Horizontal directional drilling (HDD) represents a trenchless drilling technique that utilizes steerable motor assemblies for digging horizontal bores. It primarily involves the usage of bites, rigs, pipes, and beamers to accurately drill along the chosen bore path and install underground electrical semiconductors, pipelines, service conduits, cables, etc. Horizontal directional drilling can be conducted with minimal requirements while causing negligible damage to the landscape or soil contamination. Consequently, it finds wide-ranging applications across numerous industries, such as oil and gas, telecommunications, power, transportation, etc.
Report Metric
Historical: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027
According to the latest report by IMARC Group, titled "Global Horizontal Directional Drilling Market Size, Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027", The global horizontal directional drilling market reached a value of US$ 8.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 12.47 Billion by 2027 exhibiting a CAGR of 6.10% during 2022-2027.
Horizontal Directional Drilling Market Trends and Drivers:
The growing number of onshore and offshore oil and gas exploration projects is primarily driving the horizontal directional drilling market. Additionally, the widespread adoption of HDD for increasing the production of oil and natural gas from thin oil zones is further stimulating the market growth.
Besides this, the rising utilization of horizontal directional drilling for designing, surveying, and installation of underground electrical telecommunication systems, owing to its several benefits, including flexibility, high efficiency, cost-effectiveness, etc., is acting as another significant growth-inducing factor. Moreover, the launch of various favorable policies by government bodies across countries aimed at promoting sustainable oil and gas exploration to reduce the impact on the surrounding environment is also bolstering the global market.
Apart from this, several technological advancements, such as the introduction of automated HDD systems for planning and guiding drilling tools with enhanced accuracy and minimal data-to-surface delays, are anticipated to fuel the horizontal directional drilling market over the forecasted period.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Horizontal Directional Drilling Market 2022-2027 Analysis and Segmentation:
The report has segmented the market on the basis of region, technique, parts, application and end user.
Breakup by Technique:
Conventional
Rotary Steerable System
Breakup by Parts:
Rigs
Pipes
Bits
Reamers
Breakup by Application:
On-shore
Off-shore
Breakup by End User:
Oil and Gas Excavation
Utility
Telecommunication
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Baker Hughes Company
Barbco Inc.
China Oilfield Services Limited (China National Offshore Oil Corporation)
Ellingson Companies
Halliburton Company
Helmerich & Payne Inc.
Herrenknecht AG
Nabors Industries Ltd.
NOV Inc.
Schlumberger Limited
The Toro Company
Vermeer Corporation
Weatherford International plc.
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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