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Rotary Steerable Systems Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: Jul 2022
  • Pages: 137
  • SKU: IRTNTR41544
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The rotary steerable systems market share is expected to increase to USD 2.92 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.69%.

This rotary steerable 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 rotary steerable systems market segmentation by application (onshore and offshore) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The rotary steerable systems market report also offers information on several market vendors, including APS Technology Inc., Baker Hughes Co., Compass Directional Guidance Inc., D Tech Rotary Steerable, DoubleBarrel RSS, Enteq Upstream Plc, Gyrodata Inc., Halliburton Co., Huisman Equipment BV, HXR Drilling Services, INCO DRILLING BV, LEAM Drilling Services, NOV Inc., Schlumberger Ltd., Scientific Drilling International, Turbo Drill Industries Inc., and Weatherford International Plc among others.

What will the Rotary Steerable Systems Market Size be During the Forecast Period?

Rotary Steerable Systems Market Size

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Rotary Steerable Systems Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increase in investments toward directional drilling is notably driving the rotary steerable systems market growth, although factors such as volatility of global crude oil prices 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 rotary steerable systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Rotary Steerable Systems Market Driver

  • The increase in investments toward directional drilling is one of the key drivers supporting the rotary steerable systems market growth.
  • Directional drilling helps control the direction of the wellbore being drilled as the drill bit moves through a predetermined path underground.
  • Directional drilling is mainly adopted for offshore and unconventional oil and gas production as they support oil and gas production from multiple underlying wells from a single vertical well and reduce the need for drilling multiple wells.
  • Directional drilling is an unconventional drilling technique widely used for the production of oil and gas from unconventional reserves. Moreover, it helps reach the shale reservoir with a horizontal path to cover maximum contact with the reservoir.
  • According to the IEA, the global investment in upstream oil and gas is expected to increase by around 5% in 2018 compared to 2017. However, the increase in upstream investments varies based on the upstream oil and gas companies. This, in turn, will drive market growth during the forecast period.

Key Rotary Steerable Systems Market Trend

  • An increase in the adoption of integrated rotary steerable systems is one of the key rotary steerable systems market trends contributing to the market growth.
  • The use of an integrated rotary steerable system is essential to increase the stability of wells drilled in multistage hydraulic fracturing.
  • An integrated drilling system provides a customized, high-performance, and high-velocity drilling motor that can be remotely navigated through the reservoir by integrating the rotary steerable system with measurement-while-drilling equipment, which provides various types of data required for effective steering through the underground reservoir.
  • There is an increase in the adoption of integrated directional drilling equipment for unconventional oil and gas drilling activities, which will provide more efficient and reliable equipment for oil and gas production. Thus, this factor is expected to contribute to the market growth during the forecast period.

Key Rotary Steerable Systems Market Challenge

  • The volatility of global crude oil prices is one of the factors hampering the rotary steerable systems market growth.
  • The rapid decline in crude oil prices has affected the profitability of many upstream companies and impacted the revenue generated by them.
  • Several oil and gas companies stopped or postponed their exploration and production projects as the low revenue made it difficult for companies to sustain themselves in the market.
  • The fluctuations in the prices can be seen on a monthly basis as well. For instance, the monthly average crude oil price was recorded at $57 per barrel in October 2019. In September and August 2019, the average crude oil prices were recorded at $60.0 and $57.7 per barrel, respectively.
  • The uncertainty of crude oil prices may affect the investments in exploration and production projects, which would affect the growth of the global rotary steerable systems market during the forecast period.

This rotary steerable 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 rotary steerable 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 rotary steerable systems market during the forecast period.

Who are the Major Rotary Steerable Systems Market Vendors?

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

 

  • APS Technology Inc.
  • Baker Hughes Co.
  • Compass Directional Guidance Inc.
  • D Tech Rotary Steerable
  • DoubleBarrel RSS
  • Enteq Upstream Plc
  • Gyrodata Inc.
  • Halliburton Co.
  • Huisman Equipment BV
  • HXR Drilling Services
  • INCO DRILLING BV
  • LEAM Drilling Services
  • NOV Inc.
  • Schlumberger Ltd.
  • Scientific Drilling International
  • Turbo Drill Industries Inc.
  • Weatherford International Plc

 

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

Product Insights and News

  • APS Technology Inc. - The logging while driving segment includes SureLog Ipzig, SureLog WPR, and others. 
  • APS Technology Inc. - The company offers rotary steerable systems named SureSteer Rotary Steerable Motor, which combines a rotary steerable steering unit with a drilling motor power section. 

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 rotary steerable 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.

Rotary Steerable Systems Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the rotary steerable 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 Rotary Steerable Systems Market?

Rotary Steerable Systems Market Market segmentation by region

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50% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the rotary steerable systems market in North America. Market growth in this region will be faster than the growth of the market in other regions.

Recovery in crude oil prices and the significant growth in shale oil production in the US will facilitate the rotary steerable systems market growth in North 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 outbreak of COVID-19 had a negative impact on the rotary steerable systems market in North America. However, the reducing number of COVID-19 cases and lifting of lockdowns due to large vaccination drives will increase the mass movement and transportation, thereby increasing the demand for crude oil. This will help E&P companies to recover and increase investment in oil and gas projects. These factors are expected to drive the regional market during the forecast period.

What are the Revenue-generating Application Segments in the Rotary Steerable Systems Market?

Rotary Steerable Systems Market Segmentation

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The rotary steerable systems market share growth by the onshore segment will be significant during the forecast period. Drilling automation is rapidly finding applications in onshore oil and gas projects. Onshore and offshore drilling machines are similar in function and require the installation of additional equipment, such as exploratory equipment and separators, to segregate wastewater from oil pumps, storage tanks, and pipelines. However, onshore drilling involves the setting up of oil rigs and the drilling of oil wells on land surfaces. These projects require a lower initial cost and lesser time compared with offshore drilling. Such factors will boost the market growth during the forecast period.

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

 

Rotary Steerable Systems Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.69%

Market growth 2022-2026

$ 2.92 billion

Market structure

Fragmented

YoY growth (%)

6.82

Regional analysis

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

Performing market contribution

North America at 50%

Key consumer countries

US, Canada, Oman, China, Russia, and Argentina

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

APS Technology Inc., Baker Hughes Co., Compass Directional Guidance Inc., D Tech Rotary Steerable, DoubleBarrel RSS, Enteq Upstream Plc, Gyrodata Inc., Halliburton Co., Huisman Equipment BV, HXR Drilling Services, INCO DRILLING BV, LEAM Drilling Services, NOV Inc., Schlumberger Ltd., Scientific Drilling International, Turbo Drill Industries Inc., 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, Market condition analysis for forecast period

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What are the Key Data Covered in this Rotary Steerable Systems Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive rotary steerable systems market growth during the next five years
  • Precise estimation of the rotary steerable systems market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the rotary steerable systems industry across North America, Europe, APAC, Middle East and Africa, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of rotary steerable 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 APAC - Market size and forecast 2021-2026
      • Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - 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 Oman - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Oman - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Oman - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Oman - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Oman - Year-over-year growth 2021-2026 (%)
    • 7.14 Market opportunity by geography
      • Exhibit 86: 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 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 APS Technology Inc.
              • Exhibit 93: APS Technology Inc. - Overview
              • Exhibit 94: APS Technology Inc. - Product / Service
              • Exhibit 95: APS Technology Inc. - Key offerings
            • 10.4 Baker Hughes Co.
              • Exhibit 96: Baker Hughes Co. - Overview
              • Exhibit 97: Baker Hughes Co. - Business segments
              • Exhibit 98: Baker Hughes Co. - Key news
              • Exhibit 99: Baker Hughes Co. - Key offerings
              • Exhibit 100: Baker Hughes Co. - Segment focus
            • 10.5 D Tech Rotary Steerable
              • Exhibit 101: D Tech Rotary Steerable - Overview
              • Exhibit 102: D Tech Rotary Steerable - Product / Service
              • Exhibit 103: D Tech Rotary Steerable - Key offerings
            • 10.6 DoubleBarrel RSS
              • Exhibit 104: DoubleBarrel RSS - Overview
              • Exhibit 105: DoubleBarrel RSS - Business segments
              • Exhibit 106: DoubleBarrel RSS - Key offerings
              • Exhibit 107: DoubleBarrel RSS - Segment focus
            • 10.7 Halliburton Co.
              • Exhibit 108: Halliburton Co. - Overview
              • Exhibit 109: Halliburton Co. - Business segments
              • Exhibit 110: Halliburton Co. - Key news
              • Exhibit 111: Halliburton Co. - Key offerings
              • Exhibit 112: Halliburton Co. - Segment focus
            • 10.8 Huisman Equipment BV
              • Exhibit 113: Huisman Equipment BV - Overview
              • Exhibit 114: Huisman Equipment BV - Product / Service
              • Exhibit 115: Huisman Equipment BV - Key offerings
            • 10.9 NOV Inc.
              • Exhibit 116: NOV Inc. - Overview
              • Exhibit 117: NOV Inc. - Business segments
              • Exhibit 118: NOV Inc. - Key news
              • Exhibit 119: NOV Inc. - Key offerings
              • Exhibit 120: NOV Inc. - Segment focus
            • 10.10 Schlumberger Ltd.
              • Exhibit 121: Schlumberger Ltd. - Overview
              • Exhibit 122: Schlumberger Ltd. - Business segments
              • Exhibit 123: Schlumberger Ltd. - Key offerings
              • Exhibit 124: Schlumberger Ltd. - Segment focus
            • 10.11 Scientific Drilling International
              • Exhibit 125: Scientific Drilling International - Overview
              • Exhibit 126: Scientific Drilling International - Product / Service
              • Exhibit 127: Scientific Drilling International - Key offerings
            • 10.12 Weatherford International Plc
              • Exhibit 128: Weatherford International Plc - Overview
              • Exhibit 129: Weatherford International Plc - Business segments
              • Exhibit 130: Weatherford International Plc - Key news
              • Exhibit 131: Weatherford International Plc - Key offerings
              • Exhibit 132: Weatherford International Plc - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 133: Inclusions checklist
                • Exhibit 134: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 135: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 136: Research methodology
                • Exhibit 137: Validation techniques employed for market sizing
                • Exhibit 138: Information sources
              • 11.5 List of abbreviations
                • Exhibit 139: 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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              Rotary Steerable Systems Market market growth will increase by $2.92 bn during 2022-2026.
              The rotary steerable systems market market is expected to grow at a CAGR of 7.69% during 2022-2026.
              Technavio has segmented the rotary steerable systems market market by application (Onshore and Offshore) ,geography (North America, Europe, APAC, Middle East and Africa, and South America) , and geographic (North America, Europe, APAC, and South America).
              APS Technology Inc., Baker Hughes Co., Compass Directional Guidance Inc., D Tech Rotary Steerable, DoubleBarrel RSS, Enteq Upstream Plc, Gyrodata Inc., Halliburton Co., Huisman Equipment BV, HXR Drilling Services, INCO DRILLING BV, LEAM Drilling Services, NOV Inc., Schlumberger Ltd., Scientific Drilling International, Turbo Drill Industries Inc., Weatherford International Plc are a few of the key vendors in the rotary steerable systems market market.
              North America will register the highest growth rate of 50% among the other regions. Therefore, the rotary steerable systems market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the rotary steerable systems market market growth are:
              • Increase in investments toward directional drilling
              • Increase in adoption of integrated rotary steerable systems
              The rotary steerable 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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