Pune, 15, Dec, 2022: The report analysed by Maximize Market Research, the global engineering equipment market research firm. Horizontal Directional Drilling Market covers an extensive competitive, pricing and demand analysis in the report. The North American region is expected to witness significant growth according to the report. During the Forecast period, the report expects the market to grow from USD 8.65 Billion in 2021 to USD 14.25 Billion in 2029 at a CAGR of 7.39 percent.
Horizontal Directional Drilling Market Scope and Research Methodology
The report on Horizontal Directional Drilling Market is segmented by Technique, Parts, Application, End-User and Region, with a focus on major firms such as market leaders, followers, and new entrants. The report is an investor guide that provides a comprehensive picture of the competitive landscape of leading players in the Horizontal Directional Drilling Market by goods and services, revenue, financial status, portfolio, growth strategies, and geographical presence.
Regional analysis of the market is conducted at local, regional and global levels for a better understanding of the market penetration, competitive structure, pricing and demand analysis. The report also covers the strategies followed by key players and gives their analysis on the basis of their growth in the last five years in the industry which helps investors and major companies decide their investments and make data-driven decisions.
The report is a detailed analysis of the Horizontal Directional Drilling Market by country, regional and global presence. By collecting historical data pertaining to the industry, current and future trends in the Horizontal Directional Drilling Market are presented in the report along with growth rate and market size forecasts.
The competitive analysis of the Horizontal Directional Drilling Market provides details of the goods and services, the company’s target market, the changes in consumer patterns over the forecast period and pricing comparison. Key players by region are profiled from a strategic perspective in the report. Several parameters such as price, services offered, target audience, design of the product and quality are assessed. Major manufacturers in the industry and listed by region, revenue, financial status, portfolio, technological advancements adopted, mergers and acquisitions, joint venture and strategic alliances in detail. New entrants in the market are also listed with an analysis of their growth prospects and future business outlook. Such analysis acts as a guide for stakeholders, investors, market players and followers and new entrants with precise market estimations of the Horizontal Directional Drilling Market for formulating investment approaches and marketing tactics.
Data for analysis is collected by both primary and secondary research methods. Surveys, administering questionnaires offline and online, and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, company records, releases of product manufacturers and suppliers in the industry along with paid databases. SWOT, PESTLE and Porter’s Five Force analysis are used as qualitative tools for the analysis of the market. The report thus provides a comprehensive analysis of the Horizontal Directional Drilling Market with market gaps and investment recommendations.
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Horizontal Directional Drilling Market Overview
Horizontal Directional Drilling is a steerable process of installing underground pipelines by making shallow arcs along a bore path. This is done by using a surface-launched drilling rig that causes a lower impact on the area around. It is commonly used in pipeline constructions which has been a significant improvement against the traditional methods. The key difference between this drilling compared to the rest is the drilling rig that has an inclined ramp compared to the general vertical mast.
Horizontal Directional Drilling Market Dynamics
The growth in the oil and gas industry is the major driving propelling the growth of the Horizontal Directional Drilling Market. A steep rise in offshore and onshore oil and gas explorations increased demand for drilling. Hydraulic fracturing is used heavily along with Horizontal Directional Drilling which significantly increased the demand for Horizontal Directional Drilling Market.
Technological advancements also encouraged the growth of the Horizontal Directional Drilling Market. Environmentally safe ways of drilling were introduced compared to the traditional methods. Such developments are expected to fuel growth over the forecast period. Increased demand from developing countries given their increasing demand for oil, rapid urbanisation and growing construction industry are expected to significantly influence the Horizontal Directional Drilling Market.
Horizontal Directional Drilling Market Regional Insights
North America held the largest market share in 2021 and is expected to witness significant growth over the forecast period. The regional growth was mainly driven by the increasing demand from the oil and gas industry. Oil exploration operations have increased significantly in drilling activities over the years in the region. Growth in the construction industry has also encouraged the growth of the regional Horizontal Directional Drilling Market.
Horizontal Directional Drilling Market Segmentation
By Technique:
- Conventional
- Rotary steerable system
By Parts:
- Rigs
- Pipes
- Bits
- Reamers
By Application:
- Onshore
- Offshore
By End-User:
- Oil & Gas Excavation
- Utility
- Telecommunication
Horizontal Directional Drilling Market Key Manufacturers include:
- American Augers, Inc.
- Ditch Witch
- Ellingson Companies
- Vermeer Corporation
- The Toro Company
- Baker Hughes Incorporate
- Halliburton Company
- Schlumberger Limited
- Weatherford International
- National Oilwell Varco, Inc.
- Nabors Industries, Ltd.
- Barbco, Inc.
- Creighton Rock Drill Ltd.
- Direct Horizontal Drilling, Inc.
- Ferguson Michiana Inc.
- Herrenknecht Ag
- Laney Directional Drilling Co.
- Mccloskey International
- Mclaughlin Group, Inc.
- Nabors Industries Ltd.
- Nawtek GmbH
- Prime Drilling GmbH
- Horizontal Technology, Inc.
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Key questions answered in the Horizontal Directional Drilling Market are:
- What is Horizontal Directional Drilling?
- What is the current growth rate of the Horizontal Directional Drilling Market?
- What is the nature of competition in Horizontal Directional Drilling industry in developed and developing economies?
- Who are the key players in the Horizontal Directional Drilling Market?
- Who are the market leaders in Horizontal Directional Drilling in Europe?
- Who are the market leaders in Horizontal Directional Drilling in USA and Canada?
- Who are the market leaders in Horizontal Directional Drilling in India, China, Japan and South Korea?
- What are the factors affecting growth in the Horizontal Directional Drilling Market?
- Who held the largest market share in Horizontal Directional Drilling Market?
- What are the factors for the growth of Asia-Pacific region in Horizontal Directional Drilling Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Technique, Parts, Application, End-User and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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