Rotary Steerable System Market Segmentation:
Application Segment Analysis
The onshore rotary steerable system market is estimated to gain the largest revenue share of about 60% in the year 2035. The higher number of oil rigs present on the land and the extraction of crude oil from onshore rigs and other oilfield services will boost the segment growth. Onshore wells require drilling extended-reach sections to access remote or offshore. A rotary steerable system enables longer horizontal section drilling. The majority of the world's oil rigs are on land. There were around 1,309 operational onshore oil rigs at the end of 2021. Moreover, it is expected that by 2025, around 72 percent of the crude oil produced globally will be produced onshore.
Type Segment Analysis
Rotary steerable system market from the push the bit segment is gaining popularity owing to improved drilling efficiency and it even reduces the drilling time by increasing the penetration rates. The International Association of Directional Drilling (IADD) estimates that there were 70 different RSS tools on the market by August 2020 from various businesses. Out of which, 70% of these are push-the-bit systems, demonstrating the popularity of this method over alternative steerable technologies like mud motors and point-the-bit RSS.
Our in-depth analysis of the market includes the following segments:
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