Horizontal Directional Drilling Market accounted for US$ 8.21 billion in 2020 and is estimated to be US$ 14.78 billion by 2030 and is anticipated to register a CAGR of 6.1%. Horizontal Directional Drilling (HDD) is a trenchless method of installing pipelines of various sizes and materials beneath the ground surface. Trenchless technologies like horizontal directional drilling, pipe bursting, and slip lining allow a city's complete water supply and drainage system to be changed without causing substantial traffic congestion or incurring the high cost of rebuilding streets and highways. In the last two decades, the Horizontal Directional Drilling sector has grown at an exponential rate, and Horizontal Directional Drilling has become a typical installation method.
The report " Global Horizontal Directional Drilling Market, By Technology (Conventional and Rotary Steerable System), By Application (Onshore and Offshore), By End Use (Oil & Gas Excavation, Utility, Telecommunication, and Others (Soil Mapping, Sewage Disposal, and Geothermal Energy Distribution)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
- Due to increased horizontal and directional drilling activity, North America is likely to maintain its dominance in the global directional drilling services market, with the majority of demand coming from the United States and Canada.
Analyst View:
Due to its capacity to hit several target zones and the flexibility to deploy from a single point in highly rugged sub-surface, the horizontal trenchless approach has acquired substantial support since its introduction. The widespread adoption of disruptive digital technologies such as 3D visualisation, 3D earth models, and automation has resulted in faster implementation, lower noise and waste, and improved underground accessibility. Furthermore, these technologies have allowed engineers, geoscientists, and other associated people to better visualise and improve the bore path's Rate of Penetration (ROP). Horizontal trenchless drilling applications in oilfields, renewable gas exploration, and long-distance optical cable deployments in offshore locales have all benefited from technological developments.
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Key Market Insights from the report:
Global Horizontal Directional Drilling Market accounted for US$ 8.21 billion in 2020 and is estimated to be US$ 14.78 billion by 2030 and is anticipated to register a CAGR of 6.1%. The global horizontal directional drilling market report segments the market on the basis of technology, application, end use, and region.
- Based on Technology, Global Horizontal Directional Drilling Market is segmented into Conventional and Rotary Steerable System.
- Based on Application, Global Horizontal Directional Drilling Market is segmented into Onshore and Offshore.
- Based on End-Use, Global Horizontal Directional Drilling Market is segmented into Oil & Gas Excavation, Utility, Telecommunication, and Others (Soil Mapping, Sewage Disposal, and Geothermal Energy Distribution).
- By Region, the Global Horizontal Directional Drilling Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Horizontal Directional Drilling Market:
Key players in the global horizontal directional drilling market includes, American Augers, Inc., Barbco, Inc., Creighton Rock Drill Ltd., Ditch Witch Equipment Co, Inc., Ellingson Corp., Ferguson Michiana Inc., Herrenknecht AG, Laney Directional Drilling Co., McCloskey International, and McLaughlin Group, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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