Pune, Jan. 27, 2023 (GLOBE NEWSWIRE) -- A global Energy and Power business-consulting firm, Maximize Market Research, has published a market intelligence and competitive landscape report on the “Drilling Waste Management Market”. The report is a combination of primary data and secondary data and domain expert has analyzed the Drilling Waste Management Market from a local as well as a global point of view. Over the forecast period, Maximize Market research expects, the market to grow from USD 5.38 Bn in 2021 to USD 8.52 Bn in 2029 at a CAGR of 5.92 percent. As per the report, the North America region is expected to dominate the global Drilling Waste Management Market during the forecast period.
Drilling Waste Management Market Report Scope and Research Methodology
The report is a clear representation of a global Drilling Waste Management Market structure. It includes current trends in the market and forecasts to identify potential investment areas. The report forecasts the revenue growth at global, regional and country levels in terms of USD value from 2021 to 2029. It also consists of various factors affecting the global market such as historical data, recent technological development, competitive landscape and government policy. The Drilling Waste Management Market report provides information on major drivers, restraints, challenges and opportunities to clients. For easy understanding, the market has been divided into three major segments: type, technology and application. These major segments of the Drilling Waste Management Market were further divided into various sub-segments. Regional analysis with the market size of each region is included in the report. The report also includes a segment-wise analysis of the factors influencing the market growth. For the competitive analysis, major market players have been included in the report by their expansion plans, product, investments, pricing and presence in the market.
Both primary and secondary research methods were used and the data collected for the Drilling Waste Management Market report by using these methods were combined to draw accurate and error-free inferences. The secondary research was conducted to determine the total number of wells drilled worldwide in many countries, as well as their depth and impact on the market. The primary research included interviews with subject-matter experts, industry participants, high-level executives of key market players, industry consultants and other experts.
The Drilling Waste Management Market report includes a PESTLE analysis, which aids in the development of company strategies. Political variables help to figure out how much a government can influence the market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Drilling Waste Management Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the market is aided by legal factors. SWOT analysis was conducted to provide the strengths and weaknesses of the Drilling Waste Management Market.
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Drilling Waste Management Market Overview
Drilling and Production operations are on which the waste management activities are highly dependent. To maintain efficient drilling operations and to protect the environment, the successful application of waste management principles is essential. During the drilling operations such as drilled cuttings and drilling fluids, the contamination formed is called drilled waste. The market is majorly driven by exploration and production efforts in deep-water and ultra-deep-water areas in the world aided by rapid technological advancements that improve drilling and production capability.
Drilling Waste Management Market Dynamics
The Drilling Waste Management Market is majorly driven by the growth in oil production and exploration activities coupled with government policies regarding the management of drilling waste. The growing environmental concerns and the government regulations for the oil and gas industry regarding the management of waste are also expected to drive market growth in the future. Furthermore, the increasing research and development activities for advanced technologies for effective methods of treatment is expected to provide lucrative growth opportunity for the market during the forecast period. The lack of skilled professionals and high operational costs are the major factors that are expected to hamper the market growth during the forecast period.
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Drilling Waste Management Market Regional Insights
During the forecast period, the Drilling Waste Management Market in the North America region is expected to dominate the global market. In the region, this growth of the market is mainly attributed to stringent environmental laws and increasing investments in exploration and production activities.
The market in the Asia Pacific region is also expected to grow at a high CAGR because of the growing construction industry and huge natural gas reserves off the coast of China and India. During the forecast period, the expected increase in the demand for natural gas due to its low emission levels would contribute to market growth.
| Market Size in 2021 | USD 5.38 Bn. |
| Market Size in 2029 | USD 8.52 Bn. |
| CAGR | 5.92% (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 199 |
| No. of Tables | 100 |
| No. of Charts and Figures | 95 |
| Segment Covered | Type, Technology and Application |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
Drilling Waste Management Market Segmentation
By Type
- Drying Shake
- Cutting Dryer
- Decanter Centrifuge
- Submersible Slurry Pump
- Screw Pump
By Technology
- Treatment & Disposal
- Solids Control
- Containment & Handling
By Application
- Onshore
- Offshore
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Drilling Waste Management Market Key Competitors include:
•Baker Hughes(US)
• Halliburton(US)
• Schlumberger(US)
• Weatherford(US)
• Soli-Bond(US)
• GN Solid Control(US)
• Nuverra Environmental Solutions(US)
• National Oilwell Varco(US)
• Hebei Gn(US)
• QMax(US)
• Terra Olifield Solutions(US)
• Derrick Corporation(US)
• Derrick Corporation(US)
• Newalta(Canada)
• Ridgeline Canada (Canada)
• Tervita Corporation(Canada)
• Secure Energy Services(Canada)
• TWMA(UK)
• Augean PLC(UK)
• KOSUN Machinery CO.,Ltd (China)
• Imdex Limited (Australia)
• Step Oiltools (Netherland)
• Specialty Drilling Fluids Ltd(India)
• Scomi(Malaysia)
• Others
Key questions answered in the Drilling Waste Management Market are:
- What is the growth potential of the Drilling Waste Management Market?
- What are the global trends in the Drilling Waste Management Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Drilling Waste Management Market?
- How is the intervention from regulatory authority is shaping the Drilling Waste Management Market?
- What growth strategies are the players considering to increase their presence in the Drilling Waste Management Market?
- Who are the leading companies and what are their portfolios in Drilling Waste Management Market?
- What are the major challenges that the Drilling Waste Management Market could face in the future?
- Who held the largest market share in Drilling Waste Management Market?
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Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Type, Technology, Application and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading Energy & Power research firm, has also published the following reports:
Oilfield Services Market - The market size is expected to reach USD 136.80 billion by 2029 at a CAGR of 3.4 percent during the forecast period. The market is expected to be driven by the growth in production activities and deep-water exploration in the gulf region.
Hazardous Waste Management Market - The market size is expected to reach USD 52.92 billion by 2029 at a CAGR of 4.95 percent during the forecast period. The market is expected to be driven by the increasing amount of hazardous waste every day due to rapid urbanization and industrialization along with the growing population.
Medical Waste Management Market - The market size is expected to reach USD 15.27 billion by 2029 at a CAGR of 5.8 percent during the forecast period. The market is expected to be driven by the increase in the volume of medical waste generated and increasing government initiatives to raise awareness regarding proper medical waste disposal.
Food Waste Management Market - The market size is expected to reach USD 63.30 billion by 2029 at a CAGR of 5.8 percent during the forecast period. The market is expected to be driven by the rise in global food waste and the increasing use of organic waste for the manufacture of feed and fertilizers.
Waste Management Market - The market size is expected to reach USD 631.29 billion by 2029 at a CAGR of 5.12 percent during the forecast period. The market is expected to be driven by the increasing adoption of government measures to reduce illegal dumping.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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