Market Dynamics:

Increased shale gas exploration activities is one of the major drivers propelling the growth of global directional drilling services market over the forecast period. Shale gas refers to natural gas trapped within shale formations. Directional drilling technology is extensively used for tapping shale gas reserves as they are generally located in difficult to access areas underneath dense rock formations. For instance, according to the U.S. Energy Information Agency, shale gas production has increased sharply over the past decade in the U.S. due to advancements in horizontal drilling and hydraulic fracturing technologies. Between 2000 to 2017, shale gas production in the U.S. increased from 0 trillion cubic feet (tcf) to 28.2 tcf.

Key Takeaways

The Global Directional Drilling Services Market Size  is expected to witness high growth over the forecast period from 2024 to 2031 supported by rising global energy demand and focus on unconventional reserves development. The market size is forecast to reach US$ 9.58 Bn by 2024.

Regional analysis North America currently dominates the market led by the massive shale reserves in the US. However, the Asia Pacific region is expected to exhibit the fastest growth amid rising oil and gas demand from China and India coupled with increasing exploration and production activity.

Key players operating in the directional drilling services market are B. Braun Melsungen AG, Fresenius Kabi, Leventon, S.A.U, Ambu A/S, Baxter International Inc., Halyard Health, and Nipro Corporation. These companies are focusing on technological advancements to improve efficiency of directional drilling operations.

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