North America Directional Drilling Market by Application and Technique - Forecast & Analysis 2024-2028

Published: Feb 2024

Pages: 136

SKU: IRTNTR77514

Snapshot

North America Directional Drilling Market Forecast 2024-2028

The North America directional drilling market size is forecast to increase by USD 1.99 billion, at a CAGR of 8.04% between 2023 and 2028. The market growth and forecasting report includes historic market data from 2018-2022. The market is witnessing a growing demand for the emergence of automation, the rise in deepwater and ultra-deepwater E&P activities, and the discovery of new oil and gas resources.

Market Overview :

The onshore segment is fastest fastest-growing segment during the forecast year
The onshore segment was the largest segment and valued at USD 1.97 billion in 2018
The market research and growth report also includes an in-depth analysis of the rising investments in upstream oil and gas sector, the emergence of automation, and the adoption of alternative energy sources.

For More Highlights About this Report, Download Free Sample in a Minute

Market Trends

The emergence of automation is the primary trend sharing the market. Automation is revolutionizing the oil and gas industry by improving efficiency, accuracy, and safety. With the increasing availability of advanced technologies, companies are embracing automation to optimize their operations. Moreover, one important aspect is the use of robotic systems. These systems are equipped with sensors, cameras, and artificial intelligence algorithms that allow them to make real-time adjustments during the operations.

Additionally, automated systems can detect and respond to potential hazards, such as high-pressure zones or unstable formations, in real-time, ensuring the safety of both workers and equipment. Moreover, automation has significant economic benefits. By increasing efficiency and accuracy, companies can save time and resources. In addition, automation can contribute to the optimization of parameters, such as weight on bit and rotary speed, resulting in improved drilling efficiency and reduced fuel consumption. Thus, such factors are expected to drive the market during the forecast period.

Market Largest-Growing Segments

Onshore Analysis

Onshore refers to the process of drilling wells on land. This method has gained popularity due to its cost-effectiveness and accessibility, making it an attractive option for oil and gas companies. The US is one of the countries to contribute to the onshore segment expansion. Furthermore, the cost-effectiveness of onshore, compared with offshore, is another driver of market growth.

Get a glance at the market contribution of various segments Download PDF Sample

Moreover, onshore drilling eliminates the need for expensive offshore platforms, besides the installation and maintenance of subsea equipment and the transportation of equipment and personnel by sea. This reduces the overall costs significantly, making onshore drilling more economically viable for operators, especially in regions with vast onshore reserves of oil and gas. Therefore, the abovementioned factors are expected to increase the demand in the onshore segment, which will propel the North America directional drilling market during the forecast period.

Market Dynamic

Key Drivers of the Market

The rising investments in the upstream oil and gas sector is the key factor driving the market. Energy security is becoming a critical factor in most countries owing to population growth and rapid industrialization. Therefore, many countries are exploring untapped oil and gas resources using advanced technologies. Moreover, the production of oil and natural gas from conventional oilfields is declining. To address this issue and maximize the revenue from oilfields, oil and gas operators are increasing their investments in mature oil and gas fields.

Moreover, oil and gas E&P companies are also increasing their upstream investments to boost their production. In addition, global upstream oil and gas investment increased by 9-10% in 2021. The investment also includes the addition of three new rigs. Thus, the increasing investments in the upstream oil and gas sector are likely to boost the market growth during the forecast period.

Significance Challenges of Market

The adoption of alternative energy sources is a significant challenge for the market. Factors such as the high energy demand, clean energy initiatives, and subsidies for power generation using sustainable sources promote the use of renewable energy sources such as solar and wind. Renewable energy sources are clean and inexhaustive and are becoming less carbon-intensive and more sustainable. Also, governments are undertaking several initiatives to mitigate GHG emissions.

Additionally, the consumption of renewable energy, such as solar, hydropower, and wind, has increased over the years. Many countries are using fuels such as electricity and hydrogen fuels in the transportation sector as a part of the clean energy initiatives started by governments in North America. Thus, the rising dependence on renewable energy sources will negatively impact the use of conventional fossil fuels such as oil and gas. This, in turn, will hamper offshore oil and gas activities as well as the market during the forecast period.

Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Major Market Companies

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

APA Corp.: The company offers application such as onshore, offshore, conventional, unconventional. They also offer exploration and appraisal programs.

The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.

Application Outlook
- Onshore
- Offshore

Technique Outlook
- Rotary steerable system
- Conventional methods

Market Analyst Overview:

The market is witnessing significant growth, particularly in offshore projects where traditional drilling methods face limitations. This market caters to various sectors including pipelines, petrochemical, and refinery industries, where precision is important. Horizontal directional drilling (HDD) techniques have revolutionized the industry, offering efficient solutions for navigating complex terrains. Further, the advent of mini and midi HDD machines has further expanded capabilities, enabling the completion of diverse ongoing projects and facilitating future developments. In the U.S., the market is gaining traction, supported by insights from the U.S. Energy Information Administration (EIA).

Offshore regions like the Gulf of Mexico witness extensive activities, driven by crude oil exploration and production. Regulatory frameworks established by federal administrations and industry publications such as the American Oil & Gas Reporter help monitor rig count and analyze machine type trends. Additionally, various equipment such as utility vibratory plows, pile drivers, and boring machines cater to different machine sizes and segments, serving diverse sectors including the telecommunications industry for infrastructure development and broadband services.

Besides, mini-HDD machines are pivotal for fiber cable installation projects and offer versatility with interchangeable parts type including rigs, pipes, bits, and reamers. These components ensure precision in oil & gas extraction, utility, and telecommunication applications, particularly in the offshore segment and onshore fields.

North America Directional Drilling Market Scope
Report Coverage	Details
Page number	136
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 8.04%
Market Growth 2024-2028	USD 1.99 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	7.32
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	APA Corp., Baker Hughes Co., Cathedral Energy Services, Chevron Corp., Direct Horizontal Drilling, Granite Construction Inc., Halliburton Co., Intrepid, Laney Drilling, LEAM Drilling Services, Nabors Industries Ltd., NOV Inc., RPB Industries Group, Scientific Drilling International, Stryker Directional, Terra Contracting, Texas Directional Boring, Texas Roc Contracting, Vermeer Corp., and Weatherford International Plc
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, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Download PDF Sample

What are the Key Data Covered in this Market Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the market between 2024 and 2028
Precise estimation of the market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the market across North America
A thorough analysis of the market’s competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements.

Get in touch

Table of Contents

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 Country 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 Market Segmentation by Technique
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2023

3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
- Exhibit 16: Chart on North America: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)

4 Historic Market Size

4.1 Directional drilling market in North America 2018 - 2022
- Exhibit 18: Historic Market Size – Data Table on directional drilling market in north America 2018 - 2022 ($ billion)

4.2 Application Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Application Segment 2018 - 2022 ($ billion)

4.3 Technique Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size – Technique Segment 2018 - 2022 ($ billion)

4.4 Geography Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 22: Five forces analysis - Comparison between 2023 and 2028

5.2 Bargaining power of buyers
- Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028

5.3 Bargaining power of suppliers
- Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028

5.4 Threat of new entrants
- Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028

5.5 Threat of substitutes
- Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028

5.6 Threat of rivalry
- Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028

5.7 Market condition
- Exhibit 28: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Application

6.1 Market segments
- Exhibit 29: Chart on Application - Market share 2023-2028 (%)
- Exhibit 30: Data Table on Application - Market share 2023-2028 (%)

6.2 Comparison by Application
- Exhibit 31: Chart on Comparison by Application
- Exhibit 32: Data Table on Comparison by Application

6.3 Onshore - Market size and forecast 2023-2028
- Exhibit 33: Chart on Onshore - Market size and forecast 2023-2028 ($ billion)
- Exhibit 34: Data Table on Onshore - Market size and forecast 2023-2028 ($ billion)
- Exhibit 35: Chart on Onshore - Year-over-year growth 2023-2028 (%)
- Exhibit 36: Data Table on Onshore - Year-over-year growth 2023-2028 (%)

6.4 Offshore - Market size and forecast 2023-2028
- Exhibit 37: Chart on Offshore - Market size and forecast 2023-2028 ($ billion)
- Exhibit 38: Data Table on Offshore - Market size and forecast 2023-2028 ($ billion)
- Exhibit 39: Chart on Offshore - Year-over-year growth 2023-2028 (%)
- Exhibit 40: Data Table on Offshore - Year-over-year growth 2023-2028 (%)

6.5 Market opportunity by Application
- Exhibit 41: Market opportunity by Application ($ billion)
- Exhibit 42: Data Table on Market opportunity by Application ($ billion)

7 Market Segmentation by Technique

7.1 Market segments
- Exhibit 43: Chart on Technique - Market share 2023-2028 (%)
- Exhibit 44: Data Table on Technique - Market share 2023-2028 (%)

7.2 Comparison by Technique
- Exhibit 45: Chart on Comparison by Technique
- Exhibit 46: Data Table on Comparison by Technique

7.3 Rotary steerable system - Market size and forecast 2023-2028
- Exhibit 47: Chart on Rotary steerable system - Market size and forecast 2023-2028 ($ billion)
- Exhibit 48: Data Table on Rotary steerable system - Market size and forecast 2023-2028 ($ billion)
- Exhibit 49: Chart on Rotary steerable system - Year-over-year growth 2023-2028 (%)
- Exhibit 50: Data Table on Rotary steerable system - Year-over-year growth 2023-2028 (%)

7.4 Conventional methods - Market size and forecast 2023-2028
- Exhibit 51: Chart on Conventional methods - Market size and forecast 2023-2028 ($ billion)
- Exhibit 52: Data Table on Conventional methods - Market size and forecast 2023-2028 ($ billion)
- Exhibit 53: Chart on Conventional methods - Year-over-year growth 2023-2028 (%)
- Exhibit 54: Data Table on Conventional methods - Year-over-year growth 2023-2028 (%)

7.5 Market opportunity by Technique
- Exhibit 55: Market opportunity by Technique ($ billion)
- Exhibit 56: Data Table on Market opportunity by Technique ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 57: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 58: Chart on Market share by geography - 2023-2028 (%)
- Exhibit 59: Data Table on Market share by geography - 2023-2028 (%)

9.2 Geographic comparison
- Exhibit 60: Chart on Geographic comparison
- Exhibit 61: Data Table on Geographic comparison

9.3 US - Market size and forecast 2023-2028
- Exhibit 62: Chart on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 63: Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 64: Chart on US - Year-over-year growth 2023-2028 (%)
- Exhibit 65: Data Table on US - Year-over-year growth 2023-2028 (%)

9.4 Canada - Market size and forecast 2023-2028
- Exhibit 66: Chart on Canada - Market size and forecast 2023-2028 ($ billion)
- Exhibit 67: Data Table on Canada - Market size and forecast 2023-2028 ($ billion)
- Exhibit 68: Chart on Canada - Year-over-year growth 2023-2028 (%)
- Exhibit 69: Data Table on Canada - Year-over-year growth 2023-2028 (%)

9.5 Mexico - Market size and forecast 2023-2028
- Exhibit 70: Chart on Mexico - Market size and forecast 2023-2028 ($ billion)
- Exhibit 71: Data Table on Mexico - Market size and forecast 2023-2028 ($ billion)
- Exhibit 72: Chart on Mexico - Year-over-year growth 2023-2028 (%)
- Exhibit 73: Data Table on Mexico - Year-over-year growth 2023-2028 (%)

9.6 Market opportunity by geography
- Exhibit 74: Market opportunity by geography ($ billion)
- Exhibit 75: Data Table on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 76: Impact of drivers and challenges in 2023 and 2028

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 77: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 78: Overview on factors of disruption

11.4 Industry risks
- Exhibit 79: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 80: Vendors covered

12.2 Market positioning of vendors
- Exhibit 81: Matrix on vendor position and classification

12.3 APA Corp.
- Exhibit 82: APA Corp. - Overview
- Exhibit 83: APA Corp. - Product / Service
- Exhibit 84: APA Corp. - Key offerings

12.4 Baker Hughes Co.
- Exhibit 85: Baker Hughes Co. - Overview
- Exhibit 86: Baker Hughes Co. - Business segments
- Exhibit 87: Baker Hughes Co. - Key news
- Exhibit 88: Baker Hughes Co. - Key offerings
- Exhibit 89: Baker Hughes Co. - Segment focus

12.5 Cathedral Energy Services
- Exhibit 90: Cathedral Energy Services - Overview
- Exhibit 91: Cathedral Energy Services - Business segments
- Exhibit 92: Cathedral Energy Services - Key offerings
- Exhibit 93: Cathedral Energy Services - Segment focus

12.6 Chevron Corp.
- Exhibit 94: Chevron Corp. - Overview
- Exhibit 95: Chevron Corp. - Business segments
- Exhibit 96: Chevron Corp. - Key news
- Exhibit 97: Chevron Corp. - Key offerings
- Exhibit 98: Chevron Corp. - Segment focus

12.7 Halliburton Co.
- Exhibit 99: Halliburton Co. - Overview
- Exhibit 100: Halliburton Co. - Business segments
- Exhibit 101: Halliburton Co. - Key news
- Exhibit 102: Halliburton Co. - Key offerings
- Exhibit 103: Halliburton Co. - Segment focus

12.8 Intrepid
- Exhibit 104: Intrepid - Overview
- Exhibit 105: Intrepid - Product / Service
- Exhibit 106: Intrepid - Key offerings

12.9 LEAM Drilling Services
- Exhibit 107: LEAM Drilling Services - Overview
- Exhibit 108: LEAM Drilling Services - Product / Service
- Exhibit 109: LEAM Drilling Services - Key offerings

12.10 Nabors Industries Ltd.
- Exhibit 110: Nabors Industries Ltd. - Overview
- Exhibit 111: Nabors Industries Ltd. - Business segments
- Exhibit 112: Nabors Industries Ltd. - Key news
- Exhibit 113: Nabors Industries Ltd. - Key offerings
- Exhibit 114: Nabors Industries Ltd. - Segment focus

12.11 NOV Inc.
- Exhibit 115: NOV Inc. - Overview
- Exhibit 116: NOV Inc. - Business segments
- Exhibit 117: NOV Inc. - Key news
- Exhibit 118: NOV Inc. - Key offerings
- Exhibit 119: NOV Inc. - Segment focus

12.12 RPB Industries Group
- Exhibit 120: RPB Industries Group - Overview
- Exhibit 121: RPB Industries Group - Product / Service
- Exhibit 122: RPB Industries Group - Key offerings

12.13 Scientific Drilling International
- Exhibit 123: Scientific Drilling International - Overview
- Exhibit 124: Scientific Drilling International - Product / Service
- Exhibit 125: Scientific Drilling International - Key offerings

12.14 Terra Contracting
- Exhibit 126: Terra Contracting - Overview
- Exhibit 127: Terra Contracting - Product / Service
- Exhibit 128: Terra Contracting - Key offerings

12.15 Texas Directional Boring
- Exhibit 129: Texas Directional Boring - Overview
- Exhibit 130: Texas Directional Boring - Product / Service
- Exhibit 131: Texas Directional Boring - Key offerings

12.16 Vermeer Corp.
- Exhibit 132: Vermeer Corp. - Overview
- Exhibit 133: Vermeer Corp. - Product / Service
- Exhibit 134: Vermeer Corp. - Key offerings

12.17 Weatherford International Plc
- Exhibit 135: Weatherford International Plc - Overview
- Exhibit 136: Weatherford International Plc - Business segments
- Exhibit 137: Weatherford International Plc - Key news
- Exhibit 138: Weatherford International Plc - Key offerings
- Exhibit 139: Weatherford International Plc - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 140: Inclusions checklist
- Exhibit 141: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 142: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 143: Research methodology
- Exhibit 144: Validation techniques employed for market sizing
- Exhibit 145: Information sources

13.5 List of abbreviations
- Exhibit 146: List of abbreviations

Methodology

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.

INFORMATION 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

DATA 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

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

Purchase Report

PURCHASE FULL REPORT OF

directional drilling market in north america market

Buy Report - Single User License 2500 USD

QUICK BUY

Key Questions Answered

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?

Why should you prefer Technavio's market insights report?

Off-the-shelf research reports
Reports can be tailored to meet the customer's needs
Trusted by more than 100 fortune 500 organizations
Information about the market's key drivers, trends, and challenges
Parent market analysis
Every week, 50,000 people visit our subscription platform
Detailed vendors report with competitive landscape
Covid-19 impact and recovery analysis
Data on revenue-generating market segments
Details on the market shares of various regions
Five-force market analysis