Some of the key findings from our oilfield air drilling market forecast report are summarized below
See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from this report.
Global Oilfield Air Drilling Industry Overview
Recovering crude oil prices are increasing oil and gas exploration & production (E&P) activities. As a result, the need for oil and gas drilling rigs is rising, which, in turn, is increasing the requirement for drilling activities. The advent of air drilling techniques and their benefits have prompted oilfield drilling companies to adopt them. Air drilling ensures economical and safe oil well drilling operations. Owing to reduced operational cost and enhanced oil and gas production offered by air drilling techniques, oil and gas companies and drilling service providers prefer deploying them. Therefore, increasing the active rig count will augment the use of air drilling techniques, which will drive the oilfield air drilling market growth during the forecast period.
Rising concern about safety while manually handling rig equipment has increased the need for automating E&P operations. Rig automation allows remote monitoring and operations, increasing safety. Moreover, automated rigs can enhance the efficiency of oil and gas drilling operations with the help of analytical data. Also, integrating air drilling techniques, which are already efficient, with automated drilling rigs will further increase productivity and profits. Therefore, automation in drilling rigs is one of the key oilfield air drilling market trends. The trend is expected to contribute to the growth of the market at a CAGR of almost 6% during the forecast period.
Top Oilfield Air Drilling Companies Covered in this Market Research Report
The global oilfield air drilling market is fragmented. To help clients improve their market positions, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this oilfield air drilling market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.
The report offers a detailed analysis of several leading oilfield air drilling manufacturers, including:
- Air Drilling Associates, Inc.
- Archer Ltd.
- Halliburton Co.
- Schlumberger Ltd.
- Weatherford International Plc.
Oilfield Air Drilling Market Segmentation Based on Type
- Dust
- Aerated fluid
- Foam
- Mist
- Nitrogen membrane
The dust segment held the largest market share in 2018. It will account for the highest global oilfield air drilling market share over the forecast period. High drilling penetration rate, reduced drilling time, and low operational cost are expected to boost the demand for dust oilfield air drilling during the forthcoming years. This report provides an accurate prediction of the contribution of all the segments to the growth of the oilfield air drilling market size.
Oilfield Air Drilling Market Segmentation Based on Geographic Region
- APAC
- Europe
- MEA
- North America
- South America
With a complete study of the growth opportunities for the companies, it has been identified that North America will account for the highest share of the oilfield air drilling market throughout the forecast period. Factors such as increasing oil and gas production output, rising unconventional E&P activities, and growing investments and government initiatives, for oil and gas drilling activities, are contributing to the oilfield air drilling market growth in this region.
Key Highlights of the Global Oilfield Air Drilling Market for the Forecast Years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the oilfield air drilling market during the next five years
- Precise estimation of the global oilfield air drilling market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the oilfield air drilling industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of oilfield air drilling companies
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch