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Directional Drilling Tools Market Trends

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Report ID: 3520
Published Date: Aug 26, 2024
Report Format: PDF, PPT

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Directional Drilling Tools Market Trends

Growth Drivers

Increasing Drilling Activities
Increasing Discoveries of New Oilfields

Challenges

High Cost of Drilling Tools
Shift in Focus on Renewable Energy

Directional Drilling Tools Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	8.4%
Base Year Market Size (2023)	USD 8.69 billion
Forecast Year Market Size (2036)	USD 24.8 billion
Regional Scope	North America (U.S., and Canada) Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific) Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Latin America (Mexico, Argentina, Brazil, Rest of Latin America) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

Directional Drilling Tools Market Size & Share, Growth Report 2036

Author Credits: Richa Gupta

Report ID: 3520
Published Date: Aug 26, 2024
Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of directional drilling tools is assessed at USD 9.27 billion.

Directional Drilling Tools Market size was valued at USD 8.69 billion in 2023 and is expected to exceed USD 24.8 billion by 2036, expanding at over 8.4% CAGR during the forecast period i.e., between 2024-2036. The rising number of drilling activities worldwide, followed by the rising discoveries of new oil fields will boost the market growth.

North America industry is anticipated to garner the largest revenue share of 45% by 2036, attributed to increasing number of drilling activities in the region, which is driving the need for advanced machineries and equipment.

The major players in the market are Scientific Drilling International, Weatherford International plc, China Oilfield Services Limited, China National Petroleum Corporation, Halliburton Energy Services, Inc., and others.

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