Dublin, May 23, 2022 (GLOBE NEWSWIRE) -- The "Global Extended Reach Drilling Market, By Type (Shallow, Intermediate, Deep, and Ultradeep), By Well Type (3D Wells, Deviated Wells, Others), By Technology, By Application, By Region, Competition Forecast and Opportunities, 2017-2027" report has been added to ResearchAndMarkets.com's offering.
The global extended reach drilling market is expected to grow at a significant rate with market growth attributed to the advancements in technology and increasing demand for oil and gas in various end-user industries.
Developments in multiple tools and technologies related to drilling for enhancing the efficiency of the procedures and increasing oil production are also fueling the growth of the global extended reach drilling market.
Besides, expanding drilling activities in remote areas in the fragile environment is also aiding the growth of the global extended reach drilling market.
Rising global demand for oil and gas on account of growing industrialization activities and growing applications of technologies like rotary steerable systems and friction reduction tools, among others, are propelling the growth of the global extended reach oil drilling market. Moreover, the expansion of various industries such as automotive, construction, and other manufacturing units and increasing demand for oil excavation are contributing to the market growth.
The use of advanced tools and technologies for increasing oil production capacity while eliminating oil loss is also positively influencing the growth of the global extended reach oil drilling market. Moreover, increasing investments from government authorities and the private sector and the development of innovative tools are supporting the growth of the global extended reach oil drilling market.
The shallow type segment is anticipated to hold the largest share in the global extended reach drilling market due to the increasing number of oil excavation projects around the world. Based on well type, the market is sub-segmented into 3D wells, deviated wells, and others. Deviated wells are expected to dominate the global extended reach drilling market due to increasing dependency on extended reach drilling processes.
Major players operating in the global extended reach drilling market are China Oilfield Services Limited, HXR Drilling services, K&M Technology Group, Schlumberger Limited, Baker Hughes, Halliburton Company, Weatherford International, Mubadala Petroleum Ltd..
Objective of the Study:
- To analyze the historical growth in the market size of global extended reach drilling market from 2017 to 2021
- To estimate and forecast the market size of global extended reach drilling market from 2022E to 2027F and growth rate until 2027
- To classify and forecast global extended reach drilling market based on type, well type, technology, appliaction, region, and competitive Landscape
- To identify dominant region or segment in the global extended reach drilling market
- To identify drivers and challenges for global extended reach drilling market
- To examine competitive developments such as expansions, mergers & acquisitions, etc, in global extended reach drilling market
- To identify and analyze the profile of leading players operating in global extended reach drilling market
- To identify key sustainable strategies adopted by market players in global extended reach drilling market
Competitive Landscape: Detailed analysis of the major companies present in global extended reach drilling market
- China Oilfield Services Limited
- HXR Drilling services
- K&M Technology Group
- Schlumberger Limited
- Baker Hughes
- Halliburton Company
- Weatherford International
- Mubadala Petroleum Ltd.
Report Scope:
Years Considered for This Report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022E
- Forecast Period: 2023F-2027F
Extended Reach Drilling Market, By Type:
- Shallow
- Intermediate
- Deep
- Ultradeep
Extended Reach Drilling Market, By Well Type:
- 3D Wells
- Deviated Wells
- Others
Extended Reach Drilling Market, By Technology:
- Rotary Steerable Systems
- Measurement-While-Drilling
- Logging-While-Drilling
Extended Reach Drilling Market, By Application:
- Onshore
- Offshore
Extended Reach Drilling Market, By Region:
North America
- United States
- Mexico
- Canada
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Poland
- Denmark
Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Malaysia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Iraq
- Turkey
South America
- Brazil
- Argentina
- Colombia
- Peru
- Chile
For more information about this report visit https://www.researchandmarkets.com/r/fr3nc1
