Russia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Russia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Russia - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Russia - Year-over-year growth 2021-2026 (%)
    • 7.11 Canada - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.12 Argentina - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Argentina - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Argentina - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Argentina - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Argentina - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 Atlas Copco AB
              • Exhibit 89: Atlas Copco AB - Overview
              • Exhibit 90: Atlas Copco AB - Business segments
              • Exhibit 91: Atlas Copco AB - Key news
              • Exhibit 92: Atlas Copco AB - Key offerings
              • Exhibit 93: Atlas Copco AB - Segment focus
            • 10.4 Baker Hughes Co.
              • Exhibit 94: Baker Hughes Co. - Overview
              • Exhibit 95: Baker Hughes Co. - Business segments
              • Exhibit 96: Baker Hughes Co. - Key news
              • Exhibit 97: Baker Hughes Co. - Key offerings
              • Exhibit 98: Baker Hughes Co. - Segment focus
            • 10.5 DRILLING TOOLS INTERNATIONAL
              • Exhibit 99: DRILLING TOOLS INTERNATIONAL - Overview
              • Exhibit 100: DRILLING TOOLS INTERNATIONAL - Product / Service
              • Exhibit 101: DRILLING TOOLS INTERNATIONAL - Key offerings
            • 10.6 Halliburton Co.
              • Exhibit 102: Halliburton Co. - Overview
              • Exhibit 103: Halliburton Co. - Business segments
              • Exhibit 104: Halliburton Co. - Key news
              • Exhibit 105: Halliburton Co. - Key offerings
              • Exhibit 106: Halliburton Co. - Segment focus
            • 10.7 NOV Inc.
              • Exhibit 107: NOV Inc. - Overview
              • Exhibit 108: NOV Inc. - Business segments
              • Exhibit 109: NOV Inc. - Key news
              • Exhibit 110: NOV Inc. - Key offerings
              • Exhibit 111: NOV Inc. - Segment focus
            • 10.8 Paradigm Group BV
              • Exhibit 112: Paradigm Group BV - Overview
              • Exhibit 113: Paradigm Group BV - Product / Service
              • Exhibit 114: Paradigm Group BV - Key news
              • Exhibit 115: Paradigm Group BV - Key offerings
            • 10.9 Radius Service LLC
              • Exhibit 116: Radius Service LLC - Overview
              • Exhibit 117: Radius Service LLC - Product / Service
              • Exhibit 118: Radius Service LLC - Key offerings
            • 10.10 Schlumberger Ltd.
              • Exhibit 119: Schlumberger Ltd. - Overview
              • Exhibit 120: Schlumberger Ltd. - Business segments
              • Exhibit 121: Schlumberger Ltd. - Key offerings
              • Exhibit 122: Schlumberger Ltd. - Segment focus
            • 10.11 The Industrialization and Energy Services Co.KSA
              • Exhibit 123: The Industrialization and Energy Services Co.KSA - Overview
              • Exhibit 124: The Industrialization and Energy Services Co.KSA - Product / Service
              • Exhibit 125: The Industrialization and Energy Services Co.KSA - Key offerings
            • 10.12 Weatherford International Plc
              • Exhibit 126: Weatherford International Plc - Overview
              • Exhibit 127: Weatherford International Plc - Business segments
              • Exhibit 128: Weatherford International Plc - Key news
              • Exhibit 129: Weatherford International Plc - Key offerings
              • Exhibit 130: Weatherford International Plc - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 131: Inclusions checklist
                • Exhibit 132: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 133: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 134: Research methodology
                • Exhibit 135: Validation techniques employed for market sizing
                • Exhibit 136: Information sources
              • 11.5 List of abbreviations
                • Exhibit 137: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Borehole Enlargement Systems Market market growth will increase by $310.26 mn during 2022-2026.
              The borehole enlargement systems market market is expected to grow at a CAGR of 3.73% during 2022-2026.
              Technavio has segmented the borehole enlargement systems market market by application (Onshore and Offshore) and geography (North America, Europe, South America, APAC, and Middle East and Africa).
              Atlas Copco AB, Baker Hughes Co., DRILLING TOOLS INTERNATIONAL, DRILLSTAR INDUSTRIES, EasyDrill LLC, Halliburton Co., Hole Opener Corp., NOV Inc., Oilfields Supply Center Ltd., Paradigm Group BV, Radius Service LLC, Redback Drilling Tools, Reservoir Group, Sandvik AB, Schlumberger Ltd., Schoeller Bleckmann Oilfield Equipment AG, The Industrialization and Energy Services Co.KSA, Weatherford International Plc, Wenzel Downhole Tools, Western Drilling Tools Inc. are a few of the key vendors in the borehole enlargement systems market market.
              South America will register the highest growth rate of 28% among the other regions. Therefore, the borehole enlargement systems market market in South America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the borehole enlargement systems market market growth are:
              • Rise in oil and natural gas demand
              • Emergence of laser drilling technology in oil and gas industry
              The borehole enlargement systems market market vendors should focus on grabbing business opportunities from the onshore segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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