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Horizontal Directional Drilling Market Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 Report Format PDF+Excel Report ID SR112023A5101 Buy Now Report Description Table of Contents Methodology Request Sample Market Overview The global horizontal directional drilling market size reached US$ Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ Billion by 2028, exhibiting a growth rate CAGR of during 2023-2028. Horizontal directional drilling HDD refers to a trenchless drilling process that utilizes steerable motor assemblies for digging horizontal bores. It involves the use of rigs, bites, beamers and pipes to accurately drill along the chosen bore path and install underground pipelines, electrical semiconductors, service conduits and cables. HDD aids in increasing the contact between the reservoir and the wellbore and enhancing the overall efficiency, flexibility and cost-effectiveness. HDD can also be conducted with minimal requirements while causing negligible soil contamination or damage to the landscape. As a result, it finds extensive application across various industries, such as telecommunication, oil and gas, power and utilities. Horizontal Directional Drilling Market Trends A significant increase in the onshore and offshore oil and gas exploration activities is one of the key factors driving the growth of the market. HDD is widely used for hydraulic fracturing to increase the production of oil and natural gas from thin oil zones. Additionally, the widespread product adoption for surveying, designing and construction of underground cables for the installation of underground electrical telecommunication systems is favoring the market growth. Moreover, various technological advancements, such as the utilization of automated HDD systems, are providing a thrust to the market growth. These solutions utilize computer software to plan and guide drilling tools with enhanced accuracy and minimal data-to-surface delays. In line with this, the increasing preference for HDD due to the rising environmental concerns among the masses is also contributing to the growth of the market. HDD causes minimal disturbance to the surrounding environment and maintains the condition of the drilled area. Other factors, including the implementation of various government initiatives promoting sustainable oil and gas exploration, along with the rising demand for energy, especially in developing economies, are anticipated to drive the market toward growth. Note Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends. To get more information about this market, Request Sample Key Market Segmentation IMARC Group provides an analysis of the key trends in each sub-segment of the global horizontal directional drilling market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technique, parts, application and end user. Breakup by Technique Conventional Rotary Steerable System Breakup by Parts Rigs Pipes Bits Reamers Breakup by Application Note Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends. To get more information about this market, Request Sample On-shore Off-shore Breakup by End User Oil and Gas Excavation Utility Telecommunication Breakup by Region To get more information on the regional analysis of this market, Request Sample 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 Competitive Landscape The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Weatherford International plc. Report Coverage Report Features Details Base Year of the Analysis 2022 Historical Period 2017-2022 Forecast Period 2023-2028 Units US$ Billion Segment Coverage Technique, Parts, Application, End User, Region Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico Companies Covered 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 and Weatherford International plc Customization Scope 10% Free Customization Report Price and Purchase Option Single User License US$ 2499 Five User License US$ 3499 Corporate License US$ 4499 Post-Sale Analyst Support 10-12 Weeks Delivery Format PDF and Excel through Email We can also provide the editable version of the report in PPT/Word format on special request Key Questions Answered in This Report The global horizontal directional drilling market was valued at US$ Billion in 2022. We expect the global horizontal directional drilling market to exhibit a CAGR of during 2023-2028. The widespread adoption of horizontal directional drilling process as it causes minimal disturbance to the surrounding environment and maintains the condition of the drilled area, is primarily driving the global horizontal directional drilling market. The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in various exploration activities, thereby negatively impacting the demand for horizontal directional drilling machine. Based on the technique, the global horizontal directional drilling market can be categorized into conventional and rotary steerable system, where rotary steerable system exhibits clear dominance in the market. Based on the application, the global horizontal directional drilling market has been segregated into on-shore and off-shore. Currently, on-shore represents the largest market share. Based on the end user, the global horizontal directional drilling market can be bifurcated into oil and gas excavation, utility, and telecommunication. Among these, oil and gas excavation accounts for the majority of the total market share. On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market. Some of the major players in the global horizontal directional drilling market include 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, and Weatherford International plc. Need more help? Speak to our experienced analysts for insights on the current market scenarios. 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Installation of utilities using the Horizontal Directional Drilling method for installing cables, pipes and other utilities with sizes from 12 inch to 32 inch.
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